Afghanistan, Saudi group sign oil, gas deal for Kushk-Tirpul basin exploration
Exploration period under the $200 million deal is set at 8 years, while the contract will run for 25 years.• Zalmay Khalilzad, former US special representative, says deal indicates that Afghanistan is ‘ready for business’.
Oil prices jump 4% as fresh US-Iran fighting stokes supply fears
Brent crude pushed past $93 per barrel, while U.S. West Texas Intermediate (WTI) traded near $89 to $90, marking multi-week highs
Iran, Oman agree on temporary Hormuz route: What we know
Iran’s deputy foreign minister announced a temporary shipping corridor in the Strait of Hormuz.
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Construction completed on $8.5bn Neom hydrogen project
Saudi Arabia’s $8.5bn Neom Green Hydrogen project has completed construction and entered commissioning, with commercial operations targeted for 2027.
UAE Says Iran Fired Two Missiles at Country as War Drags On
The United Arab Emirates said two ballistic missiles were fired toward the country from Iran, with both missiles falling into the sea. The UAE's Defense Ministry said one missile dropped within the UAE's territorial waters and the other outside.
Tanker Stops in Hormuz as Iran Raises Efforts to Control Strait
A fuel tanker has made an erratic series of turns and come to a halt near Iran’s Qeshm Island, as the country steps up efforts to control the Strait of Hormuz.
Egypt lays foundation stone for first energy storage systems plant in Middle East, Africa
Egypt has broken ground on the Middle East and Africa’s first dedicated battery energy storage systems (BESS) manufacturing plant. Developed by Sungrow Power in the Egypt-China TEDA Zone in Ain Sokhna.
Aramco Profit Jumps 33% as US-Iran War Boosts Oil Prices
Adjusted net income climbed to $33.4 billion in the second quarter as higher oil prices more than offset lower production caused by the closure of the Strait of Hormuz
Europe's Rivers Are Drying Up. Its Power Grid Is Paying the Price.
As heat waves push European rivers to record lows, nuclear reactors and hydro plants are throttling back amid record cooling demand
Oil falls after Trump cancels attack on Iran to seek nuclear deal
Brent crude sank as much as $4.49 a barrel, or roughly 5%, to $83.44
Qatar Sends First LNG Shipment Through Hormuz in Three Weeks
Quietly resuming transit through the world's most dangerous choke point, Qatar sent a new LNG tanker through the Strait of Hormuz just three weeks after a missile strike set one of its gas carriers on fire off the Omani coast.
ADNOC-operated LNG carrier appears to be first to enter Strait of Hormuz in weeks
The Abu Dhabi National Oil Co (ADNOC) appears to have sent a ballast LNG carrier through the Strait of Hormuz (Mraweh), marking the first known LNG carrier transit through the critical waterway since 11 July
