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Over the past decade, the Gulf Cooperation Council (GCC), comprising Saudi Arabia, Qatar, the UAE, Bahrain, Kuwait, and Oman, has advanced bold strategies to reshape its economies by reducing reliance on oil while developing new sectors like renewable energy, tourism, financial services, and digital innovation. Charting a course toward long-term …

The Danish wind giant Ørsted is fighting for its survival after United States President Donald Trump introduced a barrage of orders limiting the growth of the wind power sector. After declaring an energy emergency in the U.S. upon entering office in January, Trump has spent the past eight months introducing …

The world produces 460 million metric tons of plastic each and every year. But only about 9 percent of it gets recycled, leading to a ballooning plastic waste issue impacting every part of our planet, from the bottom of the Mariana Trench to the inside of your own skull. The …

China is set to continue its crude stockpiling throughout next year, but even the buying spree from the world’s top crude importer would not be sufficient to support oil prices into the $60s per barrel as a major glut looms over the market in the coming months. Lower oil prices …

Japan joins the EU in cutting the price cap on purchases of Russian oil to $47.60 per barrel, in a move effective Friday and aimed at punishing Russia over the war in Ukraine, yet unlikely to affect any Japanese purchases. Japan lowered the price cap from the $60 per barrel …

Global electric vehicle sales grew by 15% in August from a year earlier, slower than the 27% growth rate in January-July, as EV sales in the biggest market, China, increased by only 6%, data from EV research firm Rho Motion showed on Friday. China continues to be the world’s biggest …

Turkey’s state gas company BOTAS has locked in 15 billion cubic metres of liquefied natural gas (LNG) through new contracts with eight global suppliers, in a concerted effort to expand its energy portfolio and curb dependence on pipelines from Russia, Azerbaijan and Iran. Announced at the Gastech 2025 conference in …

Crude oil inventories in the United States increased by 3.9 million barrels during the week ending September 5, after falling 2.4 million barrels in the week prior, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The build brings commercial stockpiles to 424.6 million barrels …

Saudi Aramco, the world’s biggest crude oil exporter and the Saudi state-owned oil giant, is back tapping the debt markets this year with an offering of dollar-denominated Islamic bonds, Bloomberg reported on Wednesday, citing a source with knowledge of the plans. Aramco is said to be offering Islamic bonds, the …

Saudi Arabia has once again reduced the price of crude oil it sells to Asia, with the premium for the flagship Arab Light at $2.20 a barrel over the Dubai/Oman benchmark for cargos to be delivered in October. The price cut amounts to $1 per barrel from September, which was …