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Egypt and India sign MoU to build a green hydrogen factory worth $8bn
Egypt has signed a memorandum of understanding with an Indian company to build a green hydrogen factory in the Suez Canal Economic Zone, a cabinet statement said on July 27.
According to the MoU, Indian ReNew Power Private Limited will…
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Saudi-Greek Investment Forum sees $3.7bn deals on energy, economy and technology
Ministers from Saudi Arabia and Greece came together with leading private sector officials to discuss ways to enhance economic and investment cooperation between the two countries at a special Forum on Wednesday.
The meeting included…
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The oil majors are about to post unprecedented profits thanks to high energy prices
The major international oil companies are preparing for a record profit of $50 billion in the second quarter of this world, but the stellar performance of the industry could contain what may be the "retreat seeds".
The high profits are a…
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America was exposed to the largest fuel leak in its history
New government estimates revealed that the United States suffered the largest oil leak in its history, after the leakage of a pipeline inside a nature reserve two years ago.
Two teens accidentally discovered the leak in the Colonial…
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International Monetary Fund: America has a very narrow path to avoid recession
The International Monetary Fund considered, today, Tuesday, that the United States has a weak chance of avoiding an economic recession due to the many risks it faces.
"It's a very narrow path," said Pierre-Olivier Gorenchas, chief…
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The International Monetary Fund cuts its global growth forecast as uncertainty grows about the…
The International Monetary Fund on Tuesday cut its global growth forecasts for 2022 and 2023, describing the outlook for the global economy as "more bleak and uncertain".
The International Monetary Fund now expects the global economy to…
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Crude rises on supply concerns; Sri Lanka woos foreign oil firms; Vaar Energi raises dividend
Oil prices rose on Tuesday for a second day on increasing concerns about tightening European supply after Russia, a key oil and natural gas supplier to the region, cut gas supply through a major pipeline.
Brent crude futures for…
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Saudi Cable gets shareholders’ nod for 75% capital cut to reduce losses
Saudi Cable Co. received its shareholders' approval to reduce the company’s capital by 74.6 percent.
The provider of energy and telecoms cables will reduce its capital to SR67 million ($18 million) from SR262 million, a bourse filing…
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To face the energy crisis, the world’s first “sand battery” was invented
Finnish researchers have developed the world's first "sand battery" capable of storing green energy for several months, making it an innovative solution to the global energy crisis.
Finland gets most of its gas from Russia, and the war…
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Crude falls; Petrol, diesel prices rise in Sudan
Oil fell on Monday, reversing earlier gains but continuing a recent losing streak, on concerns that an expected increase in interest rates in the US, the world’s biggest oil user, may limit fuel demand growth.
Brent crude futures for…
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