bp and the Government of the Bolivarian Republic of Venezuela have signed agreements to advance offshore gas development, including the award of an exploration and production licence for Phase 2 of the Loran field in the Plataforma Deltana area.
Venezuela signed oil-related contracts with two US companies as the government of the South American country seeks to attract investment and boost crude production, a report said.
Intersolar Middle East 2026 will bring together solar and renewable energy industry leaders in Dubai next month, with the three-day conference focusing on the region's accelerating energy transition, energy security and the growing role of solar power and energy storage.
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%.
Dubai Electricity and Water Authority (Dewa) said it is integrating sustainability measures across its infrastructure projects to help cut carbon emissions, boost resource efficiency and support the emirate’s clean energy transition as the emirate pushes ahead with its sustainability goals.
The Iraqi government approved the mechanisms for exporting Iraqi oil through specialised international and local companies and via various outlets, with contracts to be concluded for a period of three months starting September 1, 2026.
Silverwell, a developer of advanced intelligent completion technologies, has been awarded a multi-million-dollar, multi-well contract with a leading Middle East operator for the deployment of its Digital Intelligent Artificial Lift (DIAL) technology.
Oil extended gains for a fourth day in Asia trade, with Brent and WTI near three-week highs. Brent crude edged up 26 cents to around $91.28 a barrel, while US WTI crude rose 37 cents to around $85.31.
More than 1,500 global energy companies have confirmed participation in the 50th edition of Middle East Energy in Dubai this September.
Iran appears to be losing significant control over the Strait of Hormuz as commercial vessels increasingly use an Omani shipping route despite Tehran’s warnings, while US President Donald Trump has ruled out any current or planned negotiations with Iran, adding to uncertainty over the strategic waterway and pushing oil prices higher.
