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Saudi Arabia

Washington targets Iranian oil with new sanctions on phantom fleet

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.

Engie and Masdar secure 1.5 GW solar project in Abu Dhabi

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.

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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ExxonMobil returns to Iraq with deal on Majnoon oil field

ExxonMobil has signed a memorandum of understanding with the Iraqi government to develop the Majnoon oil field, marking its return to the country after a two-year absence.

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.

GVH and Samsung C&T seal global alliance for BWRX-300 reactors

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.
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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.

DEWA signs multiple partnerships to deploy 308 new fast-charging stations in Dubai

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.

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.
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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.

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.

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.
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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.

KKR strengthens Middle East presence with stake in ADNOC gas pipelines

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.

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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GSU met en service 50 MW solaires avec stockage à N’Djamena

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.

ShaMaran signs agreement to restart oil exports via Iraq-Türkiye pipeline

ShaMaran and several international oil companies have reached a provisional deal with Baghdad and Erbil to resume crude exports from the Kurdistan region via pipeline, after months of suspension.
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France launches public debate on radioactive waste management until February
Ignitis Group submits bid for 700 MW offshore wind tender in Lithuania
GoldenPeaks Capital and Envision sign deal for 1 GWh battery storage in Europe
Veolia and TotalEnergies sign agreement to optimise industrial resources
Rosatom begins excavation for small modular reactor project in Uzbekistan

TotalEnergies and QatarEnergy secure strategic exploration licence in Algeria

TotalEnergies and QatarEnergy have won the Ahara exploration licence, marking a new stage in their partnership with SONATRACH on a vast area located between Berkine and Illizi.

Weakened by sanctions, Iran loses influence on the global oil market

Long a major player in OPEC, Iran sees its influence on the oil market significantly reduced due to US sanctions, Israeli strikes, and increasing reliance on exports to China.

Kuwait launches tender for 1.1 GW solar power project

The Kuwait Authority for Partnership Projects has launched the tender for the 1.1 GW Al Dibdibah and Al Shagaya Phase III Zone 1 solar project, targeting pre-qualified international companies and consortia.
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Amea Power secures financing for Egypt’s first grid-scale energy storage

The Dubai-based company obtains a USD72mn loan to add a 300MWh battery system to its 500MW solar plant in Kom Ombo, with commissioning expected in July 2025.

Egypt secures 290 LNG shipments to meet summer demand

In response to rising summer electricity consumption, Egypt signs import agreements covering 290 shipments of liquefied natural gas, involving major international firms, with financial terms adjusted to the country’s economic constraints.

Nigeria struggles to secure $5 billion loan from Aramco

Oil-backed financing is weakened by falling crude prices and persistent production constraints in the country.
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Global solar tracker market reaches 111 GWdc in 2024, says Wood Mackenzie

Global photovoltaic tracker shipments rose 20% in 2024, driven by India and Saudi Arabia, pushing the United States to a less dominant market position.

JERA plans 30% US LNG share in its portfolio by 2035

Japanese giant JERA will significantly increase its reliance on US liquefied natural gas through major new contracts, reaching 30% of its supplies within roughly ten years.

U.S. LNG Exports Drive Natural Gas Prices Higher

Sustained growth in U.S. liquefied natural gas exports is leading to significant price increases projected for 2025 and 2026, as supply struggles to keep pace with steadily rising demand, according to recent forecasts.
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Shell plans additional 12 million tonnes of LNG capacity by 2030

Shell is expanding its global Liquefied Natural Gas (LNG) capacities, primarily targeting markets in Asia and North America, to meet rising demand anticipated by the end of the decade.

Two powerful financial algorithms now dictate global oil prices

According to a study published by The Oxford Institute for Energy Studies, two competing financial algorithms, Risk-Parity and Crisis Alpha, significantly influence oil markets, weakening the traditional correlation with the sector's physical fundamentals.

Adnoc Gas awards $5bn in contracts to expand gas infrastructure

Adnoc Gas commits $5bn to the first phase of its Rich Gas Development project to boost profitability and processing capacity at four strategic sites in the United Arab Emirates.
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Stargate Hydrogen opens modular electrolyser factory in Estonia

Stargate Hydrogen launches 140 MW factory in Estonia with modular expansion model amid cautious hydrogen investment climate.

Global energy investment to reach record $3.3tn in 2025, says IEA

The International Energy Agency projects a record-high global energy investment in 2025, driven by electricity and low-carbon technologies despite geopolitical and economic uncertainty.

EDF and KOWEPO win 1.5-GW Al Zarraf solar project in Abu Dhabi

EDF and Korea Western Power signed an agreement to develop a 1.5-GW solar power plant in Abu Dhabi, following a tender for which sixteen entities had been prequalified.
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AMEA Power commissions Africa’s largest wind power plant in Egypt

AMEA Power has completed the commissioning of a 500MW wind power plant in Ras Ghareb, bringing its total deployed capacity in Egypt to 1GW within six months.

Syria signs $7bn energy deal with foreign partners

Syria has signed a $7bn agreement with a consortium of companies from Qatar, Turkey and the United States to rebuild its national power sector.

Iran targeted by resolution plan after secret nuclear activities revealed

The International Atomic Energy Agency revealed that Iran conducted undeclared nuclear activities at three sites, which could lead to a non-compliance resolution by mid-June.
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ACWA Power to invest up to $10 billion in Malaysia for energy projects

Saudi-based ACWA Power has signed strategic agreements in Malaysia to develop up to 12.5 GW of energy capacity by 2040, with a potential investment of $10 billion.

Baghdad Challenges Kurdistan’s Gas Contracts with American Companies

The Iraqi federal government initiates legal proceedings against the autonomous region of Kurdistan regarding gas contracts signed with American companies, while Washington reaffirms its support for these strategic energy agreements.
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