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Energy & Sustainability

Oil and gas, renewables, storage and environmental industries

Industry News
Source: Menafn

Abu Dhabi Chamber Wins Best Sustainability Initiative for Business Label Program

The Abu Dhabi Chamber of Commerce and Industry has received the 'Best Sustainability Initiative' award at the 10th Abu Dhabi Sustainable Business Leadership Awards for its Sustainability Label. Organized by the Abu Dhabi Sustainability Group, the award recognizes the tool for helping private companies assess and advance their environmental, social, and governance performance. The Chamber stated it aims to expand the initiative to support broader private-sector competitiveness.

Industry News
Source: Gulf Business

Saudi Arabia Cuts November Oil Prices to Asia to Six-Year Lows

Saudi Aramco has unexpectedly reduced its official selling prices for crude oil delivered to Asia in November to six-year lows. The flagship Arab Light grade was priced at a 5-dollar-per-barrel discount to the Oman and Dubai benchmark average, marking a 3-dollar reduction from October. Asian refining sources indicated the price cuts appear intended to offset elevated freight costs and safeguard export market share.

Industry News
Source: reuters.com

High Logistics Costs Keep Brent Above $100 Despite Rising Strait Oil Flows

Middle East crude exports through the Strait of Hormuz climbed to 14.2 million barrels per day in late September, recovering to nearly 80% of pre-war levels, according to Kpler data cited by Reuters. Despite easing crude availability, Brent prices remain above $100 per barrel due to logistical bottlenecks, including record tanker rates and soaring insurance costs.

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