Oil prices rose in morning trade on Tuesday amid signs that China’s economic recovery is boosting crude demand. Brent, the benchmark for two thirds of the world’s oil, was 1.46 per cent higher at $82.17 a barrel at 10.39am UAE time while West Texas Intermediate, the gauge that tracks US …
Read More »Hydrogen at Centre of China’s Plans to Win Bigger Share of Green Energy Market
A decade ago, China used low prices to dominate solar manufacturing, wiping out western competitors right as worldwide demand for panels started to soar. The US and Europe are determined not to let the same thing happen with hydrogen. As the world sprints to decarbonise, the next round of competition …
Read More »Oil Prices Slip after Three-Day Rally amid Demand Concerns as Fed Raises Rates
Oil prices fell on Thursday as the possibility of further interest rate increases offset growing optimism over China’s demand outlook. Brent, the benchmark for two thirds of the world’s oil, was trading 0.56 per cent lower at $82.24 at 10.17am UAE time. West Texas Intermediate, the gauge that tracks US …
Read More »Germany Secures Qatar LNG Supply under ConocoPhillips Deal
Qatar has agreed to supply Germany with liquefied natural gas under a long-term deal as the latter continues to seek alternatives to Russian pipeline gas supply. State-owned QatarEnergy signed deals with ConocoPhillips that will see deliveries of about 2m tons of LNG annually to Germany over 15 years, starting in …
Read More »EU Diplomats Fail to Agree on $62 Cap as Price of Russian Oil Falls
European Union diplomats meeting for a second week in a row failed to agree on a ceiling to cap Russian oil exports as countries remained divided about how to best to reduce Moscow’s capacity to fund its war in Ukraine. The European Commission brought down its initial suggestion of $65-$70 …
Read More »Adnoc Drilling Plans GCC Expansion as Oil and Gas Activity Increases
Adnoc Drilling, the largest national drilling company in the Middle East by rig fleet size, is looking to expand into the GCC as drilling activity increases after a surge in crude oil prices, according to the company’s chief executive. Rig activity in the GCC, which includes Bahrain, Kuwait, Qatar and …
Read More »Why India is Pushing Ahead with Nuclear Power Plans
India is pushing ahead with plans to boost the country’s nuclear power capacity to meet its growing energy needs and reduce its carbon footprint. This is despite hurdles such as the cost and public opposition owing to safety concerns. The Indian government plans to triple its nuclear power generation capacity …
Read More »France’s TotalEnergies Signs Deal to Develop Giant Gas Field in Qatar
French oil company TotalEnergies was awarded a 25 per cent stake to develop the world’s largest natural gasfield in Qatar as the Gulf state aims to increase its production and respond to higher global demand for LNG. State-owned QatarEnergy will hold the remaining 75 per cent stake in the North …
Read More »EU Seeks Partnership with UAE on Africa Energy Transition and Infrastructure Projects
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, …
Read More »Oil Bull Run Extends as EU Agrees to Ban most Russian Crude Imports by End of 2022
Oil prices extended their rally on Tuesday after the EU agreed to ban most of Russia’s oil imports by the end of the year, raising concerns about a tighter market amid higher demand expectations in the summer. Brent, the benchmark for two thirds of the world’s oil, was up 1.43 …
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