Qatar

The oil and gas fishing market targets USD4.36bn by 2031, driven by offshore drilling

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 commissions Egypt’s first large-scale battery energy storage system

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 transfers 24.9% stake in OMV to its subsidiary XRG to strengthen international strategy

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.
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OPEC Cuts Forecasts but Anticipates Rising Oil Demand

OPEC slightly adjusts its production forecasts for 2025-2026 while projecting stable global demand growth, leaving OPEC+ significant room to increase supply without destabilizing global oil markets.

Drone attacks disrupt five oil fields in Iraqi Kurdistan within one week

Three new oil fields in Iraqi Kurdistan have been targeted by explosive drones, bringing the number of affected sites in this strategic region to five in one week, according to local authorities.

ACWA Power, Badeel and SAPCO to invest $8.3bn for 15,000 MW of renewables in Saudi Arabia

Three major players commit to developing five solar plants and two wind farms, with commissioning scheduled between 2027 and 2028 as part of Saudi Arabia’s national programme.
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Masdar and Iberdrola invest €5.2bn in UK offshore wind

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).

BP and Shell sign strategic agreements to revive Libya’s oil industry

BP and Shell intensify their commitments in Libya with new agreements aimed at revitalizing major oil field production, amid persistent instability but rising output in recent months.

Russia-Saudi Arabia trade increases by 60% to USD 3.8 billion

Trade between Russia and Saudi Arabia grew by over 60% in 2024 to surpass USD 3.8 billion, according to Russian Minister of Industry and Trade Anton Alikhanov, who outlined new avenues for industrial cooperation.
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OPEC+ Significantly Raises Oil Quotas with Additional 548,000 Barrels

Major oil producers accelerate their return to the market, raising their August quotas more sharply than initially expected, prompting questions about future market balances.

Madagascar signs with Global South Utilities to develop up to 250 MW solar

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.

Exxon and QatarEnergy ask US for permission to re-export LNG from October

Golden Pass LNG, jointly owned by Exxon Mobil and QatarEnergy, has asked US authorities for permission to re-export liquefied natural gas starting October 1, anticipating the imminent launch of its operations in Texas.
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Abu Dhabi Fund allocates $205mn to connect Gulf electricity grids

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.

Curve Energy Corp. signs strategic agreement with Saudi Aramco Technologies

Curve Energy Corp. has formalized a non-disclosure agreement with Saudi Aramco Technologies, allowing confidential exchanges of information as part of potential technological collaborations in the global market for low-sulfur marine fuels.

Pronur launches operations in Saudi Arabia to strengthen renewable energy solutions

Italian group Pronur establishes itself in Saudi Arabia with support from AstroLabs, aiming to provide advanced technologies in the renewable energy sector and develop new industrial partnerships.
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The drilling fluids industry will reach $10.7bn by 2032 driven by oil expansion and chemical innovations

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.

Grangemouth Closure: UK Oil Stocks at Highest Level in Three Years

The closure of the Grangemouth refinery has triggered a record increase in UK oil inventories, highlighting growing dependence on imports and an expanding deficit in domestic refining capacity.

Hormuz Threat: Producing Countries Face an Imminent Diplomatic Crisis

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.
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Keranic takes over Royal Helium and fast-tracks Steveville plant restart

Keranic Industrial Gas seals a sixty-day exclusivity deal to buy Royal Helium’s key assets, raise CAD9.5mn ($7.0mn) and bring Alberta’s Steveville plant back online in under fifteen weeks.

Seoul freezes electricity rates amid LNG supply risk concerns

South Korea abandons plans to lower electricity rates this summer, fearing disruptions in liquefied natural gas supply due to escalating geopolitical tensions in the Middle East, despite recent declines in fuel import costs.

Uganda finalizes historic agreement to build Hoima oil refinery

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.

Rubio warns Venezuela of U.S. retaliation in the event of aggression against Guyana

During a visit to Guyana, U.S. Secretary of State Marco Rubio announced that any Venezuelan attack on the territory or oil infrastructure of Guyana would trigger a military response, heightening regional tensions.

