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Aldar acquires Dubai Studio City development Administrator14 May 2026
Abu Dhabi-based developer Aldar has acquired a residential and community retail development in Dubai Studio City from Dubai-based developer SRG for AED1.1bn ($300m).
The deal is part of Aldar’s long-term strategy to build a high-quality, recurring-income portfolio and to scale its presence in the city.
Scheduled for delivery in 2028, the project comprises six mid-rise buildings with 312 homes, including one-, two- and three-bedroom apartments and duplexes. It also includes a community mall with retail, leisure and food-and-beverage offerings, as well as a 16,000-square-metre park.
“Dubai is a priority growth market for Aldar, and this acquisition reflects our belief in the city’s residential market and the central role that institutionally owned, professionally managed rental housing plays in meeting the needs of a growing population,” said Jassem Saleh Busaibe, CEO of Aldar Investment.
“Dubai Studio City’s established infrastructure, vibrant community and strong connectivity make it an excellent location for a high-quality, professionally managed living environment. This transaction is the latest step in a deliberate and broadening strategy to build a diversified portfolio of income-generating assets in Dubai, one that we expect to continue growing as the city attracts increasing global interest and talent,” he added.
The transaction expands Aldar’s activities in Dubai across a range of property types. Aldar Investment’s recurring-income portfolio in the emirate now includes residential, commercial, logistics and mixed-use assets. Key holdings include a mixed-use joint venture with Expo City Dubai, a signature office tower in Dubai International Financial Centre, a Grade A office building on Sheikh Zayed Road, and logistics facilities in National Industries Park and Dubai South.
On the development front, Aldar’s partnership with Dubai Holding continues to gain traction, with three master-planned residential communities already launched and a pipeline exceeding 2.3 million sq m of new gross floor area.
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Algeria awards major gas project contract Administrator14 May 2026
The Chinese-Algerian joint venture Groupement Sonatrach-Sinopec (GSS) has provisionally awarded a major contract to upgrade the gas lift compression unit at Algeria’s Zarzaitine field.
The $238.8m contract has been awarded to a consortium of the Chinese companies Tianchen Engineering Corporation and Shaanxi Yanchang Petroleum.
The client on the project is a partnership between Beijing-headquartered Sinopec and Algeria’s state-owned oil and gas company Sonatrach.
The contract uses the engineering, procurement, construction and commissioning (EPCC) model and has a 45-month term.
The gas lift unit was first installed in 1988. It processes and injects gas into the field to help boost oil production at the Zarzaitine oil field.
Under the terms of the contract, the unit will be upgraded to boost its performance.
Its functions include gas separation, filtration, compression and condensate recovery.
The latest contract award comes at a time when Sonatrach is taking advantage of concerns about global gas and crude supplies to sign deals and push ahead with major upstream projects.
In recent weeks, the country has launched an oil and gas licensing round, taken steps to boost crude production in the short term and awarded a $1.1bn oil and gas field development project.
This comes as shipping remains disrupted through the Strait of Hormuz, a key global oil and gas supply route. The disruption began after the US and Israel attacked Iran on 28 February 2026, triggering a regional war.
READ THE MAY 2026 MEED BUSINESS REVIEW – click here to view PDFGlobal energy sector forced to recalibrate; Conflict hits debt issuance and listings activity; UAE’s non-oil sector faces unclear recovery period amid disruption.
Distributed to senior decision-makers in the region and around the world, the May 2026 edition of MEED Business Review includes:
> REGIONAL LNG: War undermines business case for Middle East LNG> CAPITAL MARKETS: Damage avoidance frames debt issuance> MARKET FOCUS: Conflict tests UAE diversificationTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/16822685/main.jpg -
Kuwait continues to deploy oil drilling rigs Administrator14 May 2026
Kuwait is continuing to deploy oil drilling rigs despite the ongoing crisis disrupting shipping through the Strait of Hormuz, according to a statement from Kuwaiti drilling and oilfield services provider Action Energy Company (AEC).
In a statement released on 13 May, the company’s chief executive, Ahmad Mohammad Al-Ajlan, said it had secured awards for an additional seven rigs announced in January 2026, before the US and Israel’s 28 February attack on Iran.
He added that deployment of these rigs was “progressing in line with schedule”.
The ongoing deployment of the rigs comes amid significant disruption to Kuwait’s oil and gas sector.
