Oil prices continued to climb on Thursday with no sign of easing, as markets priced in a prolonged supply squeeze from the Middle East following stalled negotiations and firm signals from Donald Trump that the blockade on Iran will remain in place.
Dubai Electricity and Water Authority (Dewa) has announced that it has set a new world record for the lowest electricity customer minutes lost (CML), at just 0.82 minutes (about 49 seconds) per year. With this, the Dubai utility has surpassed its own previous world record of 0.94 minutes in 2024.
Direct Travel has expanded its Avenir platform across Energy, Marine, and Mining divisions via ATPI, offering a unified global model for executive and project travel that complements existing specialist workforce and logistics solutions.
Gulf Petrochemicals and Chemicals Association (GPCA) signed an MoU with IRU, the world road transport organisation, to improve cross-border transport of dangerous goods. The partnership focuses on safety, efficiency, sustainability, training, and fuel efficiency.
Saudi Basic Industries Corporation (Sabic), a global leader in chemicals, returned to profit in the first quarter of 2026, posting a net profit attributable to shareholders of SAR13.2 million ($3.52 million) compared with a SAR1.21 billion ($322 million) loss a year earlier, according to the company's Tadawul filing.
Unique Group, an expert in subsea technologies and engineering, has secured a contract with DeepOcean for the supply of two XWM-90-S A-Frames.
Saudi Arabia's National Gas and Industrialisation Holding Company (Gasco), a leading company in LPG solutions industry, said it has secured the go-ahead from the General Authority for Competition (GAC) to proceed with its planned acquisition of a 50% stake in Jacko Gases, a key provider of gas requirement service in the kingdom.
Eni signed a programmatic agreement with the Venezuelan Ministry of Hydrocarbons and the state-owned company PDVSA to relaunch oil activities, specifically at Junin-5 (PDVSA 60 per cent, Eni 40 per cent), located in the Orinoco Belt, a heavy oil field containing 35 billion barrels of certified oil in place.
SLB has launched AlphaSight, a new reservoir mapping and drilling intelligence technology that improves visibility and control in complex drilling environments, setting a benchmark and helping maximise production potential.
TotalEnergies has completed its acquisition of 50 per cent of EPH’s Western European flexible power assets, forming TTEP, Europe’s second-largest flexgen player with 14 GW capacity across five countries and 30 TWh output in 2025.
