RWE looks to buy LNG from ADNOC in Germany as it moves to diversify its supply
RWE signed a preliminary agreement with Abu Dhabi National Oil Company on Friday. The German utility stated that it could purchase LNG for European markets as Berlin strives to diversify their energy partners. The German Chancellor Friedrich Merz has been visiting the Gulf region to look for new energy sources, and to reduce the country's dependency on the United States, its dominant supplier. RWE is not only a power producer but also a trader of gas and LNG and an energy 'importer.
Maguire: China tightens its grip on clean tech with growing exports of EVs.
China's position as the world leader in clean technology is best illustrated by its EV exports. These will reach nearly $70 billion dollars in 2025, and span over 150 countries. Electric vehicles are a major part of China's manufacturing industry, and millions of people work in the various supply chains that support?clean cars? and their components. Over half of new cars in China are EVs. But as the domestic market slows, China's EV industry is likely to become more dependent on foreign markets.
Maguire: China tightens its grip on clean tech with EV export growth.
China's position as a global leader in clean technology is best illustrated by its massive EV exports. These will reach nearly $70 billion dollars in 2025, and span well?over 150 different countries and territories. Electric vehicles are a major part of China's manufacturing industry, and millions of people work in the various supply chains that support clean cars. Over half of new cars in China are EVs. But as domestic demand declines, the country's EV industry is likely to be more dependent on foreign markets.
Merz, Germany's Merz, promises arms cooperation while he seeks to increase Qatari energy
German Chancellor Friedrich Merz promised to take a more-restrictive approach to arms exports to Gulf States during a visit to 'Qatar' on Thursday. The trip came as Europe’s largest economy seeks to deepen economic ties and to diversify its sources of energy. Merz has launched a campaign aimed at promoting Germany as an attractive country for doing business, as the U.S. tariff policy is driving countries to look elsewhere for trade agreements. Media reports claim that he has already visited Brazil, India, and South Africa.
QatarEnergy signs long-term LNG supply agreement with Japan's Jera amid surge in demand
QatarEnergy signed a contract with Japan's largest power generator Jera on Tuesday to supply 3,000,000 tons of LNG per year for 27 years starting in 2028. This deal will further strengthen Qatar's position on the Japanese market. The agreement was made at the LNG2026 Conference in Doha and would strengthen QatarEnergy’s position in Japan, as the competition from U.S. companies and Gulf rivals,?United Arab Emirates, and Oman who offer more flexible terms, intensifies. The two firms have been in talks for months. First reported the talks in 2025.
Oil Prices Rise on U.S.-Iran Tensions
Oil prices steadied on Wednesday after rising earlier in the session after the U.S. shot down an Iranian drone and armed Iranian boats approached a U.S.-flagged vessel, rekindling fears of an escalation in tensions ahead of planned talks.But a broader selloff of software equities, which often move in tandem with oil prices, capped gains.Brent crude oil futures were up around 0.1% at $67.38 a barrel by 1423 GMT. U.S. West Texas Intermediate crude was…
QatarEnergy Secures LNG Supply Deal with Jera as Demand Surges
QatarEnergy, one of the world's biggest LNG suppliers, signed a deal on Tuesday with Japan's top power generator Jera to supply 3 million tons of LNG annually for 27 years from 2028, further strengthening Qatar's position in the Japanese market.The agreement, made on the sidelines of the LNG2026 conference in Doha, would bolster QatarEnergy's position in Japan as competition intensifies from U.S. suppliers and Gulf rivals United Arab Emirates and Oman, which offer more flexible terms.It follows months of talks between the two firms.
OPEC+ agrees that oil production will remain unchanged despite Iran tensions
OPEC+ decided to keep its oil production unchanged for March during a meeting on Sunday, the producer group reportedly said. This was despite crude prices hitting six-month highs due to fears that the U.S. might launch a military attack on OPEC's member Iran. Brent crude oil closed at $70 a barge on Friday, near the $71.89 high it reached on Thursday. The eight OPEC+ member countries met as prices rose to a six-month peak. Saudi Arabia, Russia and the United Arab Emirates along with Kazakhstan…
Sources say that OPEC+ will not increase oil production in March due to the price spike.
Three OPEC+ delegates said that OPEC+ will likely?keep its planned pause for oil production increases in?March?" when it meets on Sunday. This is even though crude prices have reached six-month highs due to fears the U.S. might launch a strike against OPEC member Iran. The eight OPEC+ member countries met as Brent crude prices closed at $70 a bar on Friday. This was close to the?six-month peak of $71.89 on Thursday. Despite speculation about a glut of supply in 2026, it is expected that prices will fall.
Sources say that OPEC+ will pause oil production in March due to the price increase.
