Egypt’s Petroleum Ministry has announced that a consortium of Petrojet and ENPPI has secured a six-year engineering, procurement and construction (EPC) framework agreement with Petroleum Development Oman (PDO), covering projects valued at more than $6 billion.
The UAE has invested more than $85 billion in US energy assets across 19 states, supporting power generation, advanced chemicals, and energy infrastructure. The investments have been made through XRG, ADNOC, and Masdar.
Oil prices surged above $90 a barrel on Monday as the escalating military confrontation between the United States and Iran heightened concerns over supplies from the Gulf, with shipping through the Strait of Hormuz remaining severely disrupted following another night of attacks.
Enerpac Tool Group has entered into a definitive agreement to acquire Specialised Fabrication Equipment Group (SFE Group) from SFEG Holdings, a portfolio company of Gladstone Investment Corporation, for approximately $472 million in cash.
Rosen Group has commissioned a 2 MW photovoltaic system at its Lingen site, Germany, featuring 4,500 solar modules and smart energy management. The €2 million ($2.3 million) project enables 98.7 per cent on-site electricity use, advancing renewable energy goals.
Iraq has signed energy agreements with US firms including ExxonMobil, KBR and GE Vernova to advance oil and power projects, while progressing a Mediterranean Energy Corridor pipeline initiative with a planned capacity of two million barrels per day.
SGS has signed a Memorandum of Understanding (MoU) with Al Jeri Investment Company to explore collaboration opportunities across strategic sectors, including energy, logistics and industrial services in Saudi Arabia.
Honeywell Technologies has completed its £1.325 billion ($1.8 billion) all-cash acquisition of Johnson Matthey’s Catalyst Technologies business, strengthening its portfolio across refining, petrochemicals and renewable fuels.
NGK Corporation and Kyoto Fusioneering (KF) have formed a strategic partnership to develop and commercialise FLiBe, a molten salt made from lithium fluoride and beryllium fluoride, for use in future fusion power plants and demonstration facilities.
Gulf Marine Services secured a four-year, 1,461-day charter for a self-elevating accommodation unit, expanding its Latin America presence. The vessel will be deployed offshore Brazil, with delivery planned between August and November 2026.
