• 5 minutes Malaysia's Petronas vs. Sarawak Court Case - Will It End Up In London Courts?
  • 9 minutes Sell out now or hold on?
  • 16 minutes Oil prices going down
  • 38 mins Oil prices going down
  • 5 hours After Three Decade Macedonia End Dispute With Greece, new name: the Republic of Northern Macedonia
  • 9 hours What If Canada Had Wind and Not Oilsands?
  • 3 hours Sell out now or hold on?
  • 4 hours Two Koreas Agree To March Together At Asian Games
  • 3 hours Oil and Trade War
  • 21 hours We Need A Lasting Solution To The Lies Told By Big Oil and API
  • 9 hours Australia mulls LNG import
  • 5 hours Geopolitical and Political Risks make their strong comeback to global oil and gas markets
  • 21 hours The Wonderful U.S. Oil Trade Deficit with Canada
  • 21 hours Another WTH? Example of Cheap Renewables
  • 20 hours The Permian Mystery
  • 14 hours No LNG Pipelines? Let the Trucks Roll In
  • 20 mins Trump Hits China With Tariffs On $50 Billion Of Goods
  • 14 hours China & India in talks to form anti-OPEC
  • 2 hours Trump Renews Attack On OPEC Ahead Of Group's Production Meeting
Is Russia Bailing On The OPEC Deal?

Is Russia Bailing On The OPEC Deal?

Russia, the world’s largest oil…

Shale Shifts Attention To This ‘Forgotten’ Oil Play

Shale Shifts Attention To This ‘Forgotten’ Oil Play

As the Permian becomes overcrowded,…

UK Expects UAE to Help with £200Bn Investment in Energy Sector Transformation

Greg Barker, the UK’s minister of state for energy and climate change, has recently stated that the UAE will be a major investor in Britain’s £200 billion ($321 billion) renewable energy plans which will transform the energy sector over the next decade.

Barker, at the World Future Energy Summit in Abu Dhabi, has said that Gulf countries will make the largest contributions to help Britain reduce its greenhouse gas emissions by 34% by 2020.

The largest investments are expected to be in the form of large wind farms, where Abu Dhabi has already made some progress in the form of the London Array, the largest offshore wind farm in the world, in which its Masdar investment company owns a 20% stake.

Related Article: Rail and Pipelines Merge in Oil Transit Bonanza

Barker stated that, “the London Array is just the beginning. I’m really delighted at the way in which the investment relationship between a number of actors from Abu Dhabi and the UK is developing.

Abu Dhabi has recognised that they are an energy economy, that they are not just a fossil fuel producer. They have a much more 21st century take on the global energy economy, and are determined to be a participant in every sector of that.”

MPs are discussing the new energy bill before it becomes official. Currently it allows electricity providers to charge higher rates to consumers in order to attract investors who will be guaranteed a minimum return for their new energy projects.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News