Kuwait’s oil and gas sector has been severely impacted by the blockade of the Strait of Hormuz, through which all of its crude exports are normally shipped.
The country recorded zero crude oil exports in April for the first time since the end of the Gulf War in 1991, according to shipping monitor TankerTrackers.com.
The inability to export crude has quickly filled domestic storage capacity, forcing production cuts at the country’s largest oil fields.
Rising revenues
Despite the ongoing crisis, AEC has reported positive financial results for the first quarter of this year, which ended on 31 March.
The company’s revenue grew by 69.2% year-on-year, primarily driven by the expansion of the operating rig fleet from 13 rigs in the first quarter of 2025 to 20 rigs in the first quarter of 2026, including the full-quarter contribution of 10 new rigs deployed during 2025.
The company is benefitting from a substantial multi-year contracted backlog with the state-owned upstream operator, Kuwait Oil Company (KOC).
Sheikh Mubarak Abdullah Al-Mubarak Al-Sabah, the chairman of AEC, said: “Despite regional disturbances during the period, AEC delivered performance in line with expectations, ensured uninterrupted support to KOC operations, and continued to operate with safety as a core value.”
In January 2026, AEC announced two contract awards from KOC.
The first contract, worth KD4.8m ($15.6m), covers two 750-horsepower (HP) rigs, which are expected to be deployed in the second half of the year.
The second contract, worth KD62.1m ($201.5m), covers four 1,500 HP rigs and one 1,000 HP rig.
These are expected to start operations from the fourth quarter of 2026 and the first quarter of 2027.
Together, these awards bring the company’s rig fleet backlog to 27 rigs once fully mobilised, according to AEC.
READ THE MAY 2026 MEED BUSINESS REVIEW – click here to view PDFGlobal energy sector forced to recalibrate; Conflict hits debt issuance and listings activity; UAE’s non-oil sector faces unclear recovery period amid disruption.
Distributed to senior decision-makers in the region and around the world, the May 2026 edition of MEED Business Review includes:
> REGIONAL LNG: War undermines business case for Middle East LNG> CAPITAL MARKETS: Damage avoidance frames debt issuance> MARKET FOCUS: Conflict tests UAE diversificationTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/16822649/main5931.jpg -
Aramco aims to raise $10bn with real estate deal Administrator14 May 2026
Saudi Aramco is considering plans to generate more than $10bn by leveraging its real estate assets, which include its headquarters and campus in the kingdom’s Eastern Province. The move could involve a sale-and-leaseback structure, which would provide the oil giant with a significant influx of capital while allowing it to retain use of the properties.
According to Bloomberg, Aramco is working with advisers to facilitate the transaction, which is expected to attract interest from major infrastructure and real estate investment funds. The initiative follows an $11bn lease agreement signed last year with a group led by BlackRock for facilities supporting the Jafurah gas project.
Aramco is also reportedly pursuing deals involving its gas-fired power plants, water infrastructure, and stakes in oil export and storage terminals.
These efforts to unlock capital come as the firm supports the kingdom’s economic transformation under Vision 2030 amid rising costs and regional conflict.
Aramco reported $12bn of capital expenditure in the first quarter of this year, which it said supports its growth objectives. It previously guided for capex of $50bn to $55bn for the full year.
Aramco’s capex in Q1 2026 was down 4% from the same period last year. The company spent $13.37bn in Q4 2025 and $52.2bn for the full year.
Offshore oil and gas projects are understood to have accounted for a significant share of Aramco’s first-quarter capex.
The company reported a sharp rise in profit in Q1 2026, beating analyst expectations as higher oil prices and increased crude sales offset geopolitical disruptions linked to shipping constraints in the Strait of Hormuz.
Aramco’s adjusted net income rose nearly 26% to $33.6bn in Q1 2026, from $26.6bn a year earlier.
Net income rose more than 25% year-on-year to $32.04bn, compared with $25.51bn in Q1 2025, driven by higher crude oil prices and increased sales volumes.
Revenue increased 7% to $115.49bn, supported by higher prices for crude oil, refined products and chemicals, as well as higher sales volumes of crude and chemical products.
On a quarterly basis, net income jumped 72.9% from Q4 2025, rising from $18.53bn to $32.04bn, helped by stronger margins and lower operating costs despite higher taxes and zakat payments.
Cash flow from operating activities totalled $30.7bn, while free cash flow came in at $18.6bn, down slightly from $19.2bn a year earlier. This reflected a strategic $15.8bn increase in working capital aimed at ensuring business continuity.
