Renewable Energy Morocco steps up solar power drive to meet 2030 target Morocco is intensifying investment in solar power in the hope of hitting a target to raise the use of renewables in its energy mix to more than half. The country has set a target of 52 percent renewables by 2030 after achieving previous targets, local media reported. Newspapers said on Friday that hydrocarbon-poor Morocco has […] April 14, 2025
Renewable Energy Masdar to build floating solar plants in Indonesia Abu Dhabi Future Energy Company (Masdar) is to start building floating solar power projects this year in Indonesia, southeast Asia’s largest energy market, the company said in a statement. The UAE renewables company signed two agreements with PT PLN (Persero), Indonesia’s state-owned electricity company, during a state visit by Indonesian President Prabowo Subianto to the […] April 14, 2025
Economy Turkey says oil price under $65 will tame inflation Turkey’s finance minister Mehmet Simsek said that if the oil price remains below $65 a barrel, it will lower year-end inflation by 1 to 1.6 points this year. Responding to a Reuters question on the impact of a fall in oil prices following recent global trade measures, Simsek said persistent oil prices below $65 could […] April 14, 2025
Oil & Gas Adnoc explores bid for US natural gas assets Abu Dhabi state oil company Adnoc is in the early stages of considering a bid for Dallas-based Aethon Energy Management’s US natural gas assets, according to a person familiar with the matter. Adnoc has done a string of acquisitions in gas and chemicals, which, along with liquefied natural gas and renewables, it considers as pillars […] April 14, 2025
Oil & Gas Turkey expands African energy foothold with Somali agreement Turkey is expanding its presence in the Somali energy sector after striking a deal to conduct preliminary surveys for oil and gas deposits across the African country as it seeks to reduce its reliance on energy imports, notably from Russia. Turkish energy minister Alparslan Bayraktar and his Somali counterpart Dahir Shire Mohamed this week signed […] April 11, 2025
Opinion Oil & Gas Libya courts oil investors but risks loom large The country's long-term stability will ultimately determine investment success April 11, 2025
Economy Egypt raises fuel prices by 15% as it seeks to cut subsidies Egypt increased prices on fuel products on Friday by up to almost 15 percent, state media reported, marking the first increase in 2025. The government is trying to reduce fuel subsidies as required by the International Monetary Fund’s (IMF) $8 billion support package. The increases of between 11.76 percent and 14.81 percent on a wide […] April 11, 2025
Oil & Gas Oil prices set to drop for a second week Oil prices increased slightly on Friday morning but were still set for an overall drop for a second week due to concerns about a prolonged trade war between the United States and China. If the the world’s largest economies continue their tit-for-tat tariff increases, the fear is they will crush crude consumption as their dispute curtails economic […] April 11, 2025
Oil & Gas Saudi oil exports to China will rise in May after price fall Saudi Arabia’s crude oil supply to China will surge in May from the prior month as a sharp price cut by the kingdom attracted more demand, sources said on Friday. State oil company Saudi Aramco will ship about 48 million barrels to China in May, a tally of allocations to Chinese refiners showed, up from April’s 35.5 […] April 11, 2025
Oil & Gas Mubadala subsidiary makes first investment in US energy sector A unit of Abu Dhabi’s sovereign Mubadala Investment Company has made its first foray into the US energy sector as part of what it says is a global expansion plan, according to a statement. Mubadala Energy will acquire a 24 percent interest in SoTex HoldCo, a company that operates an unconventional gas field and is […] April 10, 2025
Oil & Gas Iraqi gas field awarded to US oilfield services giant Iraq has awarded the first phase of the much-delayed development of one of its largest gas fields to SLB, a Texas-based oilfield services company previously known as Schlumberger, according to local media. A year after it chose a little-known Ukrainian company for the project, the cabinet decided to hand over rights to develop the Akkas […] April 10, 2025
