In line with plans to localise the production of renewable energy in Saudi Arabia as part of its Vision 2030 economic diversification push, seven photovoltaic solar power projects with a capacity of 1.52 GW and worth $1.51bn (SAR5.6bn) were launched on the side-lines of the recently concluded Saudi Elenex exhibition.

Global energy investment totalled more than USD 1.8 trillion in 2018, a level similar to 2017. For the third year in a row, the power sector attracted more investment than the oil and gas industry.

The Government is allowing for the Government Pension Fund Global to be invested in unlisted renewable energy infrastructure under the dedicated environmental mandates. Such investments shall be subject to the same profitability and transparency requirements as the other investments of the Fund, says Siv Jensen, Minister of Finance.

World capital expenditure for both LNG plant and upstream infrastructure will total more than $200bn between 2019 and 2025.

The Arab Petroleum Investments Corporation (APICORP), a multilateral development financial institution, forecast in its MENA Annual Energy Investment Outlook 2019 that current and planned energy investments in the region add up to $1trn for the next five years.

BP and partners have sanctioned the Azeri Central East (ACE) project, the next stage of development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) oilfield complex in the Azerbaijan sector of the Caspian Sea.

To further explore opportunities for bilateral energy expansion, Turkish Energy and Natural Resources Minister Fatih Dönmez and German Federal Minister for Economic Affairs and Energy Peter Altmaier met in Ankara for the second Turkish-German Energy Forum in October last year to sign a letter of intent to enhance the Turkish-German energy partnership.

The investment incentives provided by Dubai government and the business opportunities up for grabs on the horizon were the crux of a meeting officials of the Dubai Land Department, DLD, had with a Russian delegation who participated in the recently concluded Annual Investment Meeting 2019.

The Saudi Arabian Oil Company, Saudi Aramco, and Hyundai Heavy Industries Holdings today announced that they have reached an agreement for Saudi Aramco’s subsidiary, Aramco Overseas Company B.V (AOC), to purchase a 17 percent stake in South Korea's Hyundai Oilbank, a subsidiary of Hyundai Heavy Industries Holdings.

China’s three state-owned oil companies are boosting domestic and overseas investment with the aim of increasing crude oil and natural gas output.