Energy

Cyprus and Egypt signed an accord on Saturday to pursue links between the electricity transmission networks of the two countries. A memorandum of understanding was signed by the energy ministers of Cyprus and Egypt, setting out a framework of cooperation from planning to implementation. “For Cyprus, this electricity interconnection with …

Saudi Arabia’s energy company, ACWA Power, expects construction work on its green hydrogen plant in NEOM to start in the first half of 2022, according to the company’s CEO. “This is the first project of that scale and quite a lot of work had to be done for the first …

The Saudi Ministry of Energy announced a public tender for a license to establish, own and operate a dry gas network in the Third Industrial City in Dammam in the Eastern Province. The project includes a pipeline network from the connection point with Aramco, which provides dry gas, to all …

US, Israeli and EU officials took a tough line toward Iran on Wednesday (13 October), with US officials saying they would consider all options if Tehran failed to revive the 2015 nuclear deal and Israel saying it reserved the right to act. Iranian President Ebrahim Raisi has so far refused …

The League of Arab Committee of Renewable Energy will hold a virtual meeting on Wednesday to develop a strategy on green hydrogen, according to the Saudi Press Agency. “The meeting will discuss the mechanism of implementing the Arab strategy for sustainable energy, which aims to convert waste into energy and to produce …

Striving to be the most sustainable World Expo in history, Expo 2020 Dubai has collaborated with Dutch company Global Sustainable Enterprise System (GSES) under efforts to measure and report the sustainability performance of key stakeholders across the event.Specifically developed by GSES for Expo 2020, the tailored software platform measures the …

Natural gas prices keep hitting new records in Europe. The drop in supplies sparked a new wave of volatility across the European gas market, where transactions hit a ceiling of more than $1500 per thousand cubic meters. Which countries will suffer the most? By Nikola MikovicIt is a well-known fact …

Lebanon’s power supplies were back to normal on Sunday after a blackout the previous day when the country’s two biggest power stations shut down because of a fuel shortage, the Energy Ministry said. The closure piled further hardship on Lebanese struggling with job losses, soaring prices and hunger wrought by …

Lebanon is witnessing significant demand for the installation of solar power units, amid a severe energy crisis that saw the country plunged into a total blackout on Saturday. Two main power stations went offline because they ran out of fuel, said the state electricity company Electricite du Liban, with people …

The United States on Thursday denounced Hezbollah’s deliveries of Iranian fuel in crisis-hit Lebanon as a public relations stunt and warned that Tehran remained under sanctions. Iran is set to deliver more fuel in the coming days to Lebanon for distribution by Hezbollah, the Shiite movement that has shown its …

Lebanon has no centrally generated electricity after fuel shortages forced its two largest power stations to shut down, a government official told Reuters on Saturday. “The Lebanese power network completely stopped working at noon today, and it is unlikely that it will work until next Monday, or for several days,” …

Jordan says it has discussed ways to expedite Egyptian natural gas shipments via its territory and Syria to Lebanon, which is dealing with a grueling energy-crisis. Prime Minister Bisher Khasawneh arrived in Beirut late Thursday, the first foreign official to visit Lebanon’s new prime minister who took office earlier this …

Iraq’s oil minister said that oil at $75-$80 a barrel was a fair price for producers and consumers, adding that his country was seeking to expand its production and export capacity in the coming years. Oil prices traded above $83 a barrel on Wednesday, their highest since October 2018, amid …

The US is alarmed by Iran’s progress toward obtaining an atomic weapon and hopes to resume talks soon to curb Tehran’s nuclear program, a top official in Washington said on Tuesday. Iran’s nuclear activity was also at the center of talks in Washington between US and Israeli national security teams. Israeli …

Egypt is finalising arrangements to start supplying gas to Lebanon soon under a plan to help ease Lebanon’s power crisis, the two countries’ energy ministers said after meeting on Tuesday. Under an agreement announced last month, Egypt will supply natural gas to Lebanon via a pipeline that passes through Jordan …

