An Irena brief says renewables are improving energy security during the crisis by reducing fossil fuel dependence, with record capacity growth, falling costs, and battery-backed wind and solar delivering cheaper, more resilient 24/7 power.
Masar Petroleum announced a Block 7 discovery at Hasirah Ridge in Oman after drilling a new well, validating a 5km-wide, 30km-long geological trend and unlocking potential resources of 100–380 million barrels.
Two of Norway’s offshore companies, GoSubsea and Envirent, have announced a strategic partnership that combines technical expertise with expanded service offerings.
Econowind, a Dutch specialist in wind-assisted ship propulsion, is expanding into the deepsea market with the launch of its new 5-series VentoFoil.
TotalEnergies EP Congo (63.5 per cent, operator) announces a hydrocarbon discovery on the Moho license, offshore of Congo, following the drilling of the MHNM-6 NFW exploration well targeting the Moho G structure.
Iran expects to restore most damaged refining and distribution facilities to 70–80 per cent of their pre-attack capacity within one to two months, a senior oil official said, as authorities work to recover from a wave of strikes on energy infrastructure.
Kuwait has raised the official selling price for Kuwait Export Crude to Asia in May to $17 a barrel above the average of Oman/Dubai quotes, a price document reviewed by Reuters showed.
Oil prices jumped above $100 a barrel again on Monday as the US Central Command said it will block ships from entering and exiting Iran ports via the Strait of Hormuz.
Saudi Royal Commission for Jubail and Yanbu has announced that its total investments in the industrial cities hit more than SAR1.5 trillion ($400 billion) by the end of 2025. The country’s flagship industrial hubs, Jubail is focused on petchem and heavy industry while Yanbu serves as the refining and downstream sector.
Increasing temperatures and energy demand make energy efficiency a priority. Cooling dominates electricity use in Gulf countries, reaching 70 per cent of peak building demand in Bahrain, straining grids and driving need for sustainable solutions urban growth, according to Ali Al Rumaihi is the Country Manager for Tabreed in Bahrain
