Александр Новак также подчеркнул, что реализации задач комплексного увеличения и диверсификации экономического сотрудничества между двумя странами призвана способствовать принятая программа российского-саудовского стратегического сотрудничества высокого уровня.

The UAE is investing in various hydrogen projects as the Gulf state seeks to capitalize on the global appetite for green energy products as the energy transition trend gains momentum.

Karachi unit 3 - which like unit 2 is also an 1100 MW Hualong One unit supplied by China National Nuclear Corporation (CNNC) - is expected to generate electricity early next year,

Siemens Energy, in collaboration with Dubai Electricity and Water Authority (DEWA) and Expo 2020 Dubai, has inaugurated the first industrial scale, solar-driven green hydrogen facility in the Middle East and North Africa.

"The main issues, oil sanctions, petrochemical sanctions, shipping sanctions, insurance and so on and so forth, Central Bank and banks ... have been wrapped up," Iranian President Hassan Rouhani said on state television

UAE bets on solar and green hydrogen to reduce its emissions.

Saudi Arabia is aiming to generate 50 percent of its energy from renewables by 2030, with the remainder provided by gas.

Green hydrogen is produced from renewable energy, while blue hydrogen is derived from fossil fuels with carbon capture, utilization and storage.

Russia, the largest non-OPEC partner in the alliance, has increasingly flouted its cap over the last several months, with its excess production soaring to 877,000 b/d.

Iran, an OPEC member whose oil exports have dwindled since the re-imposition of US sanctions in 2018, began in April indirect talks with the US in Vienna amid hopes for Washington to rejoin the 2015 Joint Comprehensive Plan of Action nuclear deal.

Net income for the first quarter of 2021 increased to SAR 81,440 ($21,717), from SAR 62,478 ($16,661) for the same period in 2020, primarily driven by higher crude oil prices, improved downstream margins and the consolidation of SABIC’s results, partly offset by lower crude oil volumes sold.

Basrah Gas Co., which counts Shell, Mitsubishi Corp. and Iraq's state-owned South Gas Co. as shareholders, will boost its production to 1.4 Bcf/d from the current 1 Bcf/d by 2025 at a cost of $3 billion,

OPEC+ officials said they see no reason to be alarmed, and the group's production is set to rise anyway.

The Sinopec award comes on the heels of an agreement between Iraq and Total to jointly work on developing four associated gas and solar power projects.

The kingdom exported 5.63 million b/d in February, according to JODI data released April 19, down 957,000 b/d from January.