Energy Adnoc says UAE and US to invest $440bn in energy The UAE and US will spend a combined total of $440 billion in the energy sector by 2035, the head of Abu Dhabi National Oil Company (Adnoc) has said. The US is expected to invest $60 billion in UAE energy projects, a panel at the UAE-US economic dialogue said during US President Donald Trump’s visit […] May 16, 2025
Energy Adnoc seeks EU approval for Covestro deal Abu Dhabi state oil company Adnoc on Thursday sought EU approval under the bloc’s foreign subsidies rules for its €14.7 billion ($16.4 billion) acquisition of German chemicals company Covestro, according to a filing on the European Commission site. Adnoc, which last week won the green light under EU merger rules for the deal, is making its biggest […] May 16, 2025
Oil & Gas Kuwait to invest up to $50bn in five-year oil expansion plan Kuwait plans to pump as much as $50 billion into projects to expand its oil production capacity to more than 3 million barrels per day (bpd) over the next five years, a senior Kuwaiti oil official said. The investments are part of an even longer term plan to lift the Gulf emirate’s crude output capacity […] May 16, 2025
Oil & Gas Qatari minister says oil price could put companies out of business Many oil producing companies could be forced out of the market if crude prices remain below $70 a barrel for a long time, according to Qatar’s energy minister. Saad Al-Kaabi told CNBC, the US cable TV news network, that oil prices of $70 to $85 per barrel are reasonable for producing countries to get enough […] May 15, 2025
Oil & Gas Qatar risks losing out to US in Japan LNG sales Liquefied natural gas customers in Japan may be turning away from Qatar for their additional needs in favour of the US. American suppliers offer more flexible contractual terms and are adding production capacity, a Japanese government energy official said. “Qatar is very strict,” said Yarita Masataka, director of the LNG and methane management division at […] May 15, 2025
Editor's Insight Energy Oman and its foreign energy partners The cameras were in Riyadh but the oilpeople were in Muscat. As our colleague Saleh Al-Shaibany has noted, Oman was not on the itinerary of the 47th US president, although the sultanate has been hosting the US Iran nuclear talks. Trump was missing something. There at the Convention and Exhibition Centre was Baker Hughes, there was Halliburton […] May 15, 2025
Renewable Energy Morocco reports growth in power production A surge in investment has boosted Morocco’s power generation by nearly 5 percent over the past four years as the North African nation pushed ahead with an electricity expansion strategy to higher demand, according to its energy minister. In early 2025, Morocco produced nearly 12 gigawatts (GW) of electricity, including around 5.4GW of renewable energy, […] May 15, 2025
Oil & Gas Taqa profit falls as oil and gas earnings take a hit Abu Dhabi National Energy Company (Taqa) said earnings fell in the first quarter of 2025 amid commodity market volatility and a fall in oil and gas production. Net profit declined by 1.5 percent year on year to AED2 billion ($572 million) in the quarter ended March 31, 2025, the company said in a statement to the […] May 15, 2025
Oil & Gas Abu Dhabi’s XRG buys stake in Turkmenistan gas block XRG, the low-carbon energy and chemicals investment arm of Abu Dhabi National Oil Company (Adnoc), has entered the Central Asian market with an investment in Turkmenistan’s gas and condensate fields. XRG will hold a 38 percent stake in the offshore “Block I” concession, the company said in a statement. Malaysian state-owned oil company Petronas and Turkmenistan state […] May 15, 2025
Oil & Gas Qatar’s investment in US tops $30bn, says minister Qatar has invested more than $30 billion in various projects in the US, the country’s energy minister has said. Saad Al-Kaabi said that the Doha government’s investment is mostly in the Golden Pass LNG project in Texas, which is 70 percent owned by QatarEnergy and 30 percent by ExxonMobil, CNBC Arabia reported. US President Donald Trump […] May 15, 2025
