Construction has started in China on a 271,000-cubic-metre LNG carrier, highlighting advances in high-end shipbuilding and energy transport. The QC-Max vessel, built by Hudong-Zhonghua Shipbuilding, a China State Shipbuilding Corporation subsidiary, is due for delivery in 2028.
Italy will spend almost €60 billion ($69 billion) this year to import energy, up €8-9 billion from 2025, the national fuel producers association UNEM said.
Global oil prices declined during Friday's trading session, reaching their lowest levels since early March. Kuwait's crude oil too fell by 6.1% to $94.84 per barrel on Friday, down from $101.04 per barrel the previous day, according to data from Kuwait Petroleum Corporation (KPC).
Qatar's International Media Office has strongly rejected the allegations published by The Washington Post on June 12 that the country's energy production decisions were ever coordinated with Iran or intended to influence regional events, said a Qatar News Agency report.
The Organization of the Petroleum Exporting Countries (OPEC) expects global oil demand to continue expanding this year and the next, supported by resilient economic growth, rising mobility and increased industrial activity across major emerging economies.
Saipem has announced that its joint venture with Nasser Saeed Al Hajri has secured a key engineering, procurement and construction services contract worth €900 million ($1.03 billion) for the Uthmaniyah Gas Compression Plant in the Kingdom of Saudi Arabia. The entire work will be completed within 42 months.
2PointZero Group, a next-generation investment powerhouse focused on energy and consumer sectors, today completed the sale of its full 7.29 percent stake in Abu Dhabi National Energy Company PJSC (TAQA) to Abu Dhabi Power Corporation (Abu Dhabi Power), an indirect and wholly owned subsidiary of L'IMAD Holding Company.
Trinasolar, a global leader in smart PV and energy storage solutions, has signed a memorandum of understanding (MoU) with Ecohope Solar, a global PV and ESS solutions provider with offices in China, Thailand and the UAE, to distribute Trinasolar’s latest Vertex modules.
Khalifa Economic Zones Abu Dhabi - KEZAD Group, one of the largest operators of integrated and purpose-built economic zones in the region, has announced the development of the KEZAD SME Hub, a purpose-built business platform for small and medium enterprises (SMEs).
Saudi Arabia's oil sector is poised for a strong recovery next year as export routes gradually normalise and crude production returns to pre-disruption levels, according to Riyad Capital, which forecasts oil-sector growth of 14.3% in 2027.
