Environment & Energy | Monday 3 July, 2023 1:51 pm

Ministry of Energy: Saudi Arabia will extend the voluntary cut of one million barrels per day for another month to include August

An official source from the Ministry of Energy announced that the Kingdom of Saudi Arabia will extend the voluntary cut of one million barrels per day, which has gone into implementation in July, for another month to include the month of August that can be extended, and in effect, the Kingdom’s...

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Environment & Energy | Tuesday 27 June, 2023 1:30 am

Global oil market fundamentals sound for rest of 2023: Aramco CEO

Global oil market fundamentals are expected to remain sound for the rest of the year, underpinned by healthy demand in developing countries, especially in China and India, Saudi Aramco CEO and President Amin Nasser said.   On Aramco’s strategy in Asia, Nasser said: “We are...

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Environment & Energy | Tuesday 27 June, 2023 1:02 am

OPEC sees global oil demand rising to 110 mln bpd by 2045

The Organization of the Petroleum Exporting Countries (OPEC) expects global oil demand to rise to 110 million barrels per day (bpd) by 2045 and oil to account for nearly 29% of the energy mix by then.   "The world cannot do without oil in the foreseeable future," OPEC Secretary...

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Environment & Energy | Monday 26 June, 2023 12:07 am

Riyadh, Jeddah advance on Global Liveability Index

Riyadh and Jeddah moved forward on the Global Liveability Index 2023 in an annual report prepared by the Economist Group's Economic Intelligence Unit (EIU), in its ranking of 140 cities.   Riyadh and Jeddah advanced to take the 103rd and 107th positions on the index, respectively,...

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Environment & Energy | Sunday 25 June, 2023 1:00 am

Aramco, Total award contracts for $11 bln Amiral project

Saudi Aramco and TotalEnergies today awarded Engineering, Procurement and Construction (EPC) contracts for the $11 billion "Amiral" complex, a future world-scale petrochemicals facility expansion at the SATORP refinery in the Kingdom of Saudi Arabia. A signing ceremony took place in...

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Environment & Energy | Sunday 25 June, 2023 12:33 am

Oil settles lower, posts over 3.5% weekly loss

Oil prices declined on June 23 amid continued fears of low demand amid signals by central banks that monetary tightening will continue to curb inflation. The dollar index, which measures its value against a basket of major currencies, rose after statements by Federal Reserve...

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Environment & Energy | Thursday 22 June, 2023 9:42 am

Zero Trust is top cloud security priority for the next year, Middle East Cloud Security Research finds

Middle East cloud security professionals have identified Zero Trust as the number one cloud security priority for the next year, according to a recent survey. The 'Future of Cloud Security in the Middle East' report found that 56% of regional cloud security experts would prioritize Zero Trust...

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Environment & Energy | Tuesday 20 June, 2023 11:03 am

Invictus celebrates crossing one million metric tonnes of agro-commodity exports to Egypt so far this year, expanding its global reach

– Invictus Investment Company Plc (ADX: INVICTUS), today announced that it has successfully contracted over one million metric tonnes of agro-commodities to Egypt. Invictus has seen a remarkable increase in its commodity trading business in Africa, with Egypt as one of the key ...

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Environment & Energy | Tuesday 20 June, 2023 10:50 am

UAE Alliance for Climate Action (UACA) announces new members at critical Road to COP28 event in Dubai

The UAE Alliance for Climate Action (UACA), the flagship non-state actor programme for UAE, continues to gain crucial momentum for decarbonization in the lead up to COP28 and beyond. The alliance recently welcomed onboard new members from the private sector and academia: Sodexo, Majid Al Futtaim,...

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Environment & Energy | Sunday 18 June, 2023 9:00 am

Ministry of Industry mulls to establish excellence center

The Ministry of Industry and Mineral Resources is studying to establish an industrial excellence center, to develop national industries and acquire large shares in the local and global markets, Asharq Al-Awsat newspaper reported, citing Ameen Rayes, General Manager of Industrial...

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