The Algerian firm will make the investments over five years.

Major oil-producing countries are expected to maintain on Tuesday their course of modestly boosting output as the rapidly spreading Omicron variant has so far not heavily hit demand.The so-called OPEC+ grouping, including top producers Saudi Arabia and Russia, has withstood pressure to more widely open the taps though high energy...

At the global scale, 56.5 percent of oil reserves and 26.7 percent of natural gas reserves are owned by Arab countries.

The fact that the European Commission quietly distributed the text of this proposal to member states late on Friday, in the final hours of 2021 after the much-delayed document had been twice promised earlier in the year, highlighted the rocky road to draft it.

Dana Gas has received a payment of $39 million (AED143 million) from the Egyptian Government in December, the company announced Wednesday. The payment reduced its receivables in Egypt to its lowest levels at below $30 million since commencing operations there in 2007, local media reports said. It complements a year...

With the worst of the repercussions of Covid-19 expected to be in the rearview mirror, there are some specific sectors Saudi Arabia is focusing on in 2022.

The International Energy Agency warned in May that an immediate halt to new investment in fossil projects is needed if the world is to reach net-zero carbon emissions by 2050 and to stand any chance of limiting warming to 1.5 degrees C.

The two companies announced on Wednesday a $3.6 billion (AED13.22 billion) strategic project to significantly decarbonise ADNOC’s offshore production operations, further strengthening their position in driving and leading sustainability efforts and supporting the UAE ‘Net-Zero by 2050 Strategic Initiative’.

The main reason for high inflation rates in the GCC countries is a rebound in prices in the sectors that were affected the hardest during the Covid-19 crisis, Chief Economist at Oxford Economics Middle East, Scott Livermore, tells TRENDS in an interview.

The facility is in line with EDB's strategy to support large corporates.

Tunisian authorities are scrambling to find new sites as most of the country's 11 official dumping grounds will close by the end of 2022.

Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met with Rafael Mariano Grossi, Director-General of the International Atomic Energy Agency (IAEA), at Expo 2020 Dubai to discuss the nuclear energy program of the country. Al Nahyan and Grossi hailed the cooperation between the two sides,...

Saudi Arabia and Kuwait pledged to enhance bilateral cooperation and coordination in security, military, and economy.

The meeting of the Council of Ministers of the Organization of Arab Petroleum Exporting Countries (OAPEC), was held on Thursday via video.

The country is looking to move up a position and become the world’s second-largest gas producer with this field.

Dubai's carbon emissions have fallen by 22 percent in 2019, reflecting the efforts made by its strategic partners to support the green economy of the emirate, said Ahmed Buti Al Muhairbi, Secretary-General of the Dubai Supreme Council of Energy. Al Muhairbi was attending the Dubai Supreme Council of Energy's 67th...

Green hydrogen has the potential to rapidly replace fossil fuels on a large scale, says Cranmore Managing Partner Yusuf Macun.

The OPEC+ alliance led by Saudi Arabia and Russia has so far resisted US-led pressure to significantly boost output to rein in surging energy prices.

Iraq's oil Minister Ihsan Abdul-Jabbar has said that Iraq has worked on a vision that emphasizes the importance of finding a balance in the energy market, ahead of the new OPEC + meeting next month to study market conditions. "Iraq is a major member of OPEC and we have repeatedly...

Masdar, a renewable energy company and a subsidiary of Mubadala Investment Company, will build a 200-megawatt solar photovoltaic (PV) plant in Armenia under an MoU it signed with the Armenian government. The Ayg-1 project will be Armenia’s largest utility-scale solar plant. The Government Support Agreement (GSA) was signed by Gnel...

Al Bayader International, for example, has set up solar farms to offset energy costs and build sustainability, says Founder and CEO Nidal Haddad.

"On our pricing model, such a release would be worth less than $2/bbl, significantly less than the $8/bbl sell-off that occurred since late October," the bank said in a note.

Ministers from the neighbouring countries inked the US-brokered agreement at a Dubai Expo event joined by John Kerry, the US Special Presidential Envoy for Climate. "The Middle East is on the frontline of the climate crisis," Kerry said in a statement. "Only by working together can countries in the region...