Iraq’s oil minister said on Sunday that oil prices reaching $100 a barrel will not be sustainable and that OPEC wants stable markets. Ihsan Abdul Jabbar added in a TV interview with Skynews Arabia that he is working on a programme to raise the country’s oil production capacity to 8 million …

As Arab Gulf states step up action toward reducing greenhouse gas emissions in the lead-up to the COP26 climate summit in Glasgow in November, Saudi Arabia and the UAE have emerged as regional leaders in the shift to renewables and decarbonizing the energy sector. A recent report by the Atlantic …

A senior aide to President Joe Biden raised the issue of oil prices in conversations this week with the leadership of top crude producer Saudi Arabia, according to the White House. Biden’s national security adviser, Jake Sullivan, met in Saudi Arabia with Saudi Crown Prince Mohammed bin Salman on Tuesday …

The United States has reached out to China diplomatically about reducing its purchases of Iranian crude oil, U.S. and European officials said on Tuesday, as Washington seeks to persuade Tehran to resume talks about reviving the 2015 nuclear deal. Purchases of Iranian oil by Chinese companies are believed to have …

sraeli Prime Minister Naftali Bennett said on Monday that Iran had crossed “all red lines” in its nuclear program and vowed that Israel would not allow Tehran to acquire a nuclear weapon. In his first speech before the United Nations General Assembly, Bennett said Iran sought to dominate the Middle …

Economy, Trade and Industry Minister KAJIYAMA Hiroshi says Japan recognizes that Saudi Arabia and other Middle Eastern countries are important partners in creating a hydrogen-based society. “The large-scale and inexpensive hydrogen supply is indispensable,” Kajiyama said at a press conference on Friday. “To achieve our goal, it is important to …

Venezuela has agreed to a key contract to swap its heavy oil for Iranian condensate that it can use to improve the quality of its tar-like crude, with the first cargoes due this week, five people close to the deal said. As the South American country seeks to boost its …

 Lebanon’s state electricity company said on Thursday it risked a total blackout across the country by end-September as its fuel oil reserves dwindle. Lebanon, in the throes of one of the worst economic meltdowns of modern history, has been plagued by worsening fuel shortages for the past few months with …

Saudi Arabia supports international efforts aimed at preventing Iran from acquiring nuclear weapons, ministers said on Tuesday. During its weekly meeting, chaired by King Salman from NEOM, the Saudi Cabinet restated the Kingdom’s position laid out at a recent International Atomic Energy Agency meeting. During the meeting last week, Prince …

Iran wants a resumption of nuclear talks with world powers to lead to the removal of U.S. sanctions, Iranian President Ebrahim Raisi told the annual U.N. General Assembly on Tuesday in a pre-recorded address. “The Islamic Republic considers the useful talks whose ultimate outcome is the lifting of all oppressive …

Lebanon’s parliament began a session on Monday that is scheduled to discuss the new cabinet’s policy program and hold a vote of confidence, after a nearly one-hour delay caused by a power cut. Lebanon is battling a deep depression, with worsening fuel shortages translating into few or any hours of …

Armed men opened fire at a gas station in the Bekaa valley on Sunday and threatened to kill the owner as Lebanon’s fuel wars continued to spiral out of control. The incident in the town of Beit Chama came amid long queues at gas stations, frequent power cuts and a …

In an issued statement today, Speaker Nabih Berri called on the Ministry of Foreign Affairs to take “urgent and immediate action in the direction of the UN Security Council and the international community to verify the possibility of a new Israeli attack on Lebanese sovereignty and rights,” in response to …

A senior official at Iran’s National Petrochemical Company (NPC) says exports of petrochemicals were responsible for a fourth of all non-crude shipments exported from the country in the year to late March. Hassan Abbaszadeh, who leads planning and development operations at the NPC, said on Thursday that the share of …

Lebanese Prime Minister Najib Mikati has said Iranian fuel shipments imported by the Hezbollah movement constitute a breach of Lebanon’s sovereignty, according to comments published by his office. “The violation of Lebanon’s sovereignty makes me sad,” Mikati told CNN in an interview, his office said in a posting on Twitter. He …

