Emarat partners with Al Maryah Bank
Al Maryah gets first naming rights for Emarat fuel stations.
Coal still the fossil fuel most responsible for global warming: Report
The number of coal-fired power plants in the pipeline worldwide declined in 2021, according to research released Tuesday, but the fossil fuel most responsible for global warming still generated record CO2 emissions, threatening Paris climate goals. Since the 195-nation treaty was inked in 2015, coal power capacity under construction or...Morocco prime minister’s petrol business at center of dispute
Soaring fuel prices in Morocco have placed billionaire petrol magnate Aziz Akhannouch -- who is also prime minister -- at the heart of a reignited debate about the conflict between business and politics. For the first time since the war in Ukraine led to a global jump in crude prices,...Iran Guards seize vessel smuggling fuel in Gulf
Iran's Revolutionary Guards seized a foreign vessel smuggling fuel in the Gulf and arrested its crew members, state media said Sunday, in the third such incident reported this month. The Guards "seized a foreign vessel carrying 200,000 liters of smuggled fuel in the Persian Gulf and directed it to Bushehr...Divers find ‘no leaks’ from fuel-laden ship sunk off Tunisia
Divers who inspected the hull of a tanker loaded with 750 tonnes of fuel that sank off southeast Tunisia have detected no leaks, officials said. The Equatorial Guinea-flagged Xelo, which sank yesterday in the Gulf of Gabes, has settled on its side at a depth of almost 20 metres, the...Tunisia works to contain diesel spill after cargo ship sinks
The tanker XELO, carrying 750 tons of diesel from Egypt to Malta, sank in the Gulf of Gabes off Tunisia’s southeast coast.Iran Guards say ship smuggling fuel seized in Gulf, 7 arrests
Iran's Revolutionary Guards said Friday they seized another vessel smuggling fuel in the Gulf and arrested its seven crew members, the second such incident in as many weeks. "Naval forces have seized a vessel carrying smuggled fuel in the Persian Gulf," said Gholamhossein Hosseini, a public relations official of the...Sri Lanka imposes fuel rationing as economic crisis worsens
Cash-strapped Sri Lanka imposed fuel rationing on Friday in another worsening of the economic crisis that has sparked widespread demonstrations calling for President Gotabaya Rajapaksa's resignation.Iraqis queue for fuel as stations protest government
Motorists in Iraq formed long queues for fuel Thursday after some owners of filling stations shut off their pumps to protest government policies on fuel distribution and pricing. Some government-run fuel stations have been ordered to operate around the clock to meet demand, the official news agency INA reported.Petrobras names new CEO
Jose Mauro Coelho was appointed to the post for a one-year term.Sri Lanka declares $51 bn foreign debt as economic crisis worsens
Sri Lanka's snowballing economic crisis began to be felt after the coronavirus pandemic torpedoed vital revenue from tourism and remittances.Iran seizes fuel-filled boat in Gulf, arrest 11
Iran's Revolutionary Guards have seized a foreign boat smuggling fuel in the Gulf and arrested its 11 crew members, a senior justice official said Saturday.Yemen truce brings a windfall, two fuel ships dock at a port
Two fuel ships have entered war-torn Yemen's port of Hodeida, the first shipment in months, the rebels who control the city said Monday, after a UN-brokered truce went into effect.Gulf countries warm up to waste-to-fuel plans
Here’s a broader look at how the region has prioritized solid-waste recycling and the production of alternative fuels to deal with the trash they generate.Bolsonaro removes Petrobras president after surge in fuel price
Brazilian President Jair Bolsonaro decided on Monday to replace the president of state-owned oil giant Petrobras, Joaquim Silva e Luna, amid strong pressure due to recurrent increases in fuel prices.Canada torn between economy, climate in deciding oil project
Environment Minister Steven Guilbeault will soon face his first major test in deciding on a new offshore oil project.alfanar invests $1.3bn in UK
The money will go in producing aviation fuel from waste.In fair phase-out of oil, gas-rich nations should stop first: Report
For a 50/50 chance of limiting the rise in global temperatures to 1.5C, 19 countries in which per capita GDP would remain above $50,000 without oil and gas revenue must end production by 2034. Included in this tranche are the US, Norway, Britain, Canada, Australia, and the United Arab Emirates.Italy to tax energy profits to ease price burden
The amount generated is expected to help families and businesses struggling with high bills.Morocco truckers observe strike to protest soaring fuel price
Moroccan truck drivers are observing a three-day strike in protest at spiraling fuel costs, a union said Tuesday, as oil prices spike over Russia's war in Ukraine.Is GCC inflation getting out of control?
