/main-category/energy en /node/2615369/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/206261">MOHAMMED AL-KINANI</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Mon, 2025-09-15 13:27</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> JEDDAH: Egypt has signed three oil and gas agreements worth over $121 million with international firms, boosting its energy sector through new exploration and drilling projects across key hydrocarbon zones.</p> <p> The move is part of the Ministry of Petroleum and Mineral Resources’ strategy to attract international investment and expand exploration activities in the North African country.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/09/15/4639726-1664091093.png" width="2644" height="1484" alt="" title="Karim Badawi, minister of petroleum and mineral resources, witnessed the signing of the agreements. Facebook/EgyptianCabinet" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/category/tags/oil">Oil</a></div><div class="field-item odd"><a href="/tags/oil-wells">oil wells</a></div><div class="field-item even"><a href="/tags/egypt-economy">Egypt economy</a></div></div></div> Mon, 15 Sep 2025 10:40:44 +0000 owen.bennett 2615369 at /node/2615065/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/rbitem-author/arab-news">Arab News</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Fri, 2025-09-12 15:20</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: A $500 million financing deal has been struck to help fund a direct electricity interconnection project between the Gulf Cooperation Council and Oman.</p> <p> The GCC Interconnection Authority and Sohar International Bank have signed an agreement for the project, which includes the construction of a double-circuit 400 kilovolt power line linking the UAE’s Al-Silaa station and a station that the Authority will build in Oman.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/09/12/4638892-1070059234.jpg" width="1000" height="670" alt="" title="The agreement aims to enhance energy security at the regional level and increase opportunities for energy trade and exchange between GCC countries. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/oman">Oman</a></div><div class="field-item odd"><a href="/tags/electricity-0">electricity</a></div><div class="field-item even"><a href="/tags/gulf-cooperation-council-interconnection-authority">Gulf Cooperation Council Interconnection Authority</a></div><div class="field-item odd"><a href="/tags/sohar-international-bank">Sohar International Bank</a></div></div></div> Fri, 12 Sep 2025 14:06:21 +0000 owen.bennett 2615065 at /node/2614934/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/miguel-hadchity%C2%A0">MIGUEL HADCHITY </a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2025-09-11 16:28</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: ����ֱ�� has granted the Syrian Arab Republic 1.65 million barrels of crude oil under the directives of King Salman and Crown Prince Mohammed bin Salman. </p> <p> The donation was formalized through a memorandum of understanding signed by Sultan bin Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development, and Mohammed Al-Bashir, Syria’s Minister of Energy, the Saudi Press Agency reported.  </p> <p> The signing ceremony was attended by Saudi Ambassador to Syria Faisal Al-Majfel and Majid Al-Uteibi, deputy minister for Oil and Gas Technical and Regulatory Affairs. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/09/11/4638599-780179587.jpeg" width="4096" height="2764" alt="" title="The donation was formalized through a memorandum of understanding signed by Sultan bin Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development, and Mohammed Al-Bashir, Syria’s Minister of Energy. (SPA)" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/category/tags/syria">Syria</a></div><div class="field-item odd"><a href="/category/tags/oil">Oil</a></div></div></div> Thu, 11 Sep 2025 13:32:47 +0000 ameen.syed 2614934 at /node/2614709/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/rbitem-author/arab-news">Arab News</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Tue, 2025-09-09 21:47</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Aramco Executive Vice President of Technology and Innovation Ahmad O. Al-Khowaiter on Tuesday emphasized greater collaboration to advance innovative solutions in water conservation and energy sustainability.</p> <p> According to a press release, the top official was speaking at the Global Water, Energy and Climate Change Congress in Bahrain. It said that Al-Khowaiter highlighted the company’s commitment to advancing solutions in water conservation and energy efficiency, emphasizing that collaborative innovation is key to meaningful change.