Latest News

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  Saudi Arabia’s foreign property ownership milestone

  Administrator

  9 April 2026

  Saudi Arabia’s Real Estate Ownership Law, which came into force in January 2026, represents a significant and long-anticipated development in the kingdom’s approach to foreign ownership of real estate.

  It forms part of a broader evolution of the regulatory framework governing the sector, aimed at enhancing transparency, strengthening investor confidence, and supporting long-term market development in line with Vision 2030.

  As the framework begins to be implemented, market participants are increasingly focused on how these provisions will operate in practice and the implications for structuring real estate investments in the kingdom.

  Under the previous legislative framework, introduced in 2000, foreign ownership of Saudi property was more restricted. Ownership was generally limited to individuals or entities authorised to carry out professional or commercial activities in the kingdom, with property rights closely linked to those activities rather than broader investment or personal use.

  The law builds on this position by expanding both the categories of eligible owners and the scope of permitted real estate rights.

  The new law applies a broad definition of “non-Saudi”, encompassing foreign individuals, companies, non-profit organisations and other legal entities, within a structured and regulated framework.

  Expanding ownership rights

  Non-Saudi individuals, whether resident in the kingdom or abroad, may own real estate or acquire real property rights within designated geographical areas, as provided for under the implementing regulations.

  The law permits both ownership and the acquisition of other real property rights in accordance with applicable laws and regulations. In practice, this provides a clearer basis for foreign investors to assess how real estate interests may be structured within the kingdom.

  Non-Saudi residents are also permitted to own one residential property outside those designated areas. This does not extend to cities of religious significance, including Mecca and Medina, except where permitted under the applicable legal and regulatory framework.

  Foreign-owned Saudi companies may own real estate and acquire other real property rights necessary to conduct their licensed activities and to provide housing for employees, both within and outside designated geographical areas. This may, subject to applicable regulatory conditions, extend to properties in Mecca and Medina.

  While ownership in the holy cities remains subject to specific regulatory controls, the new law provides a more clearly defined framework under which foreign participation may be permitted in accordance with applicable requirements.  

  With respect to publicly listed companies, Saudi firms with foreign ownership listed on the Saudi Stock Exchange (Tadawul), as well as investment funds and special purpose entities, may own and acquire real property rights in the kingdom, including in Mecca and Medina, subject to compliance with the relevant regulatory framework.

  Registration, compliance and transactional framework

  The new Real Estate Ownership law introduces a structured compliance framework for foreign investors. It provides that all non-Saudis, whether corporations or individuals, are required to comply with applicable registration requirements with the competent authorities prior to owning real estate or acquiring other real property rights in the kingdom.

  The implementing framework sets out procedures that vary depending on the type of investor. For example:

  • Non-resident individuals are required to obtain a valid digital identity profile through the Ministry of Interior’s “Absher” platform, open a Saudi bank account, and obtain a Saudi contact number.
  • Foreign companies are required to register with the Ministry of Investment, ensure that their legal representatives hold valid identification issued in accordance with the kingdom’s regulations, disclose their ownership structures, and open a Saudi bank account.

  Ownership of real estate and the acquisition of related property rights will only be legally recognised once registration has been completed with the Real Estate Register in accordance with the applicable legal provisions. This reinforces transparency and legal certainty within the market.  

  The law also regulates the disposal of property interests. Where a non-Saudi sells, transfers or otherwise disposes of a real property right, a disposal fee capped at 5% of the transaction value is payable to the Real Estate General Authority. This fee applies in addition to any other taxes or charges. The applicable rate may vary depending on the type, purpose and location of the property right, as set out in the relevant regulations.

  Investors should also be aware of the law’s tiered penalty regime. Depending on the nature of the violation, penalties may range from a warning to fines capped at SR10m, with multiple penalties potentially applied for separate breaches.

  The law reflects the kingdom’s continued focus on enhancing the regulatory environment for real estate, within a structure designed to balance market access with appropriate regulatory oversight. For investors and developers, the practical significance of the law lies in the clarity it provides on how foreign ownership can be structured and implemented. In particular, requirements relating to registration, ownership eligibility and permitted use will be key considerations when assessing transactions and investment structures.

