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The first day of the 10th Arab-China Business Conference in Saudi Arabia ended with the signing of 30 investment agreements worth 37.5 billion Saudi riyals ($9.9 billion). The parties signed agreements in the field of technology, renewable energy, agriculture, real estate, minerals, logistics, tourism and healthcare, the state-run Saudi Press …

Saudi Aramco has told at least five customers in North Asia they will receive full nominated volumes of crude oil in July, several sources with knowledge of the matter said on Monday, after it pledged to cut production next month. Saudi Arabia, the world’s top oil exporter, vowed to reduce …

The nuclear arsenals of several countries, especially China, grew last year and other atomic powers continued to modernise theirs as geopolitical tensions rise, researchers said on Monday (Jun 12). “We are approaching, or maybe have already reached, the end of a long period of the number of nuclear weapons worldwide …

The head of the upcoming COP28 climate summit, who also is the chief executive of the UAE’s national oil company, has acknowledged that a reduction in the use of fossil fuels is inescapable. “The phase down of fossil fuels is inevitable,” Sultan al-Jaber said on the sidelines of technical climate …

The value of non-oil export from Isfahan province increased by 38 percent during the first two months of the current Iranian calendar year (March 21-May 21), as compared to the same period of time in the past year, the director-general of the customs department of the province announced. Rasoul Kouhestani-Pajouh …

China is racing toward decarbonization at a rate that few could have predicted. The nation is crushing its competition in terms of clean energy spending, and Bloomberg recently described that a frenzied air of enthusiasm about solar power and electric vehicles in China that “suggests China is nearing an inflection …

Saudi Crown Prince Mohammed bin Salman threatened the US with “major economic consequences” after President Joe Biden vowed “consequences” for the Kingdom after it slashed oil production last year, Azernews reports, citing Anadolu Agency. The allegation came in a report from the Washington Post newspaper on Thursday based on classified …

Poland could have been used as an operating base to carry out the attack on the Nord Stream gas pipelines last year, the Wall Street Journal reported on Saturday, citing findings of a Germany-led investigation. German investigators are examining why the yacht believed to have been used to carry out …

Saudi Arabia has announced the launch of the powergrid interconnection project with Iraq, which entails the implementation of a dual-circuit transmission line linking the northern city of Arar in KSA to Yusufiya in western Baghdad, boasting an initial capacity of 1000 megawatts. The agreement for the project was signed by …

The total number of total active drilling rigs in the United States fell by 1 this week, according to new data from Baker Hughes published Friday, falling by 53 over the last five weeks. The total rig count fell to 695 this week—38 rigs below this time last year. The …