For the sixth consecutive year, Sabic earned Edison Awards across multiple categories. This year, it won in material science, energy and climate resiliency, and water, food and agriculture for five innovative solutions.
The European Union (EU) will urge members to cut their dependence on Middle Eastern jet fuel and look into increasing imports from the US, in new guidelines expected next week, an official source told Reuters, as the Iran war disrupts global supply.
Energy disruptions from the Iran war strain Gulf oil and gas exporters, while importers like Egypt and Jordan face higher commodity prices and reduced remittances from Gulf workers, worsening economic pressures across the region, said the International Monetary Fund (IMF).
Saudi Energy said it has signed a SAR11.5 billion ($3.1 billion) agreement with Saudi Power Procurement Company (SPPC) for the Rabigh 2 IPP project located in Makkah province, which on completion will boast a large-scale CCGT power plant with 2,313.5 MW generation capacity.
Fugro commissioned its new remotely operated vehicle (ROV) test pool in Singapore. The facility represents a milestone in improving technical assurance and reducing execution risk across marine and offshore projects.
INTECH secured a contract for the design, engineering, procurement, integration, and testing of multi-wellhead shutdown systems for gas modular skids for a leading NOC in the Middle East.
Sulzer has signed a joint venture with Jawaby Services & Investments (JSIL), a wholly owned subsidiary of Libya’s National Oil Corporation (NOC), to provide rotating equipment services in Libya.
Subsidised fuel prices in Indonesia will remain unchanged through the end of 2026, Energy and Mineral Resources Minister Bahlil Lahadalia said.
Turkmenistan and China have begun expanding the giant Galkynysh gas field. The country, with vast reserves, exports most gas to China. Located in the Karakum desert, Galkynysh is the world’s second-largest field, with work led by CNPC
The US has authorised operations involving the sale, delivery, or offloading of crude oil and petroleum products of Russian origin loaded onto tankers, according to a general license published on the website of the Office of Foreign Assets Control (OFAC) of the US Treasury Department.
