Iraq has reaffirmed its commitment to the Opec+ agreement and announced plans to present an updated strategy to compensate for previous overproduction. This follows discussions between Iraq’s oil minister, Hayan Abdel-Ghani, and officials…
Turkey, which has limited domestic oil and gas reserves, is increasingly turning to biofuels as a potential solution to meet its energy needs. While the country’s renewable energy sector relies heavily on hydro,…
UAE-based renewable energy company Amea Power has signed an agreement with the Egyptian Electricity Transmission Company to develop two large-scale battery storage facilities in Egypt. The project, which aims to enhance the country’s…
Brazil, the largest oil producer in South America, has officially joined the Opec+ group, which includes more than 20 countries working together to manage global oil output. The country’s membership, which was first…
Saudi Arabia’s Acwa Power has announced plans to build, own, and operate a 2-gigawatt (GW) wind power generation plant in South Hurghada, Egypt. The project, worth SAR8.6 billion ($2.3 billion), is expected to…
Opec+ is poised to lose market share to non-Opec oil producers, particularly the US, which is not bound by production quotas. The market share of Opec+ members, which stood at 53% when the…
Iraq’s energy sector is under increasing strain, with electricity shortages becoming a critical issue. Despite recent improvements in economic growth and security, the country’s energy infrastructure is struggling to keep up with rapidly…
Adnoc Drilling is set to ramp up its investment efforts in the US and Europe in 2025, with a focus on expanding its oilfield services capabilities. The Abu Dhabi-listed company plans to allocate…
Oman has secured a $100 million loan agreement from the Qatar Development Fund to help finance its connection to the Gulf Cooperation Council (GCC) power grid. The project, estimated to cost over $700…
Edward is a seasoned economic analyst with over a decade of experience in financial journalism. He specializes in macroeconomic trends, global markets, and policy analysis, offering readers deep insights into the forces shaping the world economy. His work has been featured in leading financial publications, and he is known for his ability to break down complex economic concepts into understandable narratives.
Global stock markets saw a strong rally today following the release of optimistic inflation data. The latest reports indicate a slowdown in price increases, fueling investor confidence and raising hopes of a more stable economic outlook. Analysts suggest that central banks may reconsider aggressive interest rate hikes, further boosting market optimism.
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