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
World adds 50% more renewable energy capacity in 2023
The International Energy Agency said that the renewable energy capacity added to energy systems went up 50 percent in 2023,...
Economy
Geostrategy
Iran urges IAEA to end undeclared nuclear sites issue
The United States remains adamant that Tehran cooperate with the International Atomic Energy Agency to clear up suspicions about earlier...
- Iran came back last week with a series of proposed changes, to which the United States formally responded on Wednesday, a day after Tehran accused its arch-enemy of stonewalling
- The 2015 agreement between Iran and six world powers Britain, China, France, Germany, Russia and the United States gave the Islamic republic sanctions relief in exchange for curbs
Economy
In risky recyling venture, Gazans burn plastic for fuel
It's an economic and practical solution in a territory blockaded by Israel for 15 years, but one which poses serious...
- Burning plastic releases dioxins, mercury and other toxic gases which pose a threat to vegetation, human and animal health
- Since 2007, when Hamas seized control of the Gaza Strip, Israel has severely restricted the flow of people and goods in and out of the coastal enclave
Economy
European gas prices approach record peak on Russian supply fears
Europe's benchmark Dutch TTF gas contract advanced to 318 euros per megawatt hour before paring gains. That was not far...
- Prices have spiked in recent days as a three-day halt in Russian deliveries to Germany via the Nord Stream 1 pipeline approaches.
- One-year forward contracts for electricity prices in both France and Germany surged on Thursday to record pinnacles on worries over a winter energy crunch.
Economy
ENEC hosts top performing students from Al Dhafra region
The Emirates Nuclear Energy Corporation (ENEC) has hosted a recognition ceremony at the Barakah plant for top-performing students from the...
- The hosting of students reflects ENEC's stand to provide UAE youth with skills to become future leaders of the nation's growing nuclear energy sector.
- The event include an educational tour for students to visit Barakah Plant, the first multi-unit operational nuclear plant in the Arab World.
Geostrategy
Jordan’s power supply to West Bank doubles after Jordan Valley plant’s upgrade
Jordan's Prime Minister emphasized that the project reflects Jordanian commitment to assist in laying the foundation for an independent Palestinian...
- Jordan's Prime Minister emphasized that the project reflects Jordanian commitment to assist in laying the foundation for an independent Palestinian state
- He added that Jordan is doing everything possible to safeguard the historical and legal status of Al-Aqsa Mosque and Al-Haram Al-Sharif
Business
Kuwait raises oil production to meet growing demand
The increased production is consistent with announcements made by Kuwait Petroleum Corporation.
- The increased production is consistent with announcements made by Kuwait Petroleum Corporation
- Kuwaiti oil minister Dr Al Faris said that Kuwait will continue to support efforts to promote market stability
Economy
Two new solar projects to double Qatar’s renewable energy output
Qatar on Tuesday announced two major solar projects that will more than double its energy output from the renewable source...
- The plants at Mesaieed and Ras Laffan will take Qatar's solar output to 1.67 gigawatts by the end of 2024, Qatar Energy said in a statement.
- South Korean conglomerate Samsung will lead construction of the new solar plants, with an initial investment of more than $600 million.
Business
DEWA breaks own record for overhaul of gas turbines
Dubai Electricity and Water Authority (DEWA) has announced breaking its own world record in major inspection outage duration for the...
- DEWA has reduced the maintenance outages for critical inspection operations from 11 days to nine days.
- There is a reduction in the maintenance duration of 84 percent compared to 2006.
Geostrategy
Sadr supporters begin sit-in outside top Iraq judicial body
Several hundred supporters of Shiite cleric Moqtada Sadr launched a sit-in outside Iraq's top judicial body on Tuesday, ratcheting up...
- On August 10, Sadr gave the Supreme Judicial Council one week to dissolve parliament to end the political deadlock
- Last week, caretaker Prime Minister Mustafa al-Kadhemi convened crisis talks with party leaders, but they were boycotted by the Sadrists
Business
OPEC+ has ‘means’ to deal with oil volatility: Saudi Arabia
Prince Abdulaziz bin Salman said in an interview with Bloomberg that OPEC+ has the commitment, the flexibility, and the means...
- OPEC and 10 allies led by Russia a group known as OPEC+ agreed last month to raise production by 100,000 bpd in September
- They had agreed to increases of almost 650,000 bpd in July and August, but the cartel has struggled to meet its quotas
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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
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Latest News
‘Fuel of the future’: Gulf states bet on ‘green’ hydrogen
The investment in green hydrogen has not curbed expansion in oil and gas, with both the UAE and Saudi Arabia...
ACWA Power is preferred bidder for DEWA’s Hassyan Seawater Reverse Osmosis plant
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer said on Wednesday...
Business
Under UAE Presidency, COP28 will lead global efforts to protect the planet, safeguard future generations
"The UAE possesses essential capabilities such as modern infrastructure, a commendable track record in sustainability and environmental conservation, recognition as...
Economy
Most Read
Geostrategy
Saudi Arabia, France vow to promote secure, affordable and sustainable energy
RIYADH, SAUDI ARABIA – Prince Abdulaziz bin Salman and Agnes Pannier-Runacher, Minister for Energy Transition of the French Republic met...
- Addressing climate change, promoting secure, reliable, affordable, sustainable supplies of energy are shared strategic priorities of Saudi Arabia and France.
- Both countries acknowledge the importance of implementation of the United Nations Framework on Climate Change and the Paris Agreement.
Business
DEWA picks bidder for 1,800MW phase of Al Maktoum Solar Park
Dubai, UAE -- In a step towards its clean energy ambitions, the Dubai Electricity and Water Authority (DEWA), has announced...
- Designed to be the world's largest single-site solar park, it is projected to boast a remarkable capacity of 5,000MW by 2030, with an investment infusion totaling AED 50 billion.
- The upcoming 1,800MW 6th phase is anticipated to catapult the cumulative production capacity to 4,660MW as additional 433 MW capacity is currently under construction.
Geostrategy
US to invest $1.2 bn on facilities to pull carbon from air
The two projects -- in Texas and Louisiana -- each aim to eliminate one million tons of carbon dioxide per...
- Direct Air Capture (DAC) techniques focus on that CO2 emitted into the air, which is helping to fuel climate change and extreme weather.
- Each of the projects will remove 250 times more CO2 from the air than the largest carbon capture site currently in operation, the Energy Department said.