  As the implementing framework continues to develop, further detail, particularly in relation to designated geographical areas and the application of ownership rules in specific locations, will be important in shaping how the framework operates in practice.

  More broadly, the law forms part of a wider programme of reforms aimed at supporting the sustainable development of Saudi Arabia’s real estate market and reinforcing its long-term attractiveness for investment, in line with the objectives of Vision 2030.

  

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• 
  War in the Middle East recalibrates global energy markets

  Administrator

  9 April 2026

  

   

  The US and Israel’s war with Iran, and the disruption it is causing to oil and gas shipping, are having a deep impact on global energy markets and will have lasting effects on how decisions are made about energy production and consumption.

  In March, the director of the Paris-based International Energy Agency, Fatih Birol, said the world was “facing the greatest global energy security threat in history”, eclipsing even the 1973 oil crisis triggered by Opec’s oil embargo against countries that supported Israel during the Yom Kippur War.

  Iran’s effective closure of the Strait of Hormuz has highlighted the fragility of the Middle East oil and gas supply chain, and will incentivise import-dependent economies to pursue greater energy security.

  There are already signs around the world that this is taking place in a range of ways, including developing domestic fossil fuel reserves, accelerating nuclear projects, and investing in renewables and battery storage.

  At the same time, high oil and gas prices are spurring fossil fuel producers to increase investment in boosting output and protecting export routes, as they seek to maximise profits amid reduced global supplies.

  The oil price shocks of the 1970s shaped key oil and gas partnerships between Saudi Arabia and the US, and helped drive the development of strategic petroleum reserves, energy-efficiency policies and broader efforts to diversify energy supply.

  In a similar way, the current crisis is dramatically reshaping the global energy landscape, potentially eroding some of the key agreements that emerged in the 1970s and accelerating a new wave of diversification.

  Unparalleled crisis

  The scale of the current energy crisis is unprecedented, with global markets losing 11 million barrels a day (b/d) of oil supply due to the effective closure of the Strait of Hormuz.

  On top of this, 20% of the world’s LNG production cannot be shipped.

  This combined drop in available oil and gas is far larger than during the price shocks of the 1970s.

  In the 1973 crisis, the world lost around 5 million b/d of oil; the same was true of the second shock in 1979, following the Iranian Revolution.

  Deepening the current crisis, significant damage is being inflicted on oil and gas infrastructure across the Middle East, which is likely to take years to repair.

  Refineries have been attacked across the region, including in Iran, Kuwait, Bahrain and Saudi Arabia. There have also been multiple strikes on storage facilities, oil fields, gas processing facilities and shipping terminals.

  While the price shocks of the 1970s led to a global recession and had sweeping, long-term consequences for businesses and consumers worldwide, the latest crisis has the potential to be even more severe and is already causing major disruption in energy markets.

  Advisory firm Oxford Economics has forecast that, if the war is prolonged and the Strait of Hormuz remains closed for between three and six months, the result would be a global recession and world GDP growth would slow to 1.4% in 2026.

  Demand destruction

  Experts say the war is already driving oil and gas “demand destruction”, as governments, companies and households respond to price spikes and supply-chain fragility by reducing reliance on hydrocarbon imports.

  Decisions being made now to reorient away from oil and gas could have a lasting impact on future import demand worldwide.

  Even though it is less than two months since the war started, choices are already being made that could reduce demand for oil and gas in the years ahead.

  In Vietnam, conglomerate Vingroup has asked the government to allow it to replace a planned $6bn liquefied natural gas (LNG) power project – which would have been the country’s largest – with a renewable energy project, citing surging fuel prices linked to the Middle East conflict.

  Similarly, in New Zealand, plans to develop a new LNG import terminal on the country’s North Island are becoming increasingly uncertain. On 30 March, Prime Minister Christopher Luxon said the government would only approve the project if the business case stacked up, and it has been reported that officials are considering replacing it with a large hydroelectric project.

