Indonesia's mandatory B50 biodiesel programme is expected to save the country around Rp170 trillion ($10.8 billion) in foreign exchange in 2026, as the government accelerates efforts to strengthen energy security and reduce reliance on imported fuel.
Kuwait Petroleum Corporation (KPC) has announced that one of its oil facilities had been hit in "repeated Iranian attacks", causing significant damage and some injuries to firefighters and oil sector workers, according to the state news agency KUNA.
A power and water desalination station in Kuwait was damaged in an Iranian attack on Saturday, triggering a fire and forcing the temporary shutdown of many units, reported state media. Several firefighters and an worker were injured while battling fires at two sites targeted in the attacks.
Global chemical leader Saudi Basic Industries Corporation (Sabic) has signed an agreement with China’s Rongsheng Petrochemical and its wholly-owned subsidiary Zhoushan to jointly advance the development of the Jintang New Materials Project in Zhoushan, Zhejiang Province, China.
Oil prices rose more than 4% at settlement on Friday, hitting their highest levels in over a month amid the ongoing Middle East conflict. Brent Crude futures surged by $3.87 (4.59%) to settle at $88.10 a barrel, while US West Texas Intermediate futures surged by 4.48% to $82.49.
Iraq and Syria have signed an agreement to rehabilitate the crude oil pipeline linking Haditha in Iraq with Baniyas in the war-ravaged country, reported the Iraqi News Agency (INA). A vital project for the region, it is likely to be implemented by US energy company Chevron.
Bahrain’s Bapco Energies and its venture arm, BeVentures, are evaluating Small Modular Reactors (SMRs) to meet growing power demands from energy-intensive industries and AI infrastructure, a report said.
The United States and Iran exchanged a fresh wave of military strikes for a sixth consecutive night, deepening fears of a wider regional conflict as Tehran prepared to expand its pressure on global energy supplies by threatening to shut another critical maritime chokepoint at the entrance to the Red Sea.
Renewable energy consultancy OWC, Korea Leading Energy Management (KLEM) and energy solutions provider OEG have signed a tripartite memorandum of understanding (MoU) to jointly deliver offshore wind balance of plant (BoP) operations and maintenance (O&M) services in South Korea.
David Latin, Chair of Serica Energy, and Yaniv Friedman, Executive Chairman of Ithaca Energy, have been appointed co-chairs of the conference and executive committee for SPE Offshore Europe 2027 (OE27), which will take place at P&J Live in Aberdeen from September 7–9, 2027.