Iran and Azerbaijan will sign agreements for cooperation in various energy sectors soon, according to Iranian Oil Minister Javad Oji.

Consumption of natural gas rebounded fast — driven by industrial production — boosting demand at a time when supplies were relatively low. Energy supply, however, apparently reacted slowly to price signals due to factors like labor shortages, maintenance backlogs, longer lead times for new projects, and lackluster interest from investors...

The discussions took place between Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum and Brazil President Jair Bolsonaro at Expo 2020 on Saturday. The meeting saw the signing of several agreements and MoUs between the two sides.

More than 30 top energy executives from around the world will come together at the 7th Abu Dhabi CEO Roundtable, hosted by the Abu Dhabi National Oil Company (ADNOC).

The solar farm should have a capacity of more than 5 MW.

Investing in low-carbon solutions in the energy sector will drive economic prosperity, says UAE Special Envoy for Climate Change Sultan bin Ahmed Al Jaber.

The company said losses due to IPO-related issues and payments.

Finance is a crunch issue at the summit, with developing nations demanding rich emitters make good on decade-old promises to provide $100 billion a year to help them cope.

To resist climate changes, more sustainable sources of energy like nuclear could become a norm in the near future.

Green hydrogen is envisaged to play a significant role in UAE’s domestic strategy to meet the UAE 2050 Net-Zero goals.

Etihad Credit Insurance and Indonesia Re, the state-owned reinsurance agency of Indonesia, have signed an MoU to boost bilateral exports and investments through their trade credit insurance, reinsurance and guarantees. Under this agreement, the two agencies will work on easing trade and export between UAE and Indonesia, facilitating access of...

As the UAE has mushroomed from a desert outpost to a thriving business hub, waste has multiplied. So has power use, which has soared 750 percent since 1990 according to the International Energy Agency. The wealthy UAE uses more electricity and creates more waste per head than almost any other...

Representatives of 50 Dutch companies, led by the Dutch Minister for Foreign Trade and Development Cooperation Tom de Bruijn, arrived in the UAE as part of a trade mission aimed at strengthening trade relations between the two countries. More than 350 Dutch companies currently operate in the UAE and they...

It will be the first time since the oil price crash in the second quarter of last year when the COVID-19 pandemic devastated demand that ADNOC has not implemented any supply cuts.

Cyprus hopes to boost its share of renewable energy to 23 percent by 2030 as part of its National Energy and Climate Plan.

Jordanian Minister of Energy and Mineral Resources, Saleh Kharabsheh, has stressed the importance of developing the country’s electricity grids and benefiting from global expertise in this field.

Not only is the kingdom ramping up oil production, it is also making a major play for the trillion-dollar emerging industries touted as a route to cleaner air.

Climate adaptation means adjusting to the current effects of climate change and preparing for its predicted impacts in the future.

Prince Abdulaziz bin Salman said new processes enabling capture and reuse of carbon were key to the kingdom achieving net zero.

Saudi Arabia's Minister of Communications and Information Technology Abdullah bin Amer Al-Swaha has said that the best way to achieve zero emissions was to increase investment in science and technology. He said if the world continued to follow the current policies and technologies, its zero-emissions efficiency will be 30 to...

The company acknowledged that this would have its challenges.

The United Arab Emirates’ minister of state, Sultan Al-Jaber, said that the world needs to accept that global energy transition will take time.

KOC plans to hike capacity to 3.2 million bpd by 2025.

With the latest international climate conference just days away, the proposed ban will halt support to new coal power stations that don't have systems that trap the carbon emissions responsible for global warming.

Egypt is looking to increase the share of renewable energies to over 42 percent by 2035, after the country reached 2022’s target for boosting renewables to 20 percent early this year.

ACWA Power has said it plans to end investment in non-renewable projects in its endeavor to reach net zero by 2050. Riyadh-based ACWA, the only listed company with big renewable energy and hydrogen projects in the pipeline, is 44 percent owned by Saudi Arabia's sovereign wealth fund PIF CEO of...

This is QatarEnergy and Shell’s first hydrogen agreement.