<i>Hello from The National and welcome to the Energy This Week newsletter, our expert analysis on oil & gas, renewables and clean energy.</i> Oil prices recorded their <a href="https://www.thenationalnews.com/business/energy/2024/10/18/oil-heading-for-biggest-weekly-loss-in-more-than-a-month-amid-demand-woes/">biggest weekly loss</a> in more than a month last week, with Brent crude falling more than 7 per cent. They were hit by the weakening demand outlook, lessening fears of a supply disruption in the Middle East and a resumption of full Libyan oil exports. However, prices <a href="https://www.thenationalnews.com/business/markets/2024/10/21/oil-prices-bounce-back-after-steep-decline-on-chinas-move-to-boost-its-economy">bounced back</a> on Monday, helped by interest rate cuts in China. Having begun last week at $79.04, Brent closed at $76.04 on Tuesday, up from Friday’s $73.06 per barrel. The International Energy Agency says that oil and gas prices will <a href="https://www.thenationalnews.com/business/energy/2024/10/16/crude-surplus-and-clean-energy-boom-to-lower-energy-prices-this-decade-iea-says/">fall later this decade</a> due to a surplus of production, and a surge in clean energy technologies. Despite this, the world is headed for 2.4°C of global warming, well above the 1.5°C target of the Paris Agreement. Abu Dhabi-based Khazna is planning to build more data centres in the UAE, with the country’s capacity set to <a href="https://www.thenationalnews.com/future/technology/2024/10/15/abu-dhabis-khazna-unveils-uaes-largest-data-centre-as-it-expects-850mw-capacity-by-2029">double to 850 megawatts</a> by 2029. This is a significant contribution to national electricity demand. Its centres are intended to be energy-efficient and zero-waste. The rise of data centres is boosting electricity consumption globally, and <a href="https://www.thenationalnews.com/business/energy/2024/10/21/nuclear-energy-amazon-microsoft-data/">reviving interest in nuclear</a> as a low-carbon power source. Britain, though, has failed to make the most of its nuclear opportunity. The new Labour government <a href="https://www.thenationalnews.com/opinion/2024/10/22/uks-energy-ambition-misses-nuclear-solution-to-digital-future/">should take the chance</a> to turn that around. Oman’s OQ Exploration and Production <a href="https://www.thenationalnews.com/business/energy/2024/10/17/oqs-exploration-and-production-subsidiary-raises-2-billion-in-omans-largest-ipo/">raised $2.02 billion</a> from its initial public offering. Twenty-five per cent of the oil and gas production company was listed on the Muscat Stock Exchange, pricing at the top of its indicated range. The UAE’s largest fuel retailer, Adnoc Distribution, will <a href="https://www.thenationalnews.com/business/energy/2024/10/20/adnoc-distribution-developing-more-than-20-ai-tools-to-optimise-operations-ceo-says/">optimise its operations</a> using more than 20 artificial intelligence tools, says chief executive Bader Al Lamki. This includes building new petrol stations in the most efficient way, moving products from depots to service stations, and analysing more than 200 million annual transactions. Adnoc’s acquisition of a majority stake in fertiliser maker Fertiglobe should enable it to <a href="https://www.thenationalnews.com/business/energy/2024/10/18/adnoc-deal-will-pave-way-for-more-long-term-ammonia-contracts-for-fertiglobe-ceo-says/">secure</a> more long-term contracts for low-carbon ammonia, says chief executive Ahmed El Hoshy. Fertiglobe won Germany’s first auction for renewable-made ammonia this year. Ardian, a French private equity group, is looking into <a href="https://www.thenationalnews.com/business/economy/2024/10/17/ardian-considering-co-investment-in-green-hydrogen-with-masdar-and-pif/">investing in green hydrogen</a> with Abu Dhabi’s clean energy company Masdar. With $169 billion of assets under management, Ardian is also interested in hydrogen in Saudi Arabia. Tesla and state-backed UAEV have been <a href="https://www.thenationalnews.com/future/technology/2024/10/16/tesla-and-uaev-receive-first-independent-ev-charging-permits-in-dubai">granted</a> the first independent electric vehicle charging licences by the Dubai Electricity and Water Authority. By the end of last year, there were 25,929 EVs on Dubai’s roads, up from 15,100 a year before. The farm of Emirati entrepreneur Abdulrahman Al Shamsi grows fruit, vegetables and raises livestock and poultry, in a <a href="https://www.thenationalnews.com/news/uae/2024/10/21/al-ain-farm-offers-model-for-countries-to-tackle-food-security-and-water-scarcity-says-minister">closed, self-sufficient system</a>. Such climate solutions developed for the hot and arid conditions of farms in the UAE could help global food security. Astronauts say they <a href="https://www.thenationalnews.com/future/space/2024/10/19/astronauts-reveal-alarming-climate-change-impact-seen-from-space/">see worrying signs</a> of climate change on their flights over Earth, such as shrinking ice-cover in the Arctic and devastation to the Amazon rainforest. At least nine million people worldwide are <a href="https://www.thenationalnews.com/climate/2024/10/17/much-talk-but-little-action-on-climate-refugee-crisis-says-unhcr-official">currently displaced</a> because of climate-linked crises, and the UN refugee agency says there is not enough support for them.