Five delegates said that OPEC+ will likely pause its oil production increases in March when it meets on Sunday. This is despite crude prices rising above $70 a barrel on fears the U.S. might launch a strike against OPEC member Iran. Brent crude is at its highest level since August. The eight OPEC+ member countries, who pump half of the world's oil supply, met as Brent crude prices rose to $72 a barrel. Saudi Arabia, Russia and the United Arab Emirates along with Kazakhstan…
Major Gulf bourses see gains as earnings season progresses
Investors focused on corporate earnings drove the early trading on Tuesday on major stock markets across the Gulf. Saudi Arabia's benchmark indices gained?0.4% led by an increase of 0.9% in Al?Rajhi bank. The bank's net profit was 24.79 billion Saudi riyals, up from 19.72 billion the year before. Al Rajhi announced a dividend of 1,75 riyals per share for the second quarter, a rise of nearly 20% compared to last year's same period. Other gainers include Saudi National?Bank, the largest lender in the country by assets.
ADNOC CEO: Oil demand will remain above 100 million barrels per day (bpd) through 2040
The head of the Abu Dhabi National Oil Company (ADNOC), said that 'global oil demand is expected to remain at or above 100 million barrels a day until 2040. Demand for both LNG and electricity are expected to grow 50% or more. The Managing Director and Chief Executive Officer?Sultan Ahmed Al Jaber said at the India Energy Week Conference?on?Tuesday that the electricity demand would be driven by a need to power cooling systems, AI infrastructure and data centers.
UAE utility withdraws Yemen and transfers solar energy plants to the government
Global South Utilities, based in Abu Dhabi, has handed over two solar power plants to Yemen's Public Electricity Corporation. This was after the?Yemeni government requested that all?Emirati firms leave the country. GSU informed Public Electricity Corporation in a letter of January 22 that all maintenance and operations teams had been evacuated from the Aden Solar Power Plant, with a capacity of 120 Megawatts (MW), as well as the 53 MW Shabwa solar plant. GSU stated that "Global South Utilities didn't suspend operations unilaterally" or "abruptly".
Egypt claims it has paid $5 billion in arrears to its foreign oil partners
Egypt's Prime Minister Mostafa. Madbouly announced that Egypt had paid $5 billion to foreign oil and gas partners in arrears and hopes to reduce the remaining debt to $1.2 billion by June 2026. He said that the arrears would be $6.1 billion by June 30, 2024. The?government will also pay the monthly invoices of the partners. Egypt's?foreign exchange shortage forced them to delay payments to international oil companies that operate in Egypt. This slowed investment and contributed to a decline in gas output…
Galp is focusing on upstream growth in Brazil and Namibia with its refining spin-off.
The co-chief executive of Galp, Joao diogo marques da Silva, said on Tuesday that the company will "focus" on growing its upstream oilfields business in Brazil and Namibia. It may also list some of its newly created downstream business within a few years. The company announced earlier this month that it was in discussions with Moeve, a private equity-backed firm, to combine their two businesses into two new?entities. One entity would focus on retailing and the other on refining.
India, UAE Sign $3b LNG Deal, Boost Trade and Defense Ties
India signed a $3 billion deal on Monday to buy liquefied natural gas from the United Arab Emirates, making it the UAE's top customer, as the leaders of both countries held talks to strengthen trade and defence ties.The agreement was signed during a very brief two-hour visit to India by UAE President Sheikh Mohammed bin Zayed Al Nahyan for talks with Indian Prime Minister Narendra Modi. They pledged to double bilateral trade to $200 billion in six years…
Gazprom Neft and MOL reach provisional agreement on the sale of NIS shares by Russia
Serbian Energy Minister Dubravka Djedovic Handanovic announced on Monday that Russia's Gazprom has reached an?agreement? to sell its majority share in Serbian refiner NIS, to Hungary's MOL. She told Video Plus that the Office of Foreign Assets Control of the U.S. Treasury Department, which imposed sanctions on NIS due to its Russian ownership, would need to approve the deal. NIS?supplies approximately 80% of Serbian fuels, including wholesale gasoline and diesel. The company also controls 50% of the retail market.
Engie continues to invest in Middle East renewables, as the momentum in US and Europe slows
Engie has reached the 'financial close on a 1.5 Gigawatt solar park, its largest in the world, said the French utility on Monday. The company is stepping up projects in the Middle East, a fast-growing market, amid a slowdown of renewable energy in the U.S. The Khazna Park is set to start commercial operations in the year 2028. It will provide electricity for 160,000 homes throughout the United Arab Emirates, under a 30-year agreement with Emirates Water and Electricity Company.
Masdar and EPCG in Montenegro to explore a joint venture for renewables
Montenegro’s state utility EPCG, and United Arab Emirates’ state-owned Masdar will explore establishing a joint venture to develop large-scale renewable energy projects in the Balkans. The ministry stated that the potential partnership would focus on projects in solar power, wind, hydropower and battery storage, as well as hybrid systems. Its goal is to meet the domestic demand for green energy and export it to the Balkans, Southeast Europe and Italy via the existing undersea connection between Montenegro and Italy.
Nigeria invests $2 billion to support energy transition
Nigeria's energy transition is being driven by green finance. The president announced plans on Tuesday for a $2 billion climate fund, saying that the oversubscribed green bond was proof of investor interest. Bola Tinubu, speaking at the Abu Dhabi Sustainability Week Summit, said that Nigeria's Climate Investment Platform was aiming to mobilize $500 million to build climate-resilient structures, and the National Climate Change Fund aims to raise $2 billion to fund?projects to reduce emissions and increase resilience.