Saudi Arabia

Spain completes IAEA recommendations on radioactive waste management

An international audit led by the International Atomic Energy Agency confirms that Spain has fully addressed the recommendations made in 2018 regarding its nuclear waste management programme.

Gauss Fusion unveils Europe’s first industrial design for a fusion power plant

Gauss Fusion has released a full-scale plan for GIGA, its first commercial fusion power plant, amid Germany’s growing ambition to lead the future energy race.

Aramco takes control of Petro Rabigh with $702 million acquisition

Aramco becomes Petro Rabigh's majority shareholder after purchasing a 22.5% stake from Sumitomo, consolidating its downstream strategy and supporting the industrial transformation of the Saudi petrochemical complex.
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Uniper signs seven-year biomethane purchase agreement with Five Bioenergy

German group Uniper has entered into a long-term supply deal with Five Bioenergy for biomethane produced in Spain, with deliveries scheduled to begin in 2027.

Oil rises 1.3% after limited OPEC+ output increase

Crude prices rose following the decision by the Organization of the Petroleum Exporting Countries and its allies to increase production only marginally in November, despite ongoing signs of oversupply.

Spanish solar producers warn of impact from negative electricity prices

Spanish solar energy producers have recorded 693 hours of zero or negative prices since January, already matching the total for the previous year, raising concerns about the sector’s profitability and market stability.
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Global green ammonia market to reach $38.5bn by 2033, driven by large-scale projects

Green ammonia reaches a new industrial milestone with 428 active projects and over $11bn in investments, highlighting accelerated sector growth across Asia, the Middle East, Europe and the Americas.

Saudi companies to launch 500 MW of energy projects in Syria

Al-Harfi and SCLCO signed agreements with Syrian authorities to develop solar and wind capacity, amid an ongoing energy rapprochement between Riyadh and Damascus.

Opec+ raises production by 137,000 barrels per day in November

Opec+ slightly adjusts its quotas for November, continuing its market share recovery strategy amid stagnant global demand and a pressured market.
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Veolia and TotalEnergies sign agreement to optimise industrial resources

Veolia and TotalEnergies formalise a strategic partnership focused on water management, methane emission reduction and industrial waste recovery, without direct financial transaction.

Technip Energies secures two major contracts for Ecoplanta methanol plant in Spain

Technip Energies has secured two engineering contracts from Repsol for an innovative waste-to-methanol facility in Tarragona, Spain, marking a strategic milestone in its partnership with Enerkem.

April blackout in Spain and Portugal caused by unprecedented power surge

The blackout that hit the Iberian Peninsula in April originated from a series of unprecedented surges. The European report points to a sequence of technical failures but does not yet identify a primary cause.
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Project InnerSpace unveils GeoMap in the Middle East with 14,000 GW geothermal potential

The new GeoMap tool identifies vast geothermal potential in the Middle East, notably for urban cooling, long-duration storage, and large-scale power generation.

OPEC+ prepares new production hike amid rift between Riyadh and Moscow

Eight OPEC+ countries are set to increase oil output from November, as Saudi Arabia and Russia debate the scale of the hike amid rising competition for market share.

Iberdrola adds 708 MW of solar capacity to joint venture with Norges Bank

Iberdrola strengthens its partnership with Norges Bank Investment Management by adding two Spanish photovoltaic plants, raising joint operational capacity to 900 MW.
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France, Spain and Portugal seek to speed up electricity interconnectors

The three countries will hold a meeting in October to unlock interconnector projects, following a major blackout that exposed the fragility of the Iberian Peninsula’s electricity integration.

Half of Europe’s power grid exposed to blackout risks

Up to 55% of Europe’s electricity system remains vulnerable due to weak interconnection capacity, increasing the risk of widespread outages in several countries, according to a new report.

Jolt launches advanced electrode plant at SPARK with Saudi government support

Jolt Green Chemical Industries appoints Dyar Al-Safwah to engineer a high-performance electrode facility at King Salman Energy Park, backed by the Ministry of Energy.
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Fortescue forges global industrial alliances to electrify its mining operations

Fortescue accelerates the decarbonisation of its operations by leveraging an international network of technology and industrial partners, targeting net zero at its mining sites by 2030.

U.S. oil drilling rebounds amid global tensions

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.

Octopus Energy injects 600 MW into solar and storage in Spain

Octopus Energy strengthens its presence in Spain with three new energy projects totalling 600 MW, powering 2.3 million households and accelerating the expansion of its European renewables portfolio.

