Energy disruptions from the Iran war strain Gulf oil and gas exporters, while importers like Egypt and Jordan face higher commodity prices and reduced remittances from Gulf workers, worsening economic pressures across the region, said the International Monetary Fund (IMF)....
The Gulf countries continue to consolidate their position as one of the most influential hubs in global energy markets, (with 32.7% of global oil reserves and 21.2% gas reserves) supported by a broad base of natural resources, advanced infrastructure and accumulated expertise, said a report....
Iran’s attacks on GCC countries, and the resulting closure of airspace and main shipping route, are unlikely to affect the existing ratings of state-owned companies in the region. This reflects the strong likelihood that the governments will support their key operating companies, according to Fitch Ratings. ...
GCC nations are charting a bold energy path, expanding oil and gas while ramping up decarbonisation. DNV’s report highlights hydrogen, ammonia, and carbon capture as game-changers, projecting Mena could export half of its hydrogen and ammonia output by 2060, reshaping the global energy market. ...
The Gulf Cooperation Council Interconnection Authority has announced the start of implementation of the direct electricity interconnection project linking the GCC grid with Oman’s network, marking a major step in regional energy integration and infrastructure development....
The Gulf Cooperation Council Interconnection Authority (GCCIA) and the Ministry of Electricity of the Republic of Iraq have discussed the final preparations for launching the electricity interconnection project between the two entities. ...
Adnoc Drilling has entered into definitive agreement to acquire 80 per cent of MB Petroleum Services (MBPS), one of the leading drilling and oilfield services (OFS) providers in the region with operations in Oman, Kuwait, Saudi Arabia and Bahrain....
