Saudi mining company Almasane Alkobra Mining Company (AMAK) said it has completed the incorporation of a wholly owned drilling and exploration services subsidiary, marking a further step in expanding its mining support capabilities.
The UAE Fuel Price Committee has approved fuel prices for June 2026, with diesel prices recording a decline compared to the previous month, in a move that supports the stability of key sectors, particularly logistics and supply chains.
The United States has announced new sanctions on Iranian oil and petrochemical networks, the latest move in its 'maximum pressure' strategy to curb the country's key sources of income and limit funding for its military operations, said a report.
Global energy investment is expected to reach $3.4 trillion in 2026, with $2.2 trillion going to low-emissions and grid technologies and $1.2 trillion to fossil fuels, according to the IEA report.
Eni and its partners Petroci and Vitol have approved the final investment decision (FID) for the Baleine Phase 3 project in Abidjan, Côte d’Ivoire, marking a milestone in the development of the largest hydrocarbon discovery ever made in the country.
Aramco and Petronas signed an agreement for Petronas to acquire Aramco’s equity stakes in Pengerang Refining Company and Pengerang Petrochemical Company (PRefChem), located within the Pengerang Integrated Complex in Johor, Malaysia.
China’s installed power-generation capacity rose 14.2 per cent year-on-year to 3.99 billion kW by April-end, led by strong renewable growth, with solar capacity jumping 26.2 per cent to 1.25 billion kW and wind power increasing 22 per cent to 660 million kW.
ZOE Energy Storage has signed a joint venture with a Saudi partner to build the country's first world-class battery energy storage system manufacturing facility.
Two liquefied natural gas tankers passed through the Strait of Hormuz on Monday ( May 25) heading to route to Pakistan and China, while a supertanker carrying Iraqi crude for China departed the Gulf on Saturday after being stranded for nearly three months, according to shipping data cited by Reuters.
Seven leading producers in the Opec+ are likely to agree to a modest increase in July oil output when they meet on June 7, despite ongoing supply disruptions linked to the Iran war, four sources told Reuters.
