Global energy markets faced their worst supply shock after the near-closure of the Strait of Hormuz cut flows from 20 million to 2.7 million barrels per day, driving record price spikes and prompting emergency stock releases and global supply adjustments, according to International Energy Agency (IEA).
Eni, through its joint venture Azule Energy, has taken the final investment decision (FID) on the Greater PAJ Project, a major offshore oil development in Angola’s Blocks 31 and 31/21, marking a key expansion in the country’s upstream sector.
Vision Golfe 2026 brought together more than 1,200 participants, five ministers, senior government officials and business leaders in Paris this week, reinforcing its position as the leading platform for economic cooperation between France and the Gulf Cooperation Council (GCC).
At least 13 people have been killed and 66 injured after an explosion at Qatar's largest gas facility in Ras Laffan industrial zone on Sunday night, according to the country's interior ministry. The blast occurred as workers were restarting operations that were previously halted in March.
Leading Spanish group Técnicas Reunidas has announced that it has secured two major contracts from a national oil company in the Middle East region to provide engineering, procurement, and construction (EPC) services for upstream oil and gas production facilities.
Bahrain's Electricity and Water Authority (EWA) has announced that it has received bids from two leading utility developers - Saudi Arabia's Acwa and Abu Dhabi National Energy Company (Taqa) - for the multimillion-dollar Sitra Independent Water and Power Project being set up in the kingdom on a build-own-operate model.
Fifty-four people have been injured while 18 are missing after an explosion at Qatar's core LNG processing site of Ras Laffan on Sunday, said media reports citing QatarEnergy officials. The blast happened during start-up operations due to a "technical accident" at the Barzan gas supply facility.
Oil prices surged on Monday after US President Donald Trump threatened renewed military action against Iran and warned that Washington could "take over" the Strait of Hormuz if ongoing negotiations with Tehran fail, reigniting concerns over global energy supplies.
QatarEnergy said an operational incident during the start-up of operations at Ras Laffan Industrial City triggered an explosion and fire at the Barzan local gas supply facility on the evening of June 21.
Europe will need a major expansion of carbon dioxide (CO2) transport infrastructure, including a dedicated fleet of around 65 CO2 carriers and 33 ports, to support its carbon capture, utilisation and storage (CCUS) ambitions by 2050, according to a new industry report.
