INSEAD Day 4 - 728x90

Energy

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

OPEC+ panel reaffirms cartel’s current output reduction strategy

In an effort to shore up prices, the OPEC+ oil alliance of 23 nations has implemented supply cuts of more...

Business

KACST, ACWA Power sign pact

The aim is to develop technologies for clean energy.

Business
Business

Large turnout of visitors at WETEX, Dubai Solar Show

The Water, Energy, Technology and Environment Exhibition (WETEX) and Dubai Solar Show (DSS) saw a large turnout of visitors in...
  • A total of 1,750 companies from 55 countries worldwide participated in the exhibition.
  • Latest global solutions, technologies, innovations in energy, water, sustainability, renewable and clean energy were highlighted in the event.
Economy

Fourth leak detected at Nord Stream pipelines in Baltic Sea

A Swedish Coast Guard official said that there are two leaks on the Swedish side and two leaks on the...
  • Media reported that the latest leak was detected at the Nord Stream 2 pipeline, but the coast guard did not confirm this
  • The vast leaks cause significant bubbling at the surface of the sea several hundred meters wide, making it impossible to immediately inspect the structures
Geostrategy

EU proposes new Russia sanctions including oil price cap

European Union also plans to expand its travel blacklist and asset freezes to include high-ranking Russian defense officials and organizers...
  • The EU will also look to ban Russian exports worth $7 billion and tighten restrictions on goods flowing from the EU that could help Russia's war machine
  • The push for an oil price cap is aimed at limiting how much third countries, such as China and India, pay for Russian crude
Geostrategy

EU proposes new sanctions on Russian exports

The EU's executive proposed a new round of sanctions on Moscow over its latest "escalation" in Ukraine, including an oil...
  • As part of the new round of sanctions the commission is laying out a 'legal basis' for a price cap on Russian oil
  • It will also look to ban Russian exports worth $7 billion and tighten restrictions on goods flowing from the EU.
Geostrategy

UAE, Japan sign comprehensive strategic partnership pact

Minister of Industry and Advanced Technology and UAE Special Envoy to Japan Dr. Sultan bin Ahmed Al Jaber and the...
  • The UAE-Japan strategic partnership agreement aims to bolster relations between the two countries to advance their common interests.
  • The key areas of the partnership include diplomacy, enhancing international development, humanitarian aid efforts, business, trade, energy.
Economy

EU sees Nord Stream pipeline leaks as ‘deliberate act’

Any deliberate disruption of European energy infrastructure is utterly unacceptable and will be met with a robust and united response,...
  • European Council President Charles Michel tweeted that Nord Stream sabotage acts appear to be an attempt to further destabilize energy supply to EU
  • Sweden and Poland have already said sabotage was the most likely cause of the leaks from the pipelines in the Baltic Sea

Nord Stream 1 gas pipeline hit by leaks in Baltic Sea: authorities

Following the leaks, Jorgensen said the authorities called for "higher levels of preparedness in the electricity and gas sector" in...
  • The Nord Stream 1 leaks were first spotted Monday evening, hour after a drop in pressure was reported in Nord Stream 2, according to the Swedish Maritime Administration
  • As a result of the leaks, navigational warnings have also been issued for a distance of five nautical miles and a flight height of 1,000 meters
Geostrategy

IAEA asks Russia, Ukraine to secure nuclear plant

The head of the UN atomic energy watchdog - IAEA- said he was ready to continue talks in Ukraine and...
  • Fighting around Ukraine's Zaporizhzhia nuclear power plant -- Europe's largest -- has raised fears of a nuclear disaster.
  • The IAEA chief said that all efforts must be made in order to prevent a nuclear accident that would add tragedy to the suffering,
Economy

Saudi Arabia to set up five new renewable energy projects

The projects, whose total capacity reaches 3,300 MW, includes three which will utilize wind energy and two which will use...
  • The projects, whose total capacity reaches 3,300 MW, includes three which will utilize wind energy and two which will use solar energy
  • The projects are part of the National Renewable Energy Program as part of Saudi Arabia’s target to reach the best energy mix
Economy

Egypt’s gas export revenues up 13-fold in 8 years

Egypt’s natural gas and liquified natural gas (LNG) export revenues reached $8 billion in the fiscal year 2021-2022.
  • Egypt’s natural gas and liquified natural gas (LNG) export revenues reached $8 billion in the fiscal year 2021-2022
  • Egypt has quadrupled its exports of LNG and natural gas over the past eight years from 1.9 million tonnes to 7.2 million tonnes

OPEC+ panel reaffirms cartel’s current output reduction strategy

In an effort to shore up prices, the OPEC+ oil alliance of 23 nations has implemented supply cuts of more...
Business

Company News

Latest News

Aramco, IHC among biggest companies in Middle East

Energy, banking and financial services, and industrial sector companies are among the largest in the Middle East, especially the Gulf...
Infographics

Jordan’s interconnection projects to serve as hub for energy exchange

AMMAN, JORDAN -The Kingdom’s Ministry of Energy and Mineral Resources has emphasized the significance of current and upcoming electrical interconnection...
Geostrategy

California sues oil giants, alleges environment, climate-risks deception

The US state of California sued five of the world's largest oil companies, alleging the firms caused billions of dollars...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

Turkey-China nuclear power plant deal possible soon: Minister

Dubai, UAE -- The talks between Turkey and China to build a nuclear power plant in eastern Thrace are progressing and...
  • Senior officials from the Chinese government visited eastern Thrace and saw the sites where the construction is planned, Middle East Eye reported.
  • Russia is already building a power plant in Akkuyu that will become partly operational next year.

Turkey casts doubt on need for new Russian gas hub

Putin first raised the idea of creating "a gas hub in Turkey for supplies to other countries" during talks with...
  • Turkish Energy Minister Alparslan Bayraktar told a group of reporters on Thursday that Turkey already had a well-functioning gas trading platform
  • Russia currently ships gas to Turkey via two pipelines running under the Black Sea and Turkey sends some of that gas onto southeastern European countries
Economy

Saudi and Russian oil cuts to cause big supply shortfall: IEA

The IEA said world oil demand remains on track to grow by 2.2 million bpd to 101.8 million bpd this...
  • The warning comes a day after oil prices jumped following OPEC's own update
  • Saudi Arabia and Russia said that they would extend voluntary cuts until the end of the year