Cop28 must deliver on promises
25 October 2023
Commentary
Jennifer Aguinaldo
Energy & technology editor

There is a good chance that the average delegate attending the 2023 Conference of the Parties of the UN Framework Convention on Climate Change (Cop28) will skip visiting or driving past the key clean energy installations in the UAE.
These include the wind turbines on Sir Baniyas Island, 9.5 kilometres (km) off Jebel Dhana in Abu Dhabi; the $29bn Barakah nuclear power plant in Al-Gharbia, close to the border with Saudi Arabia; the solar farms in Sweihan and Al-Dhafra in Abu Dhabi; and Dubai’s Mohammed bin Rashid al-Maktoum Solar Park, 50km from Expo City, the venue for Cop28.
For many delegates, a trip to these sites is unnecessary. They are aware of the UAE’s green credentials, with the country having ploughed billions of dollars into investments aimed at decarbonising its economy, and more still to come.
For others, however, a single statistic undermines the positive environmental steps that the world’s sixth-largest crude exporter has taken. State-backed energy firm Abu Dhabi National Oil Company (Adnoc) plans to increase its oil production capacity from 4 million barrels a day (b/d) to 5 million b/d by 2027.
Double-edged strategy
Critics, who include the head of the Catholic Church, Pope Francis, have warned of the dangers of a double-edged energy transition strategy. Cop28 president-designate Sultan al-Jaber, managing director and CEO of Adnoc, prefers to describe such an approach as pragmatic.
An agreement requiring developed countries to provide loss and damage funding to countries most affected by climate change was a key takeaway from last year’s UN climate change conference in Egypt (Cop27). However, there was a lack of progress on the phasing down or out of fossil fuels.
The onus is now on the UAE, whose energy transition approach embraces energy sources from fossil fuels to green hydrogen, to deliver a more productive conference.
The hope is that the UAE’s status as an oil- exporting country, and the selection of an oil industry stalwart to lead this year’s negotiations, will not distract from the important tasks that the 12-day event aims to tackle.
Cop28 will see the first global stocktake of the progress countries have made towards their emissions reduction commitments or nationally determined contributions (NDCs).
Al-Jaber has also promised to supercharge climate finance and put more pressure on developed countries to fulfil the commitment they made at Cop15 in Copenhagen to mobilise $100bn annually by 2020. This target has been missed repeatedly.
A UAE finance initiative that will provide $4.5bn to help unlock Africa’s clean energy potential was announced in early September and is an example of such commitment.
Al-Jaber’s insistence on putting oil and gas companies at the heart of the climate dialogue is proving both decisive and divisive, however, depending on which side of the climate debate one supports.
“This is your opportunity to show the world that, in fact, you are central to the solution,” he told the oil and gas-dominated Adipec conference held in Abu Dhabi on 2-5 October.
How can green ammonia compete with grey ammonia if the gas for the grey ammonia is provided at a fraction of world market prices?
Cornelius Matthes, Dii Desert Energy
Cyril Widdershoven, global energy market analyst at Netherlands-based consultancy Verocy, supports Al-Jaber’s views.
“The main Cop28 outcome will be linked to an even and rational transition from hydrocarbons to renewables, taking into account the overall need to cut emissions and [carbon] footprint,” he says.
The summit will lead to a realisation that hydrocarbons will be a major part of the overall energy scene for decades to come, as the world is not yet ready to be fully electrified, Widdershoven adds.
The oil and gas industry’s increased presence at, and participation in, Cop28 is expected to make an impact.
“There will be huge pressure on the oil and gas industry to participate in the decarbonisation of energy systems, first by eliminating methane flaring and then eliminating emissions from their own operations by 2030,” says Paddy Padmanathan, co-founder and vice-chairman of clean energy firm Zhero and former CEO of Saudi utility developer Acwa Power.
“Abu Dhabi can influence the national oil companies to sign up to this, and Adnoc and Saudi Aramco should be able to influence the international oil companies to sign up.”
Top 10 UAE clean energy projects
Walking the talk
The UAE has shown leadership by being the first country in the Middle East and North Africa (Mena) region to initiate the phasing out of fossil fuel subsidies in 2015, Cornelius Matthes, CEO of Dubai-based Dii Desert Energy, tells MEED.
“It was also the first Mena country to introduce a net-zero 2050 target in 2021, and has an unparalleled track record in building some of the largest solar plants in the world at record-low prices.”
