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Most of the industrial hydrogen currently available is produced from natural gas through a steam methane reforming process; this is known as ‘blue hydrogen’. In contrast, ‘green hydrogen’ is produced by applying electric currents generated from renewable energy sources to water, in the process breaking H2O into its hydrogen and oxygen components.

Following threats to refer firms to the General Authority for Competition, the Public Investment Fund has acquired shareholdings in four major contracting companies, giving PIF chair Saudi Crown Prince Mohammed Bin Salman an equity stake he has long had his eye.

The Covid-19 pandemic has put huge pressure on government finances, but Crown Prince Mohammed Bin Salman’s favoured mega-projects have continued nevertheless, underpinned by PIF funding to offset the lack of foreign investment. Research by GSN, supported by data provided by Diligencia, shows the bulk of contracts have gone to some of the kingdom’s most long-established companies.

The Dubai Chamber of Commerce on 9 November received a high-level delegation led by the Federation of Israeli Chambers of Commerce president Uriel Lynn, two months after the chambers signed a strategic partnership agreement.

Abu Dhabi has used its annual round of renewable energy (RE) events to unveil a series of grants and other financial support for green energy initiatives in developing economies. Each January, the UAE capital hosts the annual assembly of the International Renewable Energy Agency (Irena) and linked events such as Abu Dhabi Sustainability Week. This year, the Abu Dhabi Fund for Development (ADFD) announced $105m in funding for eight RE projects in the latest round of the Irena/ADFD Project Facility.

Oman's Ministry of Energy and Minerals has opened a new bidding round for hydrocarbons concessions, including Block 15 at Jebel Aswad, south of Ibri, Block 36 at Fasad, adjacent to the Oman-Yemen-Saudi border triangle, and onshore Block 54 at Karawan, south-west of Duqm.

Budget balance: The government said it is aiming for a budget deficit of less than 1% of gross domestic product in 2024, which will bring it close to the target set out in the amended Fiscal Balance Programme of balancing its books that year. The government originally hoped to break even by 2022, but delayed that by two years during the Covid pandemic.

Saudi Aramco underlined the kingdom's deepening relationships with China when the national champion announced the acquisition of a 10% stake in Rongsheng Petrochemical Company.

The Bahraini Ministry of Electricity and Water Affairs signed a contract to develop a 72MW solar photovoltaic (PV) project  – the largest such scheme yet in Bahrain and representing a significant step towards the government's goal of developing 250MW of renewable energy capacity by 2025.

Turkish attacks: Türkiye (Turkey) launched a sustained aerial bombardment of Kurdistan Workers’ party (PKK) bases in the Kurdistan Region of Iraq (KRI) in early October, following a suicide bombing at the Ministry of Interior building in Ankara on the opening day of the month, a few hours ahead of the reopening of the Turkish parliament after a three-month summer recess.

Qatar’s ambassador to Australia Saad Abdulla Al-Mahmoud Al-Shareef and Qatar Airways executives are expected to be called to testify at an enquiry by the Australian Senate over a growing scandal around the Canberra government’s alleged protection of local flag carrier Qantas against international competition.

QatarEnergy has signed a series of long-term agreements with European partners on the North Field expansion projects in recent weeks. Separately, QatarEnergy's agents were also in London agreeing LNG deliveries with brokers. 

A 60-year operating licence for the fourth and final unit at the UAE's Barakah nuclear power plant was issued to Nawah Energy Company by the Federal Authority for Nuclear Regulation. The plant will have a total generation capacity of 5.6GW once complete.

Saudi Arabia's energy minister Prince Abdelaziz Bin Salman Bin Abdelaziz  announced in November that Saudi Aramco had discovered two natural gas fields in the Empty Quarter, at the Al-Hiran and Al-Mahakik fields.

Russia's Lukoil signed a supplementary agreement with Iraq’s Basra Oil Company to extend its development and production contract on the West Qurna-2 oil field by ten years to 2045.