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US PE firm delays sale of stake in Ascent Resources after Adic files lawsuit against it
Adic claimed that the move by EMG to sell its stake to a continuation fund aims to lock in windfalls…
Siemens Energy names Hussein Shoukry as MD for Middle East + Africa
Shoukry will be based in the UAE and oversee operations across 29 offices and over 4k employees
Infinity Power breaks ground on Ras Ghareb wind farm
The project will cost around USD 216.7 mn and is expected to come online by May 2027
THIS MORNING: November was a bad month for stocks + You’ll pay more at the pump this month
Plus: UAE could have a role in the US’ AI supply chain push
Dubai introduces tighter regulations for trading petroleum products
The Dubai Supreme Council of Energy will oversee petroleum products trading
Taqa, Dubal Holding take over EGA’s power and water generation assets, eye boosting clean power capacity for EGA
Taqa and Dubal will purchase EGA’s power and water assets in Al Taweelah for USD 1.9 bn
GulfNav finally seals AED 3.2 bn acquisition of Brooge’s assets
The acquisition puts GulfNav on course for a projected paid-up capital of about AED 3.5 bn
JPMorgan sees oil prices dipping as low as USD 30 per barrel in 2027
This comes as oil markets enter a phase of oversupply
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