SEC, Emaar Economic City sign agreements
RIYADH, SAUDI ARABIA - The Saudi Electricity Company (SEC) and its subsidiary National Electricity Transmission (NET) have signed here two...
Business
UK announces Europe’s first high-tech uranium fuel plant
HALEU fuel is needed to power many of the next generation of advanced nuclear reactors, including so-called small modular versions...
Geostrategy
Business
Sono Motors, German start-up, to roll out solar car next year
The Sion, a five-person family car covered completely in solar panels, should enter into serial production in the second half...
- The car, which boasts a battery range of 305 kilometers, is aimed at families as well as car sharing services
- The large black Sion hatchbacks are covered with 456 solar cells which allow it to generate on average enough electricity over a week to power the car 112 kilometers
Business
Natural gas a weapon of war between Russia and Europe
Natural gas has emerged as a weapon of war between Russia and Europe since Moscow's February 24 invasion of Ukraine....
- On February 22, 2022, German Chancellor Olaf Scholz says he is suspending the Nord Stream 2 pipeline project with Russia.
- On March 23, Russian President Vladimir Putin bans European gas customers from paying their bills in dollars and euros.
Economy
7.1 GW of renewable energy under production in Saudi Arabia
Saudi Ministry of Energy has put forward renewable energy projects with a production capacity of 7.1 gigawatts (GWs), which are...
- The current production capacity of renewable energy projects is 700 megawatts.
- Energy projects are covered under the National Renewable Energy Program (NREP).
Economy
Saudi Arabia’s overall exports in May 2022 was US$38.5bn
The Kingdom of Saudi Arabia’s overall merchandise exports increased by 83.4 percent in May 2022 compared to May 2021, the...
- Saudi Arabia’s overall merchandise exports increased by 83.4 percent in May 2022 compared to May 2021
- The share of oil exports in total exports increased from 72 percent in May 2021 to 80.6 percent in May 2022
Economy
DEWA says 287 11kV substations commissioned in H1 2022
Dubai Electricity and Water Authority (DEWA) has commissioned 287 11kV substations in Dubai in the first half of 2022. This...
- These 287 11kV substations are primarily in Al Merkad, Jabal Ali First, Saih Shuaib 2, Al Jadaf and Burj Khalifa areas
- Building these substations included 177,875 working hours as per the highest quality, efficiency and safety standard
Geostrategy
‘Bilateral ties strengthened with UAE President’s France visit’
The French Ambassador to the UAE, Xavier Chatel, described the first official visit to France of UAE President Sheikh Mohamed...
- The French Ambassador to the UAE described the first official visit to France of UAE President as successful
- Sheikh Mohamed bin Zayed Al Nahyan's visit underscores deep-rooted friendship between the two countries
Business
French oil, shipping firms reduce prices under government pressure
French oil group TotalEnergies and shipping giant CMA CGM announced price cuts on Friday as demanded by the government amid...
- French oil group TotalEnergies and shipping giant CMA CGM announce price cuts
- The French government demanded that energy and transport firm cut prices amid calls for windfall taxes
Geostrategy
Putin, Saudi crown prince discuss oil as global energy market gets volatile
Russian President Vladimir Putin and Saudi Arabia's Crown Prince Mohammed bin Salman spoke about the oil market in a telephone...
- The Saudi-led OPEC oil grouping has been cooperating with a number of other oil-exporting nations including Russia for several years to better control the oil market
- The group, called OPEC+, introduced production cuts during the coronavirus pandemic that helped the oil market to recover from a crash in prices to below zero
Science
Testing of Barakah Nuclear Plant’s last unit successful
The Emirates Nuclear Energy Corporation has successfully completed the Hot Functional Testing on Unit Four, the last of its four...
- Emirates Nuclear Energy Corporation successfully completes Hot Functional Testing on the last of its four units of Barakah Nuclear Energy Plant
- Results demonstrate that all systems perform in accordance with the highest quality and safety standards under normal operating conditions
Economy
Global electricity demand slowing sharply: IEA
The agency said renewable sources of energy were growing faster than demand and replacing fossil fuels.
- The agency said renewable sources of energy were growing faster than demand and replacing fossil fuels
- The IEA said that Europe was gearing up to reduce its reliance on Russian fossil fuel imports by accelerating its clean energy transition
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
SEC, Emaar Economic City sign agreements
RIYADH, SAUDI ARABIA - The Saudi Electricity Company (SEC) and its subsidiary National Electricity Transmission (NET) have signed here two...
Business
Company News
Latest News
Oil majors still profitable even if 2022 super profits gone
From BP to ExxonMobil to TotalEnergies, none of the oil and gas majors have repeated the exceptional profits posted in...
Business
UK to issue hundreds of new oil and gas drilling licenses in North Sea
The announcement has angered environmental groups and comes amid an internal debate within the ruling Conservative party on green policies....
Geostrategy
UAE oil giant ADNOC pledges to ‘accelerate’ zero-carbon plan
ADNOC "is accelerating its decarbonization plan to advance its net-zero ambition to 2045, compared to its previous target of 2050,"...
Geostrategy
Most Read
Arts & Culture
Egypt energy-saving measures evoke satirical reaction among citizens
Sweltering without air conditioning during the day and plunged into darkness at night, many Egyptians have responded with anger and...
- After 11 days of daily blackouts, Prime Minister Mostafa Madbouli ordered civil servants to work from home once a week.
- He announced scheduled power outages at least through August, and proposed other solutions to Egypt's energy crisis.
Economy
Fire at substation in Iraq sparks nationwide power outage
Baghdad, Iraq--A fire at an electricity substation in southern Iraq triggered a nationwide power outage Saturday, authorities said, just as demand peaks...
- In spite of the country's vast oil reserves, Iraq continues to suffer from frequent power outages with its power grid incapable of meeting peak demand
- The electricity ministry said in a statement that the power grid experienced a total shutdown due to a fire that affected a transmission substation
Business
Aramco, 5 local firms to jointly work on project in Pakistan
ISLAMABAD, PAKISTAN - Five Pakistani state-owned companies are set to collaborate with Saudi Arabia’s Aramco to execute a $10 billion...
- The proposed joint venture will establish a mega refinery in Gwadar with a capacity of 400,000 barrels per day.
- The government of Pakistan has already approved a refinery policy for new projects in the country.