Vision Golfe 2026 brought together more than 1,200 participants, five ministers, senior government officials and business leaders in Paris this week, reinforcing its position as the leading platform for economic cooperation between France and the Gulf Cooperation Council (GCC).
Oil prices surged on Monday after US President Donald Trump threatened renewed military action against Iran and warned that Washington could "take over" the Strait of Hormuz if ongoing negotiations with Tehran fail, reigniting concerns over global energy supplies.
Leading decision-makers, business leaders and construction industry experts will be in Abu Dhabi this week for the Forbes' Building the Future Summit 2026 where they will discuss the future of urban development and sustainable infrastructure across the Middle East and North Africa.
Opec’s World Oil Outlook 2026 projects global energy demand to rise 23 per cent by 2050, with oil reaching 124 mb/d. It highlights the need for diverse energy sources, expanded access, and sustained investment to balance growth, sustainability and affordability.
Wood has secured a five-year Long-Term Agreement with Aramco, extendable by three years, to provide engineering, design and project management services for oil, gas, refining, petrochemical and lower-carbon hydrogen projects in Saudi Arabia.
Global automation leader Emerson has announced it will co-develop next-generation corrosion management solutions for Aramco, one of the world’s leading integrated energy and chemicals companies.
Elsewedy Electric, a leading provider of energy and infrastructure solutions in EMEA region, said the group continues its efforts to empower Saudi women and actively engage them in the workplace. Its Saudi female employees currently represent 6.5% of the group’s total workforce in the kingdom.
King Salman Energy Park (SPARK) has signed an agreement with Pan Kingdom Real Estate to develop an integrated industrial complex comprising 168 ready-built industrial units across 214,000 sq m area within the mega development in the Eastern Province of Saudi Arabia.
Egypt and the UAE have discussed expanding energy cooperation, focusing on increased Emirati investment in petroleum, aviation fuel, and exploration activities, alongside plans to establish a joint working group to advance sector opportunities.
Saudi Arabia and South Korea signed an MoU to expand oil and gas cooperation, covering petroleum, petrochemicals, crude storage, pipeline infrastructure, technology, and sustainability initiatives, as the two countries seek to strengthen energy security and investment ties.