  Christopher Doleman, a gas specialist at the Institute for Energy Economics and Financial Analysis (Ieefa), said: “There were existing concerns about the high price of LNG and potential volatility and these concerns have increased significantly since the war began – leading several developers to consider other options, which in some cases include renewables projects.”

  At a consumer level, demand destruction is also taking place, as high prices for oil- and gas-linked products drive increased sales of solar panels and electric vehicles.

  In March, Octopus Energy, the UK’s largest supplier of domestic electricity and gas, said it had seen a sharp rise in solar panel sales during the price shock, with purchases up 54%.

  Also in the UK, March set a monthly record for electric car sales, with 137,000 vehicles sold — a 14% increase on the same period in 2025. Rising electric vehicle sales were also reported in the US and the EU.

  French used-car dealer Aramisauto said the share of its total sales accounted for by electric vehicles rose from 6.5% to 12.7% within three weeks of the start of the war. In Germany, the share of electric car search queries on the platform mobile.de rose from 12% to 36%, with dealers reporting 66% more enquiries for used electric cars than in February.

  Some Asian countries are also seeing a shift away from gas for cooking. In India, amid an ongoing liquefied petroleum gas shortage, electric stoves have seen a surge in demand, with some retailers reporting they sold three times their usual monthly volume in just a few days.

  The global shift away from fossil fuels — both in major power and import projects and at the consumer level — is likely to have significant long-term implications for energy demand.

  That would fundamentally alter demand forecasts for Middle East producers and could weigh on revenues in the years ahead.

  What we are seeing in the global energy sector is that there are very clear beneficiaries of the ongoing conflict … exporters that aren’t reliant on the Strait of Hormuz can take advantage of high oil prices to post profits and sanction new projects
  Slava Kiryushin, HFW

  Bolstered prospects

  While many Middle East oil and gas producers are seeing their exports severely restricted due to attacks on infrastructure and the disruption of shipments via the Strait of Hormuz, the war is bolstering the prospects of producers in other regions.

  High prices are delivering windfall profits, while investment is flowing towards projects perceived as less exposed to future attacks or a renewed blockade of the strait.

  Over time, these forces could contribute to a global divergence: Middle East producers could miss market-share targets, while suppliers elsewhere outperform.

  Commenting on the implications of the conflict, Slava Kiryushin, an international oil and gas lawyer and partner at London-headquartered law firm HFW, said: “There has already been a massive impact from this conflict on global energy markets. Producers in the GCC have been impacted more than others.

  “The most important factors right now are the damage caused to infrastructure from strikes on energy facilities and how quickly those can be remedied,” he said. “Even if this war ends tomorrow, many will remain concerned about political tensions in the region and the potential for future disruptions.

  “What we are seeing in the global energy sector is that there are very clear beneficiaries of the ongoing conflict … exporters that aren’t reliant on the Strait of Hormuz can take advantage of high oil prices to post profits and sanction new projects.”

  As revenues fall, repair costs rise and projects stall for national oil and gas companies in Saudi Arabia, Qatar, Iraq, Kuwait and Bahrain, companies active in regions including the US, Australia, Russia and Africa are seeing significant benefits.

  Despite Ukrainian strikes on key Russian oil infrastructure, Moscow has reported surging oil revenues as the war in Iran drives up global crude prices and boosts demand for Russian crude.

  In March, Ukraine’s Kyiv School of Economics (KSE) estimated Russia was earning about $760m a day from oil exports, benefitting from high prices and US sanctions waivers.

  Even if the conflict ends in the coming weeks, Russia’s annual oil and gas export revenues are projected to reach $218.5bn this year, up 63% from a scenario in which Middle East energy supplies remain uninterrupted, KSE said. That would amount to an additional $84bn in windfall revenue.

  US oil companies are also seeing bumper profits and higher share prices. Even as the broader US stock market has moved lower, ExxonMobil and Chevron shares have risen by more than 20% since the start of the year.

