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A second natural gas discovery within six months has made the UAE company into the ‘sweetheart’ of the Indonesian exploration sector, but there will be challenges in balancing local expectations with Mubadala’s own objectives.

United Arab Emirates (UAE)
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Abu Dhabi Future Energy Company (Masdar) is to develop a 2GW offshore wind project in Bahrain and is also part of the winning consortium for a 1.5GW solar power plant in its home market.

Bahrain | United Arab Emirates (UAE)
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Sheikh Hamad Bin Khalifa Al-Nahyan has reportedly struck a multi-billion dollar deal with the under-pressure South Sudanese government, although questions remain about the ultimate source of funds accessed by the Abu Dhabi junior royal who previously raised his profile, in the wake of the Abraham Accords, by taking a stake in controversial Israeli football club Beitar Jerusalem, which soon collapsed.

United Arab Emirates (UAE)
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Governor Prince Turki Bin Talal has launched a regional tourism ‘identity’ for Asir to promote his province, which officials say is slated to receive over $13bn for its development by 2030, the majority of which should come from the Public Investment Fund.

Saudi Arabia
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Governments across the region have sought to manage potentially negative impacts of the Gaza conflict, as consumers have latched on to a boycott of US franchises to express their anger over Israel’s actions. While Omanis and Kuwaitis are notably enthusiastic, their Saudi and UAE peers seem less engaged in the protest but, whatever the public response, the boycotts highlight the potential for a dangerous divide to emerge between leaders and their subjects on the emotive Palestinian issue, which most regimes had come largely to ignore until Hamas launched its October attack.

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State-owned Hydrom has awarded the first two GH2 projects from its second auction round launched in mid-2023, with one licence going to a British/French/Japanese consortium and another to an Australian/British group.

Oman
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Baghdad and Ankara signed more than 24 agreements and memoranda of understanding during President Recep Tayyip Erdoğan visit to the Iraqi capital. Defence, water and energy issues were to the fore, but there are still some policy mismatches, not least over attitudes to the Kurdish PKK militia group.

Iraq
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Iraqi Prime Minister Mohammed Shiaa Al-Sudani travelled to Washington, Houston and Michigan in April, holding talks with US President Joe Biden, major energy and defence companies and members of the Iraqi diaspora.

Iraq
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Some $35bn worth of potential deals were announced during the Omani leader’s two-day state visit to neighbouring UAE, with the project to develop a rail link between Sohar port and Abu Dhabi now officially up and running – and among measures that could help improve previously sometimes strained relations.

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Output at the offshore Belbazem block,  which consists of the Belbazem, Umm Al-Salsal and Umm Al-Dholouis fields, is due to ramp up to 45,000 b/d, helping Abu Dhabi National Oil Company on its way to reaching its target of 5m b/d production capacity by 2027.

United Arab Emirates (UAE)
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Four export deals have been signed by Oman LNG since mid-April, covering more than 4m t/yr of liquefied natural gas supplies and taking the total deal flow so far this year to 4.6m t/yr.

Oman
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Abu Dhabi sovereign wealth fund ADQ is buying a 49% stake in Alpha Dhabi Construction Holding, following a major real estate deal involving ADQ and IHC, another part of national security adviser Sheikh Tahnoun Bin Zayed’s business empire.

United Arab Emirates (UAE)
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A fund owned by Abu Dhabi conglomerate Chimera Investments’ Lunate has acquired a 40% stake in Adnoc Oil Pipelines from private equity giants BlackRock and KKR, in a move to take overwhelming control of a strategic local asset.

United Arab Emirates (UAE)
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Opec+ market discipline has fed into a rise in Brent crude prices to around $90/bbl, which is welcomed in Gulf capitals as an essential element in easing pressure on governments’ huge investment spending. Those higher oil prices are also driven by fears the Gaza war could spread into a much wider regional conflict that Gulf powers have been working to avoid

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Commerce and industry minister Sheikh Mohammed Bin Hamad Al-Thani has been appointed to chair Qatar’s free zones regulator, replacing Ahmed Al-Sayed who had led QFZA for more than seven years.

Qatar