Fitch Ratings has upgraded the credit rating of Energy Development Oman (EDO) to investment grade at 'BBB-', assigning a stable outlook. This action follows the agency's recent upgrade of Oman's sovereign credit rating to the same level.
Acwa Power has announced that it has signed a co-operation framework with African Development Bank (AfDB) to significantly strengthen collaboration in the development and funding of power generation and water desalination projects worth up to $5 billion across Africa.
Suhail Al Mazrouei, UAE Minister of Energy and Infrastructure, said global energy demand is witnessing steady growth driven by the expanding needs of artificial intelligence (AI) and large-scale data centres, forecasting increased demand across all energy sources, including fossil fuels, which remain part of the global energy mix. He said the UAE is well-positioned to help meet rising global demand through continued investment in the energy sector.
Abu Dhabi Future Energy Company – Masdar has announced the start of commercial operations at its battery energy storage system (BESS) facility in Stockport; the first project to be completed under Masdar’s £1 billion ($1.3 billion) commitment to invest in UK battery energy storage.
Unique Group has formed a strategic partnership with Norway-based RenOcean, a specialist in advanced subsea cutting, dredging, and seabed-intervention systems. The collaboration combines RenOcean’s precision tools with Unique Group’s global reach and engineering expertise to support operators across the full asset lifecycle, including decommissioning.
Flowserve has acquired Greenray Turbine Solutions, an OEM-certified gas turbine services provider with strong manufacturer relationships. The acquisition expands Flowserve’s engineering expertise and turbomachinery capabilities, supporting rising power demand from data centers and industrial facilities.
CECO Environmental (CECO) has secured its largest-ever order, exceeding $135 million, for a comprehensive emissions management solution. The project supports a large Texas natural gas power facility for data centre expansion, delivering ultra-low emissions and advanced acoustic and thermal performance.
Wood has secured more than $1 billion in contract wins across the Middle East in 2025, marking the second consecutive year of record sales bookings in the region. Wood has seen a near 20 per cent increase in awards compared to 2024, with wins across UAE, Iraq, Saudi Arabia, Bahrain, Kuwait, Oman and Qatar.
Action Energy Company (AEC), a leading Kuwaiti onshore drilling and oilfield services provider, has begun trading on Boursa Kuwait’s Premier Market following the completion of its private placement. It raised KD55.1 million ($180 million) from local and international investors.
A consortium led by top European utility EDF Power Solutions has signed a 20-year power purchase agreement with Oman's Nama Power and Water Procurement for the development of the 120MW Jaalan Bani Bu Ali (JBB) wind power plant in the sultanate.