  Market research firm Rystad Energy has estimated that US oil producers could earn an additional $63bn in profit this year due to elevated prices.

  As producers outside the Middle East record large profits and ramp up output, some analysts argue the region’s future standing in global energy markets could be undermined.

  Commenting on the outlook for Qatari LNG, Doleman said: “Over the long term, the ongoing conflict could weaken Qatar’s bargaining position when the country is negotiating long-term gas contracts due to perceived risk associated with using the Strait of Hormuz.

  “Exports from other suppliers such as producers in the US or Australia could be viewed as more reliable and this could lead to the removal of resale restrictions and other elements that customers in Asia have been pushing back against for some time now.”

  Structural changes

  While uncertainty remains over how the war will end and how extensive future disruptions to energy supplies may be, it is increasingly likely the crisis will bring structural changes to global energy flows.

  There have already been shifts in energy relationships, with clients of GCC oil and gas producers seeking alternative suppliers and sanctions on Iranian and Russian oil being temporarily eased.

  While many of the arrangements made in the short period since the war began are likely to be temporary, some could become more durable over time.

  Iran has made the removal of sanctions one of its key demands to end the conflict with the US and Israel.

  With oil prices remaining high, many countries hit by rising energy costs would welcome the extension of sanctions waivers beyond existing deadlines, to keep crude supplies to global markets as high as possible.

  The scale and permanence of these changes will depend on how quickly the conflict can be resolved, and what assurances can be put in place to prevent it flaring up again.

  If the conflict is resolved quickly, it is possible that oil and gas sectors in Iraq and the GCC could see a significant rebound, returning towards pre-war operations.

  Prior to the war, low production costs in countries such as Saudi Arabia, Kuwait and Iraq made them among the most profitable exporters in the world, and analysts believe that cost advantage will support a recovery once the Strait of Hormuz reopens.

  “Though a lot of damage is being done, Middle East producers still have the advantage of some of the world’s cheapest and easiest-to-produce oil and gas,” Doleman said. “This means they are likely to retain their clients and a functioning business model once the Strait of Hormuz reopens.”

  However, if the conflict continues for an extended period, the prospect of a swift recovery would diminish and more dramatic structural changes to the global oil and gas industry would become more likely.

  That, in turn, could make the Middle East’s future role in global energy markets significantly smaller than previously forecast.

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  Wil Crisp
• 
  Kuwait floats Doha Port feasibility tender

  Administrator

  9 April 2026

  Register for MEED’s 14-day trial access 

  Kuwait Ports Authority has floated a tender inviting consultants to bid for a contract to undertake feasibility studies for the development of the Doha Port project, located on the southern side of Kuwait Bay in the Capital Governorate.

  The tender was issued on 5 April, with a bid submission deadline of 5 May.

  Doha Port is a key regional trade port in Kuwait that was handed over to Kuwait Ports Authority in 1977.

  The port primarily serves small ships and traditional vessels, facilitating trade with the GCC and other nearby countries.

  According to Kuwait Ports Authority, the port spans more than 388,000 square metres and currently has nine berths.

  The port’s storage area is over 270,000 sq m and it handles cargo volumes of about 115,869 tonnes, with capacity for 878 vessels.

  According to regional projects tracker MEED Projects, Kuwait completed construction works on the second phase of the port’s berths in 2021.

  Local firm Specialities Group Holding was awarded the construction contract in 2017.

  UK-headquartered analytics firm GlobalData expects Kuwait’s construction industry to record an average annual growth rate of 4.9% between 2026 and 2029, supported by investments in the oil and gas and renewable energy sectors.

  The infrastructure construction sector was expected to expand by 4% in real terms in 2025, before stabilising at an annual average growth rate of 5.1% from 2026 to 2029, supported by the government’s focus on cross-border projects to develop the country’s transport infrastructure.

  ---

  READ THE APRIL 2026 MEED BUSINESS REVIEW – click here to view PDF

  Economic shock threatens long-term outlook; Riyadh adjusts to fiscal and geopolitical risk; GCC contractor ranking reflects gigaprojects slowdown.

