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ADNOC Drilling closes JV

It is a JV between ADNOC Drilling, SLB and Patterson UTI.

Boeing to boost 787 production

The firm will invest$1bn to ramp up production in South Carolina.

ADNOC signs deal with PETRONAS

Under the agreement, ADNOC will supply 1m tons of LNG per year.

Aramco-Horse Powertrain deal completed

An agreement for the purchase of 10% equity stake was signed in June 2024.

Roche to buy Poseida Therapeutics

The $1.5 billion deal is due to close in early 2025.

Middle East sets global standards in renewable energy

  • This TRENDS Explainer Video explores how the Middle East is fueling its economy with renewables like solar, wind, and green hydrogen, catalyzing a global clean energy shift
  • By 2030, solar energy is expected to make up 15 percent of the Middle East's power mix, while new wind projects in Oman, Egypt, and Saudi Arabia will generate local jobs

In a significant shift towards sustainable energy, the Middle East is making strides in the adoption of renewable energy sources, particularly solar and wind power. By 2030, solar energy is expected to make up 15 percent of the region’s power mix, generating thousands of new jobs in the solar sector.

Alongside solar, wind energy is also gaining traction. New projects in countries like Oman, Egypt, and Saudi Arabia are set to create numerous job opportunities in wind farms, helping the region inch closer to its clean energy goals.

The Middle East is positioning itself as a global leader in green hydrogen. Recent trade agreements, such as the UAE-Germany Hydrogen Partnership and the Saudi Arabia-Germany Hydrogen Agreement, indicate that the region is set to become a significant exporter of green hydrogen in the coming decades. The region is also focusing on Carbon Capture and Storage (CCS) technology. This will not only reduce emissions from industrial processes but also contribute to the production of low-carbon hydrogen.

The Middle East’s foray into renewable energy is not just a regional milestone; it has global implications. The innovations and exports from the region are expected to create millions of renewable energy jobs worldwide, accelerating the global transition to a net-zero future.

This week’s TRENDS Explainer Video dives into how the Middle East is energizing its economy through renewables. Discover how solar, wind, and green hydrogen are not just transforming the region but setting the stage for a global clean energy revolution!