Upstream investments in the oil and gas industry are still healthy and dwarf those made in low carbon projects and renewables as green funding are still billions short of what is required to meet COP requirements
US Department of State issues favorable 2024 Bahrain Investment Climate Statement
The investment climate in the Kingdom of Bahrain is positive and relatively stable. Bahrain maintains a business-friendly environment and a proactive approach to attracting foreign investment and business, the US Department of State statement revealed on Wednesday. State-owned enterprises (SOE) are the primary engines for growth, but Bahrain aims to...
Borouge full-year net profit $1bn
The firm posted third consecutive rise in quarterly earnings.
Saudi urges leniency in climate change policies for low income nations
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...Kuwait posts fiscal surplus after almost a decade, says finance ministry
Kuwait recorded its first surplus in nine years for the 2022-2023 fiscal year which ended in March, the finance ministry said, crediting last year's surge in oil prices. The Gulf emirate, whose revenues rely heavily on hydrocarbons, closed its fiscal balance with a surplus of $21 billion, the ministry said.
Turkey, Libya sign maritime hydrocarbons agreement
Turkey's foreign minister signed a deal in Libya's capital Monday allowing for oil and gas exploration in 'Libyan waters'.
Dana Gas to pay $85m H1 dividend
The dividend of 4.5 fils per share will be paid by 21 Oct.Dana Gas posts $110m profit
The better results were driven by high hydrocarbon prices.
Eni reports Q2 net profit of US$3.9bn
Italian energy giant Eni said Friday that its profits sky-rocketed in the second quarter as energy prices soared in the wake of the Russia-Ukraine crisis.
Russia warns G7 price cap on oil would increase its price
Moscow said Thursday that G7 plans to cap the price of Russian oil would lead to a shortfall on world markets and soaring prices for European consumers. "This is another attempt to interfere in market mechanisms, which can only lead to market imbalance," Deputy Prime Minister Alexander Novak said, warning...
Qatar trade balance surplus surged 120 percent in May
The year-on-year increase in total exports was mainly due to higher exports of petroleum gases and other gaseous hydrocarbons reaching QR 30.3 billion in May 2022.UAE and Qatar top 2021 GCC economies
The two Gulf countries score high consistently on all seven parameters used to measure the status of an economy.Britain may build seven nuclear power plants by 2050
Britain could build up to seven new nuclear power plants by 2050, as well as offshore wind to diversify energy sources, a senior minister said Sunday.
Kuwait projects $10 billion budget deficit for 2022-2023
Revenues are projected at $62.2 billion, up 72.2 percent from the current fiscal year's estimates.
UAE minister says global energy transition to take time
The United Arab Emirates’ minister of state, Sultan Al-Jaber, said that the world needs to accept that global energy transition will take time.