Grenergy sells 10% of Chilean megaproject to CVC DIF for $475mn

Grenergy has finalised the sale of the fourth phase of its hybrid solar-storage project in Chile to CVC DIF, valued at up to $475mn, while retaining operation and maintenance for five years.

Q ENERGY closes financing for seven hybrid solar plants in Spain

Q ENERGY secures financing for 252 MW of solar projects in Spain, marking its first independent power producer operation on the Iberian Peninsula.
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French energy regulator corrects ten public claims on costs and production

In France, the Commission de régulation de l’énergie issues a clarification on ten statements shared over the summer, correcting several figures regarding tariffs, production and investments in the electricity sector.

Aramco and SOMO suspend crude supplies to India’s Nayara Energy

Saudi and Iraqi exporters halted supplies to Nayara Energy, forcing the Rosneft-controlled Indian refiner to rely solely on Russian crude in August.

ACWA Power commits to study 2,500 MW of energy projects in Syria

ACWA Power has signed an agreement with the Syrian Ministry of Energy to assess up to 2,500 MW of solar, wind and storage projects, along with a technical audit of the national grid and existing infrastructure.
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Global renewable energy investments reach $386 billion in first half

Driven by distributed solar and offshore wind, renewable energy investments rose 10% year-on-year despite falling financing for large-scale projects.

Kuwait launches tenders for 1.8GW energy and water project

The Kuwaiti government has invited three international consortia to submit bids for the first phase of the Al Khairan project, combining power generation and desalination.

United States clears Rio Grande and Commonwealth LNG toward final decisions

U.S. regulators have approved two major milestones for Rio Grande LNG and Commonwealth LNG, clarifying their investment decision timelines and reinforcing the country’s role in expanding global liquefaction capacity.
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Bangladesh finalises memorandum with Aramco for LNG supply deals

Petrobangla plans to sign a memorandum with Saudi Aramco to secure liquefied natural gas deliveries under a formal agreement, following a similar deal recently concluded with the Sultanate of Oman.

Anaergia signs $13.23mn contract with Nortegas for biomethane plant in Spain

Anaergia’s Italian subsidiary has been selected by Nortegas Renovables to build a biomethane facility in Andalusia using agricultural residues.

OSW raises USD 5.5 million to support its global solar market expansion

Australian distributor OSW secures strategic funding to accelerate U.S. growth and deploy its digital solar project management platform.
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Masdar mobilizes USD 1.685 billion for energy projects through green bonds

Masdar has allocated the entirety of its 2023–2024 green bond issuances to solar, wind, and storage energy projects, while expanding its financial framework to include green hydrogen and batteries.

Masdar completes financing for the 2 GW Al Sadawi solar project in Saudi Arabia

The consortium led by Masdar has secured approximately $1.1 billion in financing to build one of the world’s largest solar power plants in Saudi Arabia’s Eastern Province.

Global Petrochemical Investments Projected to Reach USD 956 Billion by 2032

Driven by rising industrial demand and emerging capacities in Asia, the global petrochemicals market is expected to see sustained expansion despite regulatory pressures and raw material cost challenges.
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Low-carbon ammonia faces technical and financial challenges in shipping

According to the Oxford Institute for Energy Studies, the adoption of low-carbon ammonia in maritime transport faces economic, regulatory, and safety barriers, despite growing international pressure to reduce emissions from the global fleet.

Global EV Charging Points to Reach 206.6 Million by 2040

Electric vehicle charging infrastructure investments are expected to hit $300 billion by 2040, driven by a 12.3% annual increase in global charging port deployments.

The aviation fuel market projected to reach USD 751 billion by 2032

With an annual growth rate estimated at 10.11%, the global aviation fuel market could reach USD 751 billion by 2032, driven by increasing air traffic and new industrial partnerships.
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Iran cuts 1.4 GW to Iraq, Baghdad speeds up regional interconnections

The suspension of 1,400 MW of electricity supplied by Iran to Iraq puts pressure on the Iraqi grid, while Tehran records a record 77 GW demand and must balance domestic consumption with regional obligations.

Aramco sells 49% of Jafurah Midstream to GIP for $11 billion

Aramco finalizes a strategic agreement with an international consortium led by GIP, valuing its midstream gas assets in Jafurah at $11 billion through a lease and leaseback contract.