Energy

UAE’s TAQA generates $7 bn in profits thanks to oil, gas revenues

Earnings before interest, tax depreciation amounted to $3.1 bn

Learn the difference between Brent and WTI

Goldman Sachs revised its oil price forecast to $110 a barrel

Saudi’s SABIC posts over $2 bn in profits in Q2

Driven by higher average selling prices

Digital technology reducing impact of built environment

By lowering greenhouse gas emissions by 40%

Oil prices fall amid recession fears, slow recovery in China’s imports

Brent crude futures fell 74 cents, or 0.8%, to $94.18 per barrel

Saudi National Water Company to launch SAR 108 bn projects

The company intends to roll out 1,429 projects

Oil revenues send Saudi’s budget surplus to $21 bn

The highest quarterly surplus since data publication began in early 2016

Africa keen that COP27 turns promises, commitments to actions

Summit will be crucial to Africa’s response to climate change

Middle East ESG investments are going mainstream

41% of regional investors wanted to implement effective ESG policy

Saudi Aramco buys US-based Valvoline for $2.65 bn

Acquisition fits in with growth strategy for lubricants, says Aramco

Attention turns to “OPEC+” meeting, as hopes of increasing production lessen

OPEC Sec Gen: Russia's presence in alliance key to agreement success

Macron, Saudi crown prince agree to diversify energy supplies

Crown Prince Mohammed: Desire to strengthen strategic partnership

Torrential rains batter several regions in the UAE

Authorities urged residents not to leave their homes unless necessary

Saudi Crown Prince in Greece, signs submarine cable agreement

Connecting electricity grids provides cheaper green energy

ADNOC Drilling lands $2 bn contracts for Ghasha project

Project is key component of ADNOC's strategy for gas self-sufficiency

No solution except by investing to balance the oil market

Energy Forum: to return to the level of $525 billion by 2030