Since other countries in the region have already followed the UAE’s lead, the expectation is for Cop28 to provide impetus for similar initiatives to accelerate.
With Abu Dhabi leading, Zhero’s Padmanathan expects it will also be possible to secure financial commitments
to the Loss & Damage Fund that was established at Cop27.
A declaration from the world’s 46 least-developed countries cited a “strong outcome operationalising the new Loss & Damage Fund” among their key expectations and priorities for Cop28.
Home to more than 14 per cent of the world’s population, these countries contribute about 1 per cent of emissions from fossil fuels and industrial processes and most are on the front line of the climate crisis. The majority need funds to deal with the impact of climate change in sectors such as agriculture, while others require funds to develop clean energy sources.
Tripling initiative
The goal of tripling global renewable energy capacity is expected be included in the agenda for Cop28.
This is in line with the International Energy Agency’s recommendation that the world needs to triple global renewable energy capacity by 2030 if the 1.5 degrees Celsius cap on global warming that was agreed in Paris in 2015 is to still be within reach.
However, this goal needs a clear mechanism to be effective, according to an expert in the renewable energy field.
“There will be a big song and dance around the commitment to tripling solar and wind deployment by 2030, but given there will be no mechanism for holding anyone responsible for it, and for sure there will be no consequence … I cannot see how meaningful such pledges can be,” the expert tells MEED.
Hard issues
The wider Mena region, which will share the spotlight and scrutiny associated with Cop28, will have to demonstrate a willingness to talk about the reduction of all harmful emissions, not only carbon, says Matthes.
The easiest option is to phase out fossil fuel subsidies, as they encourage energy waste and profit wealthy populations disproportionately.
“How can green ammonia compete with grey ammonia if the gas for the grey ammonia is provided at a fraction of world market prices?” Matthes asks.
Introducing a cost for all harmful emissions is another opportunity that can automatically improve bankability for energy transformation projects. To their credit, the UAE and Saudi Arabia have recently introduced voluntary carbon markets, which are seen as steps in the right direction.
Initiatives to boost energy efficiency across the Mena region should also be part of the conversation. These range from efforts to use air conditioning, cooling and water more discriminatingly; electrify transportation; deploy battery energy storage systems; and increase the decarbonisation of the production, shipping, refining and upstream use of oil and gas.
“The region’s waste of energy should be reduced and eliminated before even thinking about how to produce energy,” says Matthes.
Possible scenarios
Despite promises of inclusivity and productiveness, there is a strong probability that most Cop28 negotiators will get only a fraction of what they hope to take away from the summit.
“In a complex system like the Cop negotiations, we need to be realistic about what can be achieved,” says Matthes. “As we have seen in the past ... the same countries always manage to dilute compromises and block long-overdue and necessary developments.”
A likely post-Cop28 scenario could include an agreement requiring the oil and gas industry to do and spend more to decarbonise their products and operations, share in the financial burden of climate change mitigation, and if possible, curb production. This could avoid the use of wording that proved contentious at Glasgow’s Cop26 when a deal that called for the “phase out” of coal-fired power had to be amended to “phase down” following pressure from some countries.
Climate change advocates will have to live with the fact that fossil fuels, and their entire supply chain, are not likely to be penalised further or disappear. Major change is unlikely until the world is ready to be fully electrified, or until the fear that halting oil production could cause energy insecurity and economic chaos can be overcome.
The Global North countries will have to weigh the best options to reach their net-zero carbon emission targets by 2050 without risking their economic growth. However, countries such as the UK are in the process of pushing back some of their energy transition targets.
Meanwhile, most Global South countries will continue to bear the brunt of the worsening climate crisis, albeit with some support from top carbon-emitting and wealthy nations.
Rightly or wrongly, this could highlight the merit of Al-Jaber’s preferred pragmatic and inclusive approach to Cop28 in terms of technologies, fuels and the representation of sectors.
“A convergence of interests and the dramatic changes to the status of the global energy transition over the past few years … could help countries find new momentum and solutions that might not have seemed feasible in the past,” says Matthes.
