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...

The French energy firm earned a net profit of $6.7 billion.

Abu Dhabi, UAE-- Trade between the UAE and Zimbabwe touched $2 billion last year as the bilateral relations between the two countries have strengthened in recent years. According to Lovemore Mazemo, ambassador of Zimbabwe to the UAE, the trade relations between the two countries are poised to grow further. The...

The firms will jointly establish an e-fuel demonstration plant.

RIYADH, SAUDI ARABIA – A total of 52 memorandums of understanding (MoUs) were signed at the Saudi-Korean Investment Forum here. The MoUs were signed by both government and private entities. Government agencies signed four MoUs with the private sector in areas such as real estate development, automotive, and water. President...

In June last year Eni agreed a deal with QatarEnergy for a 3.1 percent share in Qatar's North Field East project, the first phase of the Gulf emirate's expansion into the largest gas field on the planet, which extends into Iranian territory. The deal with Eni follows a quick succession...

Abu Dhabi, UAE--Kazakhstan is keen to expand trade ties with the UAE, setting a target of $1 billion in mutual trade. Speaking to a media outlet in Abu Dhabi, Arman Shakkaliyev, Minister of Trade and Integration of the Republic of Kazakhstan, said: ‘’We got some great plans to unlimit our...

It entered into seven solar, hydrogen agreements in China.

Riyadh, Saudi Arabia -- Saudi-listed ACWA Power has signed seven cooperation agreements with Chinese firms for solar, green hydrogen and water desalination projects. The agreements, signed during the third Belt and Road Forum held in Beijing on October 17-18, reaffirm ACWA Power’s commitment to collaborative sustainable development by leveraging its...

Abu Dhabi, UAE - ADNOC Gas on Wednesday announced a multi-year liquified natural gas (LNG) supply agreement, valued between $500 million (AED1.8 billion) and $700 million (AED2.5 billion), with JERA Global Markets, a trading subsidiary of JERA Co. This agreement builds on the long-standing relationship between the UAE and Japan...

RIYADH, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations, Amaala and The Red Sea, has completed the installation of the largest off-grid electric vehicle (EV) charging network in Saudi Arabia. The network includes more than 150 charging stations spread across...

Marrakesh, Morocco-- The war between Israel and Hamas has cast a shadow over the IMF-World Bank annual meetings in Morocco, with warnings on Thursday that it has darkened the outlook for an already sluggish global economy. The global lenders are holding their gathering, which brings together finance ministers and central bankers...

The Paris-based agency, in addition to its analysis and advisory roles, coordinates the release of emergency stocks held by its 31 mostly advanced-economy member nations. A surprise weekend attack by Hamas on Israel has left thousands dead and rattled oil markets amid fears that other nations might intervene and possibly...

Abu Dhabi, UAE-- The UAE and US have reviewed ways to accelerate cooperation in priority sectors such as clean energy, sustainable industrial development and advanced technology – areas where the UAE and US already share a successful track record. The discussion on the boosting of ties came up in a...

Washington, United States - US wholesale prices rose more than expected in September, government data showed Thursday, as energy prices continued to climb. The producer price index (PPI) rose by 0.5 percent last month, building on August's 0.7 percent increase, according to data from the Labor Department. This was above the...

Doha, Qatar - Qatar has agreed to supply France's TotalEnergies with natural gas for 27 years, its state energy company announced on Wednesday. Qatar will supply 3.5 million tonnes of gas a year under the deal, QatarEnergy said, following two agreements with Total last year for a share of the Gulf state's...

Borouge will also supply critical materials for UAE energy projects.

RIYADH, SAUDI ARABIA - The Clean Development Mechanism Designated National Authority (CDMDNA) announced on Monday the operation of Saudi Arabia's domestic market mechanism, Greenhouse Gas Crediting and Offsetting Mechanism (GCOM), at MENA Climate Week 2023 here.  This step reflects the Kingdom’s role in addressing climate challenges and enabling institutions to...