READ THE MAY 2026 MEED BUSINESS REVIEW – click here to view PDFGlobal energy sector forced to recalibrate; Conflict hits debt issuance and listings activity; UAE’s non-oil sector faces unclear recovery period amid disruption.
Distributed to senior decision-makers in the region and around the world, the May 2026 edition of MEED Business Review includes:
> REGIONAL LNG: War undermines business case for Middle East LNG> CAPITAL MARKETS: Damage avoidance frames debt issuance> MARKET FOCUS: Conflict tests UAE diversificationTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/16821588/main.gif -
GCCIA appoints contractor for Saudi substation expansion Administrator14 May 2026
France-headquartered Cegelec has won an engineering, procurement and construction (EPC) contract to expand the Salwa 400kV substation in Saudi Arabia.
The project is being developed under the Gulf Cooperation Council Interconnection Authority (GCCIA) with local firm Ekbart Engineering Company (EECC) serving as the civil sub-contractor.
The GCCIA previously awarded a contract to Omexom for the construction of a 400kV overhead transmission line linking the Salwa substation with the Al-Silaa substation in Abu Dhabi.
Cegelec and Omexom are both engineering subsidiaries of France’s Vinci Energies, part of the wider Vinci Group.
The wider $230m project involves the construction of a 96-kilometre, double-circuit 400kV overhead line, the expansion of three key substations in Gonan, Al-Silaa and Salwa, and the installation of upgraded 400kV switchgear, circuit breakers and reactors.
As MEED previously reported, the project is being financed by the Abu Dhabi Fund for Development, which signed a $205m financing agreement with the GCCIA last July.
France’s EDF is acting as the main consultant on the project.
The interconnection is intended to strengthen power grid connectivity between the UAE and Saudi Arabia. It forms part of wider GCC grid expansion plans, including the $700m Oman power grid interconnection, which began implementation in February.
This project marks one of the largest expansions in the authority’s history and involves building a 400kV double-circuit transmission line extending about 530km between the two countries.
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Contractor appointed for Oman power plants Administrator13 May 2026
A consortium of China-headquartered Shandong Electric Power Construction No. 3 Company (Sepco 3) and South Korea’s Doosan Enerbility has been appointed as the main contractor on the Misfah and Duqm combined-cycle gas turbine power plants in Oman.
The contracts cover the construction of two independent power producer (IPP) projects, with work scheduled to begin in the third quarter of 2026.
State offtaker Nama Power & Water Procurement (Nama PWP) had previously signed power-purchase agreements (PPAs) for the development and operation of the plants.
The developer’s contract was awarded to a consortium comprising Korea Western Power (Kowepo), Qatar’s Nebras Power, the UAE’s Etihad Water & Electricity (EtihadWE) and Oman’s Bhawan Infrastructure Services.
The Misfah IPP will be led by Nebras Power and located in Wilayat Bousher in Muscat Governorate, with a planned capacity of 1,600MW.
The Duqm IPP will be led by Kowepo and located in Wilayat Duqm in Al-Wusta Governorate, with a capacity of 800MW.
According to Nama PWP, the total investment for the two projects is estimated at approximately RO1bn ($2.6bn).
MEED reported last October that Nama PWP had received three bids for the development and operation of the gas-fired IPPs.
The other bids included a consortium comprising China’s Shenzhen Energy Group and Oman National Engineering & Investment Company, and a lone bid from Saudi Arabia’s Acwa Power.
Synergy Consulting is the financial adviser and lead adviser to Nama PWP for these projects.
In November, Oman’s OQ Gas Networks received final investment approval to proceed with gas supply connections for the facilities.
The Misfah IPP will receive 8.5 million cubic metres a day (cm/d) of natural gas. The Duqm IPP will be supplied with 4.5 million cm/d of natural gas.
In March 2025, the same Sepco 3 and Doosan Enerbility consortium signed an engineering, procurement and construction contract with Saudi Electricity Company for the expansion of the Riyadh Power Plant 12 (PP12).
Located about 150 kilometres northwest of Riyadh, the 1,863MW power plant is expected to be completed in 2028.
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Financial challenge tests Iraq’s resolve Administrator13 May 2026
On 21 April, as a fragile ceasefire held between the US and Iran, the Trump administration halted a $500m shipment in cash headed for Iraq, as it sought to clamp down on Iranian-backed Shia militias in the country.
