Oil giant BP announced Wednesday it is taking a 40.5 percent stake in an Australian energy project being billed as the largest renewable power station on earth.

The national average price for regular unleaded gas rose to $5.004 a gallon on June 11 from $4.986 a day earlier.

Iran and Venezuela signed a 20-year deal on cooperation between the two allies subject to US sanctions during a visit Saturday to the Islamic republic by Venezuelan President Nicolas Maduro.

The CECs provide Abu Dhabi entities a pathway to achieve their desired sustainability goals by guaranteeing the zero-carbon origin of their clean electricity consumption.

IAEA head Rafael Grossi told reporters on Monday that it would be "a matter of just a few weeks" before Iran could get sufficient material needed for a nuclear weapon if they continued to develop their program.

The OECD warned Wednesday that the world economy will pay a "hefty price" for Russia's invasion of Ukraine as it slashed its 2022 growth forecast and projected higher inflation. The Paris-based organization, which represents 38 mostly developed countries, is the latest institution to predict lower GDP growth due to the...

The Agency for Natural Resources and Energy in Tokyo.reported that the amount of crude oil that Japan imported during that month amounted to 87.59 million barrels.

Masdar has signed an agreement with Azerbaijan to develop clean and renewable energy projects in the country with a combined capacity of 4,000 MW.

The Ministry of Energy and Mineral Resources on Sunday inked an MoU with a local company to explore for copper in the Dana region of Jordan's south. Another MoU with a Turkish company was signed to explore for gold in the Abu Khashiba region, also south, media reports said. The...

Wafi will also operate car services for Shell Global in  the kingdom.

Turkey's inflation climbed to its highest level since 1998, hitting an annual 73.5 percent in May, official data showed Friday, an issue dogging President Recep Tayyip Erdogan ahead of elections next year. Critics have blamed the country's economic woes on Erdogan's unorthodox economic policy of pushing for lower interest rates...

Major oil producers led by Saudi Arabia and Russia on Thursday decided to open taps wider than expected amid soaring prices and hard on the heels of an EU ban on Russian oil imports. Analysts had expected OPEC+ producers to stick to their policy of modest output increases, as they...

Jordan's oil bill went up by 49.1 percent in Q1 2022, compared to the same period in 2021, the Department of Statistics (DoS) said Monday. The report said the value of the oil bill in Q1 2022 increased to JD761 million compared to JD510 million in the same period of...

Germany hit the highest level of inflation in 50 years due to a rise in the cost of living, energy, and foodstuff prices. The data provided by the Federal Statistical Office of Germany indicate that levels of inflation reached 7.9 percent in May 2022. The inflation rate is calculated by...

The US central bank needs to keep raising interest rates in big steps until inflation starts to come down, Federal Reserve Governor Christopher Waller said Monday. The Fed early this month announced the biggest increase in the benchmark interest rate since 2000, following a smaller hike in March, as it...

The International Atomic Energy Agency said in its latest report on Iran's nuclear program that it "estimated that, as of May 15, 2022, Iran's total enriched stockpile was 3,809.3 kilograms. The limit in the 2015 deal was set at 300 kg of a specific compound, the equivalent of 202.8 kg...

This is a part of the Kingdom’s agenda to achieve sustainable development 2030 locally and internationally.

Japan Friday for the first time joined fellow members of the Group of Seven industrialised nations in pledging to end public financing for fossil fuel projects abroad by the end of the year to help combat global warming. "We commit to end new direct public support for the international unabated...

India was the second-largest trading partner of the UAE in 2021 as it accounted for 9 percent of the total volume of the UAE's trade with the world, and 13 percent of the UAE's non-oil exports.

A Saudi delegation said Wednesday that the transformation march launched by it a few years ago contributed to enhancing the economic, social and development dimensions of the Kingdom and has created qualitative investment opportunities. The delegation participated in a panel discussion, "Kingdom of Saudi Arabia: A Future Vision", on  Wednesday...

A green hydrogen-based ammonia production facility will be built in Oman.

Tehran and Moscow are seeking to expand cooperation in energy and trade, officials said Wednesday, as Russian Deputy Prime Minister Alexander Novak visited Iran. Both countries have huge oil and gas reserves but are constrained by sanctions imposed by the West that limit their ability to export their resources. Novak...

Energy, utilities and natural resources account for 42% of the total IPO proceeds, TMT 27% and financial services 21%, Odin Financial Advisors MD Omer Unsal tells TRENDS.

The three firms will create green hydrogen and sustainable aviation fuel.

