Analysis Oil & Gas Gulf oil investment ‘can weather price slump’ International oil prices may have fallen to their lowest in four years but that is unlikely to disrupt the exploration and production investment plans of Gulf national oil producers, energy analysts have said. But Middle East and North Africa producers outside the GCC may not be so lucky. Crude oil fell below $60 a barrel […] April 29, 2025
Adnoc to raise $1.5bn with Islamic bonds Abu Dhabi state oil giant Adnoc will raise $1.5 billion from a debut sale of Islamic bonds, or sukuk, according to a document seen by Reuters on Monday. Abu Dhabi National Oil Company, acting through its primary debt capital markets entity Adnoc Murban, is selling the sukuk at 60 basis points over US Treasuries, the […] April 29, 2025
Renewable Energy Equipment and workforce key for Saudi renewables Nacelles and blades, battery energy storage systems (BESS) and high voltage direct current (HVDC) cables, solar modules and wafers. A surge in large-scale renewable projects – such as the 2GW Al Shuaibah 2 solar project and 1.5GW Dawadmi wind farm – means the kingdom needs to secure equipment and expertise if it is to come […] April 29, 2025
Renewable Energy Oman to build 400km hydrogen pipeline network Oman’s natural gas network operator OQ Gas Networks (OQGN) is planning to build a dedicated hydrogen pipeline by 2030, in line with a strategy to develop the sultanate’s renewables sector. The funding approval for the 300-400 kilometre project is expected by 2027, Oman Daily Observer reported, citing the majority state-owned company’s 2024 annual report. OQGN […] April 28, 2025
Renewable Energy Iraq imports 126,000 solar panels for ‘Sun of Basra’ project Iraq has imported more than 126,000 solar panels for its largest solar power park being built by France’s TotalEnergies, electricity minister Ziad Fadhil has said. Dubbed “Sun of Basra”, the project is part of a $27 billion contract and will generate at least 1,000 megawatts (MW) of electricity that will benefit 250,000 houses. The project […] April 25, 2025
Oil & Gas Morocco invites bids to build its first LNG plant Morocco has invited companies to bid to build the country’s first liquefied natural gas (LNG) terminal as it seeks to diversify its sources of fuel, Morocco World News reported. A gas pipeline will also be built to link the terminal at Nador West Med Port on Morocco’s Mediterranean coast to the Maghreb Europe Gas Pipeline, […] April 25, 2025
Energy Lebanon receives $250m World Bank loan to ease power problems The World Bank has granted Lebanon a $250 million loan aimed at helping to alleviate persistent power cuts worsened by last year’s war between Israel and Hezbollah, the country’s finance ministry said on Thursday. Even before the conflict, Lebanon had for years been struggling with a severe shortage of imported fuel and poor infrastructure. Following the conflict, however, […] April 24, 2025
Trade New oil refineries in India among Saudi trade deals Saudi Arabia and India have strengthened their trade partnership in the areas of energy, defence, tourism and culture following a visit by Indian prime minister Narendra Modi this week. Energy sector agreements include plans for two new oil refineries in India and collaboration on petrochemicals, electricity, renewable energy and climate policy, Bloomberg reported. The countries, […] April 24, 2025
Oil & Gas Opec+ to consider further oil output increase for June Several Opec+ members are to suggest the group accelerates oil output hikes in June for a second consecutive month, as a dispute worsens between members over compliance with production quotas. Oil prices hit a four-year low in April, dragged down by a US-China trade war and an unexpected decision by Opec+ to increase output by 411,000 barrels per day […] April 24, 2025
Oil & Gas Morocco and Nigeria agree terms for $25bn gas pipeline Morocco and Nigeria have agreed to create a joint venture to manage a long-planned $25 billion pipeline which will ship gas to Europe, a Moroccan minister has said. Leila Benali, minister of energy transition and sustainable development, told Morocco’s parliament that a floating gas storage terminal would also be installed at Nador on the Mediterranean […] April 24, 2025
Opinion Oil & Gas Oil markets are vulnerable to Trump’s turbulence The only factor the sector is certain about is that uncertainty will continue April 23, 2025
