Amid crippling energy shortages, the British government is negotiating with Qatar and Norway to secure new long-term gas contract, according to media reports. The reports said that Prime Minister Liz Truss is in favor of the deal, which would secure long-term energy sources and cut down the cost of the...

The 13-nation OPEC cartel headed by Riyadh and its 10 allies led by Moscow agreed to reduce output by two million barrels per day from November at a meeting in Vienna, the group said in a statement. It is the biggest cut since the height of the Covid pandemic in...

The EU is "ready to discuss" a price cap on gas within the bloc to bring down soaring energy costs, European Commission chief Ursula von der Leyen said Wednesday. Her comment, to the European Parliament, signaled a shift in tone after powerhouse EU country Germany had expressed worries that a...

Presenting a revision of their annual trade forecast, WTO economists said they expected the volume of global merchandise trade to grow 3.5 percent this year, which is slightly higher than their expectations in April. But they forecast it would grow by only one percent in 2023 -- dramatically down from...

In its new analysis, energy think tank Ember compared data from the first six months of the year -- which included the Russian invasion of Ukraine -- and the beginnings of the international energy crisis.

Germany pushed back against critics of a 200-billion-euro ($198-billion) energy fund, as Berlin faces fresh accusations it is going it alone in helping citizens face a historic price shock.

Asian and European stocks rallied and the dollar dipped as weak US data sparked hopes the Federal Reserve could ease its interest-rate hiking plans. Frankfurt and Paris equities soared over three percent in value after similar stellar gains in Tokyo, while London won two percent. Central banks across the world...

Firm aims to expand its utilities, energy investments.

Regulators have begun to pay attention, with US Securities and Exchange Commission Chairman Gary Gensler suggesting proof-of-stake looked like a securities market that would fall under his remit.

Adding to this, the market had witnessed September as a month of turmoil across financial markets driven by a surging dollar and traders sending bond yields sharply higher in anticipation of further rate hikes from central banks, led by the US Federal Reserve, adds Hansen while reviewing the global scenario.

Europe must ramp down gas consumption to survive the winter given perilously low stocks amid fears of a total cut off of Russian supplies, the International Energy Agency said.

Turkey's foreign minister signed a deal in Libya's capital Monday allowing for oil and gas exploration in 'Libyan waters'.

The kingdom recovered quickly from Covid-induced recession and is reaping the rewards of high global energy prices and increased energy production.

The Energy Minister said the UAE encourages joint investments with China in every sector, most notably in digital economy, green economy and circular economy.

The Nord Stream 2 pipeline is no longer leaking under the Baltic Sea because an equilibrium has been reached between the gas and water pressure, a spokesman said. "The water pressure has more or less closed the pipeline so that the gas which is inside can't go out," Nord Stream...

SOFIA, BULGARIA - Russia's Gazprom has suspended gas deliveries to Italy's Eni, blaming a transport problem in Austria, the Italian energy giant said. "Gazprom told us that it was not able to confirm the delivery of the volumes demanded for today, citing the impossibility of gas transport through Austria," Eni...

Lebanon said it received a letter from US envoy Amos Hochstein containing an "offer" on a maritime border deal with Israel that could settle competing claims over offshore gas fields. Prime Minister Najib Mikati met with US ambassador to Lebanon Dorothy Shea "who delivered a written offer from the US...

The OPEC+ oil cartel will meet in Vienna next week for the first time since Covid curbs were introduced in 2020, the organization said.

The EU executive believes it can raise €140 billion from the levies on non-gas electricity producers and on energy majors that are raking in outsized profits from the global energy demand.

The price of 90-octane gasoline and 95-octane gasoline will decrease by 60 fils in October.

The inaugural RAK Energy Summit, to be held on October 4-5, will feature experts from the energy sector in the UAE and globally for discussions on the challenges and opportunities the world faces as it moves to cut carbon emissions.

The Water, Energy, Technology and Environment Exhibition (WETEX) and Dubai Solar Show (DSS) saw a large turnout of visitors in its 24th edition.

Stoked by a staggering 40.8 percent rise in energy prices, the yearly inflation rate in the 19-country single currency area hit its highest level since records began, according to Eurostat. The historic level of inflation will encourage the European Central Bank to stay on its current path of rate hikes.

The EU's executive proposed a new round of sanctions on Moscow over its latest "escalation" in Ukraine, including an oil price cap and ban on Russian exports worth $7 billion. It also plans to expand its travel blacklist and asset freezes to include high-ranking Russian officials and organizers of the...

WTO Director-General Ngozi Okonjo-Iweala said Russia's war in Ukraine, the climate crisis, food price and energy shocks plus the aftermath of the Covid-19 pandemic were creating the conditions for a world recession.

