This “responsible transition” is not only defined by the development principles, but primarily by a selective investment approach in our conventional business; we will continue to grow this where market fundamentals are healthy. This includes investing in gas and LNG (from upstream through midstream and downstream), which acts as a...
Iran awaits ‘details’ of Russian demands on nuclear deal
Iran said Monday it was awaiting "details" on Russia's demands for US guarantees that could potentially delay reaching an agreement in talks aiming to restore Tehran's 2015 nuclear deal with world powers.
Gunmen cause shutdown at two oil fields in Libya
The National Oil Corporation declared “force majeure” at the Al-Sharara and Al-Fil fields due to the shutdown, according to a statement published on Facebook.
Brent crude nears $140 per barrel, headed towards all-time high
Brent North Sea crude oil for May delivery reached $139.13 shortly after electronic trading opened around 2300 GMT on Sunday.Saudi Arabia hikes oil price as Russia-Ukraine war presses on
Saudi Arabia has hiked oil prices for all regions after the crude oil prices soared to more than $115 a barrel over the ongoing crisis arising out of Russia's invasion of Ukraine.
Italy, Qatar discuss cooperation in energy sector amid Ukraine crisis
Italy and Qatar discussed greater cooperation in the energy field in light of the Russia-Ukraine conflict, in a meeting at Doha on Sunday. Italian Foreign Minister Luigi Di Maio and his Qatari counterpart Mohammad bin Abdelrahman Al-Thani represented their countries in the meeting. Saudi media reports said that “bilateral and...UAE, IRENA to give clean cooking energy to communities
The initiative, called Beyond Food, was launched in collaboration with the Nama Women Advancement Establishment.Tajikistan to team up with Iran to build renewable energy sources
Tajikistan’s minister of energy and water resources said that his country is engaged in a program that includes construction of 700 megawatts of solar and wind powerhouses.
Moody’s says Ukraine war endangers global economic recovery
The Russia-Ukraine conflict and subsequent sanctions have increased risks to the global economic outlook, with effects that will depend on the length and severity of the crisis, Moody's Investors Service said in a report.Iran and IAEA see a way to resolve nuclear issues
Iran and the International Atomic Energy Agency said Saturday after talks in Tehran that they agreed on an approach to resolve issues crucial in efforts to revive the country's 2015 nuclear deal.US lawmakers seek to halt Russian oil imports
US president Joe Biden on Wednesday said he had not ruled out halting imports of Russian oil.
Middle East Energy opens next week, will focus on energy transition
Policymakers, business leaders, and industry experts from the energy industry will converge in Dubai next week to participate in Middle East Energy, formerly Middle East Electricity. The event will take place at the Dubai World Trade Centre, from 7th-9th March, under the theme, "Guiding you through the energy transition". It...Germany voices opposition to postponing Iran nuclear deal
Israel has said that regardless of any agreement that may be reached in Vienna, it would maintain full freedom to act against Iran.TAQA to recommend $600m dividend
The company has already paid $500m in quarterly dividends.
Romania-UAE Business Forum promotes economic collaboration
Romanian business leaders were speaking at Romania-UAE Business Forum at Expo 2020 Dubai.Biden says US will contribute half of 60 mn emergency oil barrel release
The United States will contribute half of the 60 million barrels of oil International Energy Agency (IEA) countries agreed to release Tuesday to stabilize global markets after Russia's invasion of Ukraine, President Joe Biden said. "I can announce the United States has worked with 30 other countries to release 60...Brent oil breaks $110 a barrel, WTI up 5% on Ukraine conflict
Brent crude broke above $110 a barrel on Wednesday and WTI was up more than five percent as Russia's invasion of Ukraine continued to fan fears over supplies of the crucial commodity from the resource-rich region. Russia is the world's third-biggest oil producer.Italy looks to Algeria to cover possible gas shortage
Italy imports around 95 percent of the gas it uses, and around 45 percent of that comes from Russia.WTI surges 6%, Brent 5% on Ukraine invasion by Russia
WTI rose 6.27 percent to $97.33, while Brent crude was up 5.24 percent at $103.06.
Aramco discovers four natural gas fields in Saudi Arabia
The exploration of natural gas will further enhance Saudi's status as the premium exporter of energy sources.
Algeria offers to supply Europe with gas amid Ukraine crisis
Algeria's state energy firm is ready to supply Europe with more gas in view of a possible decline due to the Russian invasion of Ukraine, its CEO said Sunday.Professor Roubini on Global and Regional Economies
Artificial intelligence, machine learning, robotics and automation will define the future of jobs, says renowned economist Professor Nouriel Roubini
DEWA electricity and water accounts rise by above 40 percent in 5 years
Dubai Electricity and Water Authority (DEWA) announced that the number of electricity accounts reached 1.06 million by the end of 2021 compared to 752,505 at the end of 2016, an increase of 41 percent. The number of water accounts reached 960,032 by the end of 2021 compared to 666,006 accounts...
