Hormuz disruption and weakening policy commitment dragged down Middle East transition readiness in 2026. Saudi Arabia bucked the trend with accelerated renewables and battery storage investment, WEF's Energy Transition Index said.

Dubai, UAE -- Annual inflation across the Organisation for Economic Co-operation and Development (OECD) accelerated to 4.4% in April from 4.0% in March, driven by a sharp rise in energy prices and higher consumer costs across most member countries. Headline inflation increased in 23 OECD countries, with the largest rises...

The asymmetry at the heart of this war’s economic geography is stark. The US imports relatively little oil through Hormuz. More than 80% of oil and LNG shipped through the strait in 2024 went to Asian markets, with China, India, Japan and South Korea the primary destinations, he adds.

Gulf Cooperation Council (GCC) countries continue to strengthen their position in global energy markets, supported by extensive natural resources, advanced infrastructure and sector expertise, according to data released by the GCC Statistical Centre. The data show that the region’s energy strategy is increasingly expanding beyond oil and gas production and...

The latest visit of the Canadian PM is a part of his efforts to find new markets for his nation’s products and forge sustainable trade relations outside of North America.

Bangkok, Thailand -- Call it the China power paradox: while Beijing leads the world in renewable energy expansion, its coal projects are booming too. As the top emitter of greenhouse gases, China will largely determine whether the world avoids the worst effects of climate change. On the one hand, the...

Dubai, UAE--Ten transformative technology solutions could change the way the world powers homes, grows food and secures freshwater, according to a new World Economic Forum report released today. Many of these critical technologies already exist but remain underused. Unlocking their potential as practical, scalable solutions to pressing climate challenges will...

Israel said Sunday it targeted an energy infrastructure site in Yemen's capital Sanaa, linked to the Iran-backed Huthi rebels behind repeated attacks on Israel during the Gaza war.

Washington, UAE -- Global gas flaring surged for a second year in a row, wasting about $63 billion in lost energy and setting back efforts to manage emissions and boost energy security and access. Flaring, the practice of burning natural gas during oil extraction, reached 151 billion cubic meters (bcm)...

In its latest annual report on the outlook for oil demand, OPEC sees global oil demand rising by 18.6 percent from 103.7 million barrels per day in 2024 to around 123 mbd in 2050.

Paris, France -- The potential of artificial intelligence is immense -- but its equally vast energy consumption needs curbing, with asking shorter questions one way to achieve, said a UNESCO study unveiled Tuesday. A combination of shorter queries and using more specific models and could cut AI energy consumption by...

IEA cited sluggish economic growth, global trade tensions, the rise of electric cars and the shift away from crude to produce power. Annual demand growth will slow from around 700,000 barrels per day (bpd) in 2025 and 2026 "to just a trickle over the next several years, with a small...

Washington, United States -- Facebook owner Meta announced Tuesday a 20-year nuclear energy agreement with US-based Constellation Energy to secure power from a nuclear plant in the state of Illinois. The investment marks big tech's latest move to meet surging electricity demand from artificial intelligence, with Microsoft, Google and Amazon...

The agreement was sealed at the presidential palace in Damascus in the presence of interim President Ahmed al-Sharaa and US ambassador Thomas Barrack. It aims to generate 5,000 megawatts. Syrian Energy Minister Mohammad al-Bashir called it a "historic moment" and a "turning point" for the country's shattered infrastructure.

Damascus, Syria -- Turkish Energy Minister Alparslan Bayraktar said Thursday in Damascus that his country would ramp up energy exports to Syria to help boost electricity supplies as its neighbor seeks to recover after years of war. "We want to triple our current electricity exports to meet Syria's electricity needs,...

Morocco on Monday signed deals with an Emirati-Moroccan consortium for energy and water infrastructure projects, which according to one of the companies involved were worth more than $14 billion.

Damascus, Syria - Syrian Energy Minister Mohammad al-Bashir said Friday Damascus and Ankara had reached a deal for Turkey to supply natural gas to the war-torn country via a pipeline in the north. "I agreed with my Turkish counterpart Alparslan Bayraktar on supplying Syria with six million cubic metres of...