  Distributed to senior decision-makers in the region and around the world, the April 2026 edition of MEED Business Review includes:

  > AGENDA: Gulf economies under fire > GCC CONTRACTOR RANKING: Construction guard undergoes a shift > MARKET FOCUS: Risk accelerates Saudi spending shift > LEGAL: Redefining the region’s arbitration landscape > QATAR LNG: Qatar’s new $8bn investment heats up global LNG race > INTERVIEW: Leyla Abdimomunova, National Development Division, PIF > LEADERSHIP: Shaping the future of passenger rail in the Middle East

  To see previous issues of MEED Business Review, please click here

   

  

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  Yasir Iqbal
• 
  Bahrain and UAE sign $5.3bn currency swap deal

  Administrator

  9 April 2026

  The Central Bank of Bahrain (CBB) and the Central Bank of the United Arab Emirates (CBUAE) have formalised a currency swap agreement worth BD2bn or AED20bn ($5.3bn) to help deepen financial and monetary ties between the countries.

  The agreement, which carries a five-year tenor, was signed during a virtual ceremony by Khaled Mohamed Balama, governor of the CBUAE, and Khalid Humaidan, governor of the CBB.

  The primary objective of the swap is to enhance liquidity management and support the use of local currencies in bilateral trade and investment. By providing a framework for the exchange of the Bahraini Dinar and the UAE Dirham, the central banks aim to reduce transaction costs and mitigate exchange rate risks for commercial entities operating across the two borders.

  Balama said the move reaffirms a shared commitment to expanding financial and monetary cooperation and advancing cooperation frameworks between central banks. He noted that the facility will contribute to enhanced financial stability and the deepening of regional partnerships while promoting the use of local currencies in official and commercial transactions.

  For Bahrain and the UAE, the swap agreement serves as a safety net, reinforcing confidence in their respective financial systems. It aligns with a broader trend among GCC member states to integrate their financial markets and streamline economic activity as part of wider diversification efforts.

  Humaidan said the agreement is a significant milestone that reflects the longstanding ties between the two nations. He emphasised that the initiative is expected to stimulate economic growth by easing capital flows and reinforcing financial stability through enhanced coordination.

  ---

  READ THE APRIL 2026 MEED BUSINESS REVIEW – click here to view PDF

  Economic shock threatens long-term outlook; Riyadh adjusts to fiscal and geopolitical risk; GCC contractor ranking reflects gigaprojects slowdown.

  Distributed to senior decision-makers in the region and around the world, the April 2026 edition of MEED Business Review includes:

  > AGENDA: Gulf economies under fire > GCC CONTRACTOR RANKING: Construction guard undergoes a shift > MARKET FOCUS: Risk accelerates Saudi spending shift > LEGAL: Redefining the region’s arbitration landscape > QATAR LNG: Qatar’s new $8bn investment heats up global LNG race > INTERVIEW: Leyla Abdimomunova, National Development Division, PIF > LEADERSHIP: Shaping the future of passenger rail in the Middle East

  To see previous issues of MEED Business Review, please click here

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  Colin Foreman
• 
  Oman finalises PPA extensions for 3.5GW plants

  Administrator

  9 April 2026

  Oman has secured up to 3,567MW of gas-fired capacity through new 15-year power purchase agreements (PPAs) with three existing independent power producers (IPPs).

  Phoenix Power Company, Al-Suwadi Power Company and Al-Batinah Power Company confirmed in separate filings on the Muscat Stock Exchange (MSX) that PPA extensions had been signed with Nama Power & Water Procurement Company (Nama PWP) and will come into effect upon the expiry of their current 15-year agreements.

  The new PPAs were signed on 6 April by Phoenix Power and on 7 April by Al-Batinah Power and Al-Suwaidi Power.

  Phoenix Power Company operates the 2,000MW Sur IPP. It is owned by a consortium of international and regional investors, including Japan’s Marubeni Corporation and Chubu Electric Power, Qatar’s Nebras Power, Qatar Electricity & Water Company and Multitech of Oman’s Bahwan Engineering Company.

