Tag Archives: Khaleej Times

The United States is happy for India to continue buying as much Russian oil as it wants, including at prices above a G7-imposed price cap mechanism, if it steers clear of Western insurance, finance and maritime services bound by the cap, US Treasury Secretary Janet Yellen said on Friday. The …

Saudi Arabia rejected statements criticising the Kingdom as “not based on facts”, after last week’s OPEC+ decision to cut its oil production target despite US objections, saying it served the interests of both consumers and producers. This decision was adopted through consensus, took into account the balance of supply and …

The UAE on Friday slashed retail fuel prices by 38 fils per litre for the month of October in line with the drop in global rates. This is the third consecutive month that the UAE has slashed retail fuel prices. In October, the prices were slashed by 62 fils per …

Abu Dhabi Future Energy Company – Masdar – and Germany’s RWE Renewables, two of the world’s leading renewable energy companies, announced today they have signed a Memorandum of Understanding (MoU) to explore collaboration on developing offshore wind projects in a range of key markets. Under the terms of the MoU, …

German businesses and public institutions should heat their offices no higher than 19 degrees Celsius (66.2 degrees Fahrenheit) this winter to help reduce the country’s consumption of natural gas, Germany’s economy minister said Saturday. Germany, the European Union’s biggest economy, is quickly trying to wean itself off using natural gas …

The UAE government’s net operating surplus more than doubled in the first quarter to Dh36.4 billion ($9.9 billion) as surging oil prices boosted public revenue, finance ministry data showed on Monday. High oil prices and increased production have been a boon for the UAE’s economy this year, along with a …

Russia became the fourth-largest oil supplier to India in April, with volumes set to rise further in coming months as low prices spur demand from the world’s number 3 oil consumer and importer, tanker tracking data showed. Russia’s share in India’s oil purchases rose to a record 6 per cent, …

The International Renewable Energy Agency (Irena) estimated that hydrogen will cover up to 12 per cent of global energy use by 2050. “Hydrogen could prove to be a missing link to a climate-safe energy future,” Francesco La Camera, Director-General of Irena, said while presenting the key findings of new report: …

Oil prices recovered some losses with WTI crude gaining over five per cent on Monday morning as investors were a bit cautious and focused on new coronavirus variant Omicron’s spread. The spread of a new Covid-19 variant from South Africa, Omicron, resulted in sharp risk-off sentiment and sell-offs in global …

India, the world’s third-biggest oil importer, has significantly reduced its imports from the Middle East as part of a drive to diversify crude sources. The share of Middle Eastern crude in India’s oil imports fell to a 25-month low in May, tanker data provided by trade sources showed, as refiners …