Image: Cop28 president-designate Sultan al-Jaber engages with Pope Francis on driving positive outcomes for climate action. Credit: Cop28
Exclusive from Meed
-
Israeli offensive leaves Beirut in limbo5 June 2026
-
Morocco tenders Falit dam project5 June 2026
-
-
Kuwait prepares to tender refinery project deal5 June 2026
-
Kuwait tenders downstream consultancy contract5 June 2026
All of this is only 1% of what MEED.com has to offer
Subscribe now and unlock all the 153,671 articles on MEED.com
- All the latest news, data, and market intelligence across MENA at your fingerprints
- First-hand updates and inside information on projects, clients and competitors that matter to you
- 20 years' archive of information, data, and news for you to access at your convenience
- Strategize to succeed and minimise risks with timely analysis of current and future market trends
Related Articles
-
Israeli offensive leaves Beirut in limbo5 June 2026

Lebanon is being held in economic and political limbo by Israel’s open-ended offensive in the south, which has killed more than 3,500 people since March and is characterised by strategic objectives that offer no clear end in sight.
Political leaders in Tel Aviv are justifying the operation on the grounds of eliminating Hezbollah – a far‑fetched goal against a dispersed guerrilla organisation, as with Hamas in Gaza – while ignoring overtures from Lebanon’s leadership for a ceasefire.
The recently formed Lebanese government, meanwhile, continues to look impotent: unable to secure its territory from Israeli incursions or Hezbollah activity, and unable to deliver on promises of stability, reform, IMF funding and reconstruction.
Echoes of the past
The overarching shape of Israel’s military campaign is ominously familiar, echoing the 1978, 1982, 1985 and 2006 Israeli invasions of southern Lebanon – all entailing creeping encroachment without strategic resolution.
Since fighting resumed on 2 March 2026, Israeli forces have gradually pushed north, crossing north of the Litani for the first time since the 2006 Lebanon war and seizing Beaufort Castle above Nabatieh on 31 May.
Israeli Prime Minister Benjamin Netanyahu has framed the goal as establishing a “security zone” – the same term and concept Israel used to justify the occupation of a roughly 800-square-kilometre belt of southern Lebanon from 1985 to 2000.
That occupation was a debacle for Israel’s military and ended in unilateral withdrawal.
Israeli analysts are already drawing the modern parallels as the cost of holding ground in southern Lebanon rises, driven by Hezbollah’s deployment of cheap fibre‑optic first‑person‑view (FPV) drones that inflict a steady drip of Israeli casualties and losses.
As with Russia in Ukraine, Tel Aviv is being tactically embarrassed by the advent of these fibre‑optic drones, which are immune to jamming and – of particular concern to Israeli forces – are too small to be reliably detected and intercepted by conventional counter‑drone systems.
This leap in Hezbollah’s operational threat – based on cheap technology that can be locally assembled – has sharply raised the price of maintaining a military presence in the country.
In an attempt to exact a retaliatory price, Israel’s air strikes rose by 110% between 19-22 May and 23-26 May as Hezbollah’s drone successes accumulated, according to conflict monitor Acled. But the underlying tactical dilemma remains.
Israeli politicians, irate at the situation, have demanded escalation and intensified strikes on civilian areas, including in Beirut – only to face US pushback.
Tehran as the lever
Planned strikes on Beirut, including on 3 June, have been held off in recent weeks under pressure from Washington after Tehran made Lebanon a bargaining chip in its wider negotiations with the US, repeatedly suspending talks following Israeli escalation in the Levant country.
Tehran has also gone further than walkouts, warning it could respond directly if Israel strikes Beirut – adding an explicit threat of retaliation to diplomatic pressure.
With a Gulf ceasefire and the reopening of the Strait of Hormuz both riding on the outcome, Washington is strongly motivated to keep Israel from striking Beirut.
In this way, Iran is one of the few powers wielding any leverage over Israel’s actions in Lebanon – even if that leverage is a source of discomfort for Lebanon’s leaders, for whom Tehran’s clout contrasts starkly with their own lack of influence.
That protection nevertheless remains narrowly tied to the Lebanese capital, with Washington turning a blind eye to Israel’s ongoing destruction of civilian infrastructure in Lebanon’s south.
Within the border belt that Tel Aviv has dubbed the “yellow line” – amounting to about 7% of Lebanese territory – Israeli forces have accelerated the demolition of villages since the April truce and barred residents from returning.
More than a million people, overwhelmingly Shia from the south and the Bekaa, have been displaced since March, and UN human-rights experts have pointed to the blanket evacuation orders and levelling of housing as mirroring Israel’s conduct in Gaza.
The Lebanese state remains trapped in inaction, partially of its own making. Beirut was initially close to indifferent to renewed strikes on Hezbollah, whose unilateral re-entry into the war it had condemned for endangering the state.
