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
EU worried Red Sea attacks could spark inflation
European Union economy commissioner Paolo Gentiloni warned that violence in the Red Sea sparked by Houthi attacks on shipping could...
Geostrategy
Geostrategy
Iran President seeks US guarantees to renew nuclear deal
"We cannot trust the Americans because of the behavior that we have already seen from them. That is why if...
- EU foreign policy chief Josep Borrell told AFP last week that negotiations to bring Iran back into the deal are stalemated, after proposals from the parties "were converging".
- Three years later, Donald Trump pulled out and reimposed sweeping sanctions. President Joe Biden supports a return but Iran's call for guarantees has become a sticking point.
Economy
Dubai reduced carbon emissions by 21 percent in 2021
The Dubai Supreme Council of Energy had a virtual meeting in which it was revealed that Dubai had reduced carbon...
- The Dubai Supreme Council of Energy in a meeting discussed increasing the share of solar energy.
- The meeting deliberated waste recycling in power and water production, industry, ground transport and waste treatment.
Economy
Electricity shortage pushes South Africa towards blackouts
On an eight-notch scale of rolling blackouts, the country has reached the sixth critical stage. Level six was seen in...
- State-owned Eskom announced "a high stage of load shedding this week", using jargon for planned outages.
- The rise in temperature since September with the arrival of spring usually leads to a drop in consumption, in particular with reduced heating demand.
Geostrategy
DEWA CEO briefs Utah House of Representatives delegation
MD & CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer met a delegation from the Unified...
- Speaker of Utah House of Representatives Brad Wilson led the delegation to the UAE.
- The delegation want to learn about DEWA’s innovative development projects in the water, renewable and clean energy sectors.
Geostrategy
IAEA says Ukraine nuclear plant reconnected to national grid
Days after it was cut off from external power, raising the risk of an accident, Ukraine's nuclear plant is receiving...
- Since being cut off from the grid, the station was relying on its own power supplies to operate essential safety mechanism
- Zaporizhzhia was seized by Russian troops in March and shelling around the facility raised fears of nuclear disasters ever since
Geostrategy
Activists thwarts offloading of Russian gas in Finland
HELSINKI, FINLAND - Activists from environmental group Greenpeace blocked a shipment of Russian gas from unloading at a liquefied natural...
- The activists demanded Helsinki stop importing Russian gas after Russia's President Vladimir Putin invaded Ukraine more than six months ago.
- The director for the terminal's operator, Manga LNG, Mika Kolehmainen, said the action took place around 7:00 am (0400 GMT) at Tornio port.
Geostrategy
France sends latest nuclear shipment to Japan
Two ships carrying reprocessed nuclear fuel destined for Japan set sail Saturday morning from northern France, an AFP photographer said,...
- MOX fuel is a mixture of reprocessed plutonium and uranium.
- Environmental activists have denounced the practice of transporting such highly radioactive materials, calling it irresponsible.
Geostrategy
World Green Economy Summit to discuss food security
The eighth World Green Economy Summit (WGES) will explore ways to improve global food security, sustainability of the food systems...
- WGES brings together global decision-makers and influencers to share their experiences to mitigate global food crises.
- The UAE plays a crucial role in addressing the issues relating to global food security.
Geostrategy
UAE, Uruguay discuss cooperation in various fields
Speaker of the UAE Federal National Council (FNC) Saqr Ghobash discussed with Uruguay's Minister of Livestock, Agriculture and Fisheries Fernando...
- The Speaker of the Federal National Council is leading a UAE parliamentary delegation on an official visit to Latin America from September 12 to 22.
- The 10-day tour includes Brazil, Uruguay, Paraguay and Colombia and aims to promote strategic partnerships with the UAE.
Geostrategy
Germany seizes Rosneft’s subsidiaries
Berlin took control of the German operations of Russian oil firm Rosneft to secure energy supplies which have been disrupted...
- The seizures come as Germany is scrambling to wean itself off its dependence on Russian fossil fuels.
- Move covers the companies Rosneft Deutschland GmbH and RN Refining & Marketing GmbH and their corresponding stakes in three refineries: PCK Schwedt, MiRo and Bayernoil.
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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
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Middle East sets global standards in renewable energy
This TRENDS Explainer Video explores how the Middle East is fueling its economy with renewables like solar, wind, and green...
Videos
Mega projects bet high on diversified future
This TRENDS infographic dives into Saudi Arabia’s ambitious transformation to discover how the Kingdom is reshaping its future with high...
Economy
Saudi crown prince says ready for economic partnership with BRICS
DUBAI, UAE – Saudi Arabian Crown Prince Mohammed bin Salman in a telephonic conversation with Russian President Vladimir Putin has...
Geostrategy
Most Read
Oil, gas sector emission pledges stalling: report
According to Carbon Tracker, the weakest emissions reductions commitments came from US major ExxonMobil and five majority state-owned oil firms:...
- A report by Carbon Tracker assessed and ranked emissions reductions commitments by 25 of the largest oil and gas firms, as measured by 2022 production volumes
- Some 16 firms only covered operational emissions and failed to take into account indirect emissions linked to the full life cycle and use of their products
Business
Saudi Arabia and Russia extend oil cuts, Brent crude price up
The Saudi production cut of one million barrels per day which first took effect in July will continue "for another...
- Brent crude rose above $90 per barrel on the news for the first time since November, while West Texas Intermediate, the main US futures contract, jumped 1.9 percent to $87.16.
- Riyadh, the world's biggest crude exporter, first announced its cut after a June meeting of the 23-nation OPEC+ alliance, which also includes Russia.
Business
UAE announces US$4.5bn in Africa clean energy investments
Speaking at a landmark climate summit hosted by Kenya, Sultan Al Jaber, who heads the government-owned renewable energy firm Masdar,...
- The minister said the investment in Africa is aimed to develop 15 GW of clean power by 2030
- As of 2022, the continent's renewable generation capacity was 56 gigawatts, according to the IREA