That cash, derived from Iraqi oil exports and routed via the US Federal Reserve to the Central Bank of Iraq (CBI), is a vital cog in Iraq’s financial arteries, enabling it to cover foreign exchange demand.
This was not the first time that Iraq’s financial system has felt the US’s warm breath on its neck.
Back in February 2025, the US Treasury Department blacklisted five Iraqi banks from participating in dollar transactions, citing concerns about their role in illicit financial flows that benefited Iran’s Islamic Revolutionary Guards Corps.
Iraq has also itself often circumscribed dollar use within its own financial system.
In July 2023, the CBI banned 14 banks from conducting dollar transactions in a crackdown on dollar smuggling. In February 2024, it banned a further eight banks from dollar transactions as part of a crackdown on fraud and money laundering.
Dollar pressure
The recent halt in US dollar cash shipments has nevertheless added pressure to Iraq’s parallel currency market gap, says Lucila Bonilla, lead emerging market economist at Oxford Economics.
“The gap between the parallel exchange rate has widened noticeably against the official peg, to around 20%,” she says.
“Dollar demand has risen as citizens and traders seek to hedge uncertainty – dollar deposits are up, and there are reports of a notable shift in the composition of cash holdings toward dollars.”
Ratings agencies see the US move on Iraqi dollar use as a challenge, but one that might not prove too onerous.
“Iraq can overcome a short-term war as it has $100bn of reserves and its debt profile is bearable,” says Gilbert Hobeika, a director at Fitch Ratings.
“But a longer-term conflict will hurt Iraq as the economy is reliant on oil revenues and government involvement, while facing at the same time risk from the US stopping delivery of US dollars.”
How persistent the pressure proves will depend largely on the duration of the Hormuz shock and how the relationship with the US evolves.
“Forming a new government that is palatable to the US could ease the pressure, though Iraq’s protracted government formation process adds uncertainty to that timeline,” says Bonilla.
The US-Iran war is putting even more pressure on banks.
“There are uncertainties with regard to depositors,” says Hobeika. “The public sector banks have weak management and governance structures. Financial reporting is weak, and that puts pressure on asset quality and capitalisation.”
If the conflict lasts a long time, the government will start withdrawing funds to pay salaries and contractors.
“That will affect deposits at the public sector banks in the near term,” says Hobeika.
State-heavy system
Iraq’s banking system is dominated by a handful of state-owned banks with a market share of 75%-80%, and then 60-plus private banks competing for the remaining 20%-25% of the pie.
“Private banks have struggled to compete in a market with limited opportunities, small deposit bases and a narrow range of products, often focusing on very basic activities,” says Lea Hanna, an analyst at Moody’s.
“In 2019, we had a wave of Islamic banks getting bans on dealing with US dollars – reducing what had been a primary source of business.”
A few private banks have benefitted since then, namely those with majority ownership by foreign banks such as National Bank of Iraq, a subsidiary of Capital Bank of Jordan, and Bank of Baghdad, a subsidiary of Jordan Kuwait Bank.
“Supported by their affiliates, these banks are relatively well run compared to domestic peers and have ample capital buffers,” says Hanna.
“They have captured a large market share of US dollar transfers thanks to their strong US correspondent banking relationships that allow them easier access to US dollars. They have seen a surge in their profitability and an increase in their deposit base.”
Financial reform
The CBI has attempted to introduce reforms to the banking system, as part of a wider effort to enable it to channel funding to the private sector.
In early 2025, it increased the minimum issued and paid-up capital requirement to ID400bn ($305m), along with a requirement to establish correspondent banking relationships for foreign-currency trading. The plan was to increase these in ID50bn increments every six months, to hasten sector consolidation.
However, of Fitch’s rated banks, just two – state-owned Trade Bank of Iraq and Mansour Bank, a subsidiary of Qatar National Bank – met the full capital requirement.
“While a lot of banks managed to increase their capital, a number of them didn’t and have been struggling to improve their systems and compliance with anti-terrorism and anti-money laundering regulations,” says Hobeika.
“These systems take a long time to improve, and it costs the banks too. For that reason, they have agreed with the central bank to postpone implementation to 2027/28.”
The expectation is that the number of private Iraqi banks will shrink from 60 to about half that number by 2028.
