Tag Archives: Gulf News

Porsche has no plan to make an electric version of its iconic 911 sports cars. So, how to ensure continued sale of its flagship model far into the future, when governments around the world, including California’s, are planning to eventually ban sales of new internal combustion cars? Porsche’s answer: carbon-neutral …

UAE’s discovery of new oil resources will take the country’s total conventional oil reserves to 107 billion barrels, placing the OPEC nation near Russia, one of the world’s largest energy exporters. The find “strengthens the country’s position in sixth place in the world in the list of countries with the …

Earlier this month, Royal Dutch Shell Plc pulled the plug on its Convent refinery in Louisiana. Unlike many oil refineries shut in recent years, Convent was far from obsolete: it’s fairly big by U.S. standards and sophisticated enough to turn a wide range of crude oils into high-value fuels. Yet …

When OPEC and its allies met last month, Saudi Arabia’s energy minister dared oil speculators to test his determination to stabilize global markets. Now that a resurgent pandemic is threatening demand once again, the moment of reckoning is getting closer. The coalition of crude producers gathers on Monday to assess …

The Organization of Petroleum Exporting Countries turned 60 on September 14 – and despite its colorful past, COVID-19 is proving to be its greatest challenge in that time span. The pandemic wiped out a third of global demand for oil during the darkest days of crisis – the second quarter …

It was meant to be the week when OPEC nations gathered in Baghdad to celebrate the cartel’s six decades as a dominant force in global oil markets. Instead, the Organization of Petroleum Exporting Countries and its allies will convene online, and reflect on whether the coranavirus has thwarted their best …

Saudi Aramco has joined with European and US supermajors – representing a third of the world’s oil industry – to begin curbing emissions at their own operations as the clamor builds for the biggest polluters to act on climate impact. Members of the Oil & Gas Climate Initiative, a group …

Oil turned around last week’s setback, extending a slow but relentless rise since falling into negative territory in April. US benchmark crude futures rose 2.3% Friday to close at the highest level since March 6. The 9.6% increase for the week marks the seventh gain in the last eight weeks. …

Volvo Cars’ manufacturing plant in Chengdu, the company’s largest in China, is now powered by 100 per cent renewable electricity. This takes the maker’s global renewable electricity mix in its manufacturing network to 80 per cent. The 100 per cent renewable electricity mix in Chengdu is the result of a …

Oil slipped from the highest settlement in 11 weeks on signs Russia was planning to start easing supply cuts from July, while tensions between the U.S. and China escalated amid the specter of sanctions. Futures fell 1.3% in New York after closing above $34 a barrel for the first time …