But as the strikes have shifted methodically towards civilian areas, Beirut’s restraint satisfies no one: the domestic audience wants protection, while Israel and the US want decisive Lebanese army action against Hezbollah.
Yet the Lebanese army – still adhering in spirit to the November 2024 ceasefire framework and loath to move seriously against Hezbollah for fear of stoking civil war – has remained aloof from the conflict.
Parliament speaker Nabih Berri, who is close to Hezbollah and maintains dialogue with the group, says it would honour a genuine ceasefire if only Washington could deliver one.
But repeated attempts to shore up the ceasefire have remained conditional on the Lebanese army stepping up to rein in Hezbollah, while failing to guarantee an end to Israel’s destruction of civilian structures in areas it is occupying.
On 3 June, a fourth round of US‑mediated trilateral talks produced a fresh ceasefire announcement, hailed in Washington as a step towards comprehensive peace.
Yet its conditions – a complete halt to Hezbollah fire, the group’s withdrawal south of the Litani and Lebanese army control of undefined “pilot zones”– merely reiterate past failed protocols. The declaration was unsigned by Hezbollah and unenforceable by Beirut.
Within hours, Hezbollah leader Naim Qassem rejected the declaration, stating that any ceasefire must cover the south and begin with Israeli withdrawal, not Hezbollah’s.
Both Israeli strikes and Hezbollah attacks have continued since the ostensible deal.
Recovery on hold
The economic cost to Lebanon, meanwhile, compounds by the day. The country entered 2026 already in crisis: cumulative GDP down close to 40% since 2019, the pound down 98%, public debt at 150% of GDP, and reserves as low as $11bn as of June 2025.
The government of President Joseph Aoun and Prime Minister Nawaf Salam staked its credibility on a long‑deadlocked IMF programme finally unlocking external support. The war has upended this, driving away investment and delaying reform.
The World Bank’s November 2024 assessment – covering only the previous round of fighting, before the March resumption – placed the economic cost at $14bn and recovery needs at $11bn, figures that the current war is now inflating by the day.
Lebanon’s Bank Audi has warned of zero growth this year if the war continues, versus a pre‑escalation projection of reconstruction‑led recovery. Tourism, historically a fifth of the economy and the engine of the 2024 rebound, has been the biggest casualty.
Looking ahead, no reconstruction can be financed while the destruction continues, and no IMF programme can advance while the state cannot ensure stability.
Iran’s leverage may be keeping the bombs off Beirut, but the south’s entrenchment as a war zone is only deepening – with hopes for recovery receding further with every village levelled.
While the costly occupation is imposing a rising political price on the Israeli government that may, in time, bring it to an end, this will be little consolation for those displaced – many of whom now have no communities to return to, and homes built over decades that are gone.
https://image.digitalinsightresearch.in/uploads/NewsArticle/17120249/main.gif -
Morocco tenders Falit dam project5 June 2026
Morocco’s Ministry of Equipment & Water has opened an international tender for the construction of the Falit dam in Figuig province.
According to local media reports, the project has an estimated budget of MD428m ($46m), with commissioning expected between 2029 and 2030.
The bid submission deadline is 15 July.
The dam will be built on the Moulouya River north of Bouarfa in eastern Morocco. The roller-compacted concrete structure will be 59 metres high and have a storage capacity of 25 million cubic metres.
The project is intended to provide drinking water supplies, support agricultural irrigation and enhance flood protection in the region.
Figuig is one of Morocco’s driest regions. It is also vulnerable to flash floods caused by sporadic but intense rainfall events.
Reported ministry data indicates that annual flows at the project site can reach 40.8 million cubic metres in wet years. Long-term average flows are estimated at about 10.3 million cubic metres a year.
The dam will include a spillway and a bottom outlet equipped with a 1,500-millimetre pipe. The outlet will have a discharge capacity of 28 cubic metres a second and will allow the reservoir to be emptied within 15 days if required.
Morocco dam infrastructure
The Figuig region is also home to the Kheng Grou dam project, which is designed to have a storage capacity of 1.07 billion cubic metres.
According to regional project tracker MEED Projects, the dam is on track to be completed by the end of the year.
Morocco-headquartered Bioui Travaux is the engineering, procurement and construction (EPC) contractor for the project, valued at $96m.
Another local firm Novec is acting as the main contractor on the project.
