Saudi Arabia said it’s interested in studying technology for small modular nuclear reactors, as the Middle East’s largest oil producer looks to diversify its energy sources and generate cleaner power for domestic use and export. The kingdom is “a late-comer” to nuclear power and aims to study all types and …
Read More »Middle East Tension Boosts Oil Prices
Oil prices were up more than $3 a barrel in Asian trade on Monday as military clashes between Israel and the Palestinian Islamist group Hamas deepened political uncertainty across the Middle East and raised concerns about supplies. Brent crude rose $3.10, or 3.67%, to $87.68 a barrel by 0400 GMT, …
Read More »Iraq and 5 Countries Renew Commitment to Supporting Oil Stability
In a joint statement released on Monday, Iraq, Saudi Arabia, the UAE, Kuwait, Oman, and Bahrain reaffirmed their commitment to “voluntary collective and individual production adjustments” for oil, according to the Reuters style news report. The statement followed a meeting of the oil ministers of the six countries on the …
Read More »UAE Launches 103MW of Wind Power Projects
UAE-based energy company Masdar has launched four wind farms with a total capacity of 103.5MW, as part of the UAE wind programme. The project sites are Sir Bani Yas Island in Abu Dhabi with 45MW of wind capacity and a 14MW solar farm, two 27MW wind farms on Delma Island …
Read More »Regulatory Hurdles Threaten Global Green Energy Ambitions
An effective green energy transition doesn’t just depend on the deployment of solar panels, wind turbines, and electric vehicle fleets – it also hinges upon a rapid buildout of all of the infrastructure that those components rely on, from long-term energy storage solutions to power lines. And grid regulators are …
Read More »Making Hydrogen-Powered Flights a Reality by 2035
Hydrogen-powered flight offers a potential route for zero carbon emissions flight. Airport infrastructure will be critical to its success, but airports will need to form new partnerships with companies outside of the sector to deliver it. A global centre of skills and innovation Hydrogen South West is a unique consortium …
Read More »Oil Prices Rise, but Post Biggest Weekly Decline since March
Oil prices rose on Friday but remained posted their steepest weekly losses since March, after another partial lifting of Russia’s fuel export ban compounded demand fears due to macroeconomic headwinds. On Friday, Brent futures settled up 51 cents at $84.58 per barrel. US West Texas Intermediate crude futures settled up …
Read More »Putin Launches Russian Gas Shipments to Uzbekistan
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 …
Read More »Russia Says won’t Resume Nuclear Tests despite Plan to Reverse Pact
Russia’s potential withdrawal from the Comprehensive Nuclear-Test-Ban Treaty (CTBT) will not imply that the country will restore nuclear tests, Kremlin spokesperson Dmitry Peskov said Friday in a statement. The statement came after Russian President Vladimir Putin said at the 20th Annual Meeting of the Valdai Discussion Club on Thursday that …
Read More »Pakistan to Discuss Long-Term Deal for Discounted Crude Oil Import from Russia next Week
The government is scheduled to discuss a long-term program for the import of discounted crude oil from Russia with the administration in Moscow next week, officials confirmed Arab News on Friday, as the South Asian state seeks to diversify its energy supplies at cheaper rates. A Pakistani delegation, headed by …
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