The formation of the bilateral body to govern the Partnership for Accelerating Clean Energy (PACE) will be composed of private sector and government representatives from both countries. Its goal is to catalyze $100 billion in financing, investment and other support and deploy 100 gigawatts of clean energy by 2035.

“The COP28 UAE is focused on delivering concrete and pragmatic solutions to ensure 1.5°C remains alive and within reach. This will require a global effort to slash emissions by 43 percent globally by 2030,” she said while heading the UAE delegation to the 13th session of the IRENA in Abu...

The two sides discussed various paths of cooperation and development in the investment, economic, scientific, cultural and advanced technology fields.

DAVOS-KLOSTERS, SWITZERLAND  – As part of the World Economic Forum Annual Meeting 2023, this year’s Open Forum Davos from January 16-20 will focus on the environment and climate change. The theme at the Open Forum is Our Environment: Lessons, Challenges and Opportunities. This would be the Open Forum’s 20th year...

BAGHDAD, IRAQ  - Iraqi Parliamentary Speaker Mohammed al-Halbousi said that an oil pipeline from Basra port to the Jordanian port of Aqaba will soon be operational pointing to many areas of cooperation between the two countries. Al-Halbousi, who spoke at a joint press conference at Baghdad airport with Jordan's Lower...

UAE Minister of Energy Suhail bin Mohammed Al Mazrouei highlighted the UAE Energy Strategy 2050, the first unified energy strategy by the UAE, which aims to integrate the renewable and clean energy mix to achieve a balance between economic needs and climate goals, in addition to reducing dependency on other...

Abu Dhabi, UAE-- The UAE has stressed the need for speeding up new investments in the energy sector in order to meet rising global demand as a number of OPEC+ member countries cut output. Speaking on the sidelines of the Global Energy Forum in Abu Dhab, Suhail bin Mohammed Al...

ABU DHABI, UAE -  UAE Minister of Energy and Infrastructure and Romanian Minister of Energy discussed ways to enhance cooperation in the energy and climate action fields between the two countries. UAE minister Suhail bin Mohammed Al Mazrouei received Romanian Minister  Virgil-Daniel Popescu at the Energy Ministry's headquarters in Abu...

ABU DHABI, UAE - European countries will eventually resume higher imports of Russian gas, Qatar's energy minister and gas company CEO predicted on Saturday, warning that market volatility could last for years. Russian gas exports to Europe plunged after Moscow's invasion of Ukraine but Saad Sherida al-Kaabi, head of QatarEnergy,...

Abu Dhabi, UAE--The president of this year's COP28 climate talks, who heads one of the world's biggest oil companies, on Saturday urged a focus on lower emissions, warning global energy needs were set to accelerate. Sultan Al Jaber, the United Arab Emirates' special envoy for climate change and CEO of...

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has organized 157 training courses and awareness sessions on occupational health and safety during 2022, with the participation of 2,170 employees from various divisions. DEWA also organized its 20th Internal Health and Safety Week, which featured various activities in all aspects...

BAGHDAD, IRAQ - Iraq's Prime Minister Mohammad Shia al-Sudani left Thursday for Berlin to meet with German Chancellor Olaf Scholz and discuss projects to address chronic power shortages, the premier's office said. Despite its oil riches, Iraq is beset by crumbling infrastructure, endemic corruption and decades of war. Dependent on its...

Consumer inflation in the United States slipped in December to the lowest level in over a year, government data showed, signaling the worst of red-hot price increases may be over. Inflation has eased for a sixth consecutive month alongside the Federal Reserve's aggressive campaign, fueling hope for reprieve from steeply...

GENEVA, SWITZERLAND– The current energy crisis is driving inflation, slowing economic growth, creating social turmoil and the world should not add to this crisis by actions which derail the energy transition, a World Economic Forum (WEF) report says. The report said that steps such as increasing production of electricity from...