Lebanon’s new government raised gasoline prices on Friday, cutting a subsidy that Prime Minister Najib Mikati has said is unaffordable as he advances plans to address a devastating financial crisis. The government also signed a new contract with restructuring consultancy Alvarez & Marsal (A&M) to carry out a forensic audit …

 Syria’s electricity minister said an attack on one of the gas lines at Deir Ali station led to an electricity outage that affected the capital Damascus, its outskirts and other areas, and that repair work is ongoing, the state news agency (SANA) reported on Friday. The Minister also told state …

EnerVenue, the first company to offer metallic hydrogen batteries, announced that it has raised $100 million in Series A funding, led by Schlumberger New Energy and Saudi Aramco Energy Ventures (SAEV)- Aramco Ventures’ capital programme, the company said in a statement. EnerVenue has established a framework for a major distribution and manufacturing …

Despite the threat of possible US sanctions, Hezbollah has arranged up to 80 oil tankers carrying Iranian diesel fuel to arrive in Lebanon via Syria on Thursday. The tankers are destined for Baalbek, about 67 kilometers northeast of Beirut, where the fuel will be discharged into tankers owned by the …

Algerian President Abdelmadjid Tebboune and Saudi Foreign Minister Prince Faisal bin Farhan Al Saud on Tuesday discussed coordination within OPEC as well as bilateral, regional and international issues, Algeria’s presidency and the Saudi minister said. Saudi Arabia “is keen to continue coordination and consultation regarding regional and international issues…most notably …

Sayyed Hassan Nasrallah, leader of Lebanon’s armed Shi’ite movement Hezbollah, said on Monday that a first ship carrying Iranian fuel oil to help Lebanon through its financial crisis had docked in Syria on Sunday. Nasrallah had announced last month that he had organised purchases of fuel from Iran, Hezbollah’s main …

ACWA Power, the energy producer backed by Saudi Arabia’s sovereign wealth fund, sees big opportunities in the hydrogen market but the company isn’t planning to add another hydrogen project to its portfolio for some time until its venture with NEOM and Air Products is at an advanced level, its CEO …

It will take no longer than four weeks to develop a clear roadmap to restart exports of natural gas from Egypt to Lebanon, Jordanian Minister of Energy and Mineral Resources Hala Zawati said following a meeting with his counterparts from Syria, Egypt and Lebanon. The readiness of the physical infrastructure …

Saudi Arabia, the UAE, Bahrain and Egypt called for a “rapid and comprehensive inspection” of all Iranian nuclear sites on Thursday. Gathering on the sidelines of an Arab League session in Cairo, ministers from the four countries also discussed stopping Tehran’s destabilizing policies that threaten global security and stability. The …

Egypt’s Minister of Petroleum Tarek El Molla voiced hope that the country can soon export gas to Jordan to help supply Lebanon with electricity, saying Egypt will allocate all capabilities to help end the Lebanese energy crisis and work to quickly send natural gas to Lebanon. Molla’s remarks were made …

Lebanese caretaker energy minister said on Wednesday his country was working with the World Bank to secure financing for a scheme to import Egyptian gas to Jordan that will generate power to supply Lebanon. “We are working with the World Bank to cover the correct financial cover,” Raymond Ghajar told …

Jordan will host a meeting of Egypt, Syria and Lebanon’s energy ministers on Wednesday to discuss transportation of Egyptian gas to Lebanon for electricity generation, said state-owned broadcaster Mamlaka. The United States has been in talks with Egypt and Jordan over a plan to ease Lebanon’s power crisis which involves …

Iranian President Ebrahim Raisi said on Saturday Iran was ready to hold talks with world powers to revive its 2015 nuclear accord but not under Western “pressure”, adding Tehran was seeking negotiations leading to a lifting of U.S. sanctions. France and Germany have urged Iran to return to negotiations after …

Saudi Arabia plans to launch a trading platform for carbon offsets and credits produced in the Middle East and North Africa, the country’s sovereign wealth fund and domestic stock exchange announced Sept. 3. The Riyadh Voluntary Exchange Platform is aimed at helping the oil-rich country support its Paris Agreement climate …