Western energy firms are the usual suspects when it comes to criticism about the sector's role in climate change, but a less visible lineup of powerful state companies dominates the industry. They will all share the limelight at the UN climate talks that opened Thursday in Dubai, as COP28 president...

Saudi Arabia will extend its voluntary cut of 1 million barrels per day. The latest Saudi cut is in addition to the voluntary cut of 500,000 barrels a day previously announced by the Kingdom in April 2023, which extends until the end of December 2024.

Washington, United States - A key inflation measure used by the US Federal Reserve to set interest rates eased further last month amid declining energy and goods prices, according to government data published Thursday. The annual personal consumption expenditures (PCE) price index rose 3.0 percent in October, down 0.4 percentage points...

The discussions between the UAE president and the Cuban president at Expo City Dubai focused on cooperation in various fields particularly in the economic, investment, developmental, renewable energy, and sustainability sectors, aiming to broaden their scope to fulfil the aspirations of both nations for development and prosperity.

Helsinki, Finland - Finland's Olkiluoto 3, the largest nuclear reactor in Europe, stopped production on Wednesday after a test caused the plant unit to unexpectedly go offline, its operator TVO said. "During the test, the plant was supposed to produce electricity normally," said Johanna Aho, head of communication at TVO. Before production was...

Fujairah, UAE - High in remote mountains in the oil-rich Emirates, a new plant will soon take atmospheric CO2 and pump it into rock -- part of controversial attempts to target planet-heating emissions without abandoning fossil fuels. Using novel technology developed by Omani start-up 44.01, the solar-powered plant will suck carbon...

Ankara, Turkey - Turkish President Recep Tayyip Erdogan on Wednesday branded Israeli Prime Minister Benjamin Netanyahu "the butcher of Gaza" and accused him of spawning anti-Semitism across the world. Erdogan has lashed out repeatedly at Israel for the scale of death and destruction caused by its response to Hamas members' unprecedented...

Abu Dhabi, UAE - The UAE and Pakistan recently sealed a significant deal, potentially injecting between $20 to $25 billion into Pakistan's struggling economy, according to media reports. The agreements, covering diverse sectors like energy, ports, food security, and finance, were signed after a meeting between caretaker Prime Minister Anwaarul...

Spanish energy company Iberdrola announced £7 billion of funding for offshore wind infrastructure while US tech giant Microsoft plans to invest £2.5 billion in artificial intelligence (AI) infrastructure, including data centers.

As global temperatures tick higher, with this year on course to be the hottest on record, the UAE is changing its building designs and urban planning to create cooler living environments, even outdoors, Almheiri said.

Dubai, UAE--DP World and the International Renewable Energy Agency (IRENA) have signed a cooperation agreement to accelerate the use of renewable energy and cut emissions from the ports and maritime logistics sector. Signed by IRENA Director-General Francesco La Camera and DP World Group Chairman and CEO Sultan Ahmed bin Sulayem,...

Manama, Bahrain-- Bahrain and the European Union (EU) have held discussions to boost cooperation in various domains, including the energy sector. In this regard a meeting took place in Manama between Dr. Mohammed bin Mubarak Bin Daina, Minister of Oil and Environment and Special Envoy for Climate Affairs and Christophe...

Paris, France - The president of a pivotal UN climate summit defended on Saturday the large presence of industry representatives at the negotiations, saying private sector engagement was essential to curb global heating. "Everyone needs to be part of this process and everyone needs to be held responsible and everyone needs...

MANILA, PHILIPPINES - Setting the scene for a low-carbon and climate-resilient Asia and the Pacific, the Asian Development Bank (ADB) plans to invest US$100 billion of its own funds and work with the public and private sector to maximize its climate impact. With the region on the frontline of the...

Paris, France--Oil and gas producers face pivotal choices about their role in the global energy system amid a worsening climate crisis fuelled in large part by their core products, according to a major new special report from the IEA. The report shows how the industry can take a more responsible...

Abu Dhabi, UAE - ADNOC announced on Friday it opened “H2GO”, the region’s first high-speed green hydrogen pilot refueling station, to test a fleet of zero-emission hydrogen-powered vehicles. The station will be operated by ADNOC Distribution, and is likely to create green hydrogen from water using an electrolyzer powered by...