The Falit dam tender comes as Morocco continues to invest in new dams, desalination plants and water transfer schemes to address growing pressure on water resources.
The country currently has over $13bn-worth of dam projects under construction, the largest of which is the Ratba dam project in the province of Taounate.
Construction is also set to begin on the $238m Bou Ahmed Dam project, covering 259 hectares, in the province of Chefchaouen. According to MEED Projects data, this was the only major dam contract awarded last year.
The joint venture of Societe Generale des Travaux du Maroc and Stam Morocco, a subsidiary of the TGCC group, will carry out EPC works on the project.
READ THE JUNE 2026 MEED BUSINESS REVIEW – click here to view PDFGCC looks beyond the Strait; Iraq’s reform window narrows as fiscal assumptions shatter; MEED Top 100 companies.
Distributed to senior decision-makers in the region and around the world, the June 2026 edition of MEED Business Review includes:
> AGENDA: Gulf races to reroute trade> EXPORT ROUTES: Regional war boosts oil and gas pipeline project activity> CURRENT AFFAIRS: UAE’s Opec departure fulfils multiple ends> MEED TOP 100: Middle East stocks recover unevenly> LEADERSHIP: Building the infrastructure that makes net zero possible> TRADE DEAL: UK-GCC trade deal talks concludeTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/17120660/main.jpg -
Saudi Energy commissions 2.5GW battery storage project5 June 2026
Saudi Energy, formerly Saudi Electricity Company, has commissioned a major 2.5GW battery energy storage project across five regions in Saudi Arabia.
The project, which serves power grids in Riyadh, Rabigh, Dawadmi, Jouf and Qassim, completed all grid-tied charging and discharging tests at the end of May, said Chinese supplier NR Electric in a statement.
National Grid Saudi Arabia, a wholly owned subsidiary of Saudi Energy, awarded Saudi firm Alfanar Company and China’s BYD Energy Storage the contract to build and install five battery energy storage system (bess) facilities with a total combined installed capacity of up to 2,500MW, equivalent to a rated capacity of up to 12,500 megawatt-hours, in January 2025.
Alfanar was appointed as the project’s engineering, procurement and construction contractor, while BYD Energy Storage was responsible for the design, supply, supervision of installation, testing and commissioning, and maintenance of the bess plants.
The 12.5 gigawatt-hour (GWh) project is the world’s largest grid-scale energy storage deployment, requiring 2,364 system cabinets in total.
NR Electric said it supplied the project’s grid-forming control technology and more than 2,000 power conversion system units.
The main applications for the planned bess facilities include load shifting, black start, frequency regulation and voltage support.
They are expected to replace part-load operation of existing power plants by charging and discharging electricity according to system load variations and primary and secondary reserves, among other potential applications.
Shenzhen-based BYD previously announced that the five bess plants would take its total deployments in Saudi Arabia to about 15.1GWh.
It deployed its bess products on Saudi Arabia’s first on-grid bess plant in Bisha, one of 17 projects globally with a capacity of over 1GWh that entered operations in 2024.
> Be recognised among the best in the industry at the MEED Projects Awards 2026 …
https://image.digitalinsightresearch.in/uploads/NewsArticle/17120197/main.jpg -
Kuwait prepares to tender refinery project deal5 June 2026
State-owned downstream operator Kuwait National Petroleum Company (KNPC) has announced that it is preparing to tender a contract to develop a gauging system for a tank farm at the Mina Al-Ahmadi refinery.
The system will replace an older, now obsolete system at the South Liquid Tank Farm.
The contract will include engineering, procurement, construction, testing and commissioning of the new gauging system.
KNPC is planning to invite 24 companies to participate in the bidding process.
These are:
- JGC Corporation (Japan)
- Almeer Technical Services Co. (Kuwait)
- CTCI Corporation (Taiwan)
- Kellogg Brown & Root (US)
- Kentz Overseas (UAE)
- IMCO Engineering & Construction Company (Kuwait)
- National Petroleum Construction Company (UAE)
- Sinopec Luoyang Engineering (China)
- Sinopec Engineering Incorporation (China)
- Tecnicas Reunidas (Spain)
- SK Ecoplant (South Korea)
- Gulf Spic General Trading & Contracting Company (Kuwait)
- Hyundai Engineering (South Korea)
- Enppi (Egypt)
- Hyundai Engineering & Construction (South Korea)
- Saipem (Italy)
- Technip Energies (France)
- Larsen & Toubro (India)
- Hanwha Engineering & Construction Corporation (South Korea)
- Sinopec Engineering Group (China)
- Samsung E&A (South Korea)
- Daewoo Engineering & Construction (South Korea)
- Fluor (US)
- Hyundai Heavy Industries (South Korea)
If a company has not been included in the list and would like to participate in the tender, it can file a complaint with the chairman of Kuwait’s Higher Purchase Committee within 30 days.
