RIYADH: On a macro level, Dubai’s 8th World Green Economy Summit will be held in September to discuss transition toward a green economy. Zooming in, US-based Baker Hughes has signed an agreement to sell its oilfield services business in Russia to its local management team.
Looking at the bigger picture
- Dubai’s 8th World Green Economy Summit, to be held in September, will focus on accelerating the transition toward a green economy and drive sustainable development, according to the Emirates News Agency.
Organized by the Dubai Electricity and Water Authority and the World Green Economy Organization, the summit will focus on decarbonizing energy systems and mobilizing investment for green growth.
- China’s State Grid is planning to invest over $22 billion during the second half of 2022 in ultra high-voltage transmission lines, Reuters reported citing state media Xinhua News.
Through a micro lens
- US-based Baker Hughes has signed an agreement to sell its oilfield services business in Russia to its local management team, Trade Arabia reported.
This happens after the oil field services firm previously announced suspension of new investments for its Russia operations.
- British chemicals maker Johnson Matthey is currently in talks with the investment arm of China’s Sinopec for exploring a collaboration in decarbonization technologies in China.
The companies have started talks to explore possibilities in hydrogen technologies, fuel cells and decarbonization technologies, according to Reuters.