by Vasu Jit Kalia | September 11, 2024 | Energy, Industry
Oil stabilized after rapidly escalating concerns about global demand triggered a sharp and significant sell-off, pushing Brent crude below $70 a barrel for the first time in over two years. The benchmark has dropped nearly 20% this quarter due to worries that slowing...
by Jibran Munaf | September 7, 2024 | Automotive, Energy
Renault CEO Luca de Meo has issued a stark warning that Europe’s automotive industry could face fines totaling up to 15 billion euros ($17.4 billion) if electric vehicle (EV) sales continue to lag behind regulatory targets. Speaking on France Inter radio, de Meo...
by Vasu Jit Kalia | September 6, 2024 | Energy
With the global economy going through turmoil, which has resulted in a nine-month low in crude prices, OPEC+ has agreed to postpone the planned oil production increases for October and November, the group announced on Thursday. They also indicated the possibility of...
by Vasu Jit Kalia | September 4, 2024 | Energy
Italy’s world leader in engineering and drilling activities, Saipem, has secured two offshore contracts in Saudi Arabia, totalling around $1 billion, under its ongoing long-term partnership with Saudi Aramco. Under the first contract, Saipem is responsible for the...
by Jibran Munaf | September 2, 2024 | Energy
The Egyptian Ministry of Electricity and Renewable Energy has approved a proposal from Abu Dhabi Future Energy Company, known as Masdar, for a significant solar power investment worth over $900 million. This development will see the construction of solar power plants...
by Jibran Munaf | August 31, 2024 | Corporate Finance, Energy
The Initial Public Offering (IPO) for NMDC Energy, a subsidiary of the NMDC Group, saw overwhelming demand, becoming oversubscribed within just a few hours of the first day of its subscription period, according to an announcement by NMDC Group on Monday. Strong...
