Energy

Saudi economy grows 64 percent to $1.09 trillion in nominal GDP from 2016 to 2023, says Finance Minister

Al-Jadaan projected a 4.6 percent growth rate for non-oil GDP in Saudi Arabia in 2025 

Oil prices remain steady amid mixed U.S. inventory data, easing Middle East tensions

January Brent oil futures dipped 0.1 percent to $72.78 a barrel

UAE President approves launch of new company XRG to boost ADNOC growth

The ADNOC board endorsed the company’s target to drive AED200 billion into the UAE economy over the next five years

ENEC, ADNOC to explore use of advanced nuclear technologies, excess heat utilization for oil, gas operations

This agreement entails a thorough technical and economic evaluation to pinpoint the most suitable nuclear reactor technologies for ADNOC

Oil prices plunge amid ceasefire hopes, dollar surge

Brent oil futures set to expire in January dropped by 0.3 percent to $72.80 per barrel

Oil prices rise amid escalating Russia-Ukraine tensions, yet U.S. inventory build limits overall gains

Brent oil futures for January delivery increased by 0.4 percent, reaching $73.07 a barrel

Sheikh Hamdan bin Zayed attends groundbreaking ceremony of Ruwais LNG Project in Al Dhafra Region

ADNOC is investing approximately AED175 billion in the Ruwais LNG, Hail and Ghasha, Borouge 4 and TA’ZIZ mega-projects

Crown Prince of Abu Dhabi reviews Mubadala’s progress, stresses UAE investment importance in Brazil

Mubadala’s investments in Brazil have greatly contributed to the country’s socioeconomic development over the past 12 years

Oil prices steady as traders assess Russia-Ukraine conflict, U.S. inventory gains

Brent oil futures for January delivery held steady at $73.31 a barrel

Abu Dhabi’s TAQA, JERA and Al Bawani to develop two new highly efficient power plants in Saudi Arabia

These agreements will enable two new CCGT projects in Saudi Arabia with over 3.6 gigawatts capacity 

Saudi Arabia’s crude oil exports hit three-month high in September

Saudi Arabia's oil production fell to 8.975 million bpd from 8.992 million bpd in August

Oil prices rise slightly as Norway’s Johan Sverdrup oilfield halts production amid escalating conflict in Ukraine

Brent crude futures for January delivery increased by 15 cents, or 0.2 percent, reaching $73.45 a barrel

Oil prices surge amid intensifying Ukraine-Russia conflict, persistent demand concerns in China

As of 05:02 GMT, Brent crude futures rose by 29 cents, or 0.4 percent, reaching $71.33 a barrel

Oil prices set for weekly loss on slow Chinese demand, higher supply prospects

The International Energy Agency expects global oil supply to exceed demand in 2025 even if OPEC+ output cuts remain in place

COP29: Egypt reiterates 42 percent renewable energy target for 2030, calls for international support

As of July 2024, solar, wind, and hydropower make up 11.5 percent of Egypt's electricity generation 

Abu Dhabi’s TAQA reports $1.7 billion net income during first nine months of 2024

The Group posted revenues of $11.3 billion, reflecting a 6 percent increase from the same period in 2023

ADNOC L&S Q3 net profit up 18 percent YoY to $175 million

The company reported revenues of $2.66 billion, representing a 38 percent increase compared to the same period in 2023

Oil prices drop as U.S. inventory data misses expectations, markets look for clarity on Chinese demand

Brent oil futures for January delivery decreased by 0.1 percent, settling at $72.23 per barrel

COP29: Masdar, Albania Power Corporation to explore gigawatt-scale renewable projects in Albania

The partnership leverages KESH's leading position and Masdar's expertise to accelerate Albania's clean energy transition

Oil prices rise modestly but stay near two-week lows after OPEC’s demand growth downgrade

Brent futures had climbed by 17 cents, or 0.24 percent, reaching $72.06 a barrel

Oil prices steady as China’s stimulus disappoints, U.S. supply fears ease

Brent oil futures for January increased by 0.2 percent, reaching $71.95 a barrel

OPEC and IEA diverge widely on oil demand projections through 2050

OPEC has lowered its 2024 oil demand growth forecast to below 2 million bpd, while the IEA projects even lower demand growth at under 1 million bpd