Russia’s oil and gas revenues are projected to fall from 3.3 per cent of GDP in 2026 to 2.7 per cent in 2029, reflecting stabilising energy prices and a declining share of the oil and gas sector in the economy, according to budget, tax and customs policy guidelines reported by TASS.
Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman reaffirmed their commitment to oil market stability. The seven producers agreed to maintain September’s required production levels for November and reiterated their commitment to full compliance with the Declaration of Cooperation.
Saudi Arabia’s Ministry of Energy has awarded Natural Gas Distribution Company a licence to construct, own and operate a natural gas distribution network in Al-Kharj Industrial City.
Saudi utility giant Acwa Power has announced the financial close of the SAR9.69 billion ($2.5 billion) Rabigh 2 IPP Expansion Project, a 2,313MW combined-cycle power plant in the kingdom’s Western Province.
The Sharjah Electricity, Water and Gas Authority (Sewa) has completed scheduled maintenance on 138 33kV substations during the first half of 2026. It has also reviewed and approved 367 engineering plans for new substation projects and electricity network development in line with approved technical standards and specifications.
China Eleventh Chemical Construction Company has secured two construction packages for an independent power project, being set up at an investment of $910 million within the Special Economic Zone at Duqm, Oman. The project scope includes ground works, monitoring and lighting installations.
Eni has signed an agreement with Italian deep-tech company Generative Bionics to explore potential technological and industrialative Bionics’ expertise in humanoid robotic systems, including its GENE.01 platform.
Canrig is preparing to introduce its Canrig Titan automated wrench to the Eastern Hemisphere in early 2027, expanding access to a field-proven connection solution designed to improve consistency, safety and efficiency in tubular make-up operations.
Some 135 speakers, including ministers, business leaders, government officials, decision-makers, experts and innovators from around the world will speak at the 12th World Green Economy Summit (WGES).
UAE has signed a trilateral Memorandum of Understanding (MoU) with Kazakhstan and Uzbekistan to cooperate on the Central Asia–South Asia railway project.
