Adnoc Drilling posted record second-quarter and first-half 2026 results, with first-half revenue rising 4 per cent to $2.46 billion and net profit increasing 2 per cent to $706 million, supported by strong operational performance and cash generation.
Indian engineering and construction conglomerate Larsen & Toubro (L&T) said one of its key subsidiaries has secured a major EPC contract - in the range of Rs50 billion to Rs100 billion ($519 million to $1.03 billion) - from Kuwait Oil Company for its key Jurassic Light Oil (JLO) export facilities.
Ebara Elliott Energy (EEE) has secured one of the largest contracts in its 110-year history, winning a major order from Larsen & Toubro (L&T) to supply advanced compressor technology for a mega-scale gas infrastructure project in the Middle East.
CB&I’s Asset Solutions business has secured a well engineering services contract with Cosmo E&P Albahriya to support drilling, planning and operational activities for Offshore Block 4 in Abu Dhabi, strengthening its UAE presence.
Saudi Basic Industries Corporation (Sabic) reported revenue of SAR 24.81 billion ($6.62 billion) for the second quarter of 2026, down 5 per cent compared with the previous quarter, as the company navigated geopolitical uncertainties, supply disruptions and elevated energy costs.
Large-scale urban developments across the Gulf could generate up to 35 per cent of their electricity needs through on-site solar power while reducing costs by a similar margin, according to a new report by Boston Consulting Group (BCG).
bp and Türkiye Petrolleri Anonim Ortaklığı (TPAO) have agreed terms for TPAO to acquire a 15 per cent interest in BP Energy Company of Kirkuk (BP ECKL), strengthening cooperation on the redevelopment of major oil and gas fields in Iraq’s Kirkuk region.
US-Saudi consortium Mera Oil has entered the final stage of selecting a host location for its planned $5 billion integrated refinery and energy export corridor. Following three years of evaluation, three GCC sites outside the Strait of Hormuz have been shortlisted.
Oil prices climbed sharply on Wednesday as renewed military clashes between the United States, Saudi Arabia and Iran kept traders on edge about supply disruptions, even as Oman unveiled a Gulf-backed proposal aimed at safeguarding shipping through the Strait of Hormuz.
The Middle East moved closer to a broader regional confrontation on Wednesday as Iran launched a failed ballistic missile attack on US forces, while the United States and Saudi Arabia carried out joint airstrikes against Iran-backed militias in Iraq.
