The global demand for GCC crude oil grew at an average annual rate of 3.1% over the period 2021–2025, according to data released by GCC-STAT. GCC’s crude oil exports reached 12.2 million barrels per day in 2025, accounting for 27.3% of global crude oil exports.
Egyptian group Madkour Projects said it has secured a key contract from Oman Electricity Transmission Company, a member of Nama Group, to build a 400kV grid station at Sadaf. The contract also covers the associated 400kV LILO from the Suwaihat – Duqm Industrial Grid Station line.
QatarEnergy has signed an agreement to acquire a 25 per cent participating interest in offshore exploration licence PEL82 in Namibia from Chevron Namibia Exploration II, a Chevron subsidiary.
ADNOC Distribution reported a 37 per cent year-on-year (YoY) increase in net profit to $791 million for the first nine months of 2026, supported by higher fuel volumes, network expansion and growth in non-fuel retail operations.
The Gulf states are studying the possibility of establishing a regional water interconnection network and expanding their existing electricity interconnection system to strengthen resource security and ensure the continuity of essential services, said a top official after a utility committee meeting.
Aker Solutions has received a letter of award (LOA) from PTSC Mechanical and Construction Limited Company (PTSC M&C) for a sizeable detail design contract supporting the redevelopment of Qatar’s Maydan Mahzam offshore oil field.
Fluor Corporation has been selected by X-Energy to provide engineering, design and project management services for the Cascade Advanced Energy Facility, an advanced small modular reactor (SMR) project near Richland, Washington.
Global renewable power capacity is projected to rise by almost 4,800 GW between 2026 and 2031, up 60 per cent from the previous six-year period, as energy security concerns accelerate investment, with emerging economies outside China matching advanced markets in new capacity additions, the IEA said.
SLB's OneSubsea joint venture has secured a contract from Aker BP to supply subsea production systems, umbilicals and related services for the Lyra field development on the Norwegian Continental Shelf.
Oman's total domestic natural gas production and imports increased by 6.3 per cent to 45.31 billion cubic metres (bcm) by the end of September 2026, compared with the corresponding period last year, according to the National Centre for Statistics and Information (NCSI).
