Latest news

Dubai, Shanghai Electric and ACWA Power cut a solar power deal worth $3.9 billion

Shanghai Electric and Saudi Arabia’s ACWA Power will construct and manage a 700-megawatt solar power plant under a $3.9 billion contract awarded by Dubai’s state energy utility.

read more... 18/09/2017


Saudi Arabia seeks bids for the construction of 400MW wind farm

The Renewable Energy Project Development Office (REPDO) of Saudi Arabia has released a request for proposals (RFPs) for the construction of a 400MW wind farm at Dumat Al Jandal in the AL Jouf locality of the kingdom.

read more... 29/08/2017


China and Pakistan sign framework agreement on uranium exploration

China and Pakistan are to cooperate on a framework agreement regarding the uranium exploration and development. A similar agreement was signed between China and Saudi Arabia last year.

read more... 01/08/2017


Daily (31.07.2017): Oil prices jumped by 2% on Friday

Oil prices edged higher on Friday. U.S. crude and gasoline inventories fell higher-than-expected and the world's biggest oil exporter Saudi Arabia declared it would further reduce oil production in August. Brent crude jumped by 2% to $52.52 a barrel, while WTI price rose by 1.37% to close at $49.71 a barrel.

read more... 31/07/2017


Daily (28.07.2017): Brent prices soared to 2-month high on Thursday - $51.49 a barrel

Oil prices continued to rise on Thursday with support from a huge slide in U.S. crude inventories. Kuwait, UAE and Saudi Arabia, fellow members of the OPEC, have also promised export cuts. U.S. fuel exports are on track to hit another record in 2017, making foreign fuel markets increasingly important for the profit margins of U.S. refiners. Also, Europe's major energy firms are turning a corner after a 3-year slump, Royal Dutch Shell, France's Total and Norway's Statoil reported sharp rises in cash flow from second quarter operations. Brent crude jumped by 1% to $51.49 a barrel, while WTI price jumped by 0.8% to close at $48.75 a barrel.

read more... 28/07/2017