The expansion of the global oil and gas fishing market is accelerating on the back of offshore projects, with annual growth estimated at 5.7% according to The Insight Partners.
AMEA Power has commissioned a 300 MWh battery energy storage system in Egypt, a first for the country, extending the Aswan solar site’s activity and consolidating its presence in the African market.
ADNOC announces the transfer of 24.9% of its shares in OMV to its subsidiary XRG, continuing the streamlining of its international assets and preparing the creation of Borouge Group International.
Masdar and Iberdrola announce a joint investment of €5.2 billion in the East Anglia THREE offshore wind farm in the United Kingdom and full commissioning of the German Baltic Eagle project (476 MW).
The Emirati company Global South Utilities plans to install up to 250 MW of solar capacity in Madagascar, a project aimed at strengthening the national electricity network heavily reliant on fossil fuels and frequently facing energy deficits.
The Abu Dhabi Fund for Development has granted AED752mn ($205mn) financing to the Gulf Interconnection Authority to connect the electricity grids of the United Arab Emirates and Saudi Arabia, enhancing regional energy exchange.
The increase in oil drilling, deepwater exploration, and chemical advances are expected to raise the global drilling fluids market to $10.7bn by 2032, according to Meticulous Research.
The potential closure of the Strait of Hormuz places Gulf producers under intense pressure, highlighting their diplomatic and logistical limitations as a blockage threatens 20 million daily barrels of hydrocarbons destined for global markets.
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.
Masdar and Samruk-Kazyna are collaborating to develop renewable energy and storage projects in Kazakhstan, targeting 500 MW of baseload energy and up to 2 GW of storage capacity.
EDF will enter the capital of the Volobe hydropower project in Madagascar, an investment estimated at over 500 million euros. The construction of the dam in Tamatave is planned for commissioning in 2030.
After several years of negotiations, Uganda officially signs an agreement to establish the Hoima oil refinery, a central project in the country's energy strategy aimed at reducing dependency on fuel imports.
The Watt For Change Foundation and the French Development Agency are joining forces to support three initiatives aimed at improving access to renewable energy in Benin, Mauritania, and Madagascar. A €860,000 three-year partnership dedicated to assisting local associations.
ADNOC Gas reports a net profit of $5 billion in 2024, marking a 13% year-on-year growth. The company strengthens its position with adjusted revenues of $24.43 billion and plans strategic investments through 2029. ##
Masdar and SOCAR Green have closed the financing for two solar parks with a total capacity of 760 MW in Azerbaijan, a strategic project valued at USD 600 million and supported by multiple international financial institutions.
Despite growing calls to reduce hydrocarbon production, a report by the NGO Urgewald reveals that the oil and gas industry has invested an average of $61.1 billion annually in exploration over the past three years.
As COP29 approaches in Azerbaijan, tensions emerge as climate ambitions clash with economic realities, and vulnerable nations express growing impatience.
Masdar and EMSTEEL, based in Abu Dhabi, conduct a pilot project to produce steel using green hydrogen, aiming to reduce the carbon footprint of the steel industry in a region where heavy industry is essential.
Under pressure from falling prices, OPEC+ decided to extend the production cut by 2.2 million barrels per day until December 2024 to maintain market balance.
ADNOC acquires 35% of a hydrogen plant in Texas from Exxon Mobil, aiming to produce blue hydrogen to decarbonize heavy industries and meet growing global demand.
Russia extends export duty exemption for thermal coal until December.
Despite this measure, logistical restrictions and sanctions continue to hold back global demand.
Algeria joins the New BRICS Development Bank, seeking to diversify its sources of financing and strengthen its position on the international financial scene.
Masdar and Infinity Power sign a PPA with the Egyptian Electricity Transmission Company to build a 200 MW wind farm in Ras Ghareb, consolidating Egypt's energy supply.
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.
AMEA Power and Ethiopian Electric Power join forces to develop a 300 MW wind farm in Ethiopia, a strategic step forward in Africa's renewable energy sector.
Cepsa announces the sale of its liquefied gas division in Spain and Portugal to Empresas Copec for 275 million euros, continuing its strategy of refocusing on low-carbon energies.
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.
Adani Energy Solutions raises $1 billion via an institutional placement, attracting US investors and sovereign wealth funds, marking a notable return to the financial markets.
The United Arab Emirates is becoming a major player in the International Renewable Energy Certificate (I-REC) market, thanks to a significant rise in nuclear production and increased adoption of corporate sustainability goals.
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.
Masdar and TotalEnergies are collaborating to transform green hydrogen into methanol and sustainable aviation fuel (SAF) in Abu Dhabi, aiming to decarbonize the aviation and shipping sectors.
