Saudi Arabia and Indonesia have signed several agreements and memorandums of understanding valued at approximately $27 billion. These deals, reported by the Saudi state news agency SPA, involve private sector institutions and focus on areas such as clean energy and petrochemicals. The agreements were finalized during the visit of Indonesian President Prabowo Subianto to Saudi...
NMDC, India’s largest iron ore producer, celebrated a significant milestone with the inauguration of its new international office in Dubai, UAE, on Tuesday. This strategic move is intended to strengthen NMDC’s global presence and support its vision of becoming a multinational mining powerhouse, as stated in a company release. The office was officially inaugurated by...
Saudi Arabia’s crude oil exports surged in June, reaching their highest level in more than a year. According to Kpler data, the kingdom increased its exports by 450,000 barrels per day (bpd) from May’s figures, bringing the total to 6.33 million bpd. This uptick occurred amidst concerns about potential supply disruptions due to ongoing conflicts...
The United Arab Emirates (UAE) emerged as Japan’s primary supplier of crude oil in May 2025, delivering a significant 30.42 million barrels. This amount accounted for 40.8% of Japan’s total crude oil imports for the month, highlighting the UAE’s crucial role in Tokyo’s energy supply. According to official reports, this strong performance in oil exports...
CVC DIF and Tabreed have formed a strategic partnership to acquire PAL Cooling Holding from Multiply Group for $1.03 billion. This deal underscores their commitment to investing in sustainable solutions in the Gulf region. The acquisition focuses on district cooling, an industry that is gaining traction due to the UAE’s extreme temperatures and the efficiency...
The UAE has revealed the fuel prices for July 2025, as reported by the Emirates News Agency (WAM). The announcement comes from the UAE Fuel Price Committee, noting that prices in June remained unchanged from May, which had seen a slight rise following two months of steady declines. For July, petrol prices are set to...
Santos has initiated exclusive discussions with Abu Dhabi’s National Oil Company regarding a potential acquisition valued at $18.7 billion. This move has sparked significant interest within the energy sector, highlighting the ongoing evolution of market dynamics in the industry. The agreement establishes a six-week exclusive due diligence period, indicating Santos’ strong interest in the offer...
The Abu Dhabi Fund for Development (ADFD) has entered into a financing agreement with the Gulf Cooperation Council Interconnection Authority (GCCIA) to enhance the connectivity of the Gulf Cooperation Council (GCC) power grid. The agreement is valued at AED752 million and aims to support the development and expansion of energy infrastructure within the region. This...
Saudi Arabia’s ACWA Power Co. is set to build two large-scale solar plants in Turkey, with a deal expected to be finalized within days. This initiative marks a significant step in ACWA’s plan to invest billions of dollars in the Turkish energy sector. According to Turkish Energy Minister Alparslan Bayraktar, the contract will involve the...
The Abu Dhabi Fund for Development (ADFD) has signed a significant financing agreement worth AED752 million ($205 million) with the Gulf Cooperation Council Interconnection Authority (GCCIA) to facilitate the expansion of the GCC power grid interconnection with the UAE’s national electricity network. This project is a crucial element of the UAE’s long-term strategy aimed at...