Oil prices eased slightly on Tuesday after jumping about 6% yesterday following increased hostilities in the Strait of Hormuz.
The UAE is entering “a new chapter” in which it is reshaping its place in the global economy with “confidence, clarity, and ambition”, said Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology.
Global LNG exports fell to about 33 million tonnes in April 2026, the lowest in nearly two years, as Middle East tanker disruptions linked to the US-Israeli war with Iran impacted shipping flows.
Oman’s Ministry of Commerce, Industry and Investment Promotion will begin implementing the provisions of the new regulatory framework for fuel filling stations, issued under Ministerial Decision No. (142/2025), effective Wednesday, May 6, 2026.
Adnoc launched its Industrial Resilience Programme at the ‘Make it in the Emirates’ forum, unveiling five initiatives to strengthen UAE supply chains, boost local manufacturing, enhance business continuity and build sustainable industrial capacity across sectors.
Petroleum Development Oman (PDO) has signed a strategic contract with Abraj Energy Services for the provision of hydraulic fracturing services, reinforcing its commitment to maximising hydrocarbon recovery, enhancing operational performance and strengthening local content.
Egypt has announced a new natural gas discovery in the Nile Delta, with projected production of 50 million cu ft per day (mmcf/d) following the drilling of the exploratory well (Nidoco N-2) in the West Abu Madi area, co-operated by Italy’s Eni and the UK’s British Petroleum.
Qatar-based Green Sky Capital has signed the financing deal for a landmark sustainable aviation fuel production facility on a 100,000-sq-m site within the Suez Canal Economic Zone in Egypt. The engineering, procurement and construction contract for the project has been awarded to French group SeaOwl.
Unique Group, a subsea technology and engineering expert, has announced a multi-million-dollar investment to expand its Subsea Mechanical division worldwide, strengthening capabilities in subsea decommissioning, installation, and construction projects.
Emerson deployed an AI optimisation solution for Aramco by integrating Aspen Hybrid Models into refinery planning, creating a large-scale optimisation system and achieving up to 98.5 per cent accuracy in yield and quality predictions.
