On Tuesday, British Prime Minister Boris Johnson set out his ambition for a green revolution that he hopes will force Western economies to kick their addiction to fossil fuels. At the end of the month, Britain hosts the COP26 UN climate talks in Glasgow, Scotland, aiming to strengthen global action on global warming. “With the […]
Oil Minister, Shaikh Mohammed bin Khalifa Al Khalifa, participated on October 20 in the seventh edition of the “Petro Diplomacy” conference, held virtually, under the theme “Gulf Countries in a Net-Zero World,” BNA reports. Held annually by the Arab Gulf States Institute in Washington (AGSIW), the Petro Diplomacy conference is a signature event that brings […]
A new report, titled ‘Hydrogen: From Hype to Reality,’ has called on the importance of developing integrated strategies to produce, store and use hydrogen energy, WAM states. As the world strives to achieve net-zero emissions, it noted that hydrogen would be crucial to decarbonize hard-to-abate industries, such as steel, cement, aviation, and shipping. The report […]
A new report produced by Oxford Business Group (OBG) in partnership with Alkhorayef Petroleum explores the crucial role that digitalization and innovation are poised to play in the global oil industry’s recovery, Times of Oman states. The “Oil & Gas Services: Post-Pandemic Prospects” report, part of OBG’s Covid-19 Response Report (CRR) series, provides data-driven analysis […]
The latest report from credit ratings agency Moody’s found that despite ambitions to diversify Gulf economies away from fossil fuels, the results have been ‘limited’ and efforts will be constrained by lower oil prices, Al Jazeera states. The clock is ticking for Gulf economies to end their overreliance on fossil fuels, as more countries around […]
In Europe, there is a shortage of natural gas and a fivefold increase in gas prices before the onset of winter. In addition, the northern hemisphere has now added oil shortages, Euronews states. Experts warn that in the event of severe frosts, heat bills could increase by 40%. Gas prices rose due to growing industrial […]
The kingdom’s Public Investment Fund has been investing more in businesses that benefit from a transition away from fossil fuels, mirroring Saudi Arabia’s broader strategy to diversify its economy from reliance on crude sales. Saudi Arabia’s $430 billion sovereign wealth fund plans to announce its first green debt issuance as it looks to increase the […]
The number of extremely hot days during the year, when the temperature reaches 50° C, has doubled since the 1980s. A BBC study evidences this. The growth can be 100% explained by the burning of fossil fuels, according to climatologists. If in the period between 1980 and 2009 the average temperature exceeded 50° C for […]
The number one energy source in the United States is still natural gas. But the same companies that own thermal power plants are instead investing in solar power plants and energy storage batteries. This does not mean that fossil fuels will disappear – but they are already losing their dominance, WSJ states. Decades ago, natural […]
Looking back over the past decade, we can conclude that the pace of progress in the fight against climate change has been too slow. Carbon emissions continued to rise, and although they decreased in 2020 due to coronavirus lockdowns, in 2021, carbon emissions will return to their “consistently high levels,” Financial Times reports. According to […]
