Aramco reported a 2.3% decrease in its net profit for the third quarter, amid global economic uncertainties and an oversupply of oil, although its adjusted earnings showed a slight increase.
The SANAD drilling joint venture will resume operations with two suspended rigs, expected to restart in March and June 2026, with contract extensions equal to the suspension period.
The Chinese wind turbine manufacturer and Saudi operator sign a seven-year framework agreement to deploy local production lines and enhance technological cooperation in several strategic markets.
ACWA Power signed $10bn worth of projects and financing agreements across Central Asia, the Gulf, China and Africa, marking a new phase in its global energy expansion.
A record expansion of liquefied natural gas (LNG, gaz naturel liquéfié — GNL) capacity is reshaping global supply, with expected effects on prices, contractual flexibility and demand trajectories in importing regions.
The Franco-Saudi consortium has won a 25-year contract to develop a 400 MW photovoltaic plant in the Hail region, as part of Saudi Arabia’s national renewable energy programme.
Researchers have designed a system that combines two ammonia production technologies to reduce costs, optimise industrial efficiency and significantly cut greenhouse gas emissions.
Abunayyan Holding and US-based Nextracker launch an industrial joint venture in Riyadh to locally produce large-scale solar equipment for Saudi Arabia and the MENA region.
Baker Hughes will expand its coiled tubing drilling fleet from four to ten units in Saudi Arabia’s gas fields under a multi-year agreement with Aramco, including operational management and underbalanced drilling services.
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.
As Brent hovers near $60, growing opacity around OPEC’s output restrains a steeper decline in crude prices amid surplus warnings by the International Energy Agency.
The Oxford Energy Institute study shows that signals from weekly positions and the Brent/WTI curve now favor contrarian strategies, in a market constrained by regulation and logistics affected by international sanctions.
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The decline in imports and the rise in refining in September reduced China’s crude surplus to its lowest in eight months, opening the way for tactical buying as Brent slips below 61 dollars.
Trina Storage has introduced its new Elementa 3 energy storage system, engineered for the Gulf’s extreme conditions and aimed at boosting energy density while lowering operating costs.
Energy services provider SLB saw its net income fall by 38% year on year in Q3 2025, even as the integration of ChampionX helped lift revenue by 4% sequentially.
Talks on the Net-Zero Framework, which seeks to regulate greenhouse gas pricing on marine fuels, have been postponed until 2026 following a majority vote initiated by Saudi Arabia.
In Kuala Lumpur, Huawei Digital Power unveiled its grid-forming technologies, positioned as a strategic lever to strengthen power interconnections and accelerate energy market development across ASEAN.
Gotion High-Tech presented in Saudi Arabia a modular 20 MWh storage solution aimed at strengthening the country's energy capacity under its Vision 2030 strategy.
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.
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.
OPEC+ recorded an increase of 30,000 barrels per day in October, marked by Libya’s production surge and Kazakhstan’s reduction. Compliance remains a key challenge for the group.
In the third quarter, Halliburton reports a 20% drop in net profit, mainly impacted by a cyberattack and slowing demand in North America, its key market.
Donald Trump's election in the United States, with his open climate skepticism, could reverse American environmental commitments, jeopardizing global climate goals and increasing greenhouse gas emissions.
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.
Saudi Arabia has launched a tender for four energy storage projects totaling 2,000 MW, aiming to strengthen its storage capacity and integrate more renewable sources into its power grid.
Saudi oil giant Aramco reports a 15% drop in net profit in the third quarter, driven by falling oil prices and reduced production, adding uncertainty to the global energy market outlook.
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.
Kuwait is committed to reducing greenhouse gas emissions and achieving carbon neutrality by 2050. The plan integrates an increase in liquefied natural gas (LNG) imports, an extensive carbon capture project, and the development of electric vehicle infrastructure.
Arctech, the global leader in solar tracking and racking solutions, strengthens its position in the MEA region by supplying 2.3 GW of SkyLine II solar trackers for a major project in Saudi Arabia, in partnership with ACWA Power.
Renewable energy production costs, especially wind and solar, continue to decrease in 2024, surpassing fossil fuels in many markets, according to a report by Wood Mackenzie.
Antaisolar and Bahra Electric join forces to establish a plant in Jeddah, aiming for an annual production capacity of 24 GW by 2027, through an innovative joint-venture.
SLB, the world's leading oilfield services company, announces a significant profit increase in the third quarter despite a challenging market, while issuing cautious forecasts for the year's final quarter.
European Union leaders and Gulf countries meet in Brussels to prevent an escalation in the Middle East, addressing trade, energy, and regional stability.
JinkoSolar has signed a supply contract for 3 GW of photovoltaic modules with ACWA Power for the Haden and Al-Khushaybi projects, thereby supporting Saudi Arabia's decarbonization objectives.
As China, the world's second-largest oil consumer, may reach a peak in refined product demand by 2027, the implications for the global oil market and prices are significant.
ADES has obtained 10-year contract renewals from Saudi Aramco for two onshore rigs in Saudi Arabia, strengthening its position in the Middle Eastern energy market.
The Russian Deputy Prime Minister announces that the decision to increase oil production by OPEC+ in December remains uncertain, due to market fluctuations and global demand.