Acquires a 24.1% interest in US firm Kimmeridge’s SoTex

Dubai, UAE -- A total of 47 international companies have shown interest in developing the seventh phase of the Mohammed bin Rashid Al Maktoum Solar Park, which is based on the independent power producer (IPP) model, said Saeed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA). Al...

Prime Minister Mohammed Shia al-Sudani oversaw "the signing of a Memorandum of Understanding as part of a strategic cooperation framework with US energy firm GE Vernova, his office said, calling it "the largest and most advanced electricity generation initiative in Iraq's history."

Dubai, UAE --  Abu Dhabi sovereign wealth fund ADQ has partnered with the American private equity firm Energy Capital Partners to invest more than $25 billion in 25 GW worth of energy projects to power data centers, mostly in the United States. ADQ and ECP, the largest private owner of...

Nicosia, Cyprus -- Cyprus and Egypt on Monday signed an agreement with an energy consortium to export gas from the Mediterranean island's offshore fields to Europe after being processed in the North African country. Egypt, alongside Italian energy giant Eni and France's TotalEnergies, have agreed to "collaborate to commercialise the natural...

This “responsible transition” is not only defined by the development principles, but primarily by a selective investment approach in our conventional business; we will continue to grow this where market fundamentals are healthy. This includes investing in gas and LNG (from upstream through midstream and downstream), which acts as a...

Smaller AI models save energy, reduce costs, and enhance data security but work alongside large models for advanced solutions.

Pavegen, a global kinetic energy company, unveiled its innovative “Solar+” tile in Dubai. This tile harnesses the power of movement, be it via walking, running, biking, or a wheelchair, with great commercial applications

Saudi Arabia anticipates a budget deficit of 2.3 percent of GDP in 2025. Estimates put total government revenues for 2025 at approximately US$320 billion, which would create a deficit of US$27bn.

Paris, France - OPEC said Tuesday that phasing out oil was a "fantasy", as the Saudi-led cartel forecast that demand would keep growing until at least 2050, a key year in the battle against climate change. The oil cartel's prediction runs counter to the assessment of the Paris-based International Energy Agency,...

New York, United States - Global oil demand is unlikely to fall by 2050 despite progress on renewable energy, the US oil and gas giant ExxonMobil said Monday, pointing to rising population and demand for energy worldwide. In a new report, ExxonMobil said it "sees a plateau in oil demand beyond...

Paris, France -- When Google announced this week that its climate emissions had risen by 48 percent since 2019, it pointed the finger at artificial intelligence. US tech firms are building vast networks of data centres across the globe and say AI is fuelling the growth, throwing the spotlight on the...

Employers must prioritize retention by understanding employee preferences for benefits, hybrid working, and workplace culture, as effective retention strategies enhance recruitment, boost positive ratings, and strengthen the employer brand, creating a virtuous cycle of talent acquisition and retention, he adds.

Algiers, Algeria - Algeria's state oil company announced Thursday it signed a memorandum with ExxonMobil to develop two gas fields, a move an analyst called "a big step" for the country's energy ambitions. The two companies plan to "study the existing opportunities to develop the hydrocarbon resources in the Ahnet basin...

Iraq has now become self-sufficient in liquid gas and the surplus is usually exported abroad, strengthening the Iraqi economy.

Riyadh, Saudi Arabia -- UpLink, the World Economic Forum community dedicated to supporting early-stage impact-focused entrepreneurs, has announced the launch of four initiatives aimed at accelerating the transition to a circular carbon economy, addressing the growing demand for clean energy minerals, rejuvenating vital ocean ecosystems, and leveraging quantum computing for...

Riyadh, Saudi Arabia -- Saudi Arabia has called for a "real commitment to a two-state solution that is a credible, irreversible path to a Palestinian state". At the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development aimed at dialogues to tackle the most pressing geopolitical, social...

The deal involves sponsorship rights for multiple events including the 2026 Men's World Cup and the Women's World Cup the following year. "We are delighted to welcome Aramco to FIFA's family of global partners," FIFA president Gianni Infantino said in a joint statement released by the energy company.

