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Oman’s Ministry of Energy and Minerals has announced the offering of five concession areas in the oil and gas sector for competitive bidding to local and international petroleum companies

The five concession areas are distributed across a wide geographical area and have significant geological potential, according to the Ministry. They are as follows:
· Blocks 12 and 16: Located in the “Greater Barik Area” in central Oman, covering areas of 5,050 sq km and 4,496 sq. km respectively.
· Block 55: Located in the “Eastern Flank Province”, spanning an area of 7,564 sq. km.
· Blocks 42 and 45: Located in the “Sharqiyah Sands Basin” and surrounding areas, with Block (42) covering 30,682 sq. km and Block (45) covering 5,483 sq. km.

The Ministry explained that the application process goes through several stages, including reviewing the available opportunities, registering and submitting the required documents, obtaining the technical data, and then submitting proposals through the designated platform before the deadline. Companies interested in participating can review the tender details through the tender website via the QR Code. Registration will commence on 12 April 2026 and continue until 30 September 2026, with results to be announced following the completion of the technical and financial evaluation of the submitted bids.

The Ministry affirmed that the bid round is part of its ongoing approach to enhancing the investment environment and improving transparency, thereby contributing to attracting quality investments, strengthening international partnerships, transferring modern technologies, and maximising the added value of the oil and gas sector, while supporting sustainability and enhancing the sector’s contribution to the national economy, in line with the objectives of Oman Vision 2040.

The launch of the bid round follows the signing of a concession agreement in February between Oman's Ministry of Energy and Minerals and a joint venture of OQ Exploration and Production and Malaysian group Petronas for offshore block (18) in the Sea of Oman covering a 21,000 sq km area, which offers significant frontier exploration potential across diverse geological settings, from shallow to ultra-deep water.

The global economic outlook has deteriorated sharply in recent weeks, and the fallout from the Middle East crisis is expected to hit the Middle East and North Africa the hardest, according to the latest edition of the World Economic Forum’s Chief Economists’ Outlook

Nearly nine in ten chief economists surveyed expect global growth to weaken over the next 12 months, in contrast to the cautious optimism seen at the start of the year, as conflict in the Middle East and the closure of the Strait of Hormuz fuel concerns over a major global economic shock.

Chief economists expect that If the closure of the Strait of Hormuz persists into the second half of the year, its impact could approach the severity of the COVID-19 crisis, compounding effects across global supply chains, energy and food costs. An overwhelming 94% of the surveyed chief economists expect global inflation to increase over the coming year.

“Only months ago, the Chief Economists community was cautiously optimistic. The conflict in the Middle East changed that, and the economic scarring from the situation thus far is already expected to last into the months ahead,” said Saadia Zahidi, managing director, World Economic Forum. “The longer the disruption lasts, the heavier the long-term cost for those who can least afford it.”

Uneven regional outlook

The Middle East and North Africa region is the hardest hit. After being viewed as one of the brighter economic regions only months ago, 88% of the surveyed chief economists now expect weak or very weak growth – the sharpest regional reversal in the survey – a direct reflection of the conflict, higher regional food exposure, and weaker employment prospects. Elsewhere, the outlook is mixed: inflation expectations have climbed sharply in sub-Saharan Africa, while Europe faces mounting stagflation risks as growth weakens and inflation fears mount. By contrast, India and the United States are expected to remain relatively resilient, supported by domestic demand and investment. This edition also examines how multinational companies are recalibrating investment and supply chains in a more fractured risk environment, with the US, India and South-East Asia seen as the most attractive business locations.

Despite the sharp deterioration, most of the chief economists do not expect a recession within the next 12 months, even as they see little prospect of the economy growing more resilient in the near term. Much will depend on the length of the disruption: a shorter shock could leave room for recovery, while a prolonged closure would deepen the strain on the global economy. Financial markets are expected to come under increasing strain, with 79% of respondents anticipating rising volatility in private debt markets over the next year; 74% also expect public debt market volatility to increase and 68% expect stock market volatility to increase.

The Chief Economists’ Outlook builds on consultations and surveys with leading chief economists from the public and private sectors, organised by the World Economic Forum’s Centre for the New Economy and Society.

As the Uganda National Oil Company aims to build a crude refinery, it has reached out to a unit of global commodities trader, Vitol, for a US$2bn loan to support the project alongside construction and infrastructure developments

According to Henry Musasizi, Uganda's junior finance minister, this seven-year tenor loan from Vitol Bahrain EC (VBA) comes with an interest rate of 4.92%. The minister worked on advancing the approval process for the credit line and the loan, which involved significant lawmakers, who sanctioned the development with a majority verdict.