  Al-Batinah Power Company and Al-Suwadi Power Company operate the 750MW Sohar 2 IPP and the 750MW Barka 3 IPP, respectively.

  In March, Nama PWP had issued letters of award (LOA) to the three owner-operators for new PPAs.

  According to regional projects tracker MEED Projects, Nama PWP signed the original PPA for the Barka 3 project in 2010 with a consortium led by Gaz de France (GDF) Suez under a special purpose vehicle called Al-Suwadi Power Company.

  The shareholders comprised GDF Suez (46%), Bahwan Engineering Company (22%), Shikoku Electric Power Corporation (11%), Sojitz Corporation (11%) and the Public Authority for Social Insurance (10%).

  In 2015, GDF Suez was rebranded as Engie following a strategic shift towards low-carbon energy and utilities.

  New agreements

  The new agreements for Sohar 2 and Barka 3 will take effect on 1 April 2028 and run until 31 March 2043. The agreement for the Sur IPP will commence on 1 April 2029 and run until 31 March 2044.

  The awards form part of Nama PWP’s 2028-29 procurement programme. The programme aims to secure firm generation capacity from existing assets whose current PPAs are due to expire during that period.

  In Oman, IPP projects are developed under a build-own-operate model. This allows plant operators to continue running assets beyond the initial PPA term, either through contract extensions or by selling power into a future electricity market.

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  Mark Dowdall
• 
  Egypt signs contracts worth $740m for two chemical projects

  Administrator

  9 April 2026

  Register for MEED’s 14-day trial access 

  Two contracts totalling $740m have been signed for planned chemical projects to be developed in Egypt.

  The Indorama Egypt Fertiliser project will be established in the Sokhna Industrial Zone on a site covering 522,000 square metres (sq m), with planned investments of $525m for the first phase.

  The project is expected to provide up to 2,500 direct job opportunities during the operational phase, in addition to 500 jobs during the construction stage.

  It will establish an integrated industrial complex for fertilisers and basic chemicals, with an annual production capacity of up to 600,000 tonnes in the first phase.

  This will include the production of phosphate fertilisers and a range of related products, such as rock phosphate, ammonia, sulfur, potash and urea, along with specialised chemicals such as zinc sulfate, boric acid and sodium molybdate.

  The complex is designed to support agricultural and industrial supply chains, with around 80% of production directed towards exports.

  The contract was signed by Moustafa Sheikhon, the vice-president of the General Authority of Sokhna Industrial Zone, and Mukul Agarwal, the chief executive of Indorama.

  The second contract was for the planned Polyserve Egyptian chemicals project, which is expected to be worth $215m.

  The project is also being developed in the Sokhna Industrial Zone.

  It is being developed on an area of 650,000 sq m, and will be designed with a nameplate capacity of 3.5 million tonnes a year.

  The contract was signed by Sheikhon and Mostafa El-Gabaly, the chief executive of Polyserve for Fertilisers & Chemicals.

  Polyserve is a diversified Egyptian firm with operations spanning mining, fertilisers and chemicals.

  Its portfolio includes the production of sulfuric and phosphoric acids as well as specialty and compound fertilisers.

  ---

  MEED’s March 2026 report on Egypt includes:

  > COMMENT: Egypt’s crisis mode gives way to cautious revival
  > GOVERNMENT: Egypt adapts its foreign policy approach
  > ECONOMY & BANKING: Egypt nears return to economic stability
  > OIL & GAS: Egypt’s oil and gas sector shows bright spots
  > POWER & WATER: Egypt utility contracts hit $5bn decade peak
  > CONSTRUCTION: Coastal destinations are a boon to Egyptian construction

  To see previous issues of MEED Business Review, please click here

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  Wil Crisp
• 
  Kuwait Petroleum Corporation awards cybersecurity contract

  Administrator

  9 April 2026

  

   

  State-owned Kuwait Petroleum Corporation (KPC) has awarded a cybersecurity contract to Automated Systems Company, based in the Kuwait Free Trade Zone at Shuwaikh Port.