Brent crude rose 50 cents, or 0.6%, to $83.17 per barrel by 0135 GMT, while US West Texas Intermediate crude also rose 50 cents, or 0.7%, to $77.91 per barrel.

The study said impelling fossil fuel firms to use technologies to suck carbon from the air and bury it back in the ground would be a cost-effective decarbonization strategy.

The year 2022 witnessed several deals involving Gulf nations and leading natural gas consumer countries that seek to secure their LNG supplies in both near and distant future.

Some investment trends that emerged at the tail end of 2022 — clean energy, consumer staples, retail, and infrastructure — will gain further impetus in 2023, says an expert.

The refinery production from high-octane gasoline will be a grade of 95, with a capacity ranging from 8 to 9 million litres per day.

DUBAI, UAE  - DEWA has completed 76.8 percent work on the water reservoir project in Hatta. The project has a storage capacity of 30 million imperial gallons (MIG) and is being built at a cost of approximately US$23 million (AED86 million). It is expected to be completed in April 2023....

Seven industries - advanced manufacturing services, retail, banking, energy, healthcare, consumer products, and automotive - are poised to be the key gainers, says a report.

AMMAN, JORDAN -  Jordan's total imports of Iraqi oil between September 2021 to December 2022 amounted to 3.65 million barrels, equivalent to 490,000 tons of crude oil."Jordan imports Iraqi crude oil according to the memorandum of understanding (MoU) for the processing of crude oil signed between the Jordanian and Iraqi...

The setback comes despite a record 4.7 percent drop in energy consumption last year, partly in response to soaring fuel prices because of the war in Ukraine. But the energy saving gains were wiped out by the government's decision to burn more coal and oil to make up for the...

The UAE Government will invest AED600 billion ($163.36bn) in renewable energy by 2050 to meet the country's growing energy demand from clean and sustainable resources.

At present, the data center industry as a whole uses approximately 150 billion kilowatt-hours of electricity annually, which is about 3 percent of the world’s electricity usage.

EU nations have adopted a mechanism to cap natural gas prices, but analysts say it will likely have only a limited impact on reducing what businesses and households pay.

TUNIS, TUNISIA - Tram and bus workers in the Tunisian capital staged a strike over delays in salaries and the lack of an end-of-year bonus Monday, creating traffic jams across Tunis. The strike is the latest in a string of similar actions as Tunisia grapples with a grinding economic crisis, with...

The year 2022 was crowned with excellent ratings for the Qatari economy, as the S&P's credit rating agency raised the rating of the State of Qatar from "-AA" to "AA" during the year 2022, and Moody's credit rating agency raised the outlook for the country from stable to positive.

DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) has announced that the production capacity of clean energy has reached 2,027 megawatts (MW) which is about 14 percent of Dubai’s total power production capacity of 14,517 MW. Saeed Mohammed Al Tayer made the announcement during his...

Japan imported a total of 77.53 million barrels in the month, according to the Japanese Ministry of Economy, Trade and Industry.

DUBAI, UAE  -  Dubai Courts signed a Memorandum of Understanding with Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority, to enhance their collaboration in digital transformation and cybersecurity. Leveraging on Moro’s capabilities in the digital security field, the MoU will serve the...

BEIRUT, LEBANON  -  An attack in eastern Syria killed 10 oil field workers, state news agency SANA reported on Friday, a day after Syrian Kurdish-led forces announced an offensive against the Islamic State. In addition to the nearly dozen dead, "two others have been wounded in a terrorist attack that targeted...

In Britain, the average domestic energy bill has roughly doubled over the last 12 months. That has helped push inflation to the highest level in four decades, in turn creating a cost-of-living crisis as wages fail to keep pace, despite the government's partial subsidy for fuel.

The TESTIAC project was implemented to increase the electricity generation capacity of gas turbines during high ambient temperatures in summer by using chilled water to cool the inlet air to gas turbines.