Musasizi said that Vitol's support "presents an opportunity to access non-traditional financing to implement. ..projects and support the government in developing national infrastructure."  

Vitol Bahrain EC has a long-standing presence in Uganda's downstream sector, functioning as the sole supplier of refined petroleum products to UNOC, before the state-owned company sells it to retailers across the country.

Alongside the refinery, the loan amount will also be covering road construction, a petroleum products storage terminal and extension of a petroleum pipeline from western Kenya to Uganda's capital Kampala.

Previously, the UNOC also concluded a deal with the UAE-based Alpha MBM Investments, whereby a domestic refinery with a capacity of 60,000 barrels per day is in the pipeline. The agreement accords 60% stake on the refinery to the UAE firm while UNOC retains 40%.

Uganda is looking to begin commercial oil generation starting next year from fields in its west.

Manufacturers in the UAE and Saudi Arabia are leading the way globally in adopting and scaling advanced technologies, according to Rockwell Automation's 11th annual State of Smart Manufacturing Report 

The report draws on research conducted with manufacturing executives worldwide, including a representative sample from the Middle East. Findings indicate that manufacturers in the region are moving beyond planning and experimentation, with a growing focus on deploying digital technologies at scale to improve operational performance.

According to the study, the Middle East has emerged as the world's most committed region when it comes to digital transformation. Nearly all respondents, 98%, consider digital transformation essential to their business, placing the region ahead of Europe, the United States and the global average. This commitment is reflected in spending priorities, with manufacturers dedicating close to 30% of their operating budgets to industrial technology investments.

“Manufacturers in the Middle East are not just adopting digital technologies, they are scaling them at pace,” said Ediz Eren, regional vice-president, Middle East, Africa and Türkiye, Rockwell Automation.

“What sets the region apart is the combination of strong investment, clear strategic intent and a willingness to embed advanced technologies directly into operational environments.”

AI drives industrial transformation

Artificial intelligence continues to play a central role in the region’s manufacturing evolution. The report shows that AI adoption has reached near-universal levels, with almost every manufacturer either already using AI technologies or planning to do so. Generative AI has also gained widespread acceptance, becoming integrated across industrial operations throughout the region.

Rather than being limited to experimental applications, AI is increasingly being incorporated into operational technology environments. Manufacturers are using it to enhance quality management, strengthen cybersecurity measures and optimise production processes.

The study found that organisations are prioritising technologies capable of delivering measurable business outcomes. AI and machine learning were identified as the technologies generating the highest return on investment, reinforcing the region’s focus on practical and performance-driven digital transformation strategies.

Workforce and cyber security remain priorities

As digital adoption accelerates, manufacturers are facing new organisational challenges. Workforce readiness has become a major concern, with change management emerging as the leading challenge as companies introduce advanced technologies throughout their operations.

To address these issues, manufacturers are expanding reskilling initiatives and increasing efforts to recruit employees with expertise in digital technologies and artificial intelligence. The report highlights a growing recognition that future manufacturing competitiveness will depend heavily on workforce capabilities.

Cybersecurity continues to rank among the highest priorities for industrial organisations. As operational environments become more connected, manufacturers are investing heavily in protecting digital systems while managing the risks associated with increased connectivity.

The report also highlights growing interest in simulation technologies such as digital twins. Adoption plans in the Middle East exceed those seen in other regions, with many organisations preparing to invest in these technologies over the coming year. Digital twins are increasingly being used to model production environments, test operational changes and improve efficiency before implementation.

Despite strong progress in digitalisation, the research indicates that many manufacturers still struggle to maximise the value of their operational data. While significant volumes of data are being collected, a substantial proportion remains underutilised, highlighting the need for stronger data-driven decision-making capabilities.

Overall, the findings suggest that manufacturers in the Middle East are pursuing a distinctive approach to digital transformation characterised by significant investment, widespread technology adoption and a strong emphasis on operational outcomes. The report concludes that the region is not only keeping pace with global manufacturing trends but is increasingly helping shape the future direction of industrial transformation.

The State of Smart Manufacturing Report captures perspectives from manufacturing leaders across a range of sectors, including automotive, life sciences, consumer goods and industrial manufacturing. The research examines how organisations are adopting technologies such as artificial intelligence, cybersecurity solutions, digital twins and workforce development strategies as they respond to growing operational complexity and competitive pressures.

In the oil and gas industry, where every second counts and every decision impacts profitability and safety, robust security is not just a luxury – it's a necessity

From protecting critical assets to safeguarding human lives, security systems must meet the highest standards of reliability and performance.

Pelco, a leader in video security, is uