Tag Archives: The National

Saudi Arabia’s King Salman said the OPEC+ production agreement was “essential” for oil market stability and urged all participating countries to comply with the pact. Oil market stability and balance are pillars of Saudi energy policy as crude supports the growth of the global economy, King Salman said in an …

Oil climbed as investors weighed a surge in Omicron cases against signs that the new strain is not as severe as previous waves. Brent was 0.39 per cent higher at 9.40am UAE time after losing 0.9 per cent in the previous session. West Texas Intermediate, which didn’t trade on Friday …

Global coal-generated power demand is expected to hit record highs this year, threatening the world’s net-zero targets aimed at cutting greenhouse gas emissions, the International Energy Agency (IEA) said. Power generation from coal globally is expected to jump by 9 per cent in 2021 to an all-time high of 10,350 …

How many times has the Conference of the Parties – the annual UN climate conference – been held in a major oil and gas exporting country? Only twice, compared with 14 in Europe and four times in Germany. So, the decision to hold 2023’s Cop28 in the UAE is a …

Iraq, OPEC’s second-largest producer, plans to invest $3 billion annually to replace the burning of liquids at its power plants with natural gas, the country’s deputy minister said. “We’re also drawing policies to stop burning accompanying gas [flared gas] that will stop for good by 2025,” said Ali Allawi, who …

Saudi Arabia is aiming for a net-zero carbon target by 2060, Crown Prince Mohammed bin Salman said at the Saudi Green Initiative Forum (SGI) on Saturday. The kingdom plans to cut 278 million tonnes of carbon emissions by 2030, he said in recorded comments. This would entail investments of more …

Rome wasn’t built in a day, the saying goes. To deal with a security threat as universal and pressing as climate change, all countries need to agree on a vision and a timeline. They need clear objectives to be met within stipulated time periods, often encompassing decades. Then comes the …

Meeting the net zero carbon emissions target by 2050 is a “massive challenge” for the aviation industry but it offers a huge opportunity for the sustainable aviation fuel (SAF) sector, which is already being propelled by the Covid-19 pandemic, industry experts said. Investments in the SAF industry and work towards …

OPEC+, the exporters’ group making corrections in the supply of crude oil, will stick to its plan to incrementally bring 2 million barrels per day back to the markets by the end of the year, the UAE’s energy minister has said. “I think that if things move as they are, …

The UAE is seeking a leadership position in blue hydrogen as it looks to achieve self-sufficiency in natural gas and tap the growing market for low-carbon fuel. The managing director and group chief executive of Abu Dhabi National Oil Company addressed a Gastech industry event on Tuesday, in Dubai. “Already …