Energy UAE president stresses support for global energy security The president of the United Arab Emirates said on Wednesday the Gulf OPEC producer would continue to support global energy security as a main driver of global economic growth, ahead of a US-Arab summit in neighbouring Saudi Arabia this week. Sheikh Mohammed bin Zayed al-Nahyan, in his first televised address since becoming president in May, […] July 14, 2022
Energy France in talks with Abu Dhabi to import fuel this winter France is talking to Abu Dhabi about importing fuel and diesel for the coming winter season, TotalEnergies Chairman and CEO Patrick Pouyanne said, Reuters reported on Wednesday. Pouyanne told the French Senate this was a response to the Russia/Ukraine conflict, which has impacted Russian energy supplies to Europe. Fuel prices in France were at $2.27 […] July 14, 2022
Energy Biden en route to Israel for high-stakes Middle East visit US President Joe Biden arrives in Israel on Wednesday to kick off a high-stakes trip to the Middle East dominated by efforts to persuade Gulf allies to pump more oil and bring Israel and Saudi Arabia closer together. Biden will spend two days in Jerusalem for talks with Israeli leaders before meeting Palestinian President Mahmoud […] July 13, 2022
Energy UAE firms sanctioned in Iranian oil shipment crackdown The United States has imposed sanctions on four United Arab Emirates-based companies accused of being part of an international network engaged in the illicit sale and shipment of petroleum, petroleum products, and petrochemical products from Iranian firms to China and elsewhere in East Asia. The US Department of the Treasury’s Office of Foreign Assets Control […] July 7, 2022
Opinion Energy RIP Mohammad Barkindo: a pioneer full of energy The OPEC secretary general cared deeply about climate change and was instrumental in the transition to a decarbonised world July 7, 2022
Energy Biden won’t push Saudi crown prince on oil U.S. President Joe Biden on Thursday said he would see Saudi Arabia’s king and crown prince during a visit to the country next month but that the purpose of his trip was not to press them to increase oil output. Asked at a press conference in Spain if he would ask the Saudi leaders to […] July 1, 2022
Energy G7 should opt for fuel tax cut over price cap, says Saudi-based analyst A proposal by the G7 group of leaders to look at the feasibility of introducing a price cap on energy imports was dismissed as “highly doubtful” by a top Saudi-based energy analyst. A report by the Financial Times on Tuesday claimed that the G7 leaders – which includes Canada, France, Germany, Italy, Japan, the UK […] June 29, 2022
Energy Iran, US hold nuclear talks with EU in separate Doha hotel rooms Indirect nuclear talks between Tehran and Washington started on Tuesday in Doha, Iranian state media reported, as Iran’s chief nuclear negotiator met with European Union envoy Enrique Mora, who will shuttle between the American and Iranian sides. Based in separate rooms in a hotel in Qatar’s capital, Iran’s Ali Bagheri Kani and US Iran special […] June 29, 2022
Energy Alpha Dhabi deal to shape future of energy in Libya Alpha Dhabi subsidiary W Solar agrees long-term renewable energy partnership with General Electricity Company of Libya June 29, 2022
Sustainability Climate target aided by surging oil price, says top US banker Oil and gas-producing countries can capitalise on the commodity price boom to fuel their transition to net zero, the boss of one of the world’s leading financial institutions said yesterday. Arshad Ghafur, president of the MENA region at Bank of America, made the comment in a speech to the Dubai International Financial Centre’s Fintech Week, […] June 29, 2022
Energy Russia’s Lavrov visits Iran to discuss nuclear deal Russian Foreign Minister Sergei Lavrov arrived in Iran on Wednesday, Iranian state TV reported, as world powers and Tehran are struggling to revive their 2015 nuclear pact and negotiations are stalled. Russia’s foreign ministry posted a clip of Lavrov’s opening remarks during a meeting with Iran’s President Ebrahim Raisi in which he said Moscow was […] June 23, 2022
Analysis Energy Oil sector revs up to exploit higher prices The Iraqi oil sector is surging, with revenues hitting $11.1 billion in March – the highest monthly oil export figure since 1972. In April, crude oil exports (excluding the Kurdistan region) rose by 3.9 percent to 3.38 million barrels a day. Buoyed by promising increases in output and high oil prices, Baghdad is setting optimistic […] June 23, 2022