ABU DHABI, UAE - Masdar City, a sustainable urban community and a business and technology hub here, has just completed the region’s first net-zero energy commercial building, called NZ1. The building’s simple design demonstrates that net-zero energy is possible for almost any developer, setting a new benchmark for architects and...

Both main crude contracts slipped more than one percent on news that the much-anticipated gathering of the major producers would be put back by four days to November 30. Reports said the decision was made after Angola and Nigeria pushed back at lower targets urged on them, with Saudi Arabia...

Paris, France--The International Energy Agency on Thursday called on oil and gas companies to devote half of their investments to clean energy by 2030, urging them to face a "moment of truth" at next week's COP28, the largest UN climate change conference ever held. The IEA urged producers to make the...

Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) has signed an agreement with Emirates Steel Arkan to develop a pioneering project utilising green hydrogen to reduce carbon emissions in the UAE's energy-intensive steel industry. Marking the first of its kind in the Middle East and North Africa region, this innovative...

Muscat, Oman--Oman LNG has entered into a sale-and-purchase agreement (SPA) with BP to deliver a total of 1 million metric tonnes per annum (MTPA) of LNG to BP. The agreement strengthens the robust relationship between Oman LNG and BP, with which the company has previously signed SPAs to supply reliable...

Stockholm, Sweden - Battery group Northvolt said on Tuesday it had developed a new sodium-ion battery, a technology using less critical minerals which could lessen dependence on China. "The world has put high hopes on sodium-ion, and I'm very pleased to say that we've developed a technology that will enable its...

Jakarta, Indonesia - Indonesia on Tuesday launched an investment plan to attract $20 billion pledged by Western nations in a renewable energy transition pact agreed last year for the archipelago to slash emissions and wean itself off coal. The roadmap, which comes less than two weeks before the COP28 summit in...

RIYADH, SAUDI ARABIA – ACWA Power Co  said it received the initial commercial operation certificate from the Dubai Electricity & Water Authority (DEWA) for phase two of concentrated solar power (CSP) Parabolic Trough (PT) 200 megawatts (MW) unit of Noor Energy 1, taking total capacity under operation to 717 MW. The second phase is part of a 950 MW solar CSP independent...

Dubai, UAE-- With its financing packages for the renewables sector to support the transition to clean and sustainable energy sources, Emirates Development Bank (EDB) underscores its commitment to driving the development and growth of solar power adoption across the emirates. The bank, in line with the UAE Energy Strategy 2050...

Cairo, Egypt - European Commission President Ursula von der Leyen on Saturday said she was opposed to the "forced displacement of Palestinians" during a meeting in Cairo with Egyptian President Abdel Fattah al-Sisi. Von der Leyen "thanked Egypt for its key role in providing and facilitating humanitarian aid to vulnerable Palestinians",...

ABU DHABI, UAE - Abu Dhabi Ship Building (ADSB) announced that it is building two 28-meter vessels for ADNOC Logistics and Services plc (ADNOC LS), a global energy maritime logistics leader. The order for these vessels further strengthens the relationship between ADNOC LS, a global energy maritime logistics leader, and...

Manama, Bahrain-- Bahrain and Russia have held discussions to enhance cooperation in various fields of the two countries' economies. In this regard, Dr. Mohammed bin Mubarak Bin Daina, Minister of Oil and Environment and Special Envoy for Climate Affairs, met Roman Panov, the President of the Russian GEOTEK company, a...

Germany's Urgewald, along with 50 other NGOs, analyzed the investment plans of 1,623 companies involved in the oil and gas industry - representing 95 percent of global hydrocarbon production. Urgewald estimates that 539 companies -- including Saudi Aramco, QatarEnergy and Russia's Gazprom are preparing to produce an extra 230 billion...

Tehran, Iran-- Iran is linking up its electricity grids with Russia via Azerbaijan in order to make up for its power shortfall. The Islamic republic's minister of energy said the electricity grids of Iran and Russia would be connected, adding that feasibility studies for the connection via the Republic of...

Dhahran, Saudi Arabia - Aramco, one of the world’s leading integrated energy and chemicals companies, has successfully produced the first unconventional tight gas from its South Ghawar operational area two months ahead of schedule. The development supports Aramco’s strategy to increase gas production by more than half over 2021 levels,...

