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

Shell annual profit drops to US$19.4bn

Its revenue dived almost a fifth percent to US$316.6 billion.

Business

Oil sees fluctuating prices, shifting output trends

The crude oil market experienced significant volatility in the year 2023, with prices swinging dramatically, influenced by various global factors.

Business
Business

GHD, Fraunhofer–Gesellschaft to help develop UAE hydrogen policy

The Ministry of Energy and Infrastructure (MoEI) of UAE announced that it had signed an agreement with GHD Group, in...
  • UAE's National Hydrogen Strategy will help in formulating policies for energy-mix diversification strategies and net-zero targets by 2050.
  • Crucial elements must be in place for a booming hydrogen-based economy, including proper infrastructure, technological readiness and market access.
Geostrategy

UAE to provide Germany gas, diesel under ‘energy security’ deal

As part of the deal, the UAE will provide "an LNG cargo for delivery in late 2022, to be used...
  • The fact that we are dependent on one supplier and also dependent on its decisions will certainly not happen to us again, Scholz said.
  • In Qatar, the last stop on his two-day Gulf tour, the chancellor said the emirate's rights record is improving.
Economy

Saudi launches five projects to produce electricity using renewable energy

Riyadh, Saudi Arabia--Saudi Arabia has launched five new projects to produce electricity using renewable energy, which is part of the...
  • Saudi Energy Procurement Company (the main buyer) launched the projects for competition.
  • These projects, with a total capacity of 3300 MW, include three projects to exploit wind energy and two projects to exploit solar energy.
Business

German bakeries struggle to survive as costs spiral

Germany's center-left government has announced relief measures worth almost 100 billion euros to tackle inflation, but small businesses have so...
  • The war has sent energy prices spiraling across Europe, but especially in Germany, which was previously heavily dependent on Russian gas
  • Many bakeries in Germany have already gone under as a result of recent cost increases, with others staging protests to demand urgent help from the government
Geostrategy

UAE, Russia review bilateral relations, strategic ties

The UAE foreign minister noted both the countries support each other to achieve sustainable economic growth and enhance the prosperity...
  • Sheikh Abdullah discussed Ukraine crisis with Lavrov and promised full support to efforts aimed at finding a peaceful solution to the conflict.
  • The two also discussed issues of common concern including energy and food markets and the importance of their stability to the global economy.
Geostrategy

German Chancellor in Saudi Arabia on energy hunt

German Chancellor Olaf Scholz arrived in Saudi Arabia at the start of a two-day Gulf tour, in the hope of...
  • Germany wants to extend cooperation on new technologies such as green hydrogen produced using renewable energy.
  • Germany hopes to agree new energy partnerships with the oil-and gas-rich Gulf states, with the loss of supplies from Russia in the wake of the invasion of Ukraine.
Business

TotalEnergies, Qatar ink pact

TotalEnergies to invest $1.5bn in natural gas production.
  • Qatar Energy and TotalEnergies as partners will together work for the development of the North Field South gas project.
  • TotalEnergies will have 9.3 percent of the North Field South project, Qatar Energy Minister said, for which 25 percent will be reserved for foreign energy firms.
Economy

‘More efforts needed for net zero carbon emissions by 2050’

More efforts are required to make the world reach net zero emissions by mid-century, according to the International Energy Agency's...
  • Recent technology developments and policy actions suggest momentum is accelerating in some important regions and sectors to achieve net zero by 2050.
  • Initial estimates point to 2022 being a record year for renewable electricity capacity additions, with an increase of about 340 gigawatts.
Economy

Dubai emerges as a driving force for a green economy

Dubai is consolidating its position as a pioneer in transitioning to a green economy to support the efforts of the...
  • Dubai had launched an in-depth study that showed how the Emirate can achieve carbon neutrality (net zero emissions) by 2050.
  • The Dubai Net Zero Carbon Emissions Strategy 2050 aim to provide 100 percent energy from clean energy sources by 2050.
Economy

French TV to show ‘power map’ to avoid winter black outs

France's national broadcaster said Friday it would begin broadcasting a "power map" to  viewers, showing demand for electricity around the...
  • Under a deal signed with the main operator of the country's power grid, France Televisions will begin showing a real-time map called Ecowatt on its channels.
  • During periods of worryingly high demand -- which will be coloured in red -- viewers will be encouraged to reduce their power consumption or avoid drawing on the grid at peak hours

Shell annual profit drops to US$19.4bn

Its revenue dived almost a fifth percent to US$316.6 billion.
Business

Company News

Latest News

Oil prices at a crossroads as production cuts persist

Oil stocks drop as Saudi Arabia and Russia extend a 1.3 million barrel per day oil supply reduction, leading to...
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...
Business

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...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

IEA forecasts energy demand to reach record high this decade

The IEA's annual World Energy Outlook, due out next month, will show that "the world is on the cusp of...
  • The shift will have implications for the battle against climate change as it will bring forward the peak in greenhouse gas emissions, IEA executive director Fatih Birol said.
  • "This is the first time that a peak in demand is visible for each fuel this decade," he wrote in FT, adding that this was happening sooner than anticipated.
Geostrategy

Building less, repurposing more key to low construction sector emissions

The industry is responsible for 37 percent of global carbon dioxide emissions and growing urbanization is spurring the construction of...
  • Mushrooming urban environments -- which add new buildings in an area equivalent in size to Paris every five days -- damage life-sustaining ecosystems.
  • Building less and repurposing existing structures generates 50-75 percent fewer emissions than new constructions, a report said.
Geostrategy

150 dead in Libya after storm Daniel results in floods

"At least 150 people were killed as a result of flooding and torrential rains left by storm Daniel in Derna,...
  • The storm struck eastern Libya on Sunday afternoon, notably the coastal town of Jabal al-Akhdar but also Benghazi, where a curfew was declared.
  • Images filmed by residents of the disaster area showed massive mudslides, collapsed buildings and entire neighborhoods submerged under water.