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Saudi Arabia

QIA invests $535mn to increase its stake in Colombian power producer ISAGEN

Qatar’s sovereign wealth fund has raised its stake to approximately 15% in ISAGEN, one of Colombia’s leading power producers, through a $535mn investment alongside Brookfield.

Europe’s gas: summer storage sets a floor under TTF

European inventories curbed price declines as liquefied natural gas (LNG) supply expands and demand stays weak. Cargo arbitrage favours Europe, but winter will determine the equilibrium level. —

Midad Energy signs $5.4bn contract with Sonatrach in Algeria

Sonatrach and Midad Energy North Africa signed a production-sharing hydrocarbon contract in the Illizi South perimeter, involving a total investment estimated at $5.4bn for exploration and exploitation of the site.
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Global energy demand rises by 40 million barrels of oil equivalent per day

Aramco CEO Amin Nasser warns of growing consumption still dominated by hydrocarbons, despite massive global energy transition investments.

Koweït découvre un champ gazier offshore de 28,3 milliards de m³

Kuwait Petroleum Corporation annonce une découverte majeure dans la zone offshore avec le champ de Jazah, soutenant les efforts publics d’investissement dans les infrastructures énergétiques nationales.

OPEC maintains demand forecast and lowers expected 2026 deficit

OPEC confirms its global oil demand growth forecasts and anticipates a much smaller deficit for 2026, due to increased production from OPEC+ members.
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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.

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.

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.
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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.

QatarEnergy acquires 27% stake in Egypt’s offshore North Cleopatra block

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.

Kuwait shortlists bidders for 500 MW photovoltaic solar project

The Kuwait Authority for Partnership Projects has shortlisted several companies for Phase III of the Al Dibdibah solar plant, with a net capacity of 500 MW.
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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.

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.

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.
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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.

QatarEnergy seals major helium export deal with Germany’s Messer

QatarEnergy has signed a long-term contract with Messer to supply 100 million cubic feet of helium per year, strengthening Doha’s position as a key player in this strategic market.

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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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.

ACWA Power partners with Larsen & Toubro for 4 GW hydrogen complex in Yanbu

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.
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Sizewell C signs two major contracts for nuclear fuel supply
EDP secures Australian contracts for 1.7 GW solar and battery projects
Global energy demand rises by 40 million barrels of oil equivalent per day
Hydrogen injected into national grid: Centrica and National Gas reach key milestone
QIA invests $535mn to increase its stake in Colombian power producer ISAGEN

Aramco: Majority of shares in 2nd public offering sold internationally

Aramco's secondary public offering, raising $11.2 billion, attracted a majority of foreign investors, underlining international interest in the Saudi oil giant and the kingdom's economic reforms.
Aramco: Majorité des actions de la 2e offre publique vendues à l'international.

Rosneft criticizes oil production increases

Igor Sechin, CEO of Rosneft, criticizes the increase in oil production capacity, saying it could destabilize the market despite OPEC+'s reduction efforts.
Capacité production pétrole

Sinopec signs $1.1 billion contract with Saudi Aramco

Sinopec Oilfield Service has signed a $1.1 billion agreement with Saudi Aramco to build gas pipelines, strengthening Saudi Arabia's energy infrastructure.
Sinopec Saudi Aramco gaz

Climate targets exceeded despite low investment

Growth in global oil and gas investment will slow in 2024, but will remain well above the levels needed to meet climate targets by 2030, according to the International Energy Agency (IEA).
Investissements pétrole gaz climat

Aramco raises $11.2 billion in a new public offering

Saudi oil giant Aramco has raised $11.2 billion by pricing its second public offering at 27.25 rials per share.
Aramco lève 11,2 milliards de dollars avec une nouvelle offre publique.

OPEC+ Extends Blackouts: Impact on VLCC Prices and Demand

OPEC+ is maintaining its production cuts until September, causing fluctuations in crude prices and increased demand for VLCC carriers, according to experts.
Prolongation des coupures OPEC+

Aramco: New Public Offering to Finance Saudi Arabia’s Vision 2030

Aramco's new public offering is part of Prince Mohammed bin Salmane's strategy to finance the kingdom's ambitious economic reforms.
Aramco finance Vision 2030 Arabie saoudite

Qatar and Taiwan sign 27-year LNG supply agreement

QatarEnergy will supply 4 million tonnes of liquefied natural gas per year to Taiwan's CPC for 27 years, consolidating their energy partnership.
Accord GNL Qatar CPC

UAE obtains higher oil production quota from OPEC+.

OPEC+ agrees to increase the United Arab Emirates' oil production quota, allowing them to pump an additional 300,000 barrels per day from January 2025.
augmentation quota production pétrolière Émirats arabes unis

OPEC+ Announces End of Cuts, Oil Prices Plunge

OPEP+ annonce fin de réduction production pétrole

United States: Democrats call for investigation into oil collusion

Democratic senators urge the DOJ to investigate big oil's collusion to raise gas prices, accusing Scott Sheffield of being behind it.
Sénat enquête collusion compagnies pétrolières

Aramco launches share sale to finance Vision 2030

Saudi oil giant Aramco is putting $10-12 billion worth of shares up for sale, aimed at financing its Vision 2030 program and diversifying the kingdom's economy.
Aramco shares Vision 2030

Saudi Arabia cuts oil drilling after Aramco cancellation

Saudi Aramco's cancellation of its oil production capacity expansion is impacting rig rental rates in the region.
Annulation Expansion Saudi Aramco Forage

Kuwait’s Al-Zor refinery inaugurated

Kuwait inaugurates the Al-Zor refinery, increasing its refining capacity to 1.8 million barrels per day.
Capacité Raffinage Koweït

Saudi Arabia: partnership to launch onshore wind projects

Marubeni Corporation and Ajlan & Bros sign a power sales agreement with the Saudi Power Procurement Company to develop two large-scale wind power projects in Saudi Arabia.
Wind power projects in Saudi Arabia.

Middle East: renewables to overtake fossil fuels by 2040

The Middle East is embarking on a major energy transition, with renewable energies, mainly solar, set to surpass fossil fuels in electricity generation by 2040.
Renewable energy capacity in the Middle East is set to overtake fossil fuels by 2040.

Malakoff Corporation increases its renewable energy capacity

Malakoff Corporation Berhad expands its renewable energy portfolio with the acquisition of majority stakes in ZEC Solar and TJZ Suria, increasing its effective capacity to 128MW.

Kuwait accelerates oil expansion with drilling contracts

Kuwait Oil has awarded six drilling contracts to ADES Holding, to compensate for the decline in its old oil fields and expand its production capacity.

Congressional investigation into oil company collusion

The US Congress, through Democratic Representative Frank Pallone, has launched an investigation into possible collusion between oil companies to manipulate gas prices, highlighting potentially anti-competitive practices and their impact on consumers.
Collusion Compagnies Pétrolières États-Unis

TotalEnergies achieves 2GW of renewable electricity in France

TotalEnergies reaches 2GW of renewable energy capacity with the inauguration of its largest wind farm in France, marking a key milestone in its energy transition. Despite the controversy surrounding Group CEO Patrick Pouyanné.
TotalEnergies Renouvelable France
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