Taiwan hit by 7.0 earthquake off Yilan
A 7.0 magnitude earthquake struck offshore near Taiwan’s north-eastern county of Yilan late on Saturday, shaking buildings across the island, includ...
TotalEnergies has started building Iraq’s largest solar power plant in Basra as part of a $27 billion energy deal. The 1,000MW project will boost renewable energy and reduce gas flaring.
France’s TotalEnergies has begun constructing Iraq’s largest solar power plant in Basra as part of a $27 billion energy deal signed in 2023, according to Arabian Gulf Business Insight.
The 1,000MW plant will feature two million solar panels and is intended to diversify Iraq’s energy supply. With 50% owned by TotalEnergies and the remaining stake held by QatarEnergy, the project is part of a broader agreement covering oil and gas development, solar power, and seawater desalination.
TotalEnergies has also committed to tackling Iraq’s gas flaring issue, which has contributed to energy shortages. Initial phases of the solar and gas projects are set for completion between 2025 and 2027.
In late 2024, officials confirmed that TotalEnergies would invest heavily in the Ratawi oilfield, aiming to boost production from 80,000-90,000 barrels per day (bpd) to around 210,000 bpd. With proven reserves of nearly 10 billion barrels, Ratawi’s light crude is in high demand globally.
Meanwhile, British oil giant BP recently finalised a deal with Iraq to redevelop four oil and gas fields in Kirkuk, with an investment of up to $25 billion.
Iraq aims to generate 12GW of clean energy by 2030 and has awarded contracts to companies including Abu Dhabi’s Taqa and Saudi Arabia’s Acwa Power for seven solar plants with a total capacity of 7.5GW.
New York placed the state under emergency measures on Friday as a powerful winter storm brought the heaviest snowfall since 2022, disrupting travel across the north-east of the United States.
A 7.0 magnitude earthquake struck offshore near Taiwan’s north-eastern county of Yilan late on Saturday, shaking buildings across the island, including in the capital Taipei, authorities said.
President Volodymyr Zelenskyy arrived in the United States ahead of talks with President Donald Trump aimed at ending the war, as Russia launched hundreds of drones and dozens of missiles at Kyiv and other parts of Ukraine overnight on Saturday, killing at least two people and injuring more than 40.
Iran is engaged in a “comprehensive war” with the United States, Israel, and Europe, Iranian President Masoud Pezeshkian stated on Saturday.
Israel became the first country to formally recognise Somaliland as an independent state on Friday, drawing strong condemnation from Somalia and regional and international organisations.
China has given the nod for car makers to sell Level 3 self-driving vehicles from as early as next year after it approved two electric sedans from Changan Auto and BAIC Motors.
Warner Bros Discovery’s board rejected Paramount Skydance’s $108.4 billion hostile bid on Wednesday (17 December), citing insufficient financing guarantees.
Ford Motor Company said on Monday it will take a $19.5 billion writedown and scrap several electric vehicle (EV) models, marking a major retreat from its battery-powered ambitions amid declining EV demand and changes under the Trump administration.
Iran has rolled out changes to how fuel is priced at the pump. The move is aimed at managing demand without triggering public anger.
U.S. stock markets closed lower at the end of the week, as investors continued to rotate out of technology shares, putting pressure on major indices.
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