The group has maintained stability for global oil markets, Saudi Arabia's oil minister said.
The OPEC+ group has delivered more remarkably than any other group on planet earth and demonstrated a cohesion that has brought stability and sustainability to oil markets, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said on Monday. Prince Abdulaziz was speaking during the ADIPEC 2021 opening ceremony in a panel focused on shedding light […]
The announcement is a first in the industry.
Abu Dhabi National Oil Company (ADNOC) is set to receive up to 100 percent of its grid power from clean energy sources by January next year, Sultan Ahmed Al Jaber, the UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC said during the opening ceremony of ADIPEC on Monday. […]
The energy transition will be powered not only by technology, but through cultural shifts, partnerships, and strategic investments, says Christian Cravedi, ABB SVP and hub manager for Energy Industries, India, Middle East, and Africa Region
The energy transition question is no longer about “if” the oil and gas sector should drive change, but “how” it will do so. As companies consider the energy mix of the future, they need partners to enable their transition. The efficiency question “Through the energy transition, we will have multiple sources of energy that must […]
With record nominations and an overwhelming industry response, we will bring the event back in an expanded form, postponed to March 2022
Following record nominations for the Middle East Energy Awards, the hosting editors have decided to postpone it and organise a gala event in March 2022 to be able to further expand the event. We have received overwhelming response and a record number of nominations have been filed from the key industry players in different categories, […]
Company targets new investments in green hydrogen, sustainable tech solutions, digitalization and nonmetallic materials
Saudi Aramco plans to expand its focus on emerging sectors to drive private sector innovation and investment. During the Future Investment Initiative, it outlined potential projects in green hydrogen, sustainable technology solutions, advanced nonmetallic building materials and digitalization. The company is pursuing investment opportunities in projects that aim to reduce greenhouse gas (GHG) emissions, following […]
GRI engagements underline role of transparency in driving action
With the UN Climate Change Conference – COP26 – getting underway in Glasgow next week, GRI is urging all organizations to be open about their impacts on the planet, as transparency is an essential precursor for reaching global solutions to a global problem. GRI, as provider of the common language for companies to communicate their […]
NOCs must not only understand the latest challenges at hand but also ensure they evolve to endure – something achievable through holistic strategy and technology deployment
With the Middle East demonstrating an unrelenting willingness to combat the climate crisis and make further progress en route to a sustainable future, the immediate future demands anticipation and action in equal measure. While roadmaps have already been established to meet related objectives, the wider energy system is continuously changing in times of disruption and […]
The company's net income rose 158% year-on-year in Q3 2021
Aramco’s net income for Q3 2021 rose 158% year-on-year (yoy) to $30.4 billion and the company declared a dividend of $18.8 billion to be paid in the fourth quarter. The increase in net income was primarily the result of higher crude oil prices and volumes sold and stronger refining and chemicals margins in Q3, which […]
The second day of the 5th Anniversary Future Investment Initiative (FII), which kicked off in Riyadh on Tuesday with world leaders, global CEOs, investors, and policymakers in attendance, saw another day of lively debate and discussions including the impact of climate change, investing in green initiatives, ESG and sustainable food security and their influence on […]
The OPEC Fund for International Development and Asian Infrastructure Investment Bank (AIIB) have signed a US$200 million loan agreement with the National Bank of Egypt (NBE), Egypt’s largest commercial bank, to support the bank’s on-lending to hard and soft infrastructure sub-projects. The financing package includes a US$150 million loan from AIIB and a US$50 million […]
