Environment & Energy | Monday 14 January, 2019 2:12 am

Oil price forecast at $70 for 2019

Bank of America Merrill Lynch has retained its forecast that oil will average at $70 this year, after prices rebounded from a two-year low in December. Despite recent market volatility and economic jitters, the bank sees oil demand growth remaining roughly unchanged at 1.2 million barrels a day...

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Environment & Energy | Sunday 13 January, 2019 6:47 pm

Natural Gas Can Play an Important Role in the Energy Transition to a Lower Carbon Economy

Policy makers worldwide have a proven solution for cutting carbon emissions by switching electricity generation from coal and oil to natural gas, Majid Jafar, CEO of Crescent Petroleum, told an audience of energy ministers and industry leaders meeting in Abu Dhabi this morning. As global demand...

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Environment & Energy | Sunday 13 January, 2019 3:12 am

Saudi energy minister visits Pakistan’s Gwadar oil refinery site

Saudi Arabia’s Minister of Energy Khalid A Al-Falih on Saturday visited the port city of Gwadar to witness development work and the area allocated for a multibillion oil refinery. Pakistan and Saudi Arabia are in talks over an agreement to install the Saudi Aramco Oil Refinery in...

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Environment & Energy | Saturday 12 January, 2019 1:40 am

Saudi Arabia stresses building sustainable renewable energy sector

The Kingdom reiterated that it is working, in the framework of Vision 2030 and the National Transition Program 2020, to build a sustainable renewable energy sector, which includes industries, services, technologies localization and human resources training, Saudi Press Agency (SPA) said. This...

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Environment & Energy | Thursday 10 January, 2019 1:20 pm

EmiratesGBC’s BEA project report presents compelling insights on energy & water use efficiency by Dubai’s schools, hotels and malls

While several schools, malls and hotels in Dubai are way ahead in achieving high levels of energy and water use efficiency, others need to pace up their sustainability commitment to ensure they are aligned with the sustainable development vision of the nation.   This was revealed in the...

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Environment & Energy | Thursday 10 January, 2019 2:13 am

Saudi Arabia reveals rise in oil reserves and commits to Aramco listing

Saudi Arabia has revealed a rise in crude oil reserves following an independent audit, lifting the lid on deposits that have been the subject of intense speculation since the Kingdom revealed plans to sell shares in its national oil company.   The Kingdom’s proven oil and gas...

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Environment & Energy | Wednesday 9 January, 2019 6:16 am

Saudi Arabia delegation head to global renewable energy meeting

The Cabinet, chaired by King Salman, on Tuesday approved the Kingdom’s participation in the 9th session of the General Assembly of the International Renewable Energy Agency (IRENA) to be held on Jan. 10-13 in Abu Dhabi. King Abdullah City for Atomic and Renewable Energy (KACARE) and the...

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Environment & Energy | Saturday 5 January, 2019 1:48 pm

Oil ends week on a high thanks to Saudi output cuts, US jobs lift

Brent crude had its best week in two years, helped by Saudi production cuts and positive US jobs data. The global benchmark gained almost 10 percent this week after three consecutive weeks of declines. Despite the rally, markets remain jittery and focused on the outcomes of talks between the US...

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Environment & Energy | Tuesday 1 January, 2019 5:34 am

Saudi Aramco becomes full owner of LANXESS specialty chemicals firm

SAUDI Aramco, a world-leading integrated energy and chemicals company; and LANXESS AG, a leading German specialty chemicals company, announced Monday the completion of Saudi Aramco’s acquisition of LANXESS’s interest in Arlanxeo Holding B.V., a Netherlands-based specialty chemicals...

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Environment & Energy | Tuesday 1 January, 2019 2:00 am

RAK-based Pioneer Cement to Go Green, to Use Fuel from Waste for Production

Ras Al-Khaimah-based Pioneer Cement Industries, today said it has signed a landmark agreement with Emirates RDF that will lead to the use of fuel derived from household waste in its production plant.   In a statement, the company, which is a subsidiary of Oman’s largest cement...

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