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

Weaponising Strait of Hormuz is economic terrorism, says ADNOC chief

Weaponising the Strait of Hormuz is an act of economic terrorism with global impact far beyond energy markets, said Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, ADNOC Managing Director and Group CEO, Chairman of Masdar and Executive Chairman of XRG....

Energy, Oil & Gas

Bahrain balances sustainability with economic growth: Minister

Bahrain continues to adopt a balanced approach that integrates environmental sustainability with economic development, said Dr Mohamed bin Mubarak Bin Daina, Minister of Oil and Environment and Special Envoy for Climate Affairs....