Energy Final decision to be made on Morocco-Nigeria gas pipeline A final investment decision on the $25 billion Morocco-Nigeria gas pipeline will be taken by the end of 2025, a Moroccan minister has confirmed. A special purpose company is being created to oversee the project’s implementation, Morocco World News reported, citing Leila Benali, minister of energy transition and sustainable development, as saying in Morocco’s parliament. […] May 15, 2025
Oil & Gas Opec expects slower 2025 oil supply growth from rivals Opec on Wednesday trimmed its forecast for growth in oil supply from the United States and other producers outside the wider Opec+ group this year and said it expected lower capital spending following a decline in oil prices. Supply from countries outside the Declaration of Cooperation – the formal name for Opec+ – will rise […] May 14, 2025
Employment OQEP deals are part of Omani job creation drive Oman’s OQ Exploration and Production (OQEP) has signed four contracts worth $53 million with local companies to help create jobs for Omani nationals. The contracts include oil field operations, construction facility and rig drilling, as part of OQEP’s in-country value (ICV) programme. “These agreements not only create new business opportunities for Omani enterprises but also […] May 14, 2025
Oil & Gas Aramco explores stake in $18bn LNG project in US Saudi Aramco is considering buying a stake in Australia-based Woodside Energy’s liquefied natural gas (LNG) project in the US. The two companies signed a non-binding agreement to explore the stake buyout and LNG offtake from the $17.5 billion Louisiana LNG project, Woodside said in a statement on Wednesday. The collaboration agreement was signed in Riyadh […] May 14, 2025
Oil & Gas Aramco CEO Amin Nasser expects oil demand to hold ‘steady’ Saudi Aramco expects demand for oil to be higher this year than in 2024 and to hold “steady”, its CEO has said. Banks and international agencies have downgraded their forecasts for oil demand and prices in response to heightened trade tensions since April 2. But Aramco’s Amin Nasser said on an earnings call on Monday: […] May 13, 2025
Opinion Energy Nuclear power is a hot-button issue for Trump’s Gulf visit Nuclear power has been very helpful in driving rapid decarbonisation of the UAE’s electricity sector May 13, 2025
Renewable Energy Oman Centre for Net Zero signs agreements worth $2bn Oman’s energy major OQ has formed a new company called Oman Centre for Net Zero and signed 13 separate renewable-energy agreements worth $2 billion. The agreements were signed during the three-day events of Oman Sustainable Week 2025 Exhibition in Muscat by OQ Group’s CEO Ashra al Mamari and Najla al Jamali, CEO of OQ Alternative […] May 13, 2025
Energy Dewa Q1 2025 profit falls despite revenue rise Net profit at the Dubai Electricity and Water Authority (Dewa) fell by about a quarter in the first three months of 2025 despite a rise in revenue. Net profit reached AED497.8 million in the first quarter, a drop of 23 percent year on year, according to Dewa’s consolidated interim financial report. Revenue rose 3 percent year […] May 13, 2025
Analysis Oil & Gas Gulf ready for high-energy talks with Trump Security, technology transfer and inward investment into the US may dominate the headlines but Gulf leaders meeting President Donald Trump this week are also likely to raise a raft of more humdrum energy issues. For Trump, who makes the first state visit of his second presidency from May 13 to 16, cheaper gasoline at the […] May 13, 2025
Opinion Development State first, market later for Algeria’s economic vision A firm social contract shapes the path of national development May 12, 2025
Renewable Energy China to build large solar power plant in Kuwait China has won a contract to build a large solar power park at the Shagaya renewable energy complex in the heart of the Kuwaiti desert. The facility will allow the Gulf state to increase renewables’ share of its energy mix to more than a quarter, a Kuwaiti minister said. The unnamed Chinese government company has […] May 12, 2025
Oil & Gas Egypt clears $1.2bn in dues to foreign oil companies Egypt has reportedly paid $1.2 billion this month to foreign oil companies to settle part of its overdue debts. Total arrears to foreign oil companies operating in oil and gas exploration and extraction has reached $7.5 billion, up from $6.3 billion at the beginning of April, an unnamed government official told Asharq Business, an Arabic […] May 12, 2025