Ukraine crisis challenges oil industry caution at high prices
As oil prices have risen over the last year companies ranging from giants like Chevron to mid-sized players such as Devon Energy have chosen to only lift capital investment modestly.New US sanctions hit Russian banks, elites; spare energy
Washington said the penalties will be severe, and will have lasting impact on Russia's economy.Aramco closes deal with consortium
The Global Investor Consortium acquires 49pc stake in Aramco Gas Pipelines.Saudi Arabia overall export rose 62.6% y-o-y in December
GASTAT data said the value of exports amounted to SAR106.3 billion ($28.35 billion) in December 2021.Russia attack on Ukraine turns Europe eyes to Saudi Arabia, Qatar
Qatar and Saudi Arabia host American troops, but their economic and political relations with Russia have grown over the years.Petrobras 2021 profit hits $20bn
Debt dropped to $47.62 billion in 2021 from $63.17 billion in 2020.
US declares Russia’s prized Nord Stream 2 pipeline ‘dead’
Although the pipeline is seen as an efficient way to supply energy to the European Union, which depends heavily on Moscow, critics always warned it would tighten Russia's strategic grip on European nations, while deliberately weakening Ukraine.Aramco is targeting investment in China : CEO Amin Nasser
Saudi Aramco is interested in investing in China, its President and CEO Amin H Nasser, said. He asserted that Aramco has a huge interest in investing in the economic powerhouse. The CEO was speaking at the International Petroleum Technology Conference 2022 in Riyadh. “Definitely, we are looking for more investment...Aramco stock rises 4%
Recently, a 4% stake of the oil giant had been transferred to PIF in an $80bn deal.Aramco head calls for sustained investment in oil sector
Saudi Aramco President and CEO Amin H Nasser urged companies and governments to continue investing in the oil sector to meet future demands.Using alternative sources of energy saved UAE $191 bn: Suhail Al-Mazroui
UAE has saved $191 billion by using alternative sources of energy, according to Suhail Al-Mazroui, UAE energy minister. Speaking at the International Petroleum Technology Conference 2020 in Riyadh, Al-Mazroui said the huge saving prompted the UAE to think seriously about using cleaner forms of energy. He said the UAE is...
Lebanon electricity supply may rise to 8-10 hours a day soon
Gas from Egypt and Jordanian electricity is expected to help Lebanon restore electricity supply to 8-10 hours a day soon.Lebanon government clarifies on claims of overspending on dams
The Ministry of Energy and Water has said the two dams have so far cost $90 million, and not the $1 billion that has been claimed.UAE sees climate action as catalyst of economic prosperity
UAE’s Minister of Industry and Advanced Technology, and UAE Special Envoy for Climate, Sultan Ahmed Al Jaber has said that the UAE views climate action as a key enabler of stability and economic prosperity.
UAE and Hungary to collaborate in energy sector
UAE Energy Strategy 2050 aims to increase the contribution of clean energy in the total energy mix from 25 per cent to 50 percent.
Italy forks out fresh six billion euros in energy aid
"We are putting nearly eight billion euros on the table, including six billion in energy aid", PM Mario Draghi told a news conference.World fuels its own destruction with $1.8trn subsidies: Study
Governments across the world pay an estimated $640 billion in support to the fossil fuel industry.
UAE’s Dragon Oil announces first oil find in Egypt’s Gulf of Suez
The discovery is one of the largest in the area in the past 20 years, and the field could contain around 100 million barrels in reserves.Engie posts €4.2bn profit
It pointed to energy prices and good asset performance for the rise.
Bangladesh aiming at direct shipping line to UAE for faster connectivity
Bangladesh wants to establish a direct shipping line with the UAE, which will reduce the existing navigation time by two thirds and pave the way for exponential growth in bilateral trade, Bangladesh AK Abdul Momen foreign minister has said. Momen is on a four-day official visit to the UAE. He...UN points to blue economy for global growth
Communities and businesses that rely on the ocean are hurting, as more than 3 billion people depend on marine and coastal biodiversity for their livelihoods.
Global diesel supplies fall as demand rises in post-pandemic recovery
Global supplies of diesel are dwindling as refiners struggle to keep pace with rapid post-pandemic demand recovery, exacerbating an acute global energy shortage that has already sent the prices of gas, coal and crude oil soaring. At a time when global central banks are fretting over inflation rates not seen...
Dana Gas posts $317m profit
The company's revenue rose 30 percent to $452 million in 2021.High energy prices put more pressure on Turks
When temperatures plunged well below freezing in Ankara and energy prices soared, Dondu Isler had to make a tough choice to both stay warm and keep her soaring utility bills down. She turned off the heating in two bedrooms of her apartment. "Only the living room and the kitchen were...BP profits $7.6bn in 2021
The company aims to cut emissions by 50 percent by 2030.
High electricity bills in Jordan due to rise in winter consumption: Regulator
Jordan’s Energy and Minerals Regulatory Commission ascribed any rise in the electricity bill to high demand during this winter when the electricity load was at 4,010 megawatts.Lebanon fuel distributors say no diesel crisis in the country
Lebanon’s Fuel Distributors Representative Fadi Abu Chakra has confirmed that "there is no diesel oil crisis" in the country. The rumors of oil crisis started to circulate after a ship carrying 42 thousand tons of diesel met with a marine accident due to strong winds near the Amchit coast. Abu...
DEWA and Tajik diplomats discuss tie-up in energy sector
Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), met with Ilhom Abdurahmon, Consul-General of the Republic of Tajikistan in Dubai and the Northern Emirates, to discuss ways to develop cooperation in energy and water sectors.
