Qatar energy minister also called on governments and multilateral institutions to condemn sabotage and military attacks on energy infrastructure or electricity networks.

The EU's 27 member states have been squabbling for months over measures to lower energy bills as winter nears.

Saudi Crown Prince, Prime Minister and Chairman of the Council for Economic and Development Affairs Prince Mohammed bin Salman bin Abdulaziz announced the launch of the Global Supply Chain Resilience Initiative. GSCRI aims to make Saudi Arabia a location of choice for leading global industrial companies looking to improve business...

The Future Investment Initiative (FII) was launched in 2017 as an economic coming-out party for the world's largest crude exporter, which is trying to diversify away from oil.

Traditionally, GCC trade was focused on the West. However, now it is moving to the East. This eastward shift is not too surprising given the continuing travails of many developed Western economies. With the sluggish recovery from the financial crisis in the EU and the US, Gulf economies have had...

The fear of the global organizations such as International Energy Agency that the OPEC+ decision would increase energy security risks worldwide, leading to higher prices and volatility, and potentially ending up being the tipping point for a global economy was proved wrong, he adds.

Energy restrictions were "forcibly applied" in several regions, including the capital Kyiv and its surrounding region, Ukrenergo said. In western Ukraine, electricity and water supplies were disrupted in parts of the Volyn region, according to its governor. The city of Khmelnitskyi was without power and the city council called on...

Prince Abdulaziz is also the Chairman of the Ministerial Committee for Economy and Investment in the Saudi-Indian Strategic Partnership Council.

The meeting comes amid a global dialogue about energy security and just weeks ahead of the 2022 UN Climate Change Conference (COP27).

A planned underwater energy pipeline linking Barcelona in Spain and Marseille in France could take up to seven years to build, Spain's energy minister said.

Dubai Electricity and Water Authority (DEWA) recorded substantial growth of 22 percent in investments allocated to transmission substations during the first half of 2022, compared to the same period last year.

According to ship tracking data from Refinitiv, about 289,000 tonnes of gasoil will be loaded from South Korea and China to northwest Europe.

The International Energy Agency has said that global carbon dioxide emissions from fossil fuel combustion will grow just one percent this year despite concerns that the energy crisis could lead countries to slow their transition to renewables. The IEA predicted CO2 emissions would stand at 33.8 billion tonnes in 2022.

This would be the eighth marine service station in the emirate.

Skyborn Renewables is the world’s largest private offshore wind developer.

Thick black smoke sometimes billows from its red-and-white chimneys, leaving a grey haze in the air above the Zouk Mikael industrial district where the toxins remain trapped by a nearby mountain chain. Zeina, aged 40, says she lost her younger sister and a cousin to pulmonary fibrosis and that two...

Beyond oil and gas, Gulf companies have made some strategic investments in sectors with strong potential for growth, including fintech, e-commerce and logistics. For example, in 2020, Saudi fintech startup Tamara established operations in Vietnam, and the UAE's B2B e-commerce provider Distichain set up a base in Singapore.

Aiming to bolster cooperation on renewable energy, Morocco and the European Union have signed a "green partnership" deal in order to offer alternatives for European nations that are trying to wean themselves off fossil fuels, whose prices have soared in the wake of Russia's invasion of Ukraine.

Major global equities rose, with sentiment soothed after upbeat US earnings and Britain shredded its controversial budget. Analysts pointed to better-than-expected reports from Goldman Sachs and Johnson & Johnson as a positive driver for stocks. On Wall Street, the Dow Jones jumped two percent after a day of strong trading...

The announcement comes after the IMF affirmed that the Kingdom's economic prospects are positive in the short and medium term.

Fuel workers voted to continue stoppages at several refineries run by TotalEnergies, the coordinator for the hard-left CGT union Eric Sellini said, rejecting a pay package agreed between the group's management and mainstream unions. Three out of seven of the country's oil refineries and five major fuel depots are affected,...

UAE's Ministry of Energy and Infrastructure signed a Memorandum of Understanding with its counterpart in Chile to exchange knowledge and expertise in energy and advance this vital sector locally and globally.

"As with the Covid-19 pandemic, it is once again the most vulnerable that are paying the price of world events. Combined crises are expected to throw an additional 75 to 95 million people into extreme poverty this year alone," Olivier De Schutter, the UN special rapporteur on extreme poverty and...

US National Security Advisor Jake Sullivan told CNN on Sunday that Biden would "act methodically, strategically" in re-evaluating US-Saudi relations, adding that the US leader had "no plans" to meet the crown prince at a November G20 summit in Indonesia. Russell Lucas, a Middle East expert at Michigan State University,...

Now is the time for emerging market policymakers to batten down the hatches. Eligible countries with sound policies should urgently consider improving their liquidity buffers by requesting access to precautionary instruments from the Fund, adds the IMF's Economic Counsellor Gourinchas.

Chemical companies in the Gulf region are likely to cope relatively well with the current stresses of rising rates and higher energy costs, says a recent report.

The hard-left CGT union, which launched the industrial action three weeks ago, said that workers at three TotalEnergies sites had decided to extend their strike.

