Saudi Aramco CEO warns of 'painful awakening' as energy costs rise Amin Nasser said that green energy would not replace oil as demand for crude continues to grow, especially from the Global South. Saudi Arabia
Exclusive Saudi finance minister hints kingdom could meet 2030 renewables target early On Monday, the kingdom commissioned its largest battery energy storage system to its grid, with a capacity of 500 megawatts and the ability to store 2,000 megawatt hours of electricity. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Exclusive Global renewables surge forward despite Trump’s climate reversals, says IRENA chief Although Gulf countries are still heavily reliant on oil and gas, they are quickly moving toward a greener system, International Renewable Energy Agency head Francesco La Camera told Al-Monitor. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Gulf wealth funds propel Middle East deals in 2024 The Gulf region continued its trajectory toward becoming a global investment powerhouse as sovereign wealth funds fed capital into AI, clean energy, entertainment, sports, start-ups and tourism. Saudi Arabia
Analysis Despite green energy deal blitz, Middle Eastern climate efforts fell flat in 2024 By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Even with MBS absent, Saudi Arabia and UAE poised to make deals at G20 Gulf states will look for agreements and trade deals with partners from South America and elsewhere ahead of US President-elect Donald Trump's inauguration in January. United States
UAE's ADNOC doubles down on gas, allocating $15B over next 5 years In a Monday statement ADNOC Gas said it had raised its capital expenditure plan to around $15 billion for the next five years, from about $13 billion. United Arab Emirates
Middle East businesses lack clear climate guidelines, WEF report warns Middle Eastern and North African companies face increasing pressure from investors, regulators and global markets to strengthen transparency and adopt more sustainable business models. Morocco
Saudi Aramco in 'advanced' talks on hydrogen offtake as Q3 income drops 15.3% Aramco's Q3 net income fell 15.3% to $27.6 billion on low oil prices. Aramco is looking to expand into new business areas such as renewables and hydrogen. Saudi Arabia
France, Morocco ink over $10B in deals during Macron visit King Mohammed VI welcomed Macron to Morocco as part of a three-day visit by the French president in which around 20 deals were agreed upon. Morocco
Saudi Arabia's NEOM attracts $16B in private financing over 2 years Saudi Arabia's flagship sustainability project has attracted substantial private investments and is looking for more. Saudi Arabia
Analysis Even with Greece venture, Egypt's energy hub ambitions remain far off Egypt's key gas field has seen a slump in output while Cairo continues to import more gas from other countries such as Cyprus and Israel. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Masdar acquisition of Terra-Gen stake builds on UAE-US renewable energy ties The UAE and the US launched a renewable energy partnership in 2022 with the view of deploying 100 GW of clean energy globally by 2035. United Arab Emirates
UAE's ADNOC seals $16B deal to buy German chemical firm Covestro The deal is set to be the largest takeover ever by a Middle Eastern company of a European firm. United Arab Emirates
What's behind the UAE's visa amnesty scheme? As part of the United Arab Emirates' large-scale amnesty scheme, migrants in the country illegally who have secured jobs can apply for fresh visas, while others will be allowed to leave without facing penalties. United Arab Emirates
Why UAE's ADNOC is investing in Exxon's Texas hydrogen plant Abu Dhabi's state-run oil company is taking a stake in ExxonMobil's major new low-carbon hydrogen and ammonia plant, its second foray into the Texas energy industry. United Arab Emirates
Kuwait explores renewable energy with Austrian company Kuwait's agreement with Burgenland Energie reinforces country's willingness to explore foreign partnerships to develop its nascent clean energy sector. Kuwait