Energy Iraq signs power-generation deals with US companies Iraq has signed memoranda of understanding with two US companies to generate more than 27 gigawatts (GW) of electricity, including a giant solar power plant, according to the prime minister’s office. The electricity ministry signed the two MoUs with Massachusetts-based GE Vernova and Florida-based UGT Renewables in Baghdad on Wednesday during a visit by more […] April 10, 2025
Oil & Gas Turkey steps up oil exploration in Pakistan Energy-poor Turkey is expanding into international oil and gas exploration with a focus on Pakistan, a senior government official has said. “Turkish firms are now turning their focus to international opportunities,” Alparslan Bayraktar, the energy and natural resources minister, said in a speech in Pakistan, according to Daily Sabah newspaper. This week, state-run Turkish Petroleum […] April 10, 2025
Oil & Gas Saudi Aramco discovers 14 new oil and gas fields Saudi Aramco, the state-controlled oil major, has discovered 14 oil and natural gas fields and reservoirs in the Eastern Region and the Empty Quarter, according to Prince Abdulaziz bin Salman, the energy minister. The discoveries include six fields and two reservoirs of oil, as well as two fields and four reservoirs of natural gas, state-run SPA news […] April 10, 2025
Oil & Gas Production at Adnoc’s new offshore block set for 2027 Pakistan’s Oil and Gas Development Company Limited (OGDCL) expects to start production in Abu Dhabi’s offshore block-5 by 2027, while also increasing domestic oil and gas output and diversifying into minerals, its CEO said on Wednesday. OGDCL partnered with Abu Dhabi National Oil Company (Adnoc) in 2021 to explore and develop oil and gas resources in the block. […] April 10, 2025
Oil & Gas Oil prices retreat despite Trump’s pause on tariffs Oil prices fell on Thursday, despite early gains late on Wednesday following the announcement by Donald Trump that he would delay implementation of individual new tariffs on 75 countries for 90 days. US West Texas Intermediate (WTI) crude initially rose 4.88 percent to $62.49 a barrel following the announcement but in early trading on Thursday […] April 10, 2025
LUNCH WITH FRANK KANE Energy Ahmed Al Azkawi: ‘We are the national champion for oil and gas’ The chief executive of OQEP gives our Editor-at-Large a crash course in Omani energy past, present and future April 10, 2025
Opinion Oil & Gas Trump’s Gulf trip will test regional nerves and alliances With oil sliding and Iran talks ahead, the GCC braces for a high-stakes presidential visit April 9, 2025
Renewable Energy Chinese companies spearhead Algeria’s solar drive Algeria has broken ground on two new solar power projects over the past week as part of a drive to build 15 plants with the help of Chinese companies. The drive aims to largely expand the use of renewable energy and release oil and gas for export by the Opec producer. Renewable sources currently account […] April 9, 2025
Oil & Gas Oil demand growth to halve in wake of Trump tariffs Global growth in demand for oil this year may be as much as 40 percent less than forecast before last week’s announcement by Donald Trump of a near tripling in effective tariff rates on US imports to their highest in a century, S&P and other oil analysts have said. On average, demand for oil was […] April 9, 2025
Oil & Gas Aramco and Sinopec move ahead with petrochemical expansion Saudi Aramco says it has signed an agreement to move forward with expanding a petrochemical complex on the west coast of Saudi Arabia. The oil major, which trades on the Saudi stock exchange, has signed a venture framework agreement with China Petroleum & Chemical Corporation (Sinopec) and Yanbu Aramco Sinopec Refining Company (Yasref) to carry out engineering […] April 9, 2025
Oil & Gas Iraq offers gas site concessions amid power generation issues Iraq is offering 15 natural gas concession sites to international investors as part of a post-conflict drive to develop its hydrocarbon resources and increase production capacity, the state-owned Iraq news agency reported. Opec’s second largest oil producer is prioritising the development of its gas deposits to stop the long-standing practice of burning them off, or […] April 9, 2025