Iran has rejected allegations that it has supplied Russia with weapons "to be used in the war in Ukraine", its foreign ministry said. Kyiv and many of its Western allies have accused Moscow of using Iranian-made drones in attacks on Ukraine. The topic is expected to be discussed by European...

Berlin, Germany - Germany on Friday said it had filled its gas reserves to 95 percent of capacity faster than expected as it prepares for a winter deprived of Russian energy supplies. Europe's largest economy had been heavily dependent on Russian gas and has raced to bolster its reserves after...

Large US banks reported a round of solid quarterly profits, but cautioned of rising recession risks as the economy absorbs higher inflation and a dramatic shift is central bank policy. JPMorgan Chase set aside US$808 million in case of bad loans, while Citigroup reserved for $370 million in potential losses...

Russian oil giant Rosneft has filed a complaint against the German government for taking control of its German-based refineries, a court said, as energy tensions run high following Moscow's war in Ukraine.

The fund's comments, in its latest Fiscal Monitor report, come as food prices have surged by half since 2019 while energy bills have soared in the wake of Russia's invasion of Ukraine. Countries spent heavily to protect their economies during the pandemic, then faced supply chain issues as they emerged...

The Druzhba (Friendship) pipeline network was started in the 1960s and now covers 5,500 kilometres, pumping oil from the Urals to Europe through two main branches via Belarus and Ukraine. The leak on the Druzhba pipeline comes after four leaks were discovered in the undersea Nord Stream gas pipelines from...

MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer received Consul-General of Canada to Dubai and the Northern Emirates Jean-Philippe Linteau at GITEX Global 2022.

Stock markets and oil prices slumped as investors grow fearful that more big interest rate hikes will tip economies into deep recessions. The mood darkened also on the worsening Ukraine war and weaker demand expectations in China. Analysts said US consumer price index data released later this week will be...

German Chancellor Olaf Scholz criticized US climate protection plans that would shield domestic companies from foreign competition, saying they could trigger "a huge tariff war". Unease has been growing abroad about US President Joe Biden's landmark "Inflation Reduction Act", which includes tax breaks for US-made electric cars and batteries.

Current trends in the automotive sector such as zero-emission vehicles and carbon-neutral manufacturing demonstrate the growing importance of sustainability, says a key BMW Group Middle East official.

The Algerian and French prime ministers hailed a "new dynamic" as they launched a joint economic forum during a visit to Algiers by France's Elisabeth Borne. The French PM's two-day trip to Algeria comes just weeks after President Emmanuel Macron concluded his own three-day visit in August, following months of...

The International Atomic Energy Agency (IAEA) said on Saturday that the plant -- Europe's largest nuclear power station -- had lost its last source of external power after renewed shelling and was relying on emergency generators.

On Monday, Turkey said it had signed a memorandum of understanding on exploration for hydrocarbons in Libya's seas with the authorities in Tripoli. "This agreement threatens stability and security in the Mediterranean," Greek Foreign Minister Nikos Dendias said in Cairo, where he met his Egyptian counterpart Sameh Shoukry.

In a statement Sunday, Energean said that "following approval received from the Israeli Ministry of Energy to start certain testing procedures, the flow of gas from onshore to the FPSO has commenced", referring to the Karish floating production storage offloading facility.

Frankfurt, Germany— Germans in the coastal state of Lower Saxony vote in a closely-watched regional election Sunday, seen as a key test for Chancellor Olaf Scholz's Social Democrats amid an acute energy crisis. Polls open at 8:00 am (0600 GMT) and close at 18:00, with latest surveys putting Scholz's centre-left SPD...

Dubai Electricity and Water Authority (DEWA) has invited international developers to send their Expressions of Interest (EOI) to implement the sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park based on the Independent Power Producer (IPP) model.

Britain, however, relies on gas to create a large proportion of electricity and is therefore particularly exposed to the soaring prices in the wake of Russia's attack on Ukraine. Gas-fired power plants produce just over 40 percent of Britain's electricity requirements.

The Barakah Plant is spearheading the decarbonization of the UAE’s power sector by generating clean electricity and forms key component of the UAE’s Net Zero 2050 Strategy.

EU leaders meeting in Prague looked to bridge divisions on how to tackle soaring energy prices as they grapple with the fallout from Russia's war on Ukraine. President Volodymyr Zelensky was dialling in from Kyiv as the bloc looks to maintain its economic and military support for Ukraine and hold...

The Algerian firm said in a statement that Sonatrach and its partner Naturgy have agreed to revise the prices of the existing long-term gas supply contracts taking into account market developments, It did not say which way they would be revised, but natural gas prices have more than doubled in...

The question of rights to Libya's vast hydrocarbon resources has become more urgent this year as global energy prices have soared. Monday's deal builds on an agreement signed between Ankara and a previous Tripoli-based administration in 2019.

TAQA Energy will sell upstream oil and gas business to Waldorf.

With the demand for gas rising worldwide because of an energy crisis sparked by Russia's invasion of Ukraine, Lebanon hopes that an offshore discovery would ease its current unprecedented financial downturn. But more than a decade since it declared its maritime boundaries and an Exclusive Economic Zone, it still has...