The Gulf International Laboratory aims to localize industries, enhance local content and build capabilities to boost competitiveness of the Kingdom's economy.

Brent, the international benchmark, and its US counterpart WTI, which had been down earlier in the day, jumped more than two percent after Russian deputy prime minister Alexander Novak said production would be cut by 500,000 barrels per day, or five percent of output, in March. "Crude prices reacted positively...

Output slipped by 2% to 2.04 million barrels per day of oil equivalent.

DUBAI, UAE -  Dubai Electricity and Water Authority (DEWA) has updated its strategic plan, adding achieving net-zero by 2050 to its vision. This move is as per its commitment of keeping pace with the government plans and strategies that aim to achieve net-zero by 2050 and the UAE’s efforts to...

The company posted annual loss of $2.5 billion.

Iraq, a close ally of Iran, also has strategic relations with the United States, which still has soldiers in the country as part of the international coalition facing the Islamic State group. On Thursday, Iraqi foreign minister Fuad Hussein hosted Saudi Foreign Minister Prince Faisal bin Farhan. No mention was...

ABU DHABI, UAE - Ruler's Representative in Al Dhafra Region and Chairman of the Board of Directors of the Environment Agency - Abu Dhabi (EAD) Sheikh Hamdan bin Zayed Al Nahyan has emphasized the UAE’s commitment to achieving sustainability and protecting and preserving natural resources for future generations. In a...

The United Arab Emirates, France and India have issued a joint statement announcing the establishment of a trilateral cooperation initiative and the roadmap to begin its implementation. In the statement the three countries said the initiative will promote the design and execution of cooperation projects in various fields, including energy...

AMMAN, JORDAN - Chairman of the Jordan Chamber of Commerce (JCC), Khalil Haj Tawfiq said Iraq is an "important" trade partner and gateway for Jordan's economy. Haj Tawfiq said, "Jordan and Iraq have wide, prolific potentials, fields and grounds to build economic integration, in light of the strong brotherly relations,...

Pipes and fittings, valves, bends and cladded pipes, industrial pumps, batteries, pipes and fittings, and many more goods will be manufactured locally.

ABU DHABI, UAE - UAE Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan received French Minister of Europe and Foreign Affairs Catherine Colonna. During the meeting, which took place in Abu Dhabi, the two sides discussed bilateral relations and available opportunities for widening their cooperation,...

MUNICH, GERMANY - The heating plant in Munich's southern Sendling neighborhood has been run for more than a century on gas, often imported from far away. But increasingly, it is the hot waters from deep underground the station that provide the energy. Tacked on to the side of the original 19th-century...

Iraq admitted it had differences with France's TotalEnergies over a US$10-billion contract, including over the distribution of investments, but expressed hope they can be resolved through talks. "We have given ourselves time to continue the dialogue and reach a satisfactory solution for the parties involved regarding certain points of contention,"...

The budget deficit will swell to five billion dinars (more than $16 billion) for the year starting in April, up from the $10.3 billion predicted for the current fiscal year, the finance ministry said. Kuwait, a major oil producer and member of the OPEC cartel, has the Gulf's only fully...

The majority of the EU's response involves repackaging already existing funds, a stop-gap measure that has earned much criticism. German MEP Markus Ferber described the proposals on Wednesday as "old wine in new bottles" and "predictably disappointing".

Dubai, UAE– Dubai witnessed a 5.5 percent increase in energy demand in 2002, from 50,402 GWh to 53,180 GWh, said Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA). The company has outperformed major European and American utilities with a reduced line loss of 2.2...

ABU DHABI, UAE - One of the world's biggest solar plants will become fully operational this year in the oil-rich United Arab Emirates, months before it hosts UN climate talks, a partner company said Tuesday. The UAE, a major oil exporter, is spending billions to develop enough renewable energy to cover...

Despite the milestone, spending on energy transition technology must immediately triple to meet the target of net-zero emissions by 2050 to combat climate change, according to research group BloombergNEF. Investment in sectors such as renewables, nuclear, zero-emission vehicles or recycling projects totaled $1.1 trillion last year, matching spending on fossil...

Production of the fuel reached 3.1 trillion cubic feet for the month of October, according to the most recently available US data, an all-time high and up almost 50 percent from the level a decade ago.

Supply of diesel to Europe from the US and the emerging refinery hub in the Middle East may make up some of the missing barrels from Russia, but a shortfall seems likely, not least considering the prospect for a strong recovery in China leading to lower export quotas, he adds.

Saudi Arabia plans to invest more than US$266 billion to produce cleaner electricity and expand its power grid, the kingdom's energy minister said. Speaking at a forum organized by Saudi oil giant Aramco, Prince Abdulaziz bin Salman said the world's biggest crude exporter was also looking to become a global...

The UAE is pushing the merits of carbon capture -- removing carbon dioxide as fuel is burned, or from the air.

Most analysts expect a 50-basis point hike in March but, with inflation starting to ease, there are already signs of a debate among policymakers about when to slow the pace. ECB board member Fabio Panetta, known for his dovish stance, said the bank should not commit to any particular hike...

The Kingdom is studying the feasibility of investing in the futuistic UK project, which if materialized may play an important role in combating climate change.

BAGHDAD, IRAQ -  First Deputy Speaker of Parliament Mohsen Al-Mandalawi said that the tourism sector in Iraq has all the ingredients for success. Al-Mandalawi made the statement while meeting with the Association of Travel and Tourism Companies in Iraq, a statement issues by the  media office of the First Deputy...