“Iraq’s banking sector is undergoing a significant overhaul, with the Central Bank pushing through higher capital requirements, improved anti-money-laundering compliance, and a shift towards commercial banks managing their own international correspondent relationships. These moves are welcomed,” says Bonilla.
But the harder work remains, argues Bonilla: state-owned banks still carry high levels of non-performing loans, weak governance and a history of politically directed lending, while private sector credit remains among the lowest in the region.
“The stakes are high as the IMF estimates that a comprehensive reform of the financial sector, alongside broader governance and regulatory changes, could double Iraq’s non-oil growth potential over the medium term, adding around 4 percentage points to GDP,” says Bonilla.
“For now, the reforms address the plumbing. The structural transformation of a banking system to serve the private sector is still largely ahead.”
Clouded outlook
So far, Iraq’s financial system seems to have averted a worst-case scenario of large-scale deposit withdrawals related to the Iran conflict.
Any deposit withdrawals seem to be more related to the introduction of a digital custom system ASYCUDA (Automated System for Customs Data) aimed at helping the government collect revenues, which saw a lot of traders trying to bypass the custom charges.
“This drove some exporters or traders to source US dollars outside the banking system, in the parallel market, to avoid stricter requirements and up-front payment of customs duties. That has now eased,” says Hanna.
Looking ahead, Fitch anticipates that most government financing is likely to come from the CBI through indirect purchases of government securities.
The central bank’s total claims on the central government represented about 52% of the domestic debt stock and 25% of the total debt stock at end-2024, notes the agency.
It envisages that a smaller portion will come from the government’s cash deposits, anticipated to fall to an average 12% by 2027.
Fitch says the CBI’s balance sheet limits refinancing risks, while the FX reserves are large enough to absorb the expansion of that balance sheet without putting pressure on the exchange-rate peg with the US dollar.
Surging foreign direct investment comes as a source of comfort, with annual inflows rising from around $2bn in 2022 to $5bn-$7bn from 2023 onwards.
Reform of the financial system will remain at the top of the new government’s in-tray.
The regional environment is unconducive to this mammoth task, and it can only hope that an end to the conflict would support ongoing Iraqi efforts to build a financial system comparable to that of some of its Gulf neighbours.
MEED’s June 2026 report on Iraq also includes:
> OVERVIEW: Iraq enters era of resilience, reform and rising risks
> OIL & GAS: Iraqi oil and gas sector in crisis
> POWER & WATER: Focus shifts to delivery of Iraq utilities expansion
> CONSTRUCTION: Momentum builds in Iraq’s post-war construction sectorhttps://image.digitalinsightresearch.in/uploads/NewsArticle/16799540/main.gif -
JinkoSolar signs 2GW deal for Abu Dhabi solar project Administrator13 May 2026
China’s JinkoSolar has signed an agreement with Abu Dhabi Future Energy Company (Masdar) to supply 2GW of photovoltaic (PV) modules for the round-the-clock renewable energy project in Abu Dhabi.
The agreement covers the supply of JinkoSolar’s Tiger Neo series modules for the project, which is being developed by Masdar in collaboration with Emirates Water & Electricity Company (Ewec).
The landmark $6bn project combines a 5.2GW solar PV plant with a 19 gigawatt-hour battery energy storage system (bess).
It entered construction in October 2025 with India’s Larsen & Toubro and Power China working as contractors. It is known as the world’s first gigascale round-the-clock renewable energy project.
Masdar had earlier selected JinkoSolar and JA Solar as preferred suppliers for solar PV modules, and CATL (Contemporary Amperex Technology) as preferred supplier for the bess segment.
The project is designed to provide baseload renewable power and address intermittency challenges associated with solar generation. The developers said the scheme will serve as a model for similar projects internationally.
JinkoSolar said the Tiger Neo modules supplied for the project are based on N-type TOPCon technology and have been adapted to meet the technical requirements of the development.
Senior executives from both companies attended the signing ceremony in Abu Dhabi, including Mohamed Jameel Al-Ramahi, CEO of Masdar, and Charlie Cao, CEO of JinkoSolar.
Jinko has won several major contracts in recent years, including a contract to supply solar PV modules with a capacity of 3GW for Saudi Arabia’s Haden and Al-Khushaybi solar projects.
It also recently announced the signing of a 2GW solar PV module supply agreement with China Energy Engineering Corporation (CEEC) for Saudi Arabia’s Phase Six Khurais PV project.
