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Adnoc Gas, now under new chief executive Fatima Al-Nuaimi, broke ground at Ruwais in November and has since awarded contracts for an LNG pre-conditioning plant, compression facilities and pipelines.

Roc Oil Company has completed its Tethys Oil acquisition, giving the Australian firm a stake in five Omani blocks with production of some 8,800 b/d.

Abu Dhabi National Energy Company has appointed former BP chief executive Bernard Looney and Blackstone president Jon Gray, alongside Sultan Ahmed Al-Jaber and other senior local figures, to the board of its new mega-venture XRG.

The 9.6m t/yr liquefied natural gas project was originally due to be developed in Fujairah, but was moved to Abu Dhabi emirate in early 2023. Once complete in 2029, it will more than double the UAE’s LNG production capacity to 15.6m t/yr.

QatarEnergy has added to its existing holdings in two promising areas off the coast of Namibia, where TotalEnergies made the giant Venus oil discovery in February 2022.

Saudi Power Procurement Company has awarded contracts to develop and operate four CCGT plants with 7GW-plus combined generating capacity to two consortia who will receive 25-year power purchase agreements.

QatarEnergy has bought a 23% interest in Egypt’s North El-Dabaa (H4) Block in the Mediterranean Sea for an undisclosed amount.

Oman’s state-owned energy group OQ is preparing to list a minority stake in its Base Industries subsidiary on the Muscat Stock Exchange, following the bourse debut of its OQ Exploration and Production division in late October.

In a sector reorganisation, Sharjah ruler Sheikh Sultan Bin Mohammed Bin Saqr Al-Qasimi has set up an Energy Council, renamed the Petroleum Council as the Petroleum Department and appointed Sharjah National Oil Corporation (SNOC) chief executive Hatem Mohammed Al-Mosa as director general of both bodies.

In a move that points to continued turbulence in the executive, Kuwait Emir Sheikh Mishaal Ahmed Al-Jaber Al-Sabah appointed Tareq Suleiman Ahmed Al-Roumi as oil minister in late October. Sheikh Mishaal also appointed Jalal Sayed Abdulmuhsin Al-Tabtabei as education minister, replacing Adel Mohammed Al-Adwani.

Saudi Arabia is said to be considering dropping its unofficial price target of $100/bbl in favour of chasing market share. Concerns around the wars involving Israel and Iran and its proxies could help to sustain oil prices, although there is a risk of a disorderly break-up of the Opec+ agreement between oil cartel Opec and other major producers including Russia.

Bapco Energies has sold a minority stake in the pipeline that brings Saudi crude to the Bahrain Refinery and, in a separate deal, bought out its minority partners to take full control of Bapco Gas.

Abu Dhabi-based Mubadala Energy and Kuwait Foreign Petroleum Exploration Company (Kufpec) were awarded further licences in September, adding to their existing portfolios in Indonesia, where both have recently made natural gas discoveries.

Nasdaq Stockholm-listed Tethys Oil has recommended its shareholders accept an offer from Australian suitor Roc Oil, which values the company at $186m.

The sale of 25% of the shares in OQ Exploration and Production could raise up to $2bn, according to some estimates.