The price ceiling of $60 per barrel agreed by the European Union, G7 and Australia came into force in early December and seeks to restrict Russia's revenue.

DUBAI, UAE -  The Dubai Electricity and Water Authority (DEWA) under-construction pumped-storage hydroelectric power plant site in Hatta is 58.48 percent complete. This is the first station of its kind in the GCC, with investments of up to US$387 million (AED 1.421 billion). The project is planned for completion in...

Kuwait City, Kuwait-- Kuwait National Petroleum Company has exported the first shipment of the advanced diesel fuel to the European markets in light of the severe shortage of energy sector in the continent. Kuwaiti media reports said the company shipped 66,000 tons, and the shipment was produced with special specifications...

Seeking to deepen energy ties, Saudi Arabia and Japan have signed two sets of cooperation agreements in the fields of hydrogen, fuel ammonia and carbon recycling. The agreements were the latest in Japan's efforts to develop its large-scale supply chains of hydrogen and fuel ammonia in the Middle East.

DUBAI, UAE - The ninth Sustainability Report 2021 issued by Dubai Electricity and Water Authority (DEWA) highlights its efforts and achievements in supporting sustainable development in all its economic, social and environmental aspects. It introduces partners, relevant entities and all stakeholders to its performance and practices in sustainability. The report...

Rabat, Morocco - UAE and Morocco discussed ways of boosting their cooperation and investment opportunities in industry, economy, investments, culture, and tourism. The discussion occurred between Sultan Ahmed Al Jaber, UAE's Minister of Industry and Advanced Technology and Aziz Akhannouch, Prime Minister of Morocco, in Morocco. The visit is a...

A survey undertaken in Germany has revealed that consumers are heading into 2023 feeling upbeat as government interventions take some of the sting out of soaring energy costs. Pollster GfK said its forward-looking survey of around 2,000 people inched up by 2.3 points to reach minus 37.8 points for January.

In all economic spheres from financial to commodities, credibility is a key ingredient to building the trust and confidence that lead to the stability of markets. Without credibility, markets become more volatile and less attractive for all types of participants, adds Prince Abdulaziz bin Salman.

Algeria "doesn't support the idea of limiting prices", Energy Minister Mohamed Arkab said, speaking a day after EU energy ministers agreed a temporary ceiling to mitigate a severe energy crunch following Russia's invasion of Ukraine. "Energy markets must stay free so upstream" investments can continue, he told a press conference,...

TEHRAN, IRAN - Iran's foreign minister said Monday that a summit to take place this week in Jordan will be a "good opportunity" for negotiations aimed at restoring the 2015 nuclear accord. On-off talks to revive the deal, formally known as the Joint Comprehensive Plan of Action (JCPOA), started in April...

Dubai, UAE--A UAE delegation led by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade is on a visit to Scotland to discuss renewable energy projects and other potential areas of cooperation, such as science. The delegation included Rashid Abdul Karim Al Balooshi, Under-Secretary of Abu Dhabi...

Germany plans to open four more government-funded LNG terminals over the next few months as well as a private terminal in the port of Lubmin.

AMMAN, JORDAN - Jordan has arrested dozens of people accused of involvement in protests against rising fuel prices in which a senior police officer was gunned down, the country's security agency said Saturday. Colonel Abdul Razzaq Dalabeh, the deputy police chief of Maan province, died of a gunshot to the head...

“The UAE is Germany's most important trading partner in the region, with German exports to the UAE totalling US$8.4 billion in 2021. And for the year 2022 [first 9 months], Germany's imports from the UAE increased 67 percent year-on-year, already reaching US$1.3 billion,” adds Alexander Schönfelder.

The EU summit was to also examine the situation, and consequences in Europe, of Russia's war in Ukraine, which European Council President Charles Michel said was at "the heart of our concerns".

Ifo's positive outlook came a day after a closely watched survey showed German investor confidence rising again in December.