Oil prices rose more than 4% at settlement on Friday, hitting their highest levels in over a month amid the ongoing Middle East conflict. Brent Crude futures surged by $3.87 (4.59%) to settle at $88.10 a barrel, while US West Texas Intermediate futures surged by 4.48% to $82.49.
Iraq and Syria have signed an agreement to rehabilitate the crude oil pipeline linking Haditha in Iraq with Baniyas in the war-ravaged country, reported the Iraqi News Agency (INA). A vital project for the region, it is likely to be implemented by US energy company Chevron.
Bahrain’s Bapco Energies and its venture arm, BeVentures, are evaluating Small Modular Reactors (SMRs) to meet growing power demands from energy-intensive industries and AI infrastructure, a report said.
The United States and Iran exchanged a fresh wave of military strikes for a sixth consecutive night, deepening fears of a wider regional conflict as Tehran prepared to expand its pressure on global energy supplies by threatening to shut another critical maritime chokepoint at the entrance to the Red Sea.
Renewable energy consultancy OWC, Korea Leading Energy Management (KLEM) and energy solutions provider OEG have signed a tripartite memorandum of understanding (MoU) to jointly deliver offshore wind balance of plant (BoP) operations and maintenance (O&M) services in South Korea.
David Latin, Chair of Serica Energy, and Yaniv Friedman, Executive Chairman of Ithaca Energy, have been appointed co-chairs of the conference and executive committee for SPE Offshore Europe 2027 (OE27), which will take place at P&J Live in Aberdeen from September 7–9, 2027.
Petrofac has appointed a new Board of Directors following its acquisition by a consortium led by Mason Capital and Pearlstone, marking a new phase in the company’s strategic development, governance and long-term growth.
Huawei has announced its strategic focus on grid-forming, integrated solutions that reinforce grid stability to support high renewable penetration in Europe.
Adnoc Distribution, the UAE’s leading mobility and convenience retailer, has received the Gold Award for Fleet Safety from the Royal Society for the Prevention of Accidents (RoSPA), becoming the first UAE fuel retailer and the first Adnoc Group company to achieve the global recognition.
The International Energy Agency (IEA) has warned that global supply chains for critical minerals remain highly vulnerable despite growing efforts to diversify production, with rising geopolitical tensions and export restrictions posing significant risks to energy security and industrial growth.
