China’s installed power capacity reached 4.01 billion kW by May 2026, ranking first globally. Non-fossil fuels accounted for 62 per cent of capacity, driven by growth in renewable energy projects, including offshore wind and nuclear power.
European Union’s (EU) petroleum oil imports remained stable in Q1 2026, with values up 0.8% and volumes down 0.6%, while LNG volumes rose 2.9%. The US led oil and LNG supplies, while Norway dominated pipeline gas imports.
Nasdaq Dubai has welcomed the listing of a $500 million Sukuk issued by The Arab Energy Fund (TAEF), strengthening the exchange’s position as a leading global hub for Islamic finance.
Oman's Nama Power and Water Procurement has launched the RFQ process for the development of two renewable energy projects - Adam Solar IPP (integrated with a Battery Energy Storage System (BESS), and Sinaw Solar IPP - being set up at a total investment of RO398 ($1.03 billion).
Integrated Gas Company (IGC) has signed a new series of agreements under Oman's Spot Gas Market, expanding a market-based mechanism introduced last year to improve the allocation of the sultanate's natural gas supplies.
Valvoline, a global leader in automotive and industrial solutions, has announced the launch of its commercial business operations for the newly-formed Valvoline Arabia Lubricants Company (ValCo). Headquartered in Jeddah, ValCo's offices will serve as Valvoline's regional headquarters in Saudi Arabia.
Global utilities and leading power sector equipment manufacturers have come together to lay out a series of steps to help ensure the global grid supply chains can keep pace with soaring demand.
ADNOC Drilling Company has announced the successful delivery and acceptance of AD-300, the first AI-enabled, fully automated walking island rig, delivered nearly three months ahead of schedule, enabling earlier revenue generation and accelerating the rollout of the six-rig next-generation programme.
Leading Chinese group Jereh New Energy Regeneration and Recycling Tech (Jereh NER) has secured an oil-based drilling cuttings treatment service contract from Kuwait Oil Company. Once completed, each unit will be able to process 12 tonnes per hour, backing continuous large-scale KOC operations.
A global report warns the world is off track for universal energy access by 2030, with 655 million lacking electricity and two billion using polluting cooking fuels. Sub-Saharan Africa is most affected.
