Saudi Arabia is about to launch four giant projects to produce solar photovoltaic systems within a national renewable energy program.

The company, which builds power and desalinated water plants and has 50% of its portfolio in Saudi Arabia, plans to expand into new markets, Paddy Padmanthan told Reuters on the sidelines of an energy event in Abu Dhabi.

Global economic growth is forecast to edge up to 2.5% in 2020 as investment and trade gradually recover from last year’s significant weakness but downward risks persist, the World Bank says in its January 2020 Global Economic Prospects.

Under the agreement, Masdar will develop, build and operate the 200MW solar PV project, which will be located 75 kilometres southwest of the capital, Baku. Financial close on the project is targeted for the end of 2020, while commercial operation is expected to be achieved in 2022.

The ceremony was held in the presence of Ali Asadov, Prime Minister of Azerbaijan; Parviz Shahbazov, Minister of Energy; Mohammad Abunayyan, Chairman of ACWA Power, and Rajit Nanda, Chief Investment Officer of ACWA Power.

Total nonfarm payroll employment rose by 145,000 in December, and the unemployment rate was unchanged at 3.5 percent,

The Norwegian Petroleum Directorate projects that the overall production of oil and gas in 2024 will be close to the record year 2004 – among other things due to Sverdrup and because the Johan Castberg field in the Barents Sea is scheduled to come on stream in 2022.

Aramco has vowed to pump almost $160 billion into growth in the natural gas sector over the next decade, with a sizable portion of that money to be designated for LNG projects overseas.

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced that the goods and services deficit was $43.1 billion in November, down $3.9 billion from $46.9 billion in October, revised.

Capital expenditures were $75 billion in third-quarter 2019, 9% lower than in third-quarter 2018.

The UAE Energy Strategy 2050 aims to achieve an energy mix that combines renewable and clean energy sources to balance economic requirements and environmental goals. The UAE will invest AED 600 billion until 2050 to meet the growing energy demand and ensure the sustainable growth of economy.

Foreign direct investments (FDI) into Oman jumped to $30.26bn (RO11.65bn) in Q2 2019, up 13.3% from the same period in 2018, when it got $26.7bn (RO10.29bn) in FDI, according to the National Centre for Statistics and Information. Investment into manufacturing reached $4.15bn (RO1.6bn) in Q2 2019,

Last week, Russia and Ukraine announced the terms of a new gas transit deal under which Moscow will supply Europe for at least five years via its former Soviet neighbor and pay a $2.9 billion settlement to Kiev to end a legal dispute.

In the wake of the global financial crisis, growth in Turkey became increasingly dependent on externally-funded credit and demand stimulus, and, as a result, Turkey’s economy began running above potential with a large current account deficit and high inflation.

The Nigerian National Petroleum Corporation (NNPC) has a 20%stake in the plant some 60 miles (100 km) southeast of Lagos.