Fertiglobe, a major exporter of urea and net ammonia and the exclusive ammonia platform of ADNOC and XRG, today reported strong revenues of $1.1 billion, up 92% year-on-year, for the second quarter of this year.
Oil prices extended their sharp decline in early Asian trading on Tuesday as markets welcomed a fourth consecutive night without military strikes between the United States and Iran, easing immediate fears of a wider disruption to Middle East energy supplies.
Global battery energy storage system (BESS) capacity is forecast to increase sixfold between 2025 and 2030, growing at a 42 per cent CAGR, as rising electricity demand from electrification, industry and AI-driven data centres accelerates investment, according to GlobalData.
Ampo Arabia has secured the largest order in its history, winning a contract from C.A.T. Group to manufacture up to 1,200 engineered valves locally for Aramco’s Zuluf offshore expansion, supporting Saudi Arabia’s energy growth and localisation goals.
KBR has been awarded a project management consultancy (PMC) contract by Power2X for its eFuels project in Rotterdam, a major initiative aimed at accelerating Europe's transition to sustainable aviation fuel (SAF).
Swedish solar company Midsummer has secured its largest-ever order, supplying 667 kW of lightweight BOLD solar panels for an off-grid project developed with Denmark's Green Energy Group, with delivery and installation scheduled for the fourth quarter of 2026.
Dubai Electricity and Water Authority (Dewa) has reported major gains from its AI-driven Gas Turbine Intelligent Controller, developed with Siemens Energy, boosting Jebel Ali plant capacity by 28.9 MW and delivering AED38.95 million ($10.6 million)in CAPEX savings.
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.
