Baker Hughes has been awarded the 2026 SAP Global Partner Award in the Intelligent App Innovation category, recognizing its contributions to advancing digital solutions and strengthening its collaboration with SAP.
TotalEnergies, the integrated multi-energy company, and Abu Dhabi Future Energy Company (Masdar), the UAE-based global renewable energy company, signed a binding agreement to establish a 50/50 joint venture (JV) with an investment allocation of $2.2 billion to combine their onshore renewable energy businesses across nine Asian markets.
A fire broke out in the Fujairah Oil Industry Zone (FOIZ) following a suspected drone incident, the UAE News Agency reported on May 4. Civil defense teams responded immediately and are working to contain the fire.
Norway’s Equinor and its partners Vaar Energi and Petoro have announced a new oil discovery in the Norwegian sector of the Arctic Barents Sea. The find is located around 16 km from the Johan Castberg field, one of Norway’s key offshore developments in the region.
Australia’s Macquarie Group has pulled out of a planned bid for a stake in Kuwait’s oil pipeline network, in a deal valued at up to $7 billion, according to sources familiar with the matter, as geopolitical tensions weigh on investor sentiment in the Gulf.
Daily oil exports from the Middle Eastern Gulf have fallen sharply amid ongoing disruptions linked to the US -Iran war, with flows dropping by more than 60% in the week ending March 15 compared to February levels, according to shipping data and industry estimates.
Eni has announced two new natural gas discoveries offshore Libya following a recent exploration campaign, reinforcing its position as a leading international operator in the country. The discoveries were made in two adjacent structures, Bahr Essalam South 2 (BESS 2) and Bahr Essalam South 3 (BESS 3).
The International Energy Agency (IEA) said more than 400 million barrels (mmbbl) of oil from emergency reserves will start entering global markets soon as part of a coordinated effort to ease a surge in crude prices following the outbreak of the Iran war.
TotalEnergies reported that production in Qatar, Iraq, and offshore UAE is either halted or in the process of shutting down, representing around 15% of the company’s total output. Onshore UAE production, estimated at 210,000 barrels per day (b/d) (TotalEnergies’ share), remains unaffected by the ongoing regional tensions.
Iran has permitted two Indian-flagged liquefied petroleum gas (LPG) carriers to pass through the Strait of Hormuz, sources with direct knowledge said to Reuters, marking a rare exception to Tehran’s blockade that has disrupted global energy shipments.
