Sohar International has reaffirmed its commitment to supporting Oman’s energy sector and sustainable economic growth through a joint symposium titled “Oman’s Energy Sector in a Reshaped Gulf: Driving Economic Growth, Investment, and Global Competitiveness.”
McDermott Energy Solutions (UK), a subsidiary of McDermott and majority shareholder in the SMDC joint venture, has received a letter of intent from ExxonMobil Moçambique Limitada for limited engineering and procurement services for the Rovuma LNG Phase 1 midstream development.
Kuwait-based Action Energy Company reported a sharp increase in earnings for the first half of 2026. Revenue rose 34.4 per cent year on year to KWD18.1 million ($59 million) in the six months ended June 30, while EBITDA increased 28.3 per cent to KWD9 million, with an EBITDA margin of 49.8 per cent.
bp has agreed to acquire Woodside Energy’s 70 per cent interest in Block TTDAA 14, the Calypso gas project in Trinidad and Tobago, increasing bp’s stake to 100 per cent and assuming operatorship.
SLB and Equinor have signed a multi-year agreement for advanced reservoir stimulation services across the Norwegian Continental Shelf (NCS), including a major upgrade of the well stimulation vessel MV Island Captain.
Sabic has secured an R&D 100 Award for the sixth consecutive year, earning recognition for its NORYL V0 resins, a laser-weldable specialty material developed for the solar energy sector.
XRG, Adnoc’s international investment arm, reported resilient Q2 2026 chemicals earnings, led by Borouge International’s $1.8 billion adjusted EBITDA, underscoring the value of diversification, scale and global market exposure.
Saudi Arabia and Syria signed three Power Purchase Agreements (PPAs) for 760MW of solar projects in Rif Dimashq, supported by 1,077MWh of battery storage, alongside technical cooperation agreements with Saudi Electricity Project Development Company and Siemens Energy.
Oman’s refinery output declined 5.1 per cent in the first half of 2026, with total production reaching 108.85 million barrels by the end of June, compared with 114.66 million barrels during the same period in 2025, according to preliminary data from the National Centre for Statistics and Information (NCSI).
ADNOC Logistics & Services has announced the acquisition of five modern Very Large Gas Carriers (VLGCs) and six Very Large Crude Carriers (VLCCs) for a combined investment of approximately $1.3 billion (AED4.8 billion).
