G7 industrialized powers vowed Friday to "urgently" move towards implementing a price cap on Russian oil imports in a bid to cut a major source of funding for Moscow's war in Ukraine. The G7 said it was working towards a "broad coalition" of support for the measure but officials in...

Inflation-fighting measures, such as hiking rates and removing stimulus, was the main driver behind the recent correction in commodities that are likely to weather headwinds from an economic slowdown with supply of key commodities being equally challenged, he adds.

Driven by soaring energy prices caused by Russia's invasion in Ukraine, the yearly inflation rate in the 19-country single currency area reached 9.1 percent, its highest since records began, according to Eurostat. Consumer prices had accelerated to 8.9 percent in July.

The awards cover ADNOC’s onshore and offshore fields and will run for five years with an option for a further two years.

Gazprom said supplies via Nord Stream 1 were "completely stopped" for "preventative work" at a compressor unit, shortly after the the pipeline's operator, Entsog, announced that deliveries had stopped. The move comes as European countries have faced soaring energy prices since Russia invaded Ukraine in late February and subsequently curbed...

European leaders want to break the link between soaring gas prices and electricity bills, a wholesale reform of the EU energy market made urgent by Russia's invasion of Ukraine. This continent-wide shake up of 27 EU economies with different energy needs and sources will be a long and politically-fraught process.

Dubai Electricity and Water Authority (DEWA) has been ranked the third most valuable utility brand in the Middle East and the third fastest growing brand in the UAE according to the annual report issued by 'Brand Finance'.

Dubai, UAE: State Grid Corporation of China (SGCC), the largest utility company in the world, has expanded its presence in the region by setting up an office in Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region. This is...

Massive hike in the gas prices hits firm's profitability.

High gas prices have been followed by disruptions in the nuclear and hydroelectric sectors amid a heatwave blamed on climate change -- threatening businesses and households with massive bills. Energy ministers from EU member states will hold urgent talks in Brussels on September 9.

If the apex banks focus too much on core inflation, it will be a big mistake. Food and energy will be at the center of the crisis years with climate change and green transformation being inflationary in the years to come. Investors should increasingly invest in the tangible world to...

An economic crisis spurred by the Ukraine war is casting darkness upon Egypt's streets, as the government dims lights to free up energy for export and bolster hard currency reserves.

Turkish foreign ministry denounced the comments as "unacceptable." The ministry said that French President has "difficulties in confronting his colonial past in Africa, especially Algeria."

French President Emmanuel Macron and his Algerian counterpart Abdelmadjid Tebboune Saturday declared a "new, irreversible dynamic of progress" in their nations' ties, concluding a visit by Macron aimed at ending months of tensions. The three-day visit comes less than two months after Algeria marked six decades of independence following 132...

Japanese Prime Minister Fumio Kishida Saturday pledged $30 billion over three years for Africa in a virtual address to a development conference in Tunis. The eighth Tokyo International Conference on African Development (TICAD8) takes place amid a "complex" international environment caused by the coronavirus pandemic and the war in Ukraine,...

There is a risk of a radioactive leak at Ukraine's Zaporizhzhia nuclear power plant, occupied by Russian troops, the state energy operator said Saturday. Enervator said Moscow's troops had "shelled" the site of the plant in Ukraine over the past day. Kyiv and Moscow have traded accusations over shelling in...

Investment in nuclear power declined after Japan's 2011 Fukushima disaster, the world's worst nuclear accident since Chernobyl in 1986, as fears over its safety increased and governments ran scared. But following Moscow's invasion of Ukraine in February, the subsequent squeeze on energy supplies and Europe's push to wean itself off...

Stock slumped on Friday after Federal Reserve boss Jerome Powell pledged to act "forcefully" against soaring inflation in a battle that will be painful for Americans. The Fed has been on a campaign to raise interest rates and Powell said at Jackson Hole that the fight against inflation is not...

Dubai Electricity and Water Authority (DEWA) has organized a virtual seminar with 90 leading Turkish companies in the energy and water sectors.

German ministers vowed to reexamine a planned gas surcharge imposed on consumers after it emerged that some energy companies seeking a share of the levy were in fact posting billion-euro earnings.

It's an economic and practical solution in a territory blockaded by Israel for 15 years, but one which poses serious environmental and health risks, experts say. Standing before rusty metal machinery and fuel containers, Mahmoud al-Kafarneh described how he and his brothers came up with their plastic recycling project.

Germany's economy grew slightly in the second quarter, an upgrade from a previous estimate of stagnation, revised official data showed Thursday, pushing back the specter of recession. Output expanded by 0.1 percent in the April to June period, according to the federal statistics agency, which had previously projected zero growth....

The Emirates Nuclear Energy Corporation (ENEC) has hosted a recognition ceremony at the Barakah plant for top-performing students from the 11th and 12th grades in the Al Dhafra region.

