ACWA reported Q1 2026 results with SAR455 billon ($121 billion) asset base across 109 assets. Gross capacity reached 95.7GW, including 52.3GW renewable. Net profit fell to SAR345 million, reflecting lower development income compared with a strong Q1 2025.
Saudi-listed Acwa has signed $226 million of financing agreements for the Bash II 300 megawatts (MW) Wind Farm in Uzbekistan at the 2026 Asian Development Bank (ADB) Annual Meeting.
Indonesian President urged ASEAN nations to expand renewable energy projects and strengthen regional energy resilience, highlighting Southeast Asia’s vast solar, wind and hydropower potential alongside Indonesia’s plans to build 100 GW of solar capacity.
German Airports Association warned rising kerosene prices and supply shortages could trigger millions of flight cancellations, higher fares, reduced airport capacity, and fewer routes, with up to 20 million passengers potentially affected in 2026.
Jeju Air, Jin Air and other Korean budget airlines cut 900 round-trip flights and introduced emergency measures as Middle East tensions pushed jet fuel prices sharply higher, with further flight reductions expected in coming months.
Oil giant Saudi Aramco reported a sharp rise in first-quarter profit on Sunday, citing strong operational resilience and the ability to maintain exports despite disruptions to shipping through the Strait of Hormuz.
A Qatari liquefied natural gas (LNG) tanker was sailing toward the Strait of Hormuz on Saturday in what would be the first such transit since the outbreak of the US-Israel- Iran war, even as uncertainty persisted over peace efforts with Washington still awaiting Tehran's response to a proposal.
The UAE Ministry of Industry and Advanced Technology (MoIAT), Emirates Development Bank (EDB), and ADNOC have signed a memorandum of understanding, making ADNOC the first partner to support the UAE Cabinet's newly announced AED1 billion National Industrial Resilience Fund (NIRF).
The European Commission selected nine hydrogen projects across seven EEA countries under the European Hydrogen Bank auction. Backed by €1.09 billion ($1.3 billion) in EU funding, they aim to deliver 1.1GW electrolyser capacity, producing 1.3 million tonnes of hydrogen.
Honeywell announced that Egyptian Linear Alkyl Benzene (ELAB) Company has selected Honeywell UOP’s petrochemical licensing, technologies and engineering services to help increase normal paraffins production to support its linear alkylbenzene (LAB) facility in Egypt.
