Energy

WGES supports UAE’s preparations for hosting COP28

Summit reflects UAE's unlimited support for energy, climate change issues

Oil prices fall as Saudi Aramco prepares to maximize output

Production at several US offshore platforms in the Gulf of Mexico has resumed

Saudi C’s Q2 profits beat expectations

Announced a dividend of $18.8 billion

Egypt rationing gas use to sell more of it overseas

Shops and malls will have to limit their use of strong lights

Dark clouds ahead of Egypt’s COP27

Poorer countries scream foul, and China out of climate negotiations

ADNOC aims production growth with $1.17 bn contract

Contract awarded by ADNOC Offshore to ADNOC Logistics & Services

OPEC lowers its forecast for oil demand growth in 2022

This is due to war, inflation, and plans to contain Corona

IHC acquires 50% of Turkish ‘Kalyon Enerji’ in $490 mn transaction

Deal in line with IHC’s long-term investment strategy in the clean energy sector

DEWA’s second-quarter net profit rises 40%

UAE’s growing energy demand boosted DEWA profits

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