Oil prices surged on Monday after US President Donald Trump threatened renewed military action against Iran and warned that Washington could "take over" the Strait of Hormuz if ongoing negotiations with Tehran fail, reigniting concerns over global energy supplies....
Opec’s World Oil Outlook 2026 projects global energy demand to rise 23 per cent by 2050, with oil reaching 124 mb/d. It highlights the need for diverse energy sources, expanded access, and sustained investment to balance growth, sustainability and affordability....
Wood has secured a five-year Long-Term Agreement with Aramco, extendable by three years, to provide engineering, design and project management services for oil, gas, refining, petrochemical and lower-carbon hydrogen projects in Saudi Arabia....
Egypt and the UAE have discussed expanding energy cooperation, focusing on increased Emirati investment in petroleum, aviation fuel, and exploration activities, alongside plans to establish a joint working group to advance sector opportunities....
Saudi Arabia and South Korea signed an MoU to expand oil and gas cooperation, covering petroleum, petrochemicals, crude storage, pipeline infrastructure, technology, and sustainability initiatives, as the two countries seek to strengthen energy security and investment ties. ...
Freudenberg Group has expanded its energy portfolio by acquiring Balmoral Comtec, strengthening its Flow Technologies business in sealing and connector systems for global energy markets spanning offshore oil, gas and renewables industries worldwide....
The Saudi Arabia Ministry of Energy announced the winning bidders for eight licenses covering the establishment, development, operation, and maintenance of liquefied petroleum gas (LPG) filling and storage facilities, as well as the wholesale distribution of LPG to consumers....
Italy will spend almost €60 billion ($69 billion) this year to import energy, up €8-9 billion from 2025, the national fuel producers association UNEM said....
Saipem has announced that its joint venture with Nasser Saeed Al Hajri has secured a key engineering, procurement and construction services contract worth €900 million ($1.03 billion) for the Uthmaniyah Gas Compression Plant in the Kingdom of Saudi Arabia. The entire work will be completed within 42 months. ...
Indian construction and engineering conglomerate Larsen and Toubro (L&T) has secured a major contract worth KD303.5 million ($992 million) from Kuwait Oil Company for the construction of export crude storage facilities as well as providing key upgrades to its key energy infrastructure. ...
The disruption to shipping through Strait of Hormuz is not just energy shock, but a whole economy story; and while direct damage to energy infrastructure exceeds $60 billion, lost revenue and trade loss will be above $150 billion, Crescent Petroleum CEO has said....
Venezuela will host its largest international energy investment summit from October 26–29 in Caracas, bringing together US, Venezuelan and international oil companies, investors, financiers and technical service providers to advance near-term investment opportunities across the country’s reopening energy sector....
ATPI Energy has secured contracts valued at more than $50 million over the past four months, strengthening its role as a travel management partner within the global energy sector....
Bapco Energies has announced the launch of the NBH Future Energy Leaders – Scholarship and Career Development Programme, a national initiative aimed at nurturing Bahraini talent in the energy sector....
Global energy investment is expected to reach $3.4 trillion in 2026, with $2.2 trillion going to low-emissions and grid technologies and $1.2 trillion to fossil fuels, according to the IEA report....
ADNOC remained committed to its $150 billion five-year capital expenditure (CAPEX) programme, said Dr Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology. He sought an absolute commitment to freedom of navigation through the Strait of Hormuz to to enhance global energy resilience....
Oman Petroleum & Energy Show and Oman Sustainability Week opened on May 18, 2026 at Oman Convention and Exhibition Centre, convening global energy leaders, policymakers, investors, and sustainability experts....
The UAE's energy major ADNOC has announced two strategic collaboration agreements with Indian partners, reinforcing the strong and expanding UAE‑India energy partnership....
Ludoil Capital, a wholly-owned subsidiary of Ludoil Energy, has signed a Sale and Purchase Agreement with GOI Energy to acquire its equity stake in ISAB, owner of the Priolo Gargallo refinery and related industrial, logistics and energy infrastructure in Sicily....
Africa’s energy transition must be guided by realism, technological innovation, and sustained investment rather than abrupt shifts away from fossil fuels, according to energy expert Profv Bart Nnaji Chief Executive Officer, Geometric Power and former Nigerian Minister of Power....
