AVEVA Unveils Industrial AI Deals With IFS, Snowflake, AWS at Milan Summit

• Wednesday, 20th May 2026
• by Sarah Samir

Global software leader AVEVA and the Swedish multinational software company Industrial and Financial Systems (IFS) announced a technology partnership to help industrial organizations connect operational intelligence, enterprise execution, and strategic capital planning.
AVEVA collaborated with Snowflake, the AI Data Cloud company, to unify, govern, and activate data across information technology (IT) and operational technology (OT) environments.
Additionally, AVEVA and Amazon Web Services (AWS) executed a multi-year Strategic Collaboration Agreement (SCA) to accelerate cloud-based industrial intelligence delivery.

Energean Lowers Production Guidance in 2026, Dividend Amid Israel Disruptions

• Wednesday, 20th May 2026
• by Fatma Ahmed

Energean lowered its 2026 production guidance and reduced its dividend after a 41-day suspension of operations in Israel weighed on its first-quarter performance. The company, which operates natural gas and oil assets across Israel, Greece, the UK and other Mediterranean regions, now expects full-year production of 130,000 to 140,000 barrels of oil equivalent per day (boe/d), down from its previous forecast of 140,000 to 150,000 boe/d. Its production outlook for Israel was also revised lower to 98,000–104,000 boe/d from 108,000–114,000 boe/d.

Halliburton Introduces Advanced Solution for Complex Reservoirs

• Tuesday, 19th May 2026
• by Fatma Ahmed

Halliburton has launched the Xaminer® Deep Testing logging service, the latest addition to its Reservoir Xaminer™ formation testing portfolio, aimed at enhancing early-stage reservoir evaluation and decision-making.

The Xaminer Deep Testing logging service allows operators, in a single run, to identify fluids and reservoir boundaries, assess connectivity, and evaluate overall reservoir potential ahead of full-scale testing.

US Waiver on Russian Oil Purchases Expires

• Sunday, 17th May 2026
• by Fatma Ahmed

The Trump administration allowed a sanctions waiver that had enabled countries, including India, to buy Russian seaborne crude, to lapse

UAE to Double Oil Exports by 2027 With New Fujairah Pipeline Bypassing Hormuz

• Sunday, 17th May 2026
• by Fatma Ahmed

The UAE will accelerate construction of a new oil pipeline to the port of Fujairah, aiming to double export capacity by 2027, according to the Abu Dhabi Media Office. Crown Prince Sheikh Khaled bin Mohamed bin Zayed directed Abu Dhabi National Oil Company (ADNOC), UAE state-owned energy company, to fast-track the West-East Pipeline project, which is already under construction and expected to begin operations next year.

Libya’s NOC Ends Trasta Partnership, Restores Full Control of Ras Lanuf Complex

• Thursday, 14th May 2026
• by Fatma Ahmed

Libya’s National Oil Corporation (NOC) has signed a final agreement with Trasta Company, officially ending their long-running partnership in the Libyan Emirates Oil Refining Company (LERCO) after more than a decade of legal and arbitration disputes, paving the way for the Ras Lanuf refinery and petrochemical complex to return to full Libyan ownership and management.

OPEC Cuts 2026 Oil Demand Forecast Amid Strait of Hormuz Closure

• Thursday, 14th May 2026
• by Fatma Ahmed

OPEC reduced its forecast for global oil demand growth in 2026, citing the impact of the ongoing war in Iran that has effectively shut the Strait of Hormuz, a critical global oil transit route. The closure has curtailed millions of barrels of Middle East supply, driving fuel prices higher and prompting governments to adopt conservation measures.

IEA Warns of Oil Supply Deficit in 2026

• Wednesday, 13th May 2026
• by Sarah Samir

Global oil supply is expected to fall short of demand this year, as the war in Iran severely disrupts Middle East production, Reuters reported citing the International Energy Agency’s (IEA) monthly oil market report.
This comes as global supply in 2026 is projected to fall short of demand by 1.78 million barrels per day (b/d), overturning last month’s forecast of a 410,000 b/d surplus and December’s estimate of nearly 4 million b/d in excess supply.

ADNOC Drilling to Boost UAE’s Oil Production Capacity

• Wednesday, 13th May 2026
• by Sarah Samir

The Abu Dhabi-listed ADNOC Drilling Company is ready to boost the United Arab Emirates’ (UAE) oil production capacity beyond the planned 5 million barrels per day (b/d) by 2027, should official approval be granted, the company’s CFO, Youssef Salem, told Reuters.

TotalEnergies, QatarEnergy, ConocoPhillips to Evaluate Offshore Syria Block

• Wednesday, 13th May 2026
• by Fatma Ahmed

TotalEnergies, alongside partners QatarEnergy and ConocoPhillips, has signed a Memorandum of Understanding (MoU) with the Syrian Petroleum Company (SPC) to evaluate Block 3 offshore Syria in the Mediterranean Sea.