Energy Duqm refinery fuels $6.5bn growth in Oman’s oil exports Oman’s hydrocarbon exports swelled by nearly $6.5 billion last year due to a surge in sales of refined products following the commissioning of the sultanate’s largest oil refinery. The Gulf country’s hydrocarbon exports surged from OR13.8 billion ($35.8 billion) in 2023 by nearly 18 percent to OR16.3 billion ($42.4 billion) in 2024. Crude exports edged […] April 23, 2025
Energy Gulf share of India oil market slides on Russia gains India’s pivot toward discounted Russian crude oil has accelerated, eroding the dominance of traditional Middle Eastern suppliers in one of the world’s fastest-growing oil markets. In the Indian fiscal year ending March 31, Russia retained its position as India’s top oil supplier for a third year in row, Reuters reported, based on ship tracking data […] April 23, 2025
Analysis Energy UAE and Saudi Arabia target India and EU electricity exports Saudi Arabia and the UAE are advancing plans to increase their electricity exports, taking advantage of spare generating capacity after surging investment in solar and wind power and seasonal fluctuation in demand. “The UAE, with around 50 percent spare capacity generation, is among the best-positioned countries to become an exporter of electricity,” Adnan Al Hosani, […] April 23, 2025
Oil & Gas Saudi crude oil exports rise to 6.5m barrels per day Saudi Arabia’s crude oil exports in February rose to 6.55 million barrels per day (bpd) from 6.07 million bpd in January, official data showed on Tuesday. The world’s largest oil exporter’s crude output for February was at 8.95 million bpd, up from 8.92 million bpd in January. Saudi refineries’ crude throughput was at 2.62 million bpd […] April 23, 2025
Opinion Oil & Gas Despite Trump, China still has a big thirst for Gulf oil Gulf suppliers are taking immediate advantage of Washington’s hardline trade posture April 22, 2025
Oil & Gas Iraq to cut oil spending after fall in crude prices Iraq is seeking to cut operational spending on oil projects while trying to maintain investment in increasing crude production, following a steep fall in prices, the official news agency reported on Tuesday. Prime Minister Mohammed Shia al-Sudani sent a letter to the oil ministry and state-owned oil companies asking them to reduce spending on projects […] April 22, 2025
Utilities Foreign companies cash in as Gulf turns to smart power grids Saudi Arabia and the UAE are among the Gulf states investing billions to make their electricity grids “smart” using artificial intelligence – and increase their share of generation from solar and wind power. That share is expected to almost double in the Middle East and North Africa over the next five years. It will rise […] April 22, 2025
Energy Saudi Arabia and China to advance nuclear cooperation Barely a week after a deal on cooperation with the US, Saudi Arabia and China have agreed to work more closely on nuclear energy development, China’s state-run Global Times reported. The two countries signed a memorandum of understanding at a China-Gulf Cooperation Council forum on nuclear technology in Chengdu on Monday. The agreement comes after […] April 22, 2025
Oil & Gas Adnoc strikes another LNG deal with Chinese energy major China National Offshore Oil Corporation (Cnooc) has agreed a term deal to buy liquefied natural gas from Abu Dhabi National Oil Company (Adnoc), according to two Chinese trading sources and a state media report. It is the third supply contract Adnoc has signed with Chinese buyers recently, following the deals over the weekend with ENN […] April 22, 2025
Finance World Bank loans Oman $310m for economic diversification Loans totalling $310 million to support Oman’s economic diversification plans have been agreed by the International Finance Corporation (IFC), a part of the World Bank Group that seeks to encourage private sector development in less developed markets. The loans, arranged by the Omani Ministry of Finance, are to support three Omani companies, with a particular […] April 21, 2025
Oil & Gas Chinese energy companies sign LNG deals with Adnoc China’s privately controlled ENN Natural Gas and state-run Zhenhua Oil have each signed deals to buy liquefied natural gas from Abu Dhabi National Oil Company (Adnoc). ENN Natural Gas said on its official WeChat account on Saturday that the deal covers annual supplies of about 1 million metric tonnes for 15 years, marking Adnoc’s largest LNG […] April 21, 2025
