US inflation held at 3.4 per cent in August, while monthly consumer prices accelerated sharply to 0.4 per cent from 0.1 per cent in July. Rising petrol prices, up 3.9 per cent, drove about one-third of the overall monthly increase.
XRG, ADNOC and Securing Energy for Europe (SEFE) have signed a Memorandum of Understanding to explore cooperation across the natural gas and LNG value chains, supporting reliable and competitively priced energy supplies for Germany and Europe.
The UAE and Germany have strengthened their strategic economic partnership with a series of agreements spanning energy, industry, renewable power and advanced technology, with the deals potentially enabling more than €5 billion ($5.8 billion) in investment.
Abu Dhabi Future Energy Company– Masdar has signed two strategic agreements with European energy partners, strengthening its investment presence in Germany and supporting Europe’s energy transition, energy security and growing electricity needs.
The UAE and Mongolia have signed an MoU to expand cooperation in renewable energy and green hydrogen, including expertise sharing, skills development and potential projects. A joint working group will identify priorities, assess opportunities and support clean energy infrastructure development.
Global oil markets face a fresh supply shock after Saudi Arabia shut down its 1,200-km East-West Pipeline following multiple drone attacks, as continuing attacks on shipping in the Strait of Hormuz and a widening Houthi offensive in the Red Sea threaten to disrupt vital energy routes on both sides of the Arabian Peninsula.
The International Energy Agency (IEA) cut its supply and demand projections for the remainder of the year, expecting world oil supply to average 100.7 mb/d in 2026, down 5.7 mb/d y-o-y in its last report, with a full recovery in supplies from Middle East producers deferred until 2027.
Abu Dhabi-based Fertiglobe has joined hands with leading German groups Covestro, one of the world’s top manufacturers of polymer materials, and MB Energy, a leading supplier of high-tech polymer materials, to explore joint collaboration across the ammonia value chain in Europe.
Oil prices surged to their highest levels since May on Friday as the widening US-Iran conflict and a rapid Houthi advance in Yemen raised fears of a prolonged disruption to global crude supplies through the two strategic waterways of Hormuz and Bab al-Mandeb.
Clariant has been awarded a contract by Zhejiang Petroleum & Chemical (ZPC) to supply its CATOFIN catalyst and Heat Generating Material (HGM) for a new propane dehydrogenation (PDH) unit in Zhejiang Province, China.
