Kuwait Oil Company (KOC) has signed up Chinese group Anton Oilfield Services DMCC to deliver comprehensive integrated maintenance and operational support services for its Jurassic Production Facilities (JPF) 1, 2 and 3 located in the country's northern region.
Oil prices fell sharply on Monday after the United States and Iran halted hostilities over the weekend, raising hopes that a diplomatic breakthrough could ease tensions in the Middle East. However, shipping through the region's two critical maritime chokepoints – the Strait of Hormuz and the Bab al-Mandeb Strait – remains severely disrupted, keeping concerns over global energy supplies alive.
Dewa International, the overseas investment arm of Dubai Electricity and Water Authority, is pursuing global growth through new tie-ups with international financial and infrastructure investors. Its senior leadership held a meeting with ING and Actis in London to explore opportunities in power and water projects.
Mintra has launched two AI training courses ahead of the EU AI Act taking effect on August 1, 2026, helping organisations improve governance, compliance and responsible AI adoption across industries, including maritime and offshore sectors.
Spanish intelligent infrared technology company Sensia has been selected by Aramco as a supplier partner to support smart asset monitoring, emissions management and industrial digitalisation across Aramco’s global operations.
Iraq’s Council of Ministers has approved plans to expand oil exports through a proposed Mediterranean pipeline and advance exploration talks for the Akkas Field with ConocoPhillips, TI Capital and NovaTerr, supporting efforts to diversify routes and boost production.
China has launched its first faulted basin shale oil demonstration zone in Shandong, with the Shengli Jiyang project achieving over 700,000 tonnes of output in 2025 and holding 327 million tonnes in proven reserves.
Indonesia has begun construction of the $15 billion Makassar Strait North Hub, a national strategic project designed to unlock ultra-deepwater gas reserves and boost energy sector growth.
European Union (EU) renewable energy use rose to 26.2 per cent of gross final energy consumption in 2025, Eurostat data showed, continuing long-term growth but remaining below the bloc’s 2030 target of 42.5 per cent.
South Korea will extend fuel tax cuts until September 30 amid Middle East tensions and energy cost concerns. Reductions of 15 per cent on gasoline and 25 per cent on diesel and butane will remain in place.