Central bank action and risks to financial stability must be carefully monitored and managed as loose monetary policy is unwound. A sudden rise could cause a shock to the Gulf economies leading to a recession.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.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.DWC Airport to host Business Aviation Event ‘MEBAA’ in December
DWC Airport in Dubai will host the MEBAA Show, a business aviation platform, from 6-8 December 2022. The event will showcase the latest trends, insights, innovation and commercial opportunities shaping the future of business aviation and private flying in the Middle East and globally. Several international companies have already signed...Top oil producers to discuss high crude prices
Analysts expect that this meeting will decide to boost output by 400,000 barrels per day in March, in line with their strategy to slowly re-open the taps since May last year.Green hydrogen planes will only limit CO2 emissions: Study
If all aircraft started using green hydrogen on eligible routes, it would 'reduce aviation's carbon emissions by 31 percent in 2050, representing a capping of emissions at 2035 levels,' found the International Council on Clean Transportation. However, this would not entirely eliminate CO2.‘World first’ hydrogen shipment set to leave Australia for Japan
A state-of-the-art liquid hydrogen tanker readied for loading in Australia Friday ahead of shipment to Japan, in what Canberra described as a "world first" trial of the technology. The Suiso Frontier is docked near Melbourne and is being loaded with super-cooled hydrogen, a source of fuel that supporters hope could...Lebanon town warns of looming heating tragedy
Arsal town is home to 70,000 Syrian refugees. The cost of fuel families need to power their stoves has risen by around 350 percent after Lebanon lifted fuel subsidies.Sonatrach plans $40bn investment
The Algerian firm will make the investments over five years.Lebanon fuel distributors urge government to curb dollar rise
The Lebanese pound has lost more than 90 percent of its purchase power since end-2019, due to its devaluation against the dollar. The exchange-rate problem has led to a fuel shortage in Lebanon, to the extent that the entire country was plunged into darkness earlier this year.Is GCC inflation out of control?
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.Recyclers try to conquer mountains of waste in Tunisia
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.Iran-linked hackers attack Israeli targets, says Tel Aviv firm
An Iran-linked hacking group attacked seven Israeli targets over a 24-hour period this week, an Israeli cyber-security firm said, in the latest episode of cyber-warfare between the rival states. The targets of the attack by the group called "Charming Kitten" included the Israeli "government and business sector", Tel Aviv-based Check...Oman budget deficit down by 62.9 percent as oil prices recover
The deficit had fallen to RO1 billion ($2.6 billion) by October-end from RO2.71 billion ($7.05 billion) during the same period in 2020.Saudi Arabia, UAE ripe for hydrogen investments
Green hydrogen has the potential to rapidly replace fossil fuels on a large scale, says Cranmore Managing Partner Yusuf Macun.Egypt’s private sector non-oil activity shrinks in Nov as input costs rise
Egypt's non-oil activity in the private sector shrank for a 12th month in November as inflation expectations rose, causing new business orders to fall by their fastest in a year, a survey said. Media reports said IHS Markit's Purchasing Managers' Index (PMI) came in at 48.7, below the 50.0 threshold...Covid-19, conflict and costs pushing Syria beyond limits: WFP
World Food Program Executive Director David Beasley has warned that more people in Syria are in the grips of hunger than at any time in the country’s decade-long conflict. He blamed a deadly combination fighting, climate change, Covid-19, and rising food and fuel costs for the problems.ADNOC Distribution’s Q3 profit is $144m
The profit is 21 percent lower than Q3 2020 due to a lower fuel margin.How much does fuel cost in Arab countries?
Merely producing great quantities of oil or having a shortage does not dictate whether a country will have the cheapest or costliest gasoline.Syria to withdraw subsidy to its richest citizens
Syria's 800,000 richest citizens -- typically high-earners working in the private sector -- will now be exempt from government subsidies on bread and fuel.Iran suspects Israel and US behind fuel cyber attack
An Iranian general has said Israel and the United States were likely to have been behind a cyber attack that interrupted the distribution of fuel at service stations. In July, Iran's transportation ministry said a "cyber disruption" had affected its computer systems and website.Iran petrol network partially restored after cyberattack
Among 4,300 fuel stations across the country, at present 1,450 are connected to the central fuel distribution system that provides subsidized fuel to motorists. A further 2,350 stations were delivering unsubsidized fuel. ÂElectrified cars hit almost a fifth of EU Q3 vehicle sales
At least one in five vehicles sold in the European Union (EU) in the third quarter of the current fiscal was an electrified model as sales continued to soar while fossil-fuel cars slumped, according to sales data released yesterday by a trade organization.Lebanon needs $1bn for local currency to regain value: Minister
Lebanon’s Information Minister George Kordahi has said that the country needs $1 billion to bring up the value of the Lebanese pound against the dollar. He acknowledged the fact that the demand for dollars is high, especially since diesel fuel is sold today in dollar terms.Lebanon hikes fuel prices in de facto end to subsidies
The end to subsidies pushes the cost of filling a vehicle's tank to more than the monthly minimum wage in the poverty-stricken nation. Subsidies were gradually phased out over the past few months to shore up diminishing foreign currency reserves.Lebanon’s car culture comes into question amid fuel crisis
In the absence of a functioning public transport system, car culture has thrived in Lebanon, with many households, even modest ones, boasting multiple vehicles. Since 2019, however, an ever-worsening financial crisis has made petrol unaffordable for many and long queues at gas stations unbearable for the rest.Power partially restored in Lebanon after nationwide blackout
Lebanon's electricity grid was back online Sunday after the army supplied fuel to two key power stations that had run out, a minister said, ending almost a day of total blackout. The Deir Ammar and Zahrani plants ground to a halt Saturday, causing the state electricity network to collapse completely.Lebanon in blackout as power stations run out of fuel
State electricity in most places is barely available for an hour a day amid rolling power cutsLebanon reaches out to Arab countries
Lebanese Prime Minister has confirmed that his country has reached out to Arab and Gulf nations for help, but the much-needed financial and economic aid to crisis-hit Lebanon is still locked until the government accomplishes fundamental reforms.UN starts program to give electricity, water to Lebanon
Helped by the UN, Lebanon will get fuel to keep its healthcare and water-supply facilities for the next three months.Stock markets in GCC rise as oil prices gain
Most stock markets in the Gulf rose on Thursday as oil prices gained on growing fuel demand and a bigger-than-expected draw in U.S. crude inventories, although the Abu Dhabi index bucked the trend to trade lower.