Abu Dhabi National Energy Company (TAQA) has confirmed that operations across its UAE entities remain normal.
Mitsubishi Heavy Industries Compressor Corporation (MCO), a part of Mitsubishi Heavy Industries (MHI) Group, has acquired all shares of AST Turbo (AST), a Swiss company specialising in rotating equipment maintenance services.
US President Donald Trump has said the US navy will protect ships in the Middle East and the government will provide insurance "if necessary" in a bid to contain soaring energy prices sparked by the US-Israel war with Iran.
Saudi utility major Acwa has reported solid results for FY 2025 with its revenue soaring to hit SAR7.41 billion ($1.97 billion) and its net profit recording a 60% growth over the previous year as higher operating income and stronger contributions from operating assets lifted earnings.
Further to the announcement by QatarEnergy to stop production of liquefied natural gas (LNG) and associated products, QatarEnergy has declared force majeure to its affected buyers.
Saudi Arabia said on Wednesday that an attempted drone strike targeted the Ras Tanura Refinery, the Kingdom’s largest oil processing facility, but caused no damage and did not disrupt supplies.
An oil tanker sailed through the Strait of Hormuz on Tuesday, heading to a United Arab Emirates port to load crude in a rare voyage since the Iran war severely disrupted shipping in the Middle East, according to industry sources and ship-tracking data quoted by Reuters.
Saudi Basic Industries Corporation (Sabic), has reported a net adjusted income of SAR2.1 billion ($560 million) for 2025, as annual revenue reached SAR116.5 billion ($31 billion). A key highlight was the global petchem leader's brand value exceeding the $5 billion threshold for the first time hitting $5.19 billion.
Crude oil supplies from Iraq and Kuwait could start shutting in within days if the Strait of Hormuz remains closed, potentially cutting 3.3 million barrels per day (bpd) by day eight of the Middle East conflict, JP Morgan analysts said in a note.
Saudi Energy reported robust 2025 results, achieving SAR 102.2 billion ($27 billion) in revenues, a 15.3 per cent increase from 2024, demonstrating strong financial and operational performance alongside sustainable earnings growth.
