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Mohammed Bin Salman (MBS) has been pushing his economic reform agenda in the days since being named prime minister. On 29 September, he unveiled a new strategy for Savvy Games Group, a subsidiary of the state-owned Public Investment Fund (PIF), with the aim of turning the kingdom into a hub for gaming and esports by 2030.

Paul Weir was named chief executive of Genel Energy on 3 October. The London Stock Exchange (LSE)-listed firm has interests in the Kurdistan Region of Iraq’s Sarta, Taq Taq and Tawke licences.

GSN Risk Grade – B3 Hydrocarbons windfall improves rating: Oman is expected to be among the region’s main beneficiaries from elevated oil prices in 2022-23. Along with reforms introduced on Sultan Haitham Bin Tariq Al-Said’s watch, this feeds into an improved economic outlook.

The Netherlands government has contributed a further $7.5m to a United Nations-led scheme to secure the FSO Safar floating oil terminal. The vessel is moored off the coast of Hodeidah and at risk of breaking up or exploding, spilling more than 1m barrels of crude oil into the Red Sea and causing economic and environmental devastation.

Lebanese-Canadian national Wael Sawan has been named the next chief executive of Shell, replacing Ben van Beurden from 1 January 2023. Sawan is currently director of integrated gas, renewables and energy solutions.

Abu Dhabi National Oil Company (Adnoc) is in talks to buy all or part of commodities trader Gunvor Group, according to a 21 September Bloomberg report. Any deal is likely to see Gunvor combined with Adnoc’s own trading activities.

Oman’s Ministry of Energy and Minerals signed an exploration and production-sharing agreement on 16 September for onshore Block 11 with operator Shell (67.5% equity), TotalEnergies (22.5%) and state-owned OQ (10%).

DP World is a principal tool in the UAE’s economic relationship with Russia. The Dubai-based ports and logistics giant has established itself as a leading actor in eastern Europe; it has a sizeable presence in the Black Sea and nearby areas, handling trade into and out of Russia and neighbouring countries.

QatarEnergy is to develop the world’s largest blue ammonia project via its QatarEnergy Renewable Solutions (QRS) and Qatar Fertiliser Company (Qafco) subsidiaries. A $1bn engineering, procurement and construction contract was signed in late August for the Ammonia-7 project with ThyssenKrupp and Consolidated Contractors Company.

Qatar is gearing up for the start of the Fifa World Cup on 20 November, following a last-minute change in the tournament schedule. A massive public arts campaign is being rolled out – led by Qatar Museums chief Sheikha Al-Mayassa Al-Thani – to go alongside state-of-the-art stadium architecture. The authorities will be hoping sport and culture remain the focus, rather than criticism about workers’ rights or any untoward behaviour by fans, but as a Perspective article from GSN issue 1154 highlights, Qatar has successfully dealt with numerous other challenges in the run-up to being awarded the tournament in 2010.

The UAE’s state-owned Khalifa Industrial Zone Abu Dhabi (Kizad) signed a lease agreement on 6 September with NWTN (pronounced Newton) for an electric vehicle (EV) assembly plant in the industrial area. The plant will initially produce cars from kits manufactured in China. The first phase is due to be completed this year, with a production capacity of 5,000-10,000 EVs a year. A second phase could take output to 50,000/yr by Q1 2024.

Energy and shipping are at the heart of the warm relations between Russia and the UAE, providing Moscow with an outlet to the world that avoids western sanctions. It is a relationship that might rankle with Washington, but appears to be in line with local public opinion, with polling suggesting that more Emiratis value good relations with Russia and China than with the United States.

The 5 September Opec+ ministerial conference did nothing to accommodate the wishes of the many world leaders who had courted Gulf decision-makers in the expectation they might relieve pressure on energy-consuming economies.

Iran inaugurated a liquefied petroleum gas (LPG) export terminal in the port of Bandar Abbas, following a two-month project to convert a disused gas storage facility.

Ammonia production has started at a facility developed by state-owned OQ in Oman's Dhofar.  Asian markets are a key export target.