The UAE economy is on track to record its strongest annual GDP growth since 2011, one of the latest in a series of quarterly economic reports released by Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia. Oxford Economics is …

European leaders have boasted about cutting their reliance on Russian gas since Vladimir Putin invaded Ukraine. But that’s only part of the truth. While supplies of natural gas delivered by pipeline fell dramatically this year, liquefied natural gas (LNG) imports from Russia into the EU increased by 46 percent year-on-year …

Armenia gets the bulk of its natural gas from Russia. But ties with Moscow are fraying and Yerevan will soon have more alternatives Iran and Armenia have agreed to double the amount of natural gas that Iran sells to Armenia, and to extend their gas trade agreement to 2030. The …

The State Organization for Marketing of Oil (SOMO) intends to increase its share in the European market amid the decline in Russian imports to the region and its need to provide alternatives. Head of SOMO, Alaa Al-Yasiri, mentioned that the work mechanisms of SOMO are focused on ensuring the marketing …

Head of Iranian Petroleum Industries Equipment Manufacturers Association (known as SIPIEM) has said over 17 percent of the country’s knowledge-based companies are active in the oil, gas, and petrochemical sectors, Shana reported. Speaking at a conference on the promotion of knowledge-based companies dubbed “Development of relations with knowledge-based and technological …

Europe must act immediately to prevent a shortage of natural gas next year as Russia slashes deliveries in the wake of the Ukraine war, the International Energy Agency warned Thursday. The IEA said the shortfall would occur if Russia stops pipelines deliveries completely and China steps up its imports of …

France is staring down a serious risk of blackouts this winter, with French utility EDF lowering its nuclear power output forecast for this year to 275-285 terawatt hours, according to Bloomberg’s Javier Blas. The shift in power forecast is a sizeable one, down from its previous 280-300 TWh, which EDF …

U.S. imports of crude oil from Iraq averaged 148 thousand barrels per day (bpd) in October, the Energy Information Administration (EIA) said. According to EIA’s monthly report, October imports from Iraq reached 4.588 million bpd (daily average 148 bpd). Iraq oil exports to the U.S. averaged 109 thousand bpd in …

A senior official from Turkmenistan this week again dangled the prospect of his country exporting its gas directly to European markets through a Trans-Caspian pipeline route, but with a lack of enthusiasm that should probably have Brussels concerned. Speaking at the Abu Dhabi International Petroleum Exhibition and Conference, or ADIPEC, …

Azerbaijan and Georgia are hoping to capitalize on their rising geopolitical significance and gain a new route to supply Europe with electricity. Plans for an electricity cable stretching beneath the Black Sea from Georgia to southeastern Europe have been on the table for several years now. But with European energy …