Business - Energy - Emirates 24|7

Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure and Chairman of the Supply and Transport Committee, affirmed that the transport system and supply chains in the UAE continue to operate efficiently and regularly within an integrated framework characterised by resilience and readines

Mubadala Energy, the Abu Dhabi-headquartered international energy company, on Thursday announced the award of the Southwest Andaman exploration Production Sharing Contract (PSC) under Indonesia 's Gross Split scheme. The block was awarded by Direktorat Jenderal Minyak dan Gas Bumi (DG MIGAS) as par

Crude oil prices plunged more than 5% on Wednesday while global equity markets rallied as investors weighed the possibility of a de-escalation in the Iran conflict following signs of diplomatic outreach between Washington and Tehran. Brent crude, the international benchmark, dropped 5.2% to $94.97

Recent data released by Eurostat, the statistical office of the European Union, showed a decline in EU energy imports in 2025 in both value and volume, continuing a downward trend that began in 2022. According to estimates, the value of energy imports reached approximately €336.7 billion, with a to

Executive Director of the International Energy Agency (IEA), Fatih Birol, warned on Tuesday that the global economy is grappling with its worst-ever energy shock due to the U.S.-Israeli war on Iran, resulting in a staggering loss of 10 million barrels of oil per day. Speaking at the Minerals Week c

His Excellency Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, ADNOC Managing Director and Group CEO, Chairman of Masdar and Executive Chairman of XRG, said today weaponizing the Strait of Hormuz is an act of economic terrorism with global impact far beyond energy market

The Executive Director of the International Energy Agency, Fatih Birol, warned  that the world could be facing its worst energy crisis in decades due to the war in the Middle East. Birol described the current situation as a major threat to global economic stability. Speaking at the National Press C

 U.S. President Donald Trump has issued a temporary waiver of the 100-year-old Jones Act, aiming to lower the cost of transporting oil, gas, and other essential commodities across the United States. This 60-day suspension is the administration’s latest strategic intervention to mitigate surging ene

Asian shares rallied on Wednesday as oil prices paused their gains, with markets turning to the U.S. Federal Reserve meeting to assess how policymakers will balance growth and inflation risks amid conflict in the Middle East. Israel intensified its offensive by killing Iran 's security chief, while

U.S. gasoline prices have surged to an average of $3.70 per gallon, marking a 24% increase since the onset of the Iran conflict on Feb. 28, the American Automobile Association (AAA) said on Sunday. The spike, the highest since May 2024, underscores growing supply anxieties fueled by the conflict in

WAM - Abu Dhabi National Energy Company (TAQA) today announced that its shareholders have confirmed the composition of its new Board of Directors following the Company’s Annual General Assembly. Shareholders also approved the Board of Directors’ recommendation for a final cash dividend of 2.20 fils

Emirates 24/7  — The 32 member nations of the International Energy Agency (IEA) are convening an emergency meeting later today, Tuesday, to address deteriorating conditions in global oil markets. The Paris-based agency confirmed that the high-level session will evaluate current market volatility an