Dubai, UAE -- As world leaders and climate experts gear up for the COP28 climate summit scheduled to take place in the United Arab Emirates (UAE), the latest data on global climate conditions issues a compelling and urgent call to action, an expert has said. The National Oceanic and Atmospheric...

The country has been installing renewable energy capacity at breakneck speed, with new solar in 2023 alone amounting to twice the entire installed capacity in the US. the analysis, released by climate site Carbon Brief, said. The ramp-up in installation is all but guaranteed to push fossil-fuel electricity generation and...

The two companies will invest up to US$1.5 billion.

Dubai is actively implementing climate adaptation strategies and technologies in transportation and infrastructure to mitigate climate change effects and enhance the city's resilience.

Riyadh, Saudi Arabia - Saudi Arabia said on Thursday that policies to address climate change should not "crush the bones" of countries grappling with energy poverty, ahead of the COP28 climate talks in Dubai. Speaking at a conference on economic cooperation with Africa, the Gulf kingdom's energy minister Prince Abdulaziz bin...

The emirate’s solar energy capacity has increased by over 100 times in the past decade, and the cost of solar energy has fallen dramatically. It is now one of the cheapest places in the world to generate solar power.

Darmstadt, Germany - The first images from Europe's Euclid space telescope were released on Tuesday, showing a nebula resembling a horse's head, never-before-seen distant galaxies and even "circumstantial evidence" of elusive dark matter. Euclid blasted off in July on the world's first-ever mission aiming to investigate the enduring cosmic mysteries of...

The oil giant posted a 23% drop in profits for Q3 to US$32.58bn.

DOHA, QATAR - Qatar has agreed to supply Sinopec with natural gas for 27 years, the Gulf emirate's state-owned energy company said on Saturday, its second such deal with the Chinese firm.   Doha will supply three million tonnes of gas a year under the deal, QatarEnergy said, announcing another agreement granting...

VIENNA, AUSTRIA – High-level representatives from the member states of the United Nations Industrial Development Organization (UNIDO), international organizations, experts from over 145 countries gathered here to explore solutions for moving towards net-zero and meeting the Sustainable Development Goals. The two-day International Vienna Energy and Climate Forum, which concluded on...

The company announces a buyback of shares worth $3.5bn.

To encourage renewable energy, Iraq's Central Bank in 2022 announced the allocation of $750 million in almost zero-interest loans for individuals and private companies adopting solar power. But the initiative is "stalling due to a lack of cooperation from banks", according to Mohamed al-Duleimi, an expert in renewable energies.

Dubai, UAE-- Dubai Electricity and Water Authority (DEWA) has held discussions with a delegation from Germany on how to boost cooperation in clean and renewable energy. In this regard, Saeed Mohammed Al Tayer, MD and CEO of DEWA), received a high-level delegation from the German region of Lusatia, led by...

The oil giant had posted a net loss of $2.2bn the previous year.

SHENYANG, CHINA – Investments in the country’s northeast have grown over the past years as several multinational corporations put in more money or enhanced investments in the area. One such investment is in the mega Saudi-Chinese petrochemical project in Panjin City, Liaoning Province, by Aramco and joint venture partners NORINCO...

London, United Kingdom - Britain on Monday awarded 27 new licenses for oil and gas exploration in the North Sea as it seeks to quickly boost energy security, but the announcement angered environmentalists. The Conservative government has argued that drilling for new oil and gas is necessary to bolster Britain's energy...

New York, United States - Oil prices experienced a 3% surge on Friday, reaching a one-week high, driven by escalating tensions in the Middle East, raising concerns about potential disruptions in global crude supplies, Reuters reported. Brent crude futures increased by $2.55, or 2.9%, settling at $90.48 a barrel, while...

The drop was due to sharply lower gas prices and offshore wind problems.

RIYADH, SAUDI ARABIA – The gross domestic product of the Kingdom exceeded US$1 trillion which displays strong progress towards meeting its Vision 2030 targets, a report revealed. Saudi Arabia's non-oil private sector is leading in growth for 2023, having accelerated to 5.8 percent year-on-year (yoy) in Q2 2023 and is...