Iraq Targets Africa After U.S. Ends Waivers on Iranian Energy

Cut off from Iranian energy imports by Washington, Iraq accelerates commercial efforts in Africa while resuming oil exports through Turkey to quickly secure new economic and energy markets.
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The LNG engine market to reach $10.7 billion by 2033 driven by investment

The global liquefied natural gas engine market is expected to double by 2033, fuelled by energy diversification policies, growing refuelling infrastructure and demand for cost-effective transport solutions.

Iraq diversifies its energy sources in response to US sanctions

Under pressure from US sanctions, Iraq explores alternatives to Iranian gas to secure its electricity supply, notably turning to Qatar and Oman, while considering the installation of floating LNG terminals.

Qatar begins supplying natural gas to Syria via Jordan

Qatar has started supplying natural gas to Syria via Jordan in order to alleviate electricity shortages and support the rebuilding of the country's energy infrastructure.
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Colombia investigates speculation on gas prices imported from Qatar

Colombian President Gustavo Petro has ordered an investigation into alleged price speculation by local gas suppliers in response to price spikes reaching up to 36%, and announced a new import agreement with Qatar.

Iran Launches $17 Billion Project to Boost South Pars Gas Field Extraction

Iran invests $17 billion to counteract declining reservoir pressure at South Pars, a gas field shared with Qatar, securing estimated reserves equivalent to around 363 billion barrels of oil.

Shell forecasts a 60% increase in global LNG demand by 2040

Global demand for liquefied natural gas (LNG) is expected to rise by 60% by 2040, driven by economic growth in Asia, emissions reduction efforts in industry and transport, and the impact of artificial intelligence, according to Shell.
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South Africa: Government calls for increased oil exploration in the Orange Basin

The South African government is urging the acceleration of oil exploration in the offshore Orange Basin, shared with Namibia, to reduce the country’s energy dependence.

Suriname accelerates offshore oil exploration with strategic investments

Suriname plans to drill at least 10 offshore wells by 2026, with investments estimated at $9.5 billion, aiming to exploit significant oil reserves and attract foreign capital.

GCCIA and Qatar Fund for Development Invest $100 Million in Oman-Gulf Power Interconnection

The Gulf Cooperation Council Interconnection Authority (GCCIA) and the Qatar Fund for Development (QDF) have signed a $100 million financing agreement to connect the Gulf power grid with Oman. This strategic project, with a total cost exceeding $700 million, aims to enhance regional energy security and efficiency.
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Indian Companies Negotiate U.S. LNG to Secure Supplies

GAIL, Indian Oil, and BPCL are in talks with U.S. suppliers to purchase additional liquefied natural gas (LNG). The objective is to diversify supply sources and secure extra volumes following the lifting of U.S. export restrictions.

Taiwan considers increasing its imports of American natural gas

Amid trade tensions with the United States, Taiwan's state-owned CPC Corporation is exploring an increase in its purchases of American natural gas. This decision could reshape its supplier distribution and redefine its international energy relations.

Joseph Saddi Appointed as Minister of Energy in Lebanon: Challenges and Priorities

Joseph Saddi is the new Minister of Energy in Lebanon. He inherits a sector weakened by reliance on imports and failing infrastructure, while international partnerships struggle to restart oil and gas exploration.
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ADNOC Gas posts record $5 billion profit in 2024

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. ##

Oil and Gas M&A: A Slowdown in 2025 Despite $150 Billion in Opportunities for Rystad

After two record years of mergers and acquisitions in the oil and gas sector, upstream M&A activity is expected to slow down in 2025. Despite a deal pipeline valued at $150 billion, geopolitical tensions and restrictive fiscal policies are limiting new opportunities.

Baghdad and Erbil: the oil agreement in the background of a budget debate

Negotiations between the Kurdistan Regional Government and Baghdad officially focus on salary payments. Meanwhile, the Iraq-BP agreement to increase production in Kirkuk fuels speculation about a possible resumption of oil exports.
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ExxonMobil and Qatar Energy Relaunch Gas Exploration in Cyprus

ExxonMobil and Qatar Energy begin a strategic drilling operation off the coast of Cyprus, targeting new natural gas deposits. This initiative reflects the European Union's quest to diversify its energy supply sources.

Growing Global Gas Demand Puts Pressure on Supply in 2025

Global natural gas markets will remain tight in 2025, with rising demand meeting slower supply growth. Geopolitical tensions could further exacerbate these market pressures.