October 2026 (Volume: 43 / Issue: 10)
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Tag: Saudi

Energy, Oil & Gas

Desert Tech, EnerVenue to launch 215 kWh energy storage pilot in Saudi Arabia

Desert Technologies, a leading Saudi clean energy and smart infrastructure company, has signed an agreement with US energy storage technology company EnerVenue to explore the deployment of advanced energy storage solutions in the kingdom, including a 215 kilowatt-hour (kWh) energy storage pilot planned for the first quarter of 2027. ...

Energy, Oil & Gas

Sepco secures 500MW/2,000MWh Saudi BESS project contract

Shandong Electric Power Construction Corporation (Sepco) has secured the Saudi Arabia Group 1-KSB Independent Battery Energy Storage System (BESS) project, which forms part of the kingdom’s first wave of large-scale BESS projects, with a planned capacity of 500MW/2,000MWh. ...

Energy, Oil & Gas

Elsewedy Electric JV lands contract for $2.2bn Rabigh 2 IPP project

Elsewedy Electric said its joint venture with Sinohydro, a leading global contractor, has won a major contract from Al Mourjan Two for Electricity Company, to provide EPC services for the Rabigh 2 Independent Power Plant (IPP) Expansion Project, a gas-fired combined-cycle development with a total value of $2.2 billion. ...

Energy, Oil & Gas

Dalipal inks deal to set up manufacturing base in King Salman Energy Park

Dalipal Holdings, a leading Chinese manufacturer of pipes and equipment for the oil and gas sector, has signed a 25-year land lease deal with King Salman Energy Park to set up its manufacturing base at SPARK. The company is set to invest $600 million in the first phase of its major Saudi complex. ...

Energy, Oil & Gas

Saudi, UAE ink deal to boost power grid and rail links

Saudi Arabia and the UAE have signed an agreement to strengthen cooperation on electricity grid interconnection, power trading and rail connectivity, while exploring technical, economic and environmental studies and expanding regional energy links....

Energy, Oil & Gas

Saudi Arabia, Bahrain seek to deepen industrial, economic ties

Saudi Arabia and Bahrain discussed ways to strengthen industrial co-operation and deepen bilateral economic ties during talks in Manama, reported SPA. The meeting took place during Saudi Energy and Industry and Mineral Resources Minister Prince Abdulaziz bin Salman's visit to Bahrain. ...

Energy, Oil & Gas

Arabian Drilling seals $533m offshore contract with KJO

Arabian Drilling, a leading Saudi oil and gas drilling contractor, said it has signed a SAR2 billion ($528 million) deal with Khafji Joint Operations (KJO) to provide four high-specification offshore jack-up drilling rigs. This four-year contract is the largest single offshore drilling award KJO has made to Arabian Drilling....

Energy, Oil & Gas

EDF, Kepco, Acwa in race for third round of Saudi CCGT power projects

The Saudi Power Procurement Company has prequalified 13 utility project developers including global players EDF, Kepco, Mitsubishi and Sumitomo as well as regional heavyweights Acwa and Taqa for the third round of Conventional Independent Power Producer (IPP) projects based on CCGT technology. ...

Energy, Oil & Gas

Oil slips despite Saudi-Houthi escalation as supply fears ease

Oil prices fell about 1% on Friday, extending losses for a third consecutive session, even as Saudi Arabia and Yemen's Iran-backed Houthis exchanged fresh strikes and a tanker was hit in the Strait of Hormuz, with markets focusing instead on efforts to restore Saudi oil flows and alternative routes for Gulf exports....

Energy, Oil & Gas

Unigaz Arabia in deal to develop integrated Saudi gas storage plant

Saudi authorities have announced the signing of a key investment contract with Unigaz Arabia for the development of an integrated gas storage, filling and distribution plant coming up on a 200,000-sq-m site in the kingdom's Hail region, said a report. ...

Energy, Oil & Gas

Oil holds around $108 as Saudi pipeline shutdown erodes global supply buffer

Oil prices held around $108 a barrel on Wednesday, near a four-month high, as markets grappled with mounting concerns over global energy supplies following the shutdown of Saudi Arabia's East-West oil pipeline and continuing attacks on key oil and shipping routes in the Middle East....

Energy, Oil & Gas

Saudi tech firm Cashin signs deal with Syria to develop national fuel platform

Saudi technology company Cashin has signed a strategic partnership agreement with the Syrian government to help develop and operate a national digital platform for petroleum derivatives. The platform will integrate operational and financial processes across the petroleum derivatives value chain....

Energy, Oil & Gas

Harbin Electric completes key Saudi gas turbine unit installation work

Chinese group Harbin Electric International is delivering the Rumah-2 Combined-Cycle Power Plant in Saudi Arabia as part of the kingdom's efforts to advance its energy transition under Vision 2030. The company recently hoisted the Gas Turbine Unit 1 into position, thus kicking off the project's installation work. ...

Energy, Oil & Gas

Saudi economy contracts 4.8% in Q2 as oil output slumps

Saudi Arabia’s real gross domestic product contracted 4.8% year-on-year in the second quarter of 2026, said a report, as a 24.7% decline in oil activity outweighed growth in non-oil activities and government output. Non-oil activity grew 0.6% in the quarter, while government activity rose 0.9%. ...

Energy, Oil & Gas

Arabian Drilling expands GCC footprint with new offshore contract

Saudi-based Arabian Drilling has announced that it has signed a contract with a new client in the GCC, thus marking its entry into a new Gulf market. The deal follows the early completion of its first international offshore drilling contract and the redeployment of the jack-up rig to another GCC country. ...

Energy, Oil & Gas

Acwa completes work on $8.5bn green hydrogen project at NEOM

A consortium of Saudi utility giant Acwa Power and US group Air Products has completed construction work on the $8.5-billion green hydrogen project at Oxagon within Saudi Arabia’s mega futuristic city NEOM, and commercial operations are set to begin next year, said a report. ...

Energy, Oil & Gas

Acwa Power revenue soars to $1.2bn in H1; net profit plunges 28pc

Saudi utility giant Acwa Power has reported mixed first-half results, with its revenue soaring to SAR4 billion ($1.2 billion) mainly driven by higher energy sales and increased O&M services earnings, while its net profit for the six-month period fell 28% to SAR653.2 million ($174.2 million). ...

Energy, Oil & Gas

Tarshid completes energy retrofit covering 43 Madinah university buildings

Saudi energy services company Tarshid has completed the second phase of an energy efficiency retrofit project at the Islamic University of Madinah, covering 43 buildings and facilities. It involved upgrades to cooling, AC and lighting systems aimed at improving energy efficiency. ...

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