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  • Iraq girds to revive long-abandoned nuclear energy program

    The Iraqi government has declared its intention to revive the country’s long-abandoned nuclear energy program. The announcement by Prime Minister Muhammad Shia’ Al-Sudani comes amid a broader regional push to develop nuclear capabilities, following in the footsteps of Egypt, Iran, Saudi Arabia, Turkey, and the United Arab Emirates (UAE). While Iraq is a long way from completing such an endeavor, Sudani’s announcement is a diplomatic win for the prime minister—underscoring his engagement with international organizations. 

  • Europe’s pro-nuclear leaders seek atomic energy revival

    Leaders from pro-nuclear European countries and energy experts called for a nuclear energy revival on Thursday at a summit in Brussels, seeking to rebuild the European industry after years of gradual decline. The political push to expand nuclear - a low-carbon energy source - is part of the drive to meet Europe's ambitious climate targets. But it faces headwinds including a lack of investment and cost overruns and delays that have plagued recent projects.

  • Saudi Aramco CEO says energy transition is failing, world should abandon ‘fantasy’ of phasing out oil

    Gas has grown 70% since the start of the century, Nasser said. The transition from coal to gas is responsible for two-thirds of the reductions in carbon emissions in the U.S., he said. “This is hardly the future picture some have been painting,” Nasser said. “Even they are starting to acknowledge the importance of oil and gas security.”

  • Saudi-based investment group Energy Capital Group acquires Aujan Industrial Solutions

    Saudi Arabia-based investment group Energy Capital Group (ECG) has completed the acquisition of Aujan Industrial Solutions (AIS), a leading provider of solutions to the oil and gas, petrochemical, metals and mining and water markets with 30 years of experience and expertise. AIS' lines of business include value added distribution, fire and gas solutions, measurement intelligence and technology solutions. This marks the fourth investment of the fund which announced a first close in Q3 2023. The fund plans a further 4-5 investments within 2024. Energy Capital Group is investing in businesses that can capitalise on the significant investment going into regionally relevant value chains and driving the need for technology-based services and turnkey solutions across the industrial supply chain.

  • Energy Minister Launches First Saudi School of Public Policy

    The KSPP will focus on public policies in the fields of energy, climate, and sustainability. Aiming to set new standards in policy studies, the school offers a two-year master’s degree and executive education programs designed to enable and empower future policy leaders and professionals within Saudi Arabia and globally to address the most pressing domestic and international public policy challenges in the public, non-profit and private sectors.

  • Saudi Arabia Aims for 150k New Jobs in Chemical Plants and Renewable Energy, says Minister

    Saudi Arabia is poised to create 150,000 new jobs in chemical plants and renewable energy facilities with a commitment to achieving 75 percent localization, said a top official. During the Human Capability Initiative in Riyadh, Saudi Minister of Energy Prince Abdulaziz bin Salman emphasized that the energy sector has the biggest chance to achieve the target of Saudi workers compared to any other sector. The minister said: “We see somewhere around 150,000 jobs being created, including not only working in chemical plants and with heavy wind or renewable facilities but also we see a lot of jobs are coming through the localization programs. We also are committed to a localization program which is 75 percent.”

  • The UAE and Saudi Arabia Lead the Way on Central Asian Energy Pivot

    Masdar, the United Arab Emirates’ renewables developer, and its Saudi peer, ACWA Power, are leading the two OPEC members’ clean energy projects in energy-rich Central Asia, a new frontier for petrostates looking to advance their net-zero agendas in the wake of the United Nations Climate Change Conference, COP28, in Dubai.

  • Saudi Arabia unveils program to localize 75% of jobs in energy sector

    Saudi Energy Minister Prince Abdulaziz bin Salman said that the ministry is working on a program to Saudize 75 percent of jobs in the energy sector. In his speech at the Human Capacity Initiative, Prince Abdulaziz said that that the Saudi energy sector has better opportunities to achieve high rate of Saudization compared to other sectors. “The energy sector at the global level is struggling with difficulties. According to global statistics, women’s participation in the energy sector represents 15 percent,” he said.

  • Two years on, what the Russian invasion of Ukraine means for energy security and net-zero emissions

    Russia’s full-scale invasion of Ukraine on February 24, 2022 has reverberated throughout the global energy landscape, significantly impacting both energy security and the ongoing transition towards sustainable energy sources. Swift action is needed to mitigate risks, strengthen resilience, and ensure that energy remains a driver of stability and prosperity in the face of geopolitical uncertainty. Our experts share their insights on the second anniversary of the war.

  • Saudi Arabian conglomerate Ajlan eyes ‘mega deals’ with Chinese companies in tech, new energy, petrochemical sectors

    Ajlan & Bros Holding Group, a private conglomerate headquartered in Riyadh, Saudi Arabia, is targeting “mega deals” reaching over US$1 billion in value with companies in China’s petrochemicals, new energy, and technology sectors in 2024. The company aims to make strategic investments by acquiring equity stakes, providing financial expertise, and offering legal advice to leading players in these industries, said Vincent Yan, its senior vice-president.