Jordan's Prime Minister emphasized that the project reflects Jordanian commitment to assist in laying the foundation for an independent Palestinian state.

Head of the UN agency Rafael Grossi and Rosatom chief Alexei Likhachev met in Istanbul on Wednesday, the Russian nuclear energy agency said in a statement.

Qatar on Tuesday announced two major solar projects that will more than double its energy output from the renewable source within two years. Energy Minister Saad Sherida al-Kaabi hailed the new development as a major step in efforts to "increase the reliance on high-efficiency renewal energy" in the Gulf state,...

Prince Abdulaziz bin Salman said in an interview with Bloomberg that OPEC+ has the commitment, the flexibility, and the means within the existing mechanisms to deal with such challenges, including cutting production at any time. He said that the volatility and thin liquidity send erroneous signals to markets at times...

Abu Dhabi Department of Energy (DoE) Monday announced that the development of its hydrogen policy and regulatory framework aims to accelerate the UAE’s national hydrogen strategy and help the country attain global leadership in low-carbon and clean hydrogen.

Many believe Russian President Vladimir Putin is using energy supplies as a strategic weapon to put pressure on nations that have applied sanctions against Moscow for its invasion of Ukraine.

The Unite union representing the striking Felixstowe staff said the stoppage will have a big impact at the port, which handles around four million containers a year from 2,000 ships.

Director-General and Chairman of the Board of Executive Directors of the Roads and Transport Authority said that RTA had achieved the targeted energy efficiency performance indicators 2021 and reduced total energy consumption.

Saudi Arabia and Uzbekistan have signed an agreement to develop cooperation and exchange information and experiences in all fields of energy though research and studies besides working on exchanging policies and laws related to these. The agreement was signed by the acting Minister of Energy Dr. Essam bin Saad bin...

The recent drop in oil prices reflects global concern over an economic slowdown and “masks physical market fundamentals," says OPEC secretary general.

Even as only half of the significant insurers in the region are disclosing ESG information, sustainability has gained significant traction in financial services in last few years.

It must be based on scientific, economic, and engineering facts, appreciate the multiple dilemmas and challenging trade-offs, and accelerate the deployment of practical solutions. For that, we need an inclusive approach that leverages the experience of all sectors of society, he added in a writeup for Project Syndicate.

Germany is heavily dependent on Russian gas and has seen deliveries drop sharply amid tensions over the Ukraine war.

“OPEC is not behind this price increase,” said the secretary-general of the the influential group of producers Haitham Al-Ghais. “There are other factors beyond OPEC that are really behind the spike we have seen in gas (and) in oil. And again, I think in a nutshell, for me, it is...

The retail giant sales surged, partly due to inflation.

The Museum of the Future has signed a strategic partnership agreement with Dubai Electricity and Water Authority (DEWA) to showcase unique technologies and solutions related to the future of environmental sustainability and renewable energy.

Oil prices slipped in Asian trade, with both main contracts down around two percent as the stuttering Chinese economic recovery added to concerns about demand.

The average natural gas consumption for Jordan's industries amounted to 24 million cubic feet (CF) per day during 2021, according to data released by Ministry of Energy and Mineral Resources.

DEWA's net profit in H1 2022 is US$898 million

Safadi lauded Canada's efforts to support the Kingdom's development process and help Jordan face economic challenges

As the Gulf country sets aside about US$163bn to achieve zero-emission, the number of enterprises focusing on renewable energy is growing, Simon Birkebaek of BCG tells TRENDS.

A delegation from Saudi Arabia’s King Abdullah Petroleum Studies and Research Center (KAPSARC), participated in Tokyo’s 43rd International Association for Energy Economics (IAEE) conference. KAPSARC's experts shared insights on global energy and environmental concerns, disseminating solutions to help shape future energy policies and encourage climate action. The insights included the...

IMF estimates inflation in the UAE is expected to be at 3.7 per cent in 2022, falling to 2.8 percent in 2023. While these are among the lowest levels globally, businesses operating in the UAE are feeling the pressure of increasing costs, according to Grant Thornton's International Business Report. The...

The firm's revenue increased 13 percent to US$1.27 billion

Syria's internal commerce ministry has announced a petrol price hike of around 130 percent in the war-torn country facing fuel shortages and extended power cuts.

Gaza's sole power plant shut down on Saturday after running out of fuel, an electricity company spokesman said, five days after Israel closed its goods crossing with the Palestinian enclave. Diesel for the plant is usually trucked in from Egypt or Israel, which has maintained a blockade since Hamas took...

President Recep Tayyip Erdogan has confirmed that Turkey will start paying for some of its Russian natural gas imports in rubles. Avoiding paying for the gas in dollars helps Turkey protect its dwindling hard currency reserves.