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/09/09/4638040-1038662943.jpg" width="1200" height="716" alt="" title="Aramco Executive Vice President of Technology and Innovation Ahmad O. Al-Khowaiter speaks at an event in Bahrain on Tuesday. (Supplied)" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/aramco-0">Aramco</a></div><div class="field-item odd"><a href="/tags/ahmad-al-khowaiter">Ahmad Al-Khowaiter</a></div><div class="field-item even"><a href="/tags/energy-sustainability">Energy sustainability</a></div><div class="field-item odd"><a href="/tags/water-conservation">water conservation</a></div></div></div> Tue, 09 Sep 2025 18:55:17 +0000 Sajjadkk 2614709 at /node/2614020/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/ghaleb-darwesh">Ghaleb Darwesh</a></div><div class="field-item odd"><a href="/article-authors/independent-arabia">Independent Arabia</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Wed, 2025-09-03 18:06</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> Global oil markets are at a “critical turning point” as low investment, economic uncertainty, and rising crude supplies deepen what industry leaders describe as the “triple energy challenge,” according to a top Arab energy official.</p> <p> In an interview with Independent Arabia, Jamal Al-Loughani, secretary-general of the Arab Energy Organization, formerly OAPEC, said that geopolitical and trade tensions, coupled with shifting economic policies, are weighing on global oil demand, even as production climbs.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/09/03/4636233-1519724389.jpg" width="1000" height="667" alt="" title="Current estimates put global crude demand growth at roughly 1.2 million barrels a day in the third quarter of 2025. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/arab-energy-organization-aeo">Arab Energy Organization (AEO)</a></div><div class="field-item odd"><a href="/tags/jamal-al-loughani">Jamal Al-Loughani</a></div></div></div> Wed, 03 Sep 2025 15:31:34 +0000 sarah.glubb 2614020 at /node/2613852/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nour-el-shaeri%C2%A0%C2%A0">Nour El-Shaeri  </a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Tue, 2025-09-02 12:52</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Egypt has allocated 136.3 billion Egyptian pounds ($2.8 billion) to the electricity and renewable energy sector in its 2025-26 development plan, nearly double the 72.6 billion pounds set aside last year, according to the Ministry of Planning.</p> <p> The plan emphasizes energy diversification, expanding renewable power, and strengthening the national grid to meet rising demand.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/09/02/4635803-912106648.jpg" width="1000" height="667" alt="" title="The plan focuses on energy diversification, a greater reliance on renewables, and expanding national grid capacity to meet growing demand, the Ministry of Planning said in a statement. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/egypt">Egypt</a></div><div class="field-item odd"><a href="/tags/power-sector">Power Sector</a></div><div class="field-item even"><a href="/tags/energy-0">energy</a></div></div></div> Tue, 02 Sep 2025 10:03:03 +0000 ameen.syed 2613852 at /node/2613722/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Mon, 2025-09-01 10:56</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> SINGAPORE: Oil prices traded in a tight range on Monday as worries about rising output and the impact of US tariffs on demand offset supply disruptions stemming from intensified Russia-Ukraine airstrikes.</p> <p> Brent crude fell 30 cents, or 0.44 percent, to $67.18 a barrel by 7:00 a.m. Saudi time, while US West Texas Intermediate crude was at $63.73 a barrel, down 28 cents, or 0.44 percent. Trading is expected to be muted due to a US bank holiday.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/09/01/4635476-1492606583.jpg" width="960" height="684" alt="" title="A view shows a pressure gauge near oil pump jacks outside Almetyevsk, in the Republic of Tatarstan, Russia. File/Reuters" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/oil-updates%C2%A0">Oil Updates </a></div><div class="field-item odd"><a href="/tags/oil-prices">oil prices</a></div></div></div> Mon, 01 Sep 2025 08:01:33 +0000 sarah.glubb 2613722 at /node/2613652/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/rbitem-author/arab-news">Arab News</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Sun, 2025-08-31 18:47</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Saudi Aramco has kept its official selling prices for liquefied petroleum gas unchanged for September 2025, maintaining the same levels as the previous month. Propane is priced at $520 per tonne, while butane remains at $490 per tonne, according to an official statement issued on Sunday.