International

The European Union is looking to partner with the UAE to help accelerate energy transition and infrastructure development in Africa as part of the 27-member bloc’s €300 billion ($321.9bn) Global Gateway strategy, a senior EU official has said. There is great scope for the UAE, the Arab world’s second-largest economy, …

Turkish President Recep Tayyip Erdogan on Thursday accused Greece of militarizing its islands in the Aegean Sea with an eye toward threatening Turkey, in but the latest salvo in a series of tit-for-tat accusations between the two NATO members. Erdogan urged immediate demilitarization of the islands, stressing Turkey will never …

China’s self-developed multi-functional modular seabed trencher completed the laying of over 100 kilometers of the first offshore pipeline project in Bangladesh, setting world records in “sea land directional drilling crossing” and “deep-sea trench behind the channel,” the China National Petroleum Corporation (CNPC) announced Saturday. Directional drilling, also called directional boring, …

OPEC+ once again fell short of its oil production targets in May on continued production declines in many OPEC members, a survey by S&P Platts found, as cited by OPEC and Middle East managing editor Herman Wang. In April, OPEC alone missed its target by 2.7 million barrels daily, and …

After six challenging years for the GCC construction industry, contractors, consultants and suppliers can at last look forward to a return to growth and the prospect of rising project opportunities in 2022. With some $1.4tn-worth of construction and transport projects planned in the GCC yet to see their main contracts …

New planned LNG import facilities in the EU – especially in Germany, Italy, Greece, and the Netherlands – could supply a quarter more gas to the EU than before, with Italy ramping up gas imports and production and deviating from climate objectives, a report from the Climate Action Tracker (CAT) …

Environmental groups are starting legal action against the EU’s plans to fast-track funding and permits for 30 proposed gas projects. ClientEarth, Friends of the Earth Europe, Food & Water Action Europe and CEE Bankwatch Network believe the EU Commission has given “these climate-destructive projects VIP status, in contradiction of its …

At last week’s meeting, the OPEC+ group agreed to increase production for July and August by 216,000 barrels a day to 648,000 barrels, instead of the earlier 432,000 bpd threshold, thus doing its part to ease pressure on oil prices that have stabilized at high levels in recent weeks. The …

Rising costs and sanctions on Russia have lowered the profitability of oil exports for Kazakhstan’s state oil and gas firm KazMunayGas, which has been forced to accept discounts on its crude being carried via the Russian pipeline network. The CPC pipeline carries oil from Kazakhstan’s Tengiz oilfield to export infrastructure …

The UAE secured 32.1 percent of Japan’s crude oil needs in April, as the country’s imports of crude oil from the UAE reached 28.08 million barrels in April 2022, said the Agency for Natural Resources and Energy in Tokyo. The agency, part of the Japanese Ministry of Economy, Trade and …