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.
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.
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.
Al-Harfi and SCLCO signed agreements with Syrian authorities to develop solar and wind capacity, amid an ongoing energy rapprochement between Riyadh and Damascus.
QatarEnergy continues its international expansion by acquiring 27% of the offshore North Cleopatra block from Shell, amid Egypt’s strategic push to revive gas exploration in the Eastern Mediterranean.
Veolia and TotalEnergies formalise a strategic partnership focused on water management, methane emission reduction and industrial waste recovery, without direct financial transaction.
The new GeoMap tool identifies vast geothermal potential in the Middle East, notably for urban cooling, long-duration storage, and large-scale power generation.
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.
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.
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.
The Egyptian government is accelerating the deployment of its gas network and the conversion of vehicles to CNG, strengthening infrastructure despite a decline in domestic production.
ACWA Power and Larsen & Toubro will collaborate on renewable infrastructure for a green hydrogen project in Yanbu, Saudi Arabia, targeting 4 GW of electrolysis capacity by 2030.
The European Bank for Reconstruction and Development leads an international financing structure to support the construction of a wind farm in Ras Ghareb, as part of Egypt’s national energy strategy.
Cairo has concluded three new exploration agreements with Apache, Dragon Oil and Perenco, for a total investment of over $121mn, as national gas output continues to decline.
ACWA Power secures the NOOR Midelt 2 and 3 solar-storage project in Morocco, outbidding European and Emirati competitors, with decisive backing from Gotion High-Tech’s storage technology.
Iran has reached a new agreement with the International Atomic Energy Agency to formalise the resumption of inspections, following months of suspension linked to military tensions and criticism of its nuclear programme.
In July, India became the biggest buyer of Russian oil, surpassing China, against a backdrop of Western sanctions against Moscow and changes in global trade flows.
ACWA Power strengthens its presence in Indonesia by signing an agreement for a 60 MW floating solar power project, marking a strategic step forward in the renewable energy sector.
Saudi Arabia, a key player in OPEC, is significantly increasing its oil production, jeopardizing the balance of world prices and threatening the economic stability of the energy sector.
Russian exports of thermal coal have risen sharply, boosted by strong demand in the Asia-Pacific and Mediterranean regions, as well as a temporary reduction in export tariffs.
PDVSA and Veneoranto, a subsidiary of Atlas Oranto, have signed an agreement to exploit the Barracuda and Boca de Serpiente gas fields, strengthening Venezuela's position in the global natural gas market.
Global overcapacity in the petrochemicals sector, exacerbated by Chinese expansion and energy costs in Europe, is forcing companies to undertake drastic restructuring, including plant closures and strategic consolidations.
The imminent expiry of the gas transit agreement between Russia and Ukraine in 2024 could lead to major disruptions in energy supplies to several European countries, exacerbating current geopolitical tensions.
Saudi Aramco's new official sales prices for September were lower than expected, reflecting weak refining margins in Asia and the forthcoming OPEC+ production increase.
Saudi oil giant Aramco posted second-quarter net income of $29.07 billion, down slightly on the previous year, due to lower production volumes and refining margins.
China exports a record 120,427 MW of solar modules in the first half of 2024, thanks to a substantial reduction in prices, despite persistent trade tensions.
India is turning to geothermal energy to diversify its sources of renewable energy.
Singareni Collieries Company Limited has already set up a 20 kW pilot plant in Manuguru, Telangana.
Global oil reserves remain stable at 1,536 billion barrels, posing a challenge in the face of growing demand without rapid electrification of transport.