The Mina Al-Ahmadi refinery has been attacked and damaged as part of the regional war that broke out after the US and Israel attacked Iran on 28 February.
Several units were shut down at Kuwait’s largest oil refinery after it was hit by drones and fires broke out in the morning of 20 March 2026.
The refinery normally processes about 730,000 barrels of oil a day.
Kuwait’s oil and gas sector has been severely disrupted by the ongoing regional conflict, which has led to a dramatic drop in crude exports via the Strait of Hormuz.
READ THE JUNE 2026 MEED BUSINESS REVIEW – click here to view PDFGCC looks beyond the Strait; Iraq’s reform window narrows as fiscal assumptions shatter; MEED Top 100 companies.
Distributed to senior decision-makers in the region and around the world, the June 2026 edition of MEED Business Review includes:
> AGENDA: Gulf races to reroute trade> EXPORT ROUTES: Regional war boosts oil and gas pipeline project activity> CURRENT AFFAIRS: UAE’s Opec departure fulfils multiple ends> MEED TOP 100: Middle East stocks recover unevenly> LEADERSHIP: Building the infrastructure that makes net zero possible> TRADE DEAL: UK-GCC trade deal talks concludeTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/17119568/main.gif -
Kuwait tenders downstream consultancy contract5 June 2026
State-owned downstream operator Kuwait National Petroleum Company (KNPC) has tendered a consultancy contract focused on a liquid sulphur degassing facility for four sulphur recovery units at the Mina Al-Ahmadi refinery.
This type of unit removes dissolved hydrogen sulphide and other sulphur compounds from molten sulphur before it is stored, loaded onto trucks, or exported.
This makes the sulphur safer to handle and reduces emissions.
A total of 21 companies have been invited to participate in the tender.
These are:
- Asprofos Single Member Engineering Societe Anonyme (Greece)
- Enereco (Italy)
- EPC Constructions India (India)
- Engineering for the Petroleum & Process Industries (Enppi) (Egypt)
- Gulf Spic General Trading & Contracting Company (Kuwait)
- Heavy Engineering Industries & Shipbuilding Company (Kuwait)
- ILF Consulting Engineers (Austria)
- Larsen & Toubro (India)
- Litwin PEL (UAE)
- Mott MacDonald (UK)
- National Petroleum Construction Company (UAE)
- Penspen International (UK)
- Petro6 Engineering & Construction (India)
- Petrocil Engineers & Consultants Pvt. (India)
- PL Engineering (India)
- Processes Unlimited (US)
- Tebodin (Netherlands)
- Technip Energies France (France)
- Tecnicas Reunidas (Spain)
- Triune Energy Services (India)
- Toyo Engineering Corporation (Japan)
A pre-tender meeting for the project is scheduled for 8 June 2026, and the bid closing date is 25 June 2026.
The Mina Al-Ahmadi refinery has been attacked and damaged as part of the regional war that broke out after the US and Israel attacked Iran on 28 February.
Several units were shut down at Kuwait’s largest oil refinery after it was hit by drones and fires broke out in the morning of 20 March 2026.
The refinery normally processes about 730,000 barrels of oil a day.
Kuwait’s oil and gas sector has been severely disrupted by the ongoing regional conflict, which has led to a dramatic drop in crude exports via the Strait of Hormuz.
READ THE JUNE 2026 MEED BUSINESS REVIEW – click here to view PDFGCC looks beyond the Strait; Iraq’s reform window narrows as fiscal assumptions shatter; MEED Top 100 companies.
Distributed to senior decision-makers in the region and around the world, the June 2026 edition of MEED Business Review includes:
> AGENDA: Gulf races to reroute trade> EXPORT ROUTES: Regional war boosts oil and gas pipeline project activity> CURRENT AFFAIRS: UAE’s Opec departure fulfils multiple ends> MEED TOP 100: Middle East stocks recover unevenly> LEADERSHIP: Building the infrastructure that makes net zero possible> TRADE DEAL: UK-GCC trade deal talks concludeTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/17119564/main.gif
