TotalEnergies and Nextnorth have reached financial close and begun construction of a 440 MWp solar plant in Ilagan, Philippines. The project, due by 2027, will generate 13.5 TWh over 20 years.
Adnoc Drilling Company announced the completion of its transaction to acquire an 80 per cent stake of MB Petroleum Services, a drilling and oilfield services (OFS) joint venture (JV) with MB Holding Company, with operations in Oman, Kuwait, Saudi Arabia and Bahrain.
Britain introduced temporary measures allowing airlines to combine passengers onto fewer flights to cut jet fuel use, as concerns grow over potential shortages driven by supply disruptions and geopolitical tensions affecting Middle East supplies.
Seven OPEC+ countries will raise oil output targets by 188,000 barrels per day in June, the third consecutive monthly increase, OPEC+ said in a statement.
Adnoc confirmed that it is accelerating growth and delivery of its strategy with AED200 billion ($55 billion) in new project awards for 2026-2028.
Bahrain's Fuel Pricing and Monitoring Committee has announced fuel prices for the local market for May, in line with the approved pricing mechanism and reflecting global market changes.
For ADNOC’s portfolio of listed companies, the UAE’s decision to conclude its membership of OPEC and OPEC+ removes a constraint that has historically limited how investment in capacity translates into activity and earnings, said a WAM news agency report.
Dana Gas, the Middle East’s largest regional private sector natural gas company, has received an additional payment of $20 million from Egypt, with all overdue receivables now fully settled.
Oil prices extended their rally on Friday as geopolitical tensions around Strait of Hormuz remained unresolved, with both Iran and the United States showing no signs of de-escalation.
AUMA, one of the world’s leading manufacturers of electric actuators, has undergone a reorganisation at the start of 2026 with a new organisational structure and an expanded executive board to face the challenges of the future.