Following the leaks, Jorgensen said the authorities called for "higher levels of preparedness in the electricity and gas sector" in the country. One of the leaks on the Nord Stream 1 pipeline occurred in the Danish economic zone and the other in the Swedish economic zone. Like the leak on...

The two firms will explore developing offshore wind projects.

The head of the UN atomic energy watchdog - IAEA- said he was ready to continue talks in Ukraine and Russia this week to set up a security zone around a key nuclear power plant. Fighting around Ukraine's Zaporizhzhia nuclear power plant -- Europe's largest -- has raised fears of...

The world economy will take a bigger hit than previously forecast next year due to the effects of Russia's war in Ukraine, the OECD said. In a bleak report titled "paying the price of war", the Paris-based organization noted that the conflict aggravated inflationary pressure when the cost of living...

The projects, whose total capacity reaches 3,300 MW, includes three which will utilize wind energy and two which will use solar energy.

Egypt’s natural gas and liquified natural gas (LNG) export revenues reached $8 billion in the fiscal year 2021-2022.

The Ministry of Energy and Infrastructure (MoEI) of UAE announced that it had signed an agreement with GHD Group, in partnership with the Germany-based Fraunhofer--Gesellschaft, to develop its National Hydrogen Strategy.

Riyadh, Saudi Arabia--Saudi Arabia has launched five new projects to produce electricity using renewable energy, which is part of the fourth phase of the projects of the National Renewable Energy Program. Saudi Press Agency said that Saudi Energy Procurement Company (the main buyer) launched the projects for competition. The financial...

DEWA CEO said that the exhibition will introduce the world to the UAE’s achievements in the renewable and clean energy sector.

The UAE foreign minister noted both the countries support each other to achieve sustainable economic growth and enhance the prosperity of their people.

German Chancellor Olaf Scholz arrived in Saudi Arabia at the start of a two-day Gulf tour, in the hope of sealing new energy deals with the fossil fuel exporters. Scholz, accompanied by a sizeable industry delegation, was received at Jeddah airport by Mecca region's governor Prince Khalid bin Faisal Al...

TotalEnergies to invest $1.5bn in natural gas production.

More efforts are required to make the world reach net zero emissions by mid-century, according to the International Energy Agency's (IEA) latest appraisal of global progress on clean energy technologies.

Dubai is consolidating its position as a pioneer in transitioning to a green economy to support the efforts of the UAE and the rest of the world in fighting the consequences of climate change.

Stock markets tumbled, the pound crashed against the dollar and oil prices slumped on growing recession fears after central banks this week hiked interest rates to fight inflation. Monetary policymakers have been forced to go on the offensive, warning that short-term hits to economies are less painful than the long-term...

UAE Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei said that the start-up of Unit 3 of Barakah Nuclear Energy Plant contributes to achieving one of the most important objectives of the country's vision and strategy for the energy sector.

South Africa inked the first three of a series of agreements with independent producers to supply wind energy amid worsening blackouts in the continent's most industrialized economy.

Britain lifted England's moratorium on controversial gas fracking to boost energy security, despite breaking the ruling Conservative party's manifesto pledge.

Hungarian Prime Minister Viktor Orban wants EU sanctions on Russia over its invasion of Ukraine lifted by year end, a pro-government daily newspaper said. Orban, who has sought close ties with Russian President Vladimir Putin in recent years, has frequently railed against the sanctions, saying they are hurting Europe more...

The White House said food supplies are being dangerously disrupted by "the compounding impacts of the pandemic, the deepening climate crisis, rising energy and fertilizer costs, and protracted conflicts -- including Russia's invasion of Ukraine."

This is a widespread corporate practice researchers call "redirecting responsibility" in which individual behavior, rather than the actions of governments and companies, is placed at the center of climate action. "It can make a company seem greener actually in a unique way that does the subtle work of overriding even...

Riyadh, Saudi Arabia - Saudi Arabia topped the list of oil suppliers to China for the first time in four months despite a rise in Beijing’s imports from Russia, Argaam said. Saudi’s oil exports rebounded last month to 8.475 million tons, or 1.99 million barrels per day (bpd). The Kingdom...

Oil giant Saudi Aramco's chief blasted "unrealistic" energy transition plans, calling for a "new global energy consensus", including ramped-up investments in fossil fuels to address painful shortages. Speaking at a conference in Switzerland, Amin Nasser lamented a "deep misunderstanding" of what caused the current energy crunch.

Dutch firm will provide water desalination technology

Against the backdrop of surging energy prices and the threat of a global food crisis, the IEA urged nations to use the coming COP27 meeting in Egypt to "accelerate progress towards net zero emissions by decades, cut energy costs and boost food security for billions of people worldwide".