Saudi Arabia is on a journey to move away from an over-reliance on oil as the driver for economic growth, as part of its Vision 2030 initiative.

The agreement includes cooperation in the fields of demand management for renewable energy, reliable and sustainable operating of energy systems, and standard indicators of energy consumption in the industrial sector.

Saudi Arabia plans to generate 15109 gigawatt hours of electricity from renewable sources by 2024, supplying 692,557 houses with energy, the Kingdom's Gastat said on its website.

The Iranian Energy Ministry announced, last week, a plan to add another 10GW of renewable energy capacity over the next four years as part of an overall strategy to deploy 30GW of power generation capacity.

The country's installed capacity reached 99.8 GW by the end of 2021 (up from over 96 GW in late 2020).

Iraq, OPEC's second largest producer, has a January quota of 4.281 million b/d.

Reconfirm the production adjustment plan and the monthly production adjustment mechanism approved at the 19th OPEC and non-OPEC Ministerial Meeting and the decision to adjust upward the monthly overall production by 0.4 mb/d for the month of February 2022.

With Russia nearing its maximum capacity and Nigeria, Angola and several other countries struggling to maintain output, OPEC+ sustainable spare capacity will shrink to just 1.2 million b/d by June, lessening the group's ability to offset disruptions.

Abu Dhabi National Energy Company (TAQA) and Abu Dhabi National Oil Company (ADNOC) have decided to invest US$3.6bn to decarbonise ADNOC's offshore production operations in the United Arab Emirates (UAE).

Exports had grown substantially in 2021: over the 11 months of this year, Gazprom’s gas deliveries to Turkey were 83.7 per cent higher than in the same period of 2020.

QIA made an investment of GBP85 million (USD112 million) to secure a 10% shareholding in Rolls-Royce SMR Ltd, Rolls-Royce said today.

The United Arab Emirates (UAE) is a global pioneer in innovation and a regional leader in using nuclear energy to meet its sustainable energy and climate action ambitions

The Neutral Zone fields, which lie in onshore and offshore territory shared by Saudi Arabia and Kuwait at their border, were offline for more than four years until 2020, due to a political dispute that was resolved with a signing of an agreement in December 2019.

Iraq's OPEC+ quota rose to 4.193 million b/d last month, from 4.149 million b/d in October, as the coalition continued to raise production caps.

Aramco Gas Pipelines Co. will lease usage rights in its parent company's gas pipelines network and lease them back to Aramco for a 20-year period.