Dana Gas reported Q1 2026 net profit of AED270 million ($74 million), up 72% year-on-year, driven by a one-off Kurdistan gas adjustment, while revenue rose to AED531 million amid higher production and gas sales in Egypt and Iraq.
OQ Exploration & Production (OQEP), Oman’s oil and gas exploration and production company, reported resilient Q1 2026 results, with revenue of OMR296.4 million ($770.8 million), broadly stable year-on-year, supported by higher gas sales and an under lift adjustment for oil and condensates.
ADNOC Gas reported $1.1 billion net income in Q1 2026, demonstrating strong operational and financial performance despite regional uncertainty, energy-sector disruption, and maritime challenges affecting movements through the Strait of Hormuz.
QatarEnergy signed a memorandum of understanding with TotalEnergies, ConocoPhillips, and the Syrian Petroleum Company for cooperation in oil and gas exploration offshore Syria.
Morocco’s decision earlier this year to pause elements of its long-anticipated LNG import strategy marks less a delay than a strategic reset – one that reflects both shifting global market dynamics and a more pragmatic approach to infrastructure development, said industry experts.
Eni announces a significant gas and condensate discovery in Egypt, with the drilling of the Denise W 1 exploration well in the Temsah Concession, located offshore in the Eastern Mediterranean.
Abu Dhabi authorities have announced that one person was killed and four others were wounded in an Iranian drone strike at Habshan gas facilities yesterday. Also two fires broke out at the gas facilities as a result of this incident, stated the authorities, leading to significant damage.
Middle East conflict disrupted global natural gas markets, cutting nearly 20 per cent of LNG supply via the Strait of Hormuz, causing supply shocks, uncertainty, and sharp price increases worldwide, according to the International Energy Agency’s (IEA) latest quarterly gas market report.
Conflict between the US, Israel and Iran has disrupted Strait of Hormuz shipping, exposing limited export alternatives. Existing pipelines offer partial relief, while proposed routes face major political, security and financial challenges.
Integrated Global Services (IGS) research shows 46 per cent of oil and gas assets in Saudi Arabia and UAE operate beyond design life, with 83 per cent still confident in performance despite downtime losses and growing focus on efficiency and reliability.