Bishkek, Kyrgyzstan--The UAE and Kyrgyzstan have discussed mechanisms to enhance joint cooperation in various fields, especially renewable energy, transportation, and logistics services in a meeting between Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure and Sadyr Japarov, President of the Kyrgyz Republic. The minister led a high-level UAE...

"This is the largest trilateral energy project" between the three ex-Soviet countries, Putin said, after formally launching the shipment. He was hosting a meeting in Moscow with his Uzbek and Kazakh counterparts, Shavkat Mirziyoyev and Kassym-Jomart Tokayev.

Moscow, Russia - Russian Vladimir Putin on Saturday announced the start of gas supplies to Uzbekistan via Kazakhstan, a boost for Russia's industry hit by a flurry of Western sanctions over the offensive in Ukraine. Despite being home to a wealth of natural  resources including gas, the Central Asian country of Uzbekistan has faced energy shortages. Moscow meanwhile...

ABU DHABI, UAE – ADNOC on Thursday announced the final investment decision (FID) and award of contracts for the Hail and Ghasha Offshore Development project. The project aims to operate with net zero carbon dioxide (CO2) emissions, reinforcing ADNOC’s legacy of responsible energy production and supporting its Net Zero by...

Brasilia, Brazil-- The UAE and Brazil have explored opportunities to develop cooperation in trade, energy and climate issues in a meeting between Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs of the UAE, and Mauro Vieira, Minister of Foreign Affairs of Brazil, in the capital, Brasilia. The meeting,...

Washington, US - Growing geopolitical fragmentation since the invasion of Ukraine has hit commodity markets, threatening to slow the transition to renewable energy as the world looks to combat climate change, the International Monetary Fund said on Tuesday. The fractures have led to a doubling in new trade restrictions on commodities...

Abu Dhabi, UAE - Global demand for all forms of energy is forecast to rise by 25% through 2045, according to Haitham Al Ghais, Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC). “By 2045, the world's energy demand is expected to increase by 25% from current levels, as...

Abu Dhabi, UAE - UAE’s clean energy powerhouse Masdar expands Central Asian presence with agreement to explore ground-mounted solar, onshore wind, floating solar and hydropower in land-locked and water-rich Tajikistan MW Energy, a joint venture between Abu Dhabi Future Energy Company – Masdar and W Solar Investment, has signed an...

Abu Dhabi, UAE-- The UAE will produce 19.8 gigawatts of clean energy by 2030, Suhail bin Mohamed Al Mazrouei, Minister of Energy and Infrastructure, told a global audience of energy leaders at opening of ADIPEC 2023, which convened today under the theme of ‘Decarbonising. Faster. Together.’ Speaking at ADIPEC’s ministerial...

President of the upcoming COP28 climate talks Sultan Al Jaber, also the head of UAE state-owned oil firm ADNOC, told an oil conference that the fossil fuel industry would play an essential role in addressing the crisis. "This industry has been viewed as part of the problem, that it's not...

Dubai, UAE - Dubai Electricity and Water Authority (DEWA) commissioned the 200MW second unit of the parabolic basin complex in fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park, local media reports said. This phase uses the Independent Power Producer (IPP) model with investments of up to AED...

The Gulf kingdom, the world's biggest crude exporter, had planned for a surplus of 16 billion Saudi riyals ($4.27 billion) in 2023 but now predicts a deficit of 82 billion Saudi riyals ($21.86 billion), or two percent of GDP, according to the ministry's pre-budget statement. A deficit of 79 billion...

Bridgetown, Barbados-- The UAE and Barbados have discussed prospects for bolstering bilateral cooperation, particularly in climate action and renewable energy, besides looking to boost economic and trade ties between the two countries. The subject was discussed in a meeting between Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs...

PARIS, FRANCE - Europe must invest more quickly and massively in its energy transition if it wants to remain a global industrial power, top policymakers warned on Friday. The plea was made at a conference on the clean energy transition hosted by the International Energy Agency, the European Central Bank and...

The deal will be Aramco's first international investment in LNG.