</p> <p> LPG, which includes propane and butane, is widely used for residential heating, cooking, transportation, and as a petrochemical feedstock.</p> <p> Aramco’s monthly pricing serves as a benchmark for exports from the Gulf to Asia, the world’s largest LPG-consuming region.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/08/31/4635311-1133846455.jpeg" width="5184" height="3456" alt="LPG, which includes propane and butane, is widely used for residential heating, cooking, transportation, and as a petrochemical feedstock. File" title="LPG, which includes propane and butane, is widely used for residential heating, cooking, transportation, and as a petrochemical feedstock. File" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/aramco-0">Aramco</a></div><div class="field-item odd"><a href="/tags/lpg">LPG</a></div></div></div> Sun, 31 Aug 2025 15:51:09 +0000 shahrukh.jamshed 2613652 at /node/2613273/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2025-08-28 10:06</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> BEIJING/SINGAPORE: Oil prices fell on Thursday after rising in the previous session as investors weighed expectations for lower US fuel demand with the end of the summer demand season nearing and awaited India’s response to punitive US tariffs.</p> <p> Brent crude futures dropped 50 cents, or 0.73 percent, to $67.55 at 9:43 a.m. Saudi time, and West Texas Intermediate crude futures declined 51 cents, or 0.80 percent, to $63.64.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/08/28/4634320-1046230621.jpg" width="1000" height="667" alt="" title="Brent crude futures dropped 50 cents, or 0.73 percent, to $67.55 at 9:43 a.m. Saudi time. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/oil-updates">oil updates</a></div><div class="field-item odd"><a href="/tags/oil-prices">oil prices</a></div></div></div> Thu, 28 Aug 2025 07:13:57 +0000 owen.bennett 2613273 at /node/2613158/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Wed, 2025-08-27 10:43</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> NEW DELHI: Oil prices steadied on Wednesday, after falling in the previous session, as investors watched for fresh developments in the Ukraine war and weighed hefty new US tariffs on India, the world’s third-biggest crude consumer.<br /> Brent crude futures fell 9 cents to $67.13 per barrel at 8:33 a.m. Saudi time, while West Texas Intermediate crude futures were down 8 cents at $63.17.<br /> Both contracts fell more than 2 percent on Tuesday after beginning the week at a two-week high.<br /></p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/08/27/4633978-1466875026.jpg" width="3840" height="2581" alt="" title="Workers walk as oil pumps are seen in the background in the Uzen oil and gas field in the Mangistau Region of Kazakhstan. File/Reuters" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/oil-updates%C2%A0">Oil Updates </a></div><div class="field-item odd"><a href="/tags/oil-prices">oil prices</a></div><div class="field-item even"><a href="/tags/brent-crude">Brent crude</a></div></div></div> Wed, 27 Aug 2025 07:55:21 +0000 sarah.glubb 2613158 at /node/2613074/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Tue, 2025-08-26 14:24</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> CAIRO: Work is underway at three new wells in the Zohr gas field in the Mediterranean in the current financial year, Egypt's petroleum ministry said on Tuesday.<br /> Another well, the Zohr-6 well, has added about 65 million cubic feet per day of gas to Egypt’s output, the ministry added.<br /> Italian energy group Eni, Zohr's operator, resumed drilling at the Zohr field in February after production was curbed because of arrears owed to foreign oil companies.<br /></p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/08/26/4633771-1328003885.jpg" width="1000" height="749" alt="" title="Zohr was discovered in 2015 by Eni and began producing gas in late 2017. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/zohr-gas-field">Zohr gas field</a></div><div class="field-item odd"><a href="/tags/egypt">Egypt</a></div></div></div> Tue, 26 Aug 2025 11:29:23 +0000 sarah.glubb 2613074 at /node/2613048/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Tue, 2025-08-26 10:13</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> LONDON: Oil prices fell on Tuesday after surging nearly 2 percent in the previous session as traders monitor developments surrounding the war in Ukraine and potential disruption to Russian fuel supplies.