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Dubai opens prequalification for Jebel Ali STP expansion Administrator13 May 2026
Dubai Municipality has issued a request for qualifications for the Jebel Ali sewerage treatment plant (STP) expansion – phase 3 project.
The DS150/3 project will be delivered under a public-private partnership (PPP) model on a design, build, finance, own, operate and transfer basis.
The project involves the development of a new water resource recovery facility with an ultimate treatment capacity of up to 1 million cubic metres a day (cm/d).
It is being procured through Dubai Municipality’s Sewerage and Recycled Water Projects Department and will be delivered through a two-stage operational approach over a 30-year concession period.
The bid submission deadline is 18 June.
UK-headquartered Deloitte is acting as financial adviser, Aecom as technical adviser and CMS as legal adviser.
Dubai Municipality said the project will also include additional land uses and community-focused amenities as part of broader sustainability and urban integration objectives.
Phase one and two expansion
In April, the deadline was extended for contractors to submit bids for an engineering, procurement and construction (EPC) contract covering the expansion of the Jebel Ali STP phases one and two.
Located on a 670-hectare site in Jebel Ali, the original wastewater facility has a treatment capacity of about 675,000 cm/d following the completion of phase two in 2019, combining approximately 300,000 cm/d from phase one and 375,000 cm/d from phase two.
The upgraded facility will be capable of treating an additional sewage flow of 100,000 cm/d, with the expansion estimated to cost $300m.
The new bid submission deadline is 11 June.
UK-headquartered KPMG and UAE-based Tribe Infrastructure are serving as financial advisers on the project.
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Iraq LNG project delayed until next year Administrator13 May 2026
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Iraq’s first liquefied natural gas (LNG) import terminal, which has an estimated project value of $450m, is now expected to become operational in 2027 due to delays caused by the regional war and disruption to shipping through the Strait of Hormuz.
Work on jetty reinforcement and fixed terminal infrastructure at the Port of Khor Al-Zubair has been delayed, according to a statement from US-based Excelerate Energy, which is contracted to develop the facility.
In its statement, the company said: “We are revising our full-year guidance to reflect the delayed startup of our Iraq terminal due to the ongoing conflict in the Middle East.”
It added: “The Iraq project fundamentals remain unchanged. Looking ahead, we continue to have confidence in our sequenced earnings growth through 2028.”
In October 2025, Excelerate signed a definitive commercial agreement with a subsidiary of Iraq’s Ministry of Electricity for the development of the country’s first LNG import terminal.
The integrated project includes a five-year agreement for regasification services and LNG supply, with extension options, and a minimum contracted offtake of 250 million standard cubic feet a day (cf/d).
Excelerate said: “Jetty reinforcement and construction of the fixed terminal infrastructure have been delayed temporarily due to the conflict in the Middle East and the terminal is no longer expected to commence operations in the third quarter of 2026 as previously disclosed.
“Project startup is now expected in 2027. The long-term fundamentals supporting the project remain unchanged, driven by chronic power shortages and limited domestic gas processing capacity in Iraq.
“Current conditions further reinforce the country’s need for reliable and scalable LNG import infrastructure and construction will resume as conditions allow.”
Earlier this year, Iraq’s Ministry of Electricity said that the terminal was on track to come online on 1 June, ahead of expected gas shortages during the summer months.
Then, in late April, the ministry said the project had been delayed by several months and was expected to come online in August at the earliest.
Although Iraq is Opec’s second-largest oil producer after Saudi Arabia, it is a net natural gas importer because its lack of infrastructure investment has meant that, until 2023, it flared roughly half of the estimated 3.12 billion cf/d of gas produced in association with crude oil.
Iraq’s reliance on flaring associated gas instead of gathering and processing it has prevented the country from fully realising its potential as a gas producer and forced the Iraqi government to rely on costly gas and electricity imports from Iran.
READ THE MAY 2026 MEED BUSINESS REVIEW – click here to view PDFGlobal energy sector forced to recalibrate; Conflict hits debt issuance and listings activity; UAE’s non-oil sector faces unclear recovery period amid disruption.
Distributed to senior decision-makers in the region and around the world, the May 2026 edition of MEED Business Review includes:
> REGIONAL LNG: War undermines business case for Middle East LNG> CAPITAL MARKETS: Damage avoidance frames debt issuance> MARKET FOCUS: Conflict tests UAE diversificationTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/16803348/main.jpg