Energy

DEWA’s R&D Centre develops digital first approach for condition assessment of critical assets

This approach eliminates the need for on-site sensors or hardware. It only requires asset data and their locations

Oil prices flat, headed for bleak weekly performance amid demand concerns

Brent oil futures expiring in October edged up 0.1 percent to $77.26 per barrel

Oil prices weaken on U.S. labor data, demand outlook uncertain

Brent oil futures fell 0.1 percent to $75.95 a barrel

Qatar’s economy to double by 2031 fueled by LNG boom, diversification: Report

Qatar's gas production will stay steady for 140 years before a major boom

Oil prices slide on rising U.S. inventories, easing Middle East tensions

Brent crude futures declined by 0.1 percent, settling at $77.11 per barrel

Oil prices retreat as geopolitical concerns ease, demand concerns rise

Brent crude futures dropped 0.7 percent, or 53 cents, to $77.13 per barrel

Abu Dhabi’s Masdar, Infinity Power to build 200-megawatt wind farm in Egypt

The MoU secures a long-term supply of renewable energy from a large onshore wind project in Ras Ghareb, Egypt

‘Virtual’ oil barrels dwarf trade in physical oil

Quantitative and algorithmic trading account for 70 percent of daily oil futures trading

Oil prices sink as China’s economic slowdown fuels demand concerns

Brent crude futures declined by 13 cents, or 0.2 percent, to $79.55 per barrel

Oil prices edge lower but set for weekly gains on U.S. optimism

Brent crude futures, expiring in October, fell 0.1 percent to $80.94 a barrel

What does Egypt’s new carbon market mean for the future of climate finance?

The move is a step towards a mandatory market, requiring carbon reduction projects and emissions calculations

Oil prices climb on rate cut hopes, but China concerns remain

Brent crude futures rose 0.21 percent to $79.93 a barrel

IEA trims 2025 oil demand forecast, cites weakened Chinese economy

The report expects robust demand in Western economies, especially the US, which consumes one-third of global gasoline

Abu Dhabi’s TAQA reports 12.3 percent rise in net income to $1.2 billion in H1 2024

TAQA's revenues rose 2 percent annually to AED27.2 billion mainly due to the contribution from SWS Holding

Oil prices rise as U.S. stockpiles shrink, Fed rate cut bets grow

Brent crude oil futures for the October delivery rose 0.5 percent to $81.09 per barrel

DEWA commissions 558 electricity distribution substations of 11 kV across Dubai in H1 2024

There are currently 72 33 kV substations in service and 44,472 medium voltage substations across Dubai

UAE’s ADNOC Drilling to join MSCI flagship indexes, boosting global visibility and investor appeal

The company will become the 12th member of the MSCI UAE index after meeting the necessary criteria

UAE’s diversified economy maintains robust growth in real estate, tourism, and manufacturing: OPEC

OPEC reported that the housing, utilities, and fuels sector rose to 6.7 percent YoY in June, up from 6.6 percent in May

Oil prices decline as OPEC lowers 2024 demand forecast amid China slowdown

Global benchmark Brent crude futures dipped 78 cents, or 0.95 percent, to $81.52 a barrel

OPEC cuts 2024 oil demand growth forecast to 2.11 million bpd on weaker Chinese demand

OPEC also cut next year's demand growth estimate to 1.78 million bpd from the previous 1.85 million bpd

ADNOC Gas net income rises 21 percent to $1.19 billion in Q2 2024

ADNOC Gas fulfils over 60 percent of the UAE’s gas demand and is a major player in fueling the development of key industrial sectors

UAE’s ADNOC Drilling aims for $1.3 billion net profits and 148 rigs by 2026, says CFO

The company has raised its medium-term revenue expectations to $3.85 billion for the fiscal year 2024

UAE’s DEWA reports $3.72 billion in H1 2024 revenue, shareholders to get $1.68 billion in dividends annually for 5 years

EBITDA reached AED6.6 billion, operating profit of AED3.3 billion and profit after tax of AED2.6 billion