Energy Abu Dhabi deal aims to build global clean energy powerhouse Abu Dhabi National Energy Company (TAQA) and Abu Dhabi National Oil Company (ADNOC) have signed binding agreements to buy stakes in Abu Dhabi Future Energy Company, better known as Masdar, from Mubadala Investment Company. The partnership aims to create a global clean energy powerhouse that consolidates the renewable energy and green hydrogen efforts of TAQA, […] June 21, 2022
Analysis Energy Gulf defies oil financing trends as UN calls for end to fossil fuels The Middle East is boosting investment in oil and gas, bucking the global trend even as the United Nations calls for an end to the funding of fossil fuel projects. The MENA region is forecast to invest $879 billion in energy projects from 2022 to 2026, an increase of 9 percent over the previous five […] June 20, 2022
Analysis Middle East growth forecast brightens despite global gloom Growth forecasts for the Middle East have been revised upwards despite the darkening global landscape. Middle East GDP growth for 2022 is now projected at 5.2 percent, an increase of 1 percentage point on the forecast three months ago, according to the Economic Insight report for the Middle East, commissioned by the Institute of Chartered […] June 20, 2022
Energy Iran calls ‘for more consultation’ after UAE raises nuclear concerns Iran responds to UAE concerns over Tehran’s nuclear planIran on Saturday told the United Arab Emirates that Tehran gave a high priority to improving ties with its neighbours, Iranian state media reported, a day after the UAE voiced concern over Tehran’s nuclear programme. The UAE’s envoy at the United Nations’ nuclear watchdog on Friday said […] June 20, 2022
Energy UAE ‘at forefront’ of global climate fight after new $50bn pledge The UAE is now at the forefront of the global fight against climate change after President Sheikh Mohamed bin Zayed Al Nahyan pledged an extra $50 billion investment over the next decade. That’s the view of Mariam bint Mohammed Almheiri, the country’s Minister of Climate Change and the Environment, following the UAE President’s commitment announced […] June 18, 2022
Energy Italy may declare state of alert on gas next week Italy may declare the state of alert on gas next week if Russia continues to curb its gas supplies to Rome, two government sources said on Friday. Italy’s existing gas emergency protocol envisages three stages going from a state of pre-alert, imposed at the end of February after the Russian invasion of Ukraine, before moving […] June 17, 2022
Analysis Energy ACWA places faith in hydrogen to power Saudi’s future Saudi Arabia, the world’s top oil exporter, has grand ambitions to become the globe’s number one producer of green hydrogen. The kingdom is aiming to produce around four million tonnes of the gas by 2030 as part of Saudi Crown Prince Mohammed bin Salman’s (MbS) Vision 2030 to diversify the economy. Green hydrogen is set […] June 17, 2022
Energy Oman’s Sultan replaces oil minister in cabinet reshuffle Oman’s ruling sultan replaced the Gulf Arab state’s long-serving oil minister Mohammed bin Hamad Al-Rumhi on Thursday with Salem al-Aufi who was appointed to the post in a cabinet reshuffle announced on state television. Rumhi had been oil minister for over two decades. Oman is not in the Organization of the Petroleum Exporting Countries but […] June 17, 2022
Energy Bahrain gets new oil minister in cabinet reshuffle Bahrain’s King Hamad bin Isa al-Khalifa ordered a cabinet reshuffle on Monday that included appointing a new oil minister, state media reported. Mohammed bin Mubarak Bin Dainah, who was the country’s envoy for climate affairs, was named minister of oil and environment, replacing Oil Minister Sheikh Mohammed bin Khalifa bin Ahmed Al Khalifa. The reshuffle […] June 14, 2022
Energy Iran expanding nuclear work, switches off UN watchdog’s cameras Iran has begun further expanding its underground uranium enrichment and said on Wednesday it would switch off two of the UN nuclear watchdog’s cameras, as the watchdog’s 35-nation board overwhelmingly passed a resolution criticising Tehran. Only Russia and China opposed the resolution submitted by the United States, Germany, France and Britain saying the Board of […] June 9, 2022