  The scope of the contract includes supplying, installing, operating and maintaining the company’s cybersecurity training and awareness platform.

  The award, worth KD7,998 ($26,000), was made amid heightened concerns about cyber-attacks by Iran.

  On 8 April, US security agencies issued a warning of Iran-affiliated cyber-attacks on critical infrastructure across the US.

  In a joint statement, the agencies said municipalities should be on the lookout for unusual activity, especially around water and energy facilities.

  The agencies that issued the joint advisory included the EPA, the FBI, the Cybersecurity and Infrastructure Security Agency, the National Security Agency, the Department of Energy and the US Cyber Command.

  Last month, the US FBI director Kash Patel’s personal email account was hacked by an Iran-linked group, according to the agency.

  A group known as the Handala Hack Team shared Patel’s purported resume and photos of him on its website, along with a statement that read: “This is just our beginning.”

  Kuwait’s oil and gas sector has been severely impacted by the conflict that broke out after the US and Israel attacked Iran on 28 February.

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  READ THE APRIL 2026 MEED BUSINESS REVIEW – click here to view PDF

  Economic shock threatens long-term outlook; Riyadh adjusts to fiscal and geopolitical risk; GCC contractor ranking reflects gigaprojects slowdown.

  Distributed to senior decision-makers in the region and around the world, the April 2026 edition of MEED Business Review includes:

  > AGENDA: Gulf economies under fire > GCC CONTRACTOR RANKING: Construction guard undergoes a shift > MARKET FOCUS: Risk accelerates Saudi spending shift > LEGAL: Redefining the region’s arbitration landscape > QATAR LNG: Qatar’s new $8bn investment heats up global LNG race > INTERVIEW: Leyla Abdimomunova, National Development Division, PIF > LEADERSHIP: Shaping the future of passenger rail in the Middle East

  To see previous issues of MEED Business Review, please click here

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  Wil Crisp
• 
  Kuwait sets May deadlines for four oil projects

  Administrator

  9 April 2026

  State-owned upstream operator Kuwait Oil Company (KOC) has pushed back bid deadlines to May for four projects amid ongoing regional security concerns.

  KOC’s project to develop substations to supply power to industrial lift pumps and remote vertical manifolds in East and South Kuwait has had its bid deadline changed from 5 April to 3 May 2026.

  A tender for a project to develop electrical substations within the Greater Burgan oil field system has also been delayed.

  The substations are due to be developed in Zone C of the Magwa field, and Zones H and I of the Burgan field.

  The bid deadline has been changed from 7 April to 5 May.

  KOC has also pushed back the bid submission deadline for another project to develop electrical substations, focused on substations in Zone F of the Ahmadi field as well as Zones F and G of the Burgan field.

  The project includes associated 123kV overhead lines, and the bid deadline has been moved from 7 April to 5 May.

  A tender for a project to construct a new 123kV electrical station in Zone A of the Bahra field has also seen its bid deadline extended from 7 April to 5 May. The project includes 123kV overhead lines.

  ---

  READ THE APRIL 2026 MEED BUSINESS REVIEW – click here to view PDF

  Economic shock threatens long-term outlook; Riyadh adjusts to fiscal and geopolitical risk; GCC contractor ranking reflects gigaprojects slowdown.

  Distributed to senior decision-makers in the region and around the world, the April 2026 edition of MEED Business Review includes:

  > AGENDA: Gulf economies under fire > GCC CONTRACTOR RANKING: Construction guard undergoes a shift > MARKET FOCUS: Risk accelerates Saudi spending shift > LEGAL: Redefining the region’s arbitration landscape > QATAR LNG: Qatar’s new $8bn investment heats up global LNG race > INTERVIEW: Leyla Abdimomunova, National Development Division, PIF > LEADERSHIP: Shaping the future of passenger rail in the Middle East

  To see previous issues of MEED Business Review, please click here

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  Wil Crisp