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Gallery: Middle East Energy Awards 2022 winners

by Matthew Amlot

Celebrating excellence in performance, the 2022 Middle East Energy Awards recognised eight organisations and two individuals for outstanding achievements in 10 categories

Awards are a way to encourage the competitive spirit and celebrate excellence. Keeping this in mind, key stakeholders from the region’s energy industry converged in Dubai for the Middle East Awards 2022 on Wednesday, February 23, at Grosvenor House Hotel, Dubai. The awards ceremony took place in the presence of a distinguished gathering of upstream, […]

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Regulators, policy makers need to lead dialogue with energy industry for transition, Aramco CEO says

by Matthew Amlot

The energy industry needs to be part of the discussion and the solution, Amin Nasser says

The energy transition needs policy makers and regulators to come together with the energy industry in order for it to be successful, the CEO of Saudi Aramco said. “We need to have a better dialogue where we are part of the discussion and the solution. We’ve seen what happened in Glasgow… we were kept away […]

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Saudi Aramco to remain ‘world’s preeminent producer’ of oil, gas amid net zero goal: Yasir Al-Rumayyan

by Matthew Amlot

The chairman went on to say that “energy transitions take time"

Saudi Arabian energy giant Aramco plans on remaining the world’s most important producer of oil and gas even while it intends to achieve net zero Scope 1 and 2 greenhouse gas emissions across all of the assets it owns and operates, the chairman of the company’s board of directors Yasir Al-Rumayyan said in a statement. […]

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Middle East Energy Awards 2022: Book your tables today; seats are filling up!

by Matthew Amlot

Book your table now and find out who takes top honours at this year's Middle East Energy Awards

Have you confirmed your tables for the Middle East Energy Awards 2022 set to take place on 23 February? Only two weeks away, ticket sales for the prestigious event are selling quickly. Tickets are priced at AED 1800 per seat and AED 13,500 per table till 18 February, with prices increasing after that. Click here […]

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Oil prices tumble amid Iran nuclear deal prospects

by Angitha Pradeep

Oil prices rollercoaster as JCPOA deal days away, Russia-Ukraine situation in standstill

Oil prices slipped by more than 2% early Thursday (17 February) morning due to comments regarding the JCPOA deal.   West Texas Intermediate (WTI) fell more than 2% after closing above $93 a barrel on Wednesday, while Brent crude was trading down 2.6%. Iran’s top negotiator Ali Bagheri Kani tweeted that efforts to restore the […]

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McDermott wins monumental EPCIC contract for Germany offshore project

by Angitha Pradeep

This is McDermott’s biggest contract win for a renewable energy project yet, although the project value remains undisclosed

Houston-based engineering and construction giant McDermott has won its largest-ever renewable energy contract from TenneT to provide engineering, procurement, construction, installation and commissioning (EPCIC) services. The win is for the BorWin6 980MW High-Voltage, Direct Current (HVDC) project located 190km offshore Germany, on the Platform North Sea Cluster 7, at a depth of 40m, according to […]

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PIF receives shares worth about $80 billion from Saudi Aramco

by Angitha Pradeep

The transfer of shares also support the PIF’s plan to grow its assets under management to $1.07 trillion by the end of 2025

Saudi Arabia has transferred 4% of Saudi Aramco shares to its sovereign wealth fund – Public Investment Fund (PIF) – according to a statement. In line with Aramco’s market capitalisation, a 4% stake would mean shares worth about $80 billion. Prince Mohammed bin Salman, Saudi Arabia’s Crown Prince, Deputy Prime Minister, Chairman of the Council […]

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Middle East Energy Awards 2022: Early bird offer closes on 11 February, book your tables now

by Matthew Amlot

Grab your tables now and save upto 20% before the early bird offer expires at midnight on Friday, 11 February

The Middle East Energy Awards are all set to celebrate energy projects, initiatives, individuals, and companies shaping the future of energy in the Middle East. With less than three weeks left for the Middle East Energy Awards 2022, we’re excited to announce that the early bird offer for table reservations are now open and valid […]

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JET reactor smashes nuclear fusion record; propels energy industry ahead

by Angitha Pradeep

Oxfordshire facility was able to achieve record-breaking energy from sustained fusion for over five seconds

The Joint European Torus (JET) facility reported a record-breaking production of energy from a sustained nuclear fusion experiment in a win for the future energy technology. The UK-based facility was able to successfully produce 59 megajoules of heat for over five seconds, breaking its previous record of 21.7 megajoules set in 1997. These results are […]

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BP reports blockbuster $12.8bn profit in 2021 as oil market recovers from Covid-19 slump

by Angitha Pradeep

BP aims to generate earnings of $9-10bn by 2030 driven by businesses from bioenergy, convenience, electrification, renewables and hydrogen.

British multinational company BP has announced its annual financial results, reporting underlying replacement cost profit, a proxy for net profit, of $12.8bn for 2021, its highest in eight years, compared to a loss of $5.69bn during 2020. The firm’s underlying profit for Q4 2021 was $4.1bn, up 24 percent quarter-on-quarter, compared with $3.3bn in Q3 […]

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