Italian Prime Minister Giorgia Meloni arrived in the Libyan capital Tripoli for talks on energy and migration, Libyan state media said. Meloni's trip - her second to a North African country this week - is the first by a European leader to war-battered Libya since her predecessor Mario Draghi's visit...

Solar-photovoltaic panel in a GCC country produces twice as much output as it would in Germany or any similar European country, ZOLA Electric CEO Bill Lenihan tells TRENDS.

Baghdad, Iraq - Iraq's Minister of Electricity, Ziyad Ali Fadel said the national grid has lost 7,500 megawatts in the past days due to curtailed Iranian gas imports which led to a decline in processing hours. He said the memorandum of understanding signed with the German company Siemens will lead...

The mission has been launched during what Armenia describes as a "humanitarian crisis" ravaging the breakaway region of Nagorno-Karabakh. Since mid-December, a group of Azerbaijanis have been blocking the only road into Karabakh from Armenia to protest what they claim is illegal mining causing environmental damage, leading the mountainous region...

BAGHDAD, IRAQ -  Iraqi Prime Minister Mohammed Shia al-Sudani will travel to France on Thursday for energy and security talks with President Emmanuel Macron, he told AFP. Sudani, in written answers to AFP, said he wants to "activate the agreements" between oil-rich Iraq and France "particularly in the transport, energy and investment...

DUBAI, UAE - Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), received Christian Klein, CEO and member of the Executive Board of SAP SE. The meeting was attended by Marwan bin Haidar, Executive Vice President of Innovation and The Future at DEWA, and Mohammad...

Ras Al Khaimah, UAE -- The government of Ras Al Khaimah became the first in the world to achieve the ISO 50001 energy management certification for all its 19 entities. The accomplishment was announced at the World Future Energy Summit 2023, held as part of Abu Dhabi Sustainability Week (ADSW)....

Algiers, Algeria--Italian Prime Minister Giorgia Meloni agreed Monday to strengthen energy cooperation with Africa's top gas exporter Algeria, the latest European country seeking supply deals to help reduce reliance on Russia. "Facing the great energy crisis that Europe in particular is experiencing, Algeria could become a leader in production, certainly African...

Egypt's Planning Minister Hala al-Saeed said at a signing ceremony that the financing cooperation portfolio between Egypt and the corporation had reached $14.5 billion.

Robust monetary policies curtail the impact of geopolitical tensions, energy crisis, worsening inflation rates and market volatility on the region during 2022, a report highlights.

It will target Qatar-based small and medium enterprises.

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has implemented the SAP Audit Management System (TAWKEED), becoming the first integrated utility in the Middle East and Africa (MEA) region to implement this best-in class solution. TAWKEED is used for risk-based audit planning, planning individual audit engagement, communicating results to...

On Friday the California Energy Commission said 18.8 percent of new cars sold in the state in 2022 were EVs, PHEVs or fuel cell electric vehicles, all of which California includes in its zero-emission category. Ten years ago, that figure was two percent. "California continues to lead the zero-emission vehicle...

Abu Dhabi, UAE--Masdar has signed agreements with three Angola, Uganda and Zambia to develop renewable energy projects with a combined capacity of up to 5 gigawatts (GW). The agreements were signed under the umbrella of the Etihad 7 initiative, a UAE-led initiative that aims to raise public- and private-sector funds...

The country will also focus on environmental sustainability and showcasing the UAE’s commitment towards fostering a global collaboration for innovative environmental solutions.

ABU DHABI, UAE - ADNOC Distribution on Friday announced plans to reduce its carbon intensity by 25 percent by 2030. This will be implemented by putting sustainability at the core of its day-to-day operations to future-proof its business and deliver sustainable long-term shareholder value. Central to ADNOC Distribution's enhanced sustainability...

Public resistance to a carbon tax has prevented many nations from establishing carbon pricing via taxation, but taxation is not the only way to deter emissions, she highlights, while pointing out to numerous barriers that have impeded the flow of private capital to decarbonization projects around the world.

The rhetoric has shifted from talk of a recession in the 20-nation club to "a small contraction", she said, with some major economies like Germany possibly dodging a contraction altogether.

DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer received a high-level delegation from the EDF Group (Électricité de France) headed by Luc Remont, CEO and Chairman of the Board of Directors. Al Tayer also received a delegation from Cuba headed by...

There is a need to find a route to ending the Russia-Ukraine conflict, otherwise global uncertainty would continue. "This is complex question, but we will have to talk about how we find a pathway to ending the conflict," adds Prince Faisal bin Farhan Al Saud in Davos.

Baghdad, Iraq--Iraq has begun constructing 400 energy plants of high-quality specifications in all regions across the country. In a press statement, Iraqi Minister of Electricity Ziyad Ali Fadel said that the Ministry has discussions and contracts with General Electric and other American companies to implement some of these projects. He...

"It is unfair that many developing countries are demanded not to develop their special resources and to be independent in the field of energy, while they are still in need of development. Many countries see that rich nations are requesting them to stop developing their oil resources," he adds.

The US Inflation Reduction Act signed by President Biden last year, is the most significant climate pact since the Paris Agreement in 2015, says IEA Executive Director Fatih Birol.

ABU DHABI, UAE - Statistics Center – Abu Dhabi (SCAD) and the Abu Dhabi Department of Energy (DoE) have signed a service-level agreement that allows collaboration between the two parties in the field of statistical integration. This is a part of a strategy to develop an advanced statistical ecosystem which...

The world’s top current risks are energy, food, inflation and the overall cost of living crisis. Over the next two years, the cost-of-living crisis remains the number one threat, followed by natural disasters and trade and technology wars, she adds, quoting the WEF's Global Risks Report 2023.