The levelised cost of solar electricity continues to fall globally, reaching a regional record of $37/MWh in the Middle East and Africa thanks to tracker technologies, according to the latest market data.
VoltaGrid and Halliburton launch a strategic collaboration to deploy distributed power systems for data centres, with an initial rollout planned in the Middle East.
Vantage Drilling halted a 260-day drilling contract for the vessel Platinum Explorer following a rapid evolution of international sanctions regimes that made the campaign non-compliant with the applicable legal framework shortly after it was signed.
The Egyptian government and UAE-based K&K have signed an agreement to finalise studies for an electricity interconnection project linking Egypt to Europe via Italy.
Sultan Qaboos University announces a breakthrough in water electrolysis using new rare-metal catalysts, improving production efficiency by more than 30%.
A consortium led by Masdar and CPP Investments proposes to acquire all of ReNew at $8.15 per share, representing a 15.3% increase over the initial offer.
India faces mounting pressure from the United States over its purchases of Russian oil, as Donald Trump claims Prime Minister Narendra Modi pledged to halt them.
Australian group Santos lowers its annual production forecast after an unplanned shutdown at the Barossa project and delayed recovery in the Cooper Basin.
The New Vista vessel, loaded with Abu Dhabi crude, avoided Rizhao port after the United States sanctioned the oil terminal partly operated by a Sinopec subsidiary.
The US Treasury Department has imposed sanctions on more than 50 entities linked to Iranian oil exports, targeting Chinese refineries and vessels registered in Asia and Africa.
The consortium led by Engie and Masdar has been selected to develop a 1.5 GW photovoltaic plant in Abu Dhabi, aimed at expanding the emirate’s solar capacity under its long-term energy strategy.
Alnaft has signed two study agreements with Omani firm Petrogas E&P on the Touggourt and Berkine basins, aiming to update hydrocarbon potential in key oil-producing areas.
GVH and Samsung C&T join forces to accelerate international deployment of BWRX-300 small modular reactors, with a strong focus on Sweden and the consolidation of the nuclear supply chain.
Dubai's electricity authority strengthens its electric vehicle charging network through three major contracts with ENOC, Dubai Taxi and Parkin under its EV Green Charger programme.
Sembcorp Salalah Power & Water Company has obtained a new 10-year Power and Water Purchase Agreement from Nama Power and Water Procurement Company, ensuring operational continuity until 2037.
US-based fund KKR has acquired a minority interest in the gas pipeline assets of Abu Dhabi oil operator ADNOC, continuing its strategy to expand energy infrastructure investments in the Middle East.
Global South Utilities, filiale de Resources Investment LTD, inaugure à N’Djamena la centrale Noor Chad de 50 MW avec 5 MWh de stockage, dimensionnée pour alimenter des centaines de milliers de foyers et exploitée directement par l’entreprise.
The number of active drilling rigs in the United States rose for the fourth consecutive week, supported by higher crude prices and OPEC+’s difficulties in meeting production targets.
Sempra divests a majority stake in Sempra Infrastructure Partners to a consortium led by KKR for $10bn, valuing the entity at $31.7bn, while launching phase 2 of the Port Arthur LNG terminal for $14bn.
Despite growing calls to reduce hydrocarbon production, a report by the NGO Urgewald reveals that the oil and gas industry has invested an average of $61.1 billion annually in exploration over the past three years.
Masdar, the UAE's renewable energy leader, signs an agreement to develop a 1 GW wind farm in Uzbekistan's Mingbulak region. This project aims to strengthen energy security and support the country's green transition.
G7-linked tankers are returning to Russian routes, reaching a seven-month high as they seize opportunities presented by the weakness of Russian crude prices under the $60/barrel cap.
With a net profit of $1.24 billion in Q3 2024, ADNOC Gas surpasses expectations and announces a growth strategy targeting a 40% increase in EBITDA by 2029, supported by $15 billion in investments.
At COP29, Rafael Grossi, Director General of the International Atomic Energy Agency (IAEA), emphasizes the inclusion of nuclear energy in climate financing, while targeting a regulated access approach for developing countries.
Masdar and KESH sign a strategic partnership to develop large-scale renewable energy projects, positioning Albania as a key player in the European energy market.
Saudi Arabia, the world’s largest oil exporter, has inaugurated its first carbon credit exchange platform during COP29 in Baku, aiming to bolster its decarbonization efforts and diversify its economy.
To meet growing demand, global gas liquefaction capacity could increase by 45% by 2030, supporting decarbonization goals in countries like India, which rely on natural gas for their energy transition.
Saudi Aramco reduces its December official selling prices for crude oil bound for Asia, a move in line with market expectations. Adjustments vary by crude type, with larger cuts for lighter grades.
As COP29 approaches in Azerbaijan, tensions emerge as climate ambitions clash with economic realities, and vulnerable nations express growing impatience.
ADNOC, the national oil company of the United Arab Emirates, deploys autonomous artificial intelligence to optimize operations, reduce costs, and enhance energy efficiency.
Saudi Arabia, Russia, and six other OPEC+ countries extend their production cuts by 2.2 million barrels per day until the end of December to support oil prices weakened by uncertain demand.
Saudi Aramco and PetroVietnam signed a collaboration agreement to strengthen their activities in refining and petrochemicals in Vietnam, marking a new phase of strategic energy cooperation.
The clean energy technology market could reach a value of $2 trillion by 2035, driven by solar, wind, electric vehicles, and other innovations, according to the latest IEA report.
The United Arab Emirates, Azerbaijan, and Brazil, hosts of the upcoming COP conferences, plan a 32% increase in fossil fuel production by 2035, despite their commitment to limiting global warming to 1.5 degrees.
OMV, the Austrian energy giant, exceeds forecasts for the third quarter of 2024, driven by its chemical division, which offsets declining results in the fuel and raw materials sector.
Masdar and EMSTEEL, based in Abu Dhabi, conduct a pilot project to produce steel using green hydrogen, aiming to reduce the carbon footprint of the steel industry in a region where heavy industry is essential.
With increasing sanctions against Russian LNG, an evasion ecosystem is emerging in various global hubs, fostering transactions in local currencies and a parallel trade network.
