ADNOC Drilling, a key unit of Abu Dhabi National Oil Company (ADNOC), has reported its strongest-ever first-quarter earnings, with a revenue of $1.23 billion, up 5% year-on-year, and a net profit of $347 million, backed by high fleet utilisation and growth in integrated drilling services.
Oman’s Public Authority for Special Economic Zones and Free Zones (OPAZ) signed a usufruct agreement with Korean EV technology company EL B&T to establish an electric vehicle and battery cell production project in Duqm’s special economic zone, with investments estimated at $250 million.
Oman Sustainability Week (OSW) and the Oman Petroleum and Energy Show (OPES) will take place from May 18 to 20, 2026 at the Oman Convention and Exhibition Centre in Muscat, under the patronage of the Ministry of Energy and Minerals.
STATS Group has entered a strategic partnership with Patriot International to distribute its mechanical pipe connectors and localised hydrostatic weld testing tools across six European markets: the Netherlands, Belgium, France, Germany, Luxembourg, and Spain.
ACWA reported Q1 2026 results with SAR455 billon ($121 billion) asset base across 109 assets. Gross capacity reached 95.7GW, including 52.3GW renewable. Net profit fell to SAR345 million, reflecting lower development income compared with a strong Q1 2025.
Saudi-listed Acwa has signed $226 million of financing agreements for the Bash II 300 megawatts (MW) Wind Farm in Uzbekistan at the 2026 Asian Development Bank (ADB) Annual Meeting.
Indonesian President urged ASEAN nations to expand renewable energy projects and strengthen regional energy resilience, highlighting Southeast Asia’s vast solar, wind and hydropower potential alongside Indonesia’s plans to build 100 GW of solar capacity.
German Airports Association warned rising kerosene prices and supply shortages could trigger millions of flight cancellations, higher fares, reduced airport capacity, and fewer routes, with up to 20 million passengers potentially affected in 2026.
Jeju Air, Jin Air and other Korean budget airlines cut 900 round-trip flights and introduced emergency measures as Middle East tensions pushed jet fuel prices sharply higher, with further flight reductions expected in coming months.
Oil giant Saudi Aramco reported a sharp rise in first-quarter profit on Sunday, citing strong operational resilience and the ability to maintain exports despite disruptions to shipping through the Strait of Hormuz.
