Clean energy largest driver of Chinese GDP growth in 2023: report
China is the world's biggest emitter of greenhouse gases driving climate change, but it is also the top producer of...
Saudi Arabia to highlight role in dealing with global challenges at WEF meet
RIYADH, SAUDI ARABIA – Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef said that the Kingdom’s participation in the...
Economy
‘Global climate action brings immense optimism’
Arts & Culture
Economy
Gas to flow ‘in weeks’ from Israeli licensed field disputed by Lebanon
Israel says the Karish field is located entirely within its exclusive economic zone, but Lebanon insists that part of the...
- Israel announced in early July that it had downed three unarmed drones launched by Hezbollah towards Karish
- Israel's Defence Minister Benny Gantz said late last month that any attack on its gas assets could reignite war between the two sides
Business
DEWA programs prepare Emiratis to join the organization
Dubai Electricity and Water Authority is committed to promoting Emiratization in its various divisions by adopting an integrated strategy to...
- The MD & CEO of DEWA said that the percentage of Emiratization at DEWA has reached 88.14 percent in senior management.
- DEWA has launched several pioneering projects and programs for the employment of Emiratis.
Geostrategy
EU seeks closer ties with gas-rich Qatar, opens office in Doha
The European Union opened an office in Qatar on Wednesday in a sign of the Gulf state's growing influence in solving...
- Qatar is one of the world's top suppliers of liquefied natural gas and growing requests have been made by Germany and other European nations.
- The EU wants closer ties on "the energy sector, economic development, security challenges", EU council president Charles Michel said.
Economy
UAE meets 42% of Japan’s crude oil needs in July
Japan imported 81.05 million barrels of crude during July, of which 79.17 million barrels, or 97.17 percent, came from Arab...
- Japan imported 81.05 million barrels of crude during July, of which 79.17 million barrels, or 97.17 percent, came from Arab countries
- Saudi Arabia contributed 28.47 million barrels, which is 35.1 percent of the Japanese crude needs
Geostrategy
IAEA calls for security zone at Ukraine’s nuclear plant
The International Atomic Energy Agency called Tuesday for the establishment of a security zone around Ukraine's Zaporizhzhia nuclear power plant,...
- The occupation of the nuclear power plant, Europe's largest, has sparked fears of a nuclear disaster as both Russia and Ukraine trade blame for shelling the site.
- IAEA said in a report that the current situation is untenable after it sent a team to the plant.
Market Report
Stocks push higher, but yen and euro under pressure
European and US stocks rose Tuesday, but gains were capped by economic slowdown fears and central bank efforts to contain...
- European and US stocks rose Tuesday, but gains were capped by economic slowdown fears and central bank efforts to contain surging inflation.
- Frankfurt rebounded somewhat despite news that Germany's industrial orders slumped for the sixth consecutive month in July.
Erdogan blames Europe’s energy crisis on Russia sanctions
Erdogan told reporters before departing for a three-nation swing through the Balkans that European nations were "harvesting what they sowed"...
- Kremlin spokesman on Monday blamed Russia's halt of gas deliveries to Germany via the Nord Stream pipeline on "sanctions that were imposed against our country"
- Analysts believe the deal will ensure that Russia will continue to supply Turkey with gas through the TurkStream pipeline running under the Black Sea
Economy
Algeria a ‘reliable’ gas supplier: EU chief Michel
European officials have been looking to Algeria, Africa's biggest gas exporter, to fill a shortfall in supplies after Russia's invasion...
- Before the Ukraine war, Algeria provided the European Union with some 11 percent of its gas needs
- Algiers has seen a string of high-profile visitors in recent months seeking to boost exports
Geostrategy
Iran hopes to see sanctions relaxed to export gas to Europe
Tehran, Iran - Iran said Monday it hopes to see US sanctions eased or lifted to allow it to sell...
- Iran is engaged in talks with world powers to revive its 2015 nuclear deal which the US unilaterally abandoned in 2018.
- Iran has the world's second largest natural gas reserves after Russia, but lacks the infrastructure to increase its exports.
Business
ADNOC announces $548m contract for Lower Zakum field
Abu Dhabi National Oil Company (ADNOC) Monday announced the award of a US$548 million (AED2.01 billion) contract to build a...
- The award will increase the Lower Zakum field’s gas production capacity from 430 million to 700 million standard cubic feet per day.
- The project will see the construction of a new subsea pipeline that will run 85 kilometers from Zakum West Super Complex to Das Island.
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Clean energy largest driver of Chinese GDP growth in 2023: report
China is the world's biggest emitter of greenhouse gases driving climate change, but it is also the top producer of...
Company News
Aquaterra gets UAE contract
Business
Latest News
‘Global climate action brings immense optimism’
Arts & Culture
Oil prices climb to highest level in seven months on supply fears
Dubai, UAE--Oil prices rose to their highest in over half a year and snapped a two-week losing streak, buoyed by...
Economy
UAE economy expected to grow by 3.5 percent in 2023, says UBS
ABU DHABI, UAE - Chief Investment Officer, Emerging Markets at UBS Global Wealth Management Michael Bolliger forecasts the UAE's gross...
Economy
Renewables helped save $520bn fuel costs globally in 2022: Report
In non-OECD countries, just the saving over the lifetime of new capacity additions in 2022 will reduce costs by up...
Geostrategy
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Business
Iran inaugurates final phase of country’s largest gas field
The South Pars gas field is one of the world's largest natural gas condensate fields. Iran shares the gas field...
- Oil Minister Javad Owji said around 50 million cubic meters of gas will be extracted daily from phase 11 of the project "after the completion of the wells".
- Iran has the world's second largest gas reserves, after Russia, and the world's fourth largest oil reserves.
Business
NIDC drills 195 oil wells in 2 years
Wells were drilled in onshore, offshore operations.
- The oil and gas wells were put into operation by affiliated companies of the National Iranian Oil Company.
- 13 wells were completed 201 days sooner than expected due to round-the-clock efforts of NIDC’s employees.
Business
Climate change to be discussed in Dubai COP28 meet, says Egypt minister
Cairo, Egypt - Egyptian Minister of International Cooperation Dr. Rania Al Mashat, said the 28th Conference of the Parties to...
- noted that international reports indicate that the countries in the Middle East and North Africa region are most vulnerable to climate change risks
- Al Mashat added that COP28 will see presentations on the most important results and joint action taken over a year within the National Platform for Green Projects