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Germany-based chemicals company has OQ been owned by Oman since 2013, but the Gulf investor is now reportedly looking to sell its stake in the business, which has large debts and is at risk of falling into insolvency.
Dubai-based DP World has blamed attacks on Red Sea shipping by Yemen’s Houthi rebels for the 40% fall in its profits in the first half of 2024. In contrast, Abu Dhabi’s AD Ports said its revenues had more than doubled and profits were up 25%.
The Doha-based energy company has agreed to take a 20% stake in offshore Block 5 from American major Chevron – adding to an already diverse global asset portfolio.
Oman’s plans for a fourth LNG train at the Qalhat Industrial Complex is an indication of the robust health of the regional LNG market and follows a trend already established in other Gulf producers of gas.
The low-cost carrier is sticking to its all-Airbus strategy but is now adding wide-body aircraft to its fleet.
Iraq has a limited military manufacturing base, but has been keen to do more, with medium ammunition and electric vehicle production plants also now under development.
Kuwait Oil Company announced in mid-July the discovery of the offshore Al-Nokhatha field, which is estimated to hold some 2.1bn barrels of crude and more than 5tcf of natural gas.
Shell, BP, Mitsui and TotalEnergies have all signed up to take 10% stakes in the $5.5bn Ruwais LNG project. Construction work is due to start soon, with the first LNG deliveries pencilled in for 2028.
The Saudi Power Procurement Company (SPPC) has signed power purchase agreements (PPAs) for three solar PV projects with a total generating capacity of 5.5GW. The power purchase agreements come as the government aims to tender for 20GW of renewable energy a year between now and 2030.
Saudi Arabia is an absolute monarchy, established by King Abdelaziz (Ibn Saud) in 1932. After the founder died 20 years later, his son Saud took charge and since then power has been passed from brother to brother.
Energy giant Saudi Aramco has signed $25bn worth of contracts to expand its natural gas facilities in the kingdom, while also making a series of oil and gas discoveries in the Eastern Province and Empty Quarter, in a clear sign that the kingdom remains committed to fully exploiting its hydrocarbon reserves.
Five successful bidders have been named for the Ministry of Industry and Mineral Resources’ fifth mining exploration round; a sixth round is due to be launched later in the year.
Abu Dhabi Future Energy Company (Masdar) has agreed with Greece’s Gek Terna to buy a 67% stake in renewable energy company Terna Energy, at a cost of some $3.5bn.
Potential deals in Australia and Rwanda would add to a portfolio that already includes stakes in British Airways, Cathay Pacific and China Southern, and is part of a strategy to boost traffic through Doha’s Hamad International Airport.
Prominent go-between: Qatar has emerged as a major player in regional conflicts – making itself very useful to a wide range of partners by acting as an interlocuter between various Islamist movements and western governments in crises from Afghanistan to Gaza.