</p> <p> Brent crude was down 51 cents, or 0.7 percent, at $68.29 a barrel by 11:10 a.m. Saudi time, having hit its highest since early August in the previous session. West Texas Intermediate crude lost 57 cents, or about 0.9 percent, to $64.23.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/08/26/4633716-660066958.jpg" width="1000" height="534" alt="" title="Brent crude was down 51 cents, or 0.7 percent, at $68.29 a barrel by 11:10 a.m. Saudi time. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/oil-updates">oil updates</a></div><div class="field-item odd"><a href="/tags/oil-prices">oil prices</a></div></div></div> <span class="label abs-el uppercase update"> Update </span> Tue, 26 Aug 2025 07:29:46 +0000 owen.bennett 2613048 at /node/2612851/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nour-el-shaeri-0">Nour El-Shaeri</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Sun, 2025-08-24 13:51</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Saudi utility firm ACWA Power has finalized SR12.8 billion ($3.4 billion) in non-recourse financing to build two large-scale gas-fired power plants, bolstering the Kingdom’s generation capacity as electricity demand rises. </p> <p> The facilities, which include Rumah-1 in the Riyadh region and Al-Nairiyah-1 in the Eastern Province, will each produce 1,800 megawatts, adding a combined 3.6 gigawatts to the grid. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/08/24/4633200-346657026.jpg" width="1056" height="590" alt="" title="ACWA Power is a central player in the National Renewable Energy Program. File/ACWA Power" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/acwa-power">ACWA Power</a></div><div class="field-item odd"><a href="/category/tags/saudi-arabia">����ֱ��</a></div></div></div> Sun, 24 Aug 2025 10:59:33 +0000 sarah.glubb 2612851 at /node/2612845/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/miguel-hadchity">Miguel Hadchity</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Sun, 2025-08-24 12:53</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Oil and gas will remain the backbone of global energy markets despite growing momentum for renewables, the Arab Energy Organization’s secretary-general said, urging the region to broaden its energy mix. </p> <p> Speaking at the release of the AEO’s second-quarter 2025 monitoring report on renewable energy, energy transition, and climate change, Jamal Al-Loughani said the region must adopt multiple energy sources. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/08/24/4633194-2141417257.jpeg" width="1074" height="765" alt="" title="Jamal Al-Loughani, the secretary-general of the Arab Energy Organization. KUNA" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/jamal-al-loughani">Jamal Al-Loughani</a></div><div class="field-item odd"><a href="/tags/arab-energy-organization-aeo">Arab Energy Organization (AEO)</a></div><div class="field-item even"><a href="/tags/energy-0">energy</a></div><div class="field-item odd"><a href="/tags/renewable-energy">Renewable Energy</a></div><div class="field-item even"><a href="/tags/oil-and-gas">oil and gas</a></div></div></div> Sun, 24 Aug 2025 10:07:09 +0000 sarah.glubb 2612845 at /node/2612643/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Fri, 2025-08-22 09:58</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> LONDON: Oil prices were stable on Friday as hopes for an imminent peace deal between Russia and Ukraine dimmed, putting prices on track for their first weekly gain in three weeks.</p> <p> Brent crude futures were up 8 cents, or 0.1 percent, at $67.75 a barrel by 11:15 a.m. Saudi time. West Texas Intermediate crude futures rose 12 cents, or 0.2 percent, to $63.64.</p> <p> Both contracts gained more than 1 percent in the previous session. Brent has risen 2.8 percent so far this week while WTI is up 1.4 percent.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/08/22/4632661-1285729383.jpg" width="1000" height="667" alt="" title="Brent crude futures were up 8 cents, or 0.1 percent, at $67.75 a barrel by 11:15 a.m. Saudi time. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/oil-updates">oil updates</a></div><div class="field-item odd"><a href="/tags/oil-prices">oil prices</a></div></div></div> <span class="label abs-el uppercase update"> Update </span> Fri, 22 Aug 2025 07:01:38 +0000 owen.bennett 2612643 at