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.
A Qatari liquefied natural gas (LNG) tanker was sailing toward the Strait of Hormuz on Saturday in what would be the first such transit since the outbreak of the US-Israel- Iran war, even as uncertainty persisted over peace efforts with Washington still awaiting Tehran's response to a proposal.
The UAE Ministry of Industry and Advanced Technology (MoIAT), Emirates Development Bank (EDB), and ADNOC have signed a memorandum of understanding, making ADNOC the first partner to support the UAE Cabinet's newly announced AED1 billion National Industrial Resilience Fund (NIRF).
The European Commission selected nine hydrogen projects across seven EEA countries under the European Hydrogen Bank auction. Backed by €1.09 billion ($1.3 billion) in EU funding, they aim to deliver 1.1GW electrolyser capacity, producing 1.3 million tonnes of hydrogen.
Honeywell announced that Egyptian Linear Alkyl Benzene (ELAB) Company has selected Honeywell UOP’s petrochemical licensing, technologies and engineering services to help increase normal paraffins production to support its linear alkylbenzene (LAB) facility in Egypt.
Adnoc Distribution has announced new strategic partnerships with Emirates Global Aluminium (EGA) and Borouge, collectively valued at over AED 60 million ($16 million), aimed at strengthening industrial performance and reinforcing the UAE’s manufacturing ecosystem.
DTEK.ai, a UAE provider of AI and machine learning solutions for enterprises, and Adnoc Distribution have signed a strategic agreement to deploy SWIFT, an AI-powered self-checkout solution, across Oasis by Adnoc convenience stores in the UAE.
AJ Al Asmawi Group, one of the UAE’s largest independent family-owned conglomerates, has signed a musataha agreement with Dubai Industrial City (DIC) part of TECOM Group, to expand its operations within the district and introduce one of the UAE’s first oil rigs manufacturing and refurbishment facilities.
