Tag Archives: United Arab Emirates

The postponement of the OPEC+ meeting will not jeopardize the group’s efforts until April 2022, but oil supplies are already squeezed in an already tight market. The agreement is still valid until then, even if the 18th OPEC+ meeting hasn’t yet reach a deal on output increases, as the UAE …

Saudi Arabia and the United Arab Emirates cranked up the tension in their OPEC standoff as the rare diplomatic spat between long-time allies leaves the global economy guessing how much oil it will get next month. The bitter clash has forced OPEC+ to halt talks twice already, with the next …

Oil prices fell on Monday, with Brent dropping after four days of gains, as investors and traders awaited crucial talks by OPEC+ after disagreement within the group that could lead to major producers pumping up volumes to grab market share. Brent crude was down by 40c, or 0.5%, at $75.77 …

The UAE sought to clarify its position on oil supply ahead of a crucial meeting of OPEC+, the producers’ alliance led by Saudi Arabia and Russia. A statement from the Emirates’ Ministry of Energy and Infrastructure said: “UAE believes that the market needs an increase in production and supports an …

The United Arab Emirates could become the first nation among the Organization of the Petroleum Exporting Countries to set a net-zero goal, a move that would please Western countries pushing for stronger climate commitments but won’t require it to sell less oil. The country is considering a 2050 target to …

Saudi Arabia is synonymous with oil, the EU is obsessed with renewable energy, and the U.S. is the world’s leading natural gas producer, but there are few countries pursuing all three of these energy sources with as much vigor as the UAE. While much of the West, encouraged by the …

A UAE climate negotiation team, presided over by the Ministry of Climate Change and Environment, is participating in the virtual meetings of the parties to the United Nations Framework Convention on Climate Change (UNFCCC), launched on May 31 and continues until June 17. The meetings aim to pave the way …

The UAE’s Khalifa Industrial Zone Abu Dhabi or KIZAD has announced plans to build a $1 billion green ammonia facility in the free zone targeting regional and international markets as OPEC’s third-largest oil producer boosts investments in clean energy. Helios Industry, a privately-owned special project vehicle company or SPV, will …

UAE oil storage company BPGIC is in advanced talks to buy a green energy firm as it aims to diversify its business and contribute to the global push to fight climate change, an industry source close to the discussions told Reuters. Brooge Petroleum and Gas Investment Co (BPGIC) is in …

The Ministry of Energy and Infrastructure and the Japanese Ministry of Economy, Trade, and Industry signed a virtual cooperation agreement to explore the opportunities in the field of hydrogen development. The agreement will expand the joint areas of collaboration and enhance investment in the hydrogen sector, supporting the ambition to …