Tehran, Iran - Iran managed to sell an average of 1.56 million barrels per day during the first quarter of this year, primarily to China, data from Vortexa reveals. This marks the highest export level since the third quarter of 2018. The success in oil exports highlights the challenges faced...

Vast swathes of land across the desert region are seeing the sprouting of new special zones to entice big business to set up shop. But can the model work to power the GCC economy?

Agile work models and diverse skill demands propel MENA's freelance economy, empowering businesses to thrive amid modernization and digital transformation.

LOS ANGELES, US – The booming use of electric vehicles in parts of California is reducing CO2 emissions in those areas, a study showed on Thursday, bolstering a key pillar of the state's drive towards net zero. Scientists at the University of California, Berkeley, say a network of sensors set up...

MOSCOW, RUSSIA – Prime Minister Mikhail Mishustin said the country became the world’s fourth-biggest LNG producer last year. The Russian Prime Minister said this in an annual report at the State Duma (lower house of the parliament), TASS reported. “Energy is adjusting gradually as well. A serious adjustment of logistics...

ABU DHABI, UAE - Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, said that under the leadership of President Sheikh Mohamed bin Zayed Al Nahyan the Emirates is at the forefront of leveraging cutting-edge technologies like AI to drive sustainable growth and progress, particularly in the...

ABU DHABI, UAE – Abu Dhabi National Energy Company (TAQA), together with JERA Co., Inc on Thursday announced that they have entered into a power and steam purchase agreement with Saudi Aramco Total Refining and Petrochemical Company (SATORP), a joint venture company owned by Saudi Arabian Oil Company (Saudi Aramco)...

Speaking at the CERAWeek conference in Houston, Saudi Aramco Chief Executive Amin Nasser said that the current transition strategy is visibly failing on most fronts. adding that this is "hardly the future picture some have been painting." Fossil fuels accounted for 82% of global consumption last year.

Abu Dhabi, UAE--The Organisation of the Petroleum Exporting Countries (OPEC) has called for increased investments in the oil industry to meet global energy demands and sustain economic growth. According to its secretary general, Haitham Al Ghais, these investments are crucial for ensuring reliable energy supplies for current and future generations....

AL-DHAHRAN, SAUDI ARABIA – Aramco President and CEO Amin Nasser outlined the potential for stronger collaboration with Chinese partners in his speech on Monday at the China Development Forum in Beijing. Nasser underscored the possibility of fostering broader economic globalization by strengthening ties with Chinese partners and identified specific areas...

BRUSSELS, BELGIUM – In the fourth quarter of 2023, the EU imported US$120.5 billion (€111.3 billion) worth of energy products amounting to a total of 187.9 million tonnes. Compared with the same period in 2022, imports decreased both in value (-34.2 percent) and in net mass (-11.7 percent), according to...

Abu Dhabi, UAE – The Emirates Nuclear Energy Corporation (ENEC) today announced that its operations and maintenance subsidiary, Nawah Energy Company, has safely and successfully connected Unit 4 of the Barakah Nuclear Energy Plant to the UAE’s transmission grid. The grid connection of the fourth reactor at the nuclear energy...

Ankara, Turkey - Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced on Friday the signing of a memorandum of understanding between Turkiye and Turkmenistan, focusing on collaboration in the natural gas sector and hydrocarbon partnerships. Under the agreement, the initial phase will involve the transportation of up to two...

Copenhagen, Denmark - Developing countries should not have to set stricter targets for cutting their carbon emissions before funds are available to help them transition to cleaner energies, the chairman of this year's UN climate negotiations said Thursday. Addressing a ministerial climate meeting in Copenhagen, Azerbaijan's Mukhtar Babayev said "there is...

MOSCOW, RUSSIA – Russia does not see the risk of trading oil at a loss due to the redistribution of energy flows to the East - growing local markets will be able to "absorb" its supply, Russian Foreign Minister Sergey Lavrov said. Lavrov said this in an interview for the...