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![Oman’s GDP expands 1.7 percent in Q1 2024, reaching $24.77 billion](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Crude petroleum activities declined by 3.3 percent, recording OMR2.55 billion
![KEZAD invests $81.67 million in expanding natural gas network in Abu Dhabi](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
The new network has been developed by KEZAD Group's subsidiary, KEZAD Utilities & Facilities Management Company, in three phases
![Kuwait announces massive oil and gas discovery estimated at 3.2 billion barrels](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
This discovery has raised hopes of finding additional hydrocarbons to boost the country's energy resources
![Egypt approves $200 million in energy projects with foreign, national companies](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Agreements include a deal to search for and exploit gas and crude oil in the North Port Fouad offshore area in the Mediterranean
![Saudi Arabia uncovers seven new oil and natural gas discoveries in Eastern Province, Empty Quarter](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
In the Eastern Province, two unconventional oil fields were found - Al-Ladam and Al-Farouq
![Natural gas shortage drives 54 percent surge in Egyptian fertilizer prices](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Month-on-month prices reached up to $416.57 per ton in June, compared to $270.83 per ton previously
![Kuwait new energy strategy takes off but oil still dominates](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20614'%3E%3C/svg%3E)
Revival of projects in the energy sector key to the country’s development
![Upstream oil and gas investment needs to rise 22 percent by 2030 to meet surging demand, $4.3 trillion required: Report](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Global upstream oil and gas capital expenditure is expected to grow by $24 billion this yearÂ
![Sharjah’s GDP surges 6.5 percent to $39.5 billion in 2023](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Non-oil sectors also saw a significant 7.1 percent increase, reaching $38.79 billion in 2023
![UAE’s ADNOC Drilling secures $1.69 billion contract to develop 144 unconventional wells](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20684'%3E%3C/svg%3E)
To service the contract and explore future opportunities, ADNOC Drilling has incorporated Turnwell Industries
![UAE’s ADNOC to begin operations at Ras Al Sadr gas field in Abu Dhabi](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20680'%3E%3C/svg%3E)
The Ras Al Sadr gas field has a production capacity of up to 100 million standard cubic feet of gas per day
![UAE’s SNOC signs deal with Eni to explore oil in Ras Al Khaimah](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20684'%3E%3C/svg%3E)
Under the terms of the deal, Eni retains a 60 percent ownership stake and assumes the role of the operator
![ADNOC Gas net income surges 21 percent in Q1 2024 at $1.18 billion](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Domestic gas net income unit margin saw a 20 percent Y-o-Y improvement
![UAE’s Sharjah announces discovery of new gas reserves in Al-Hadiba field](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20682'%3E%3C/svg%3E)
The gas field contains economically viable quantities of gas, according to the Sharjah Petroleum Council
![QatarEnergy inks historic $6 billion agreement to build 18 ultra-modern LNG vessels in China](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
LNG supplies from Qatar to China reached around 17 million tons in 2023
![Saudi Arabia’s crude oil production reaches seven-month high in February](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
This represented a rise of 55,000 bpd or 0.61 percent compared to the previous month
![Saudi Arabia’s industrial production index up 1 percent in February](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Index reveals 2.1 percent annual increase in manufacturing activity
![Oil prices decline as Middle East tensions ease: Brent crude falls below $90](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20682'%3E%3C/svg%3E)
Investors await consumer price index data from U.S. and China later this week
![Saudi Aramco expands Fadhili Gas Plant with $7.7 billion in EPC contracts](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20682'%3E%3C/svg%3E)
This expansion initiative aims to enhance the plant's processing capacity from 2.5 to a potential 4 bscfd
![Abu Dhabi’s ADNOC Gas shareholders approve $3.25 billion dividend for 2023](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Company plans to invest over $13 billion between 2024 and 2029 in growth opportunities
![Saudi Arabia’s ADES Holding inks two agreements for oil exploration and production in Egypt’s Gulf of Suez](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
For FY 2023/2024, Egypt has raised its projected total investments in oil and natural gas to $5.79 billion
![Oman LNG inks deal to provide LNG supply to Germany’s SEFE](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
The LNG deliveries from Oman to Germany scheduled between 2026 and 2029
![Qatar’s fiscal strength, gas expansion plans earn ‘AA’ rating upgrade: Report](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
The report expressed confidence in Qatar's debt-to-GDP ratio
![Saudi Arabia’s industrial production index up 0.3 percent in January on mining and quarrying](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Manufacturing activities in the Kingdom rose by 1.1 percent in January 2024