Larsen & Toubro’s (L&T) Power Transmission & Distribution business has secured multiple EPC orders across Saudi Arabia, the UAE and India. Projects include 380 kV transmission and substations in Saudi Arabia, 132/11 kV substations in the UAE, and transmission lines and substations in Visakhapatnam, India.
Yokogawa Electric Corporation has signed a distribution agreement with France-based BuyCo to offer its Transportation Management System (TMS) to companies, primarily in the materials sector.
Oil prices rose on Monday (October 5), supported by renewed concerns over potential disruptions to crude supplies from the Middle East. Brent crude futures gained 81 cents, or 0.79 per cent, to reach $103.06 a barrel by 2202 GMT.
UAE-based real assets investor and developer ROX Capital Group has launched the ROX Gulf Energy Storage Platform, targeting utility-scale and commercial energy storage projects in the UAE and Oman while exploring opportunities for regional assembly and manufacturing.
Oman's Gross Domestic Product (GDP) at constant prices grew 5.1% during the second quarter hitting RO9.9 billion ($25.6 billion), compared to about RO9.4 billion ($24.3 billion) for the same period in 2025, driven by a sharp increase in petroleum activity, said a report.
Russia’s oil and gas revenues are projected to fall from 3.3 per cent of GDP in 2026 to 2.7 per cent in 2029, reflecting stabilising energy prices and a declining share of the oil and gas sector in the economy, according to budget, tax and customs policy guidelines reported by TASS.
Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman reaffirmed their commitment to oil market stability. The seven producers agreed to maintain September’s required production levels for November and reiterated their commitment to full compliance with the Declaration of Cooperation.
Saudi Arabia’s Ministry of Energy has awarded Natural Gas Distribution Company a licence to construct, own and operate a natural gas distribution network in Al-Kharj Industrial City.
Saudi utility giant Acwa Power has announced the financial close of the SAR9.69 billion ($2.5 billion) Rabigh 2 IPP Expansion Project, a 2,313MW combined-cycle power plant in the kingdom’s Western Province.
The Sharjah Electricity, Water and Gas Authority (Sewa) has completed scheduled maintenance on 138 33kV substations during the first half of 2026. It has also reviewed and approved 367 engineering plans for new substation projects and electricity network development in line with approved technical standards and specifications.
