For ADNOC’s portfolio of listed companies, the UAE’s decision to conclude its membership of OPEC and OPEC+ removes a constraint that has historically limited how investment in capacity translates into activity and earnings, said a WAM news agency report.
Austrian oil and gas group OMV said it expected higher energy prices to more than offset disruptions to production and sales volumes caused by the war in the Middle East, a Reuters report said.
Oil prices have dropped sharply and stock markets have jumped after the US and Iran agreed a two-week ceasefire deal that includes the reopening of the Strait of Hormuz waterway.
The heads of the International Energy Agency (IEA), International Monetary Fund (IMF), and World Bank Group will meet on Monday to discuss the energy crisis triggered by the Iran war.
Oman’s Ministry of Energy and Minerals, with be’ah, held a workshop on a national facility to manage naturally occurring radioactive material (NORM) waste, supporting efforts to build a safe, integrated system for handling radioactive waste from oil and gas activities.
The Black Gold Museum at the King Abdullah Petroleum Studies and Research Center (KAPSARC) in Riyadh was inaugurated on Tuesday, marking a significant milestone in Saudi Arabia’s cultural landscape.
The installed renewable energy capacity has exceeded 7.7 gigawatts (GW), with projects under development expected to raise total capacity to more than 23 GW by 2031, a WAM news agency report said.
The Saudi Water Authority (SWA) has announced that it has achieved a major global milestone at its Yanbu production plant by recording the lowest energy consumption level globally at 1.55 kilowatt-hours per cu m, reducing it from its earlier consumption level of 1.7 kilowatt-hours per cu m.
Direct Travel has expanded its Avenir platform across Energy, Marine, and Mining divisions via ATPI, offering a unified global model for executive and project travel that complements existing specialist workforce and logistics solutions.
In a shock move poised to rattle global oil markets, the UAE has announced it will exit the Organisation of the Petroleum Exporting Countries and its wider Opec+ grouping, effective May 1, 2026.