Global environmental, social, and governance assets are expected to hit $41 trillion by the end of this year, and $50 trillion by 2025, Yasir Al-Rumayyan, governor of the Saudi sovereign fund said. The growth in assets is due to the fact that Public Investment Fund continues to enhance ESG integration...

GCC Secretary-General, Dr. Nayef Falah Mubarak Al-Hajraf, had welcomed the European High Representative for Foreign Affairs and Security Josep Borrell’s announcement of the adoption of joint working paper of the European Parliament and the European Commission

Qatar and Germany have agreed to boost cooperation in the energy sector, and in this regard the two countries signed a joint declaration of intent to promote ties.

The International Energy Agency (IEA) has said that G7 economies are well placed to be first movers on driving down carbon dioxide emissions from heavy industry.

Russia may cut gas supplies to Finland soon over the Nordic country's refusal to pay Gazprom in rubles, Finnish state-owned Gasum said on Tuesday. Gasum said it would take its dispute with Gazprom Export to arbitration, a move that risks angering neighboring Russia further as Helsinki prepares to submit its...

IHC to provide capital to Adani firms for green energy projects.

The IEA said "steadily rising" output from the United States and Middle Eastern members of the OPEC+ oil cartel will help offset losses from Russia.

Ukraine is a major supply route for Russian gas to Europe and the two sides have kept flows going even after the Kremlin sent troops into Ukraine on February 24

Here’s a look at the challenges that await incoming lawmakers in a country where there is little consensus on a roadmap for financial recovery.

The climate commitments of global energy giants lack credibility as they rely on costly technologies that have yet to be proven at scale, according to a report published Thursday by Carbon Tracker. The non-profit think tank that researches the impact of climate change on financial markets noted that despite a...

The sanctions include a ban on transactions and the entry into Russian ports of vessels linked to the affected companies.

The world will set a new record for renewable power capacity this year led by solar energy in China and Europe, but growth could lose steam in 2023, the International Energy Agency said Wednesday. A record 295 gigawatts of new renewable power capacity was added in 2021 despite supply chain...

ADQ will work with the Hellenic Development Bank (HDB), the national development bank of Greece, and Hellenic Development Bank of Investments (HDBI), the Sovereign Fund of Funds of Greece.

Mubadala Investment Company and ENGIE signed an agreement to explore the development of a digital platform for charging electric vehicles in Abu Dhabi and the Middle East region. The two companies will work on a joint solution for the installation and operation of charging infrastructure as well as sustainable mobility...

The UAE has proactively invested in proven clean energy and within a decade, solar and peaceful nuclear energy have delivered a transformation of the UAE’s energy sector, ensuring the nation is ahead of the curve on achieving Net Zero by 2050, said Mohamed Ibrahim Al Hammadi, Managing Director and Chief...

The embargo on Russian oil, which is part of a sixth package of EU sanctions under discussion, is being resisted by some member states that rely on Russian oil to keep their economies running and are seeking guarantees of alternative sources.

The United Nations warned Monday that it would cost $20 billion to clean up an oil spill in the event of the "imminent" break-up of an oil tanker abandoned off Yemen. "Our recent visit to (the FSO Safer) with technical experts indicates that the vessel is imminently going to break...

Russia invaded Ukraine in February, in part to thwart Kyiv's tilt towards integration with the EU and NATO.

Oil prices continue to spike, beefing up energy companies.

The G7 club of wealthy nations committed Sunday to phasing out its dependency on Russian oil and issued a scathing statement accusing President Vladimir Putin of bringing "shame" on Russia with his invasion of Ukraine. The statement from the Group of Seven -- France, Canada, Germany, Italy, Japan, Britain and...

Inflation spawns numerous hurdles as GCC business leaders struggle to find a way to surmount the difficulties aggravated by geopolitical events.

The country’s National Center for Statistics and Information has announced that the country’s production of natural gas at the end of last March rose 0.8 percent.

With this turnover, it became the first Indian firm to cross the mark.

US giant ExxonMobil announced in April the discovery of three new oil deposits in Guyana, raising estimates of the country's oil reserves to the equivalent of 11 billion barrels. Those discoveries fueled Guyana's existing border dispute with Venezuela, which wants to explore territorial waters claimed by both countries.

Brazilian President Jair Bolsonaro has criticized it for rising fuel prices.

Dubai Electricity and Water Authority (DEWA) is implementing the Mohammed bin Rashid Al Maktoum Solar Park clean and renewable energy project to achieve net-zero emissions by 2050. Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site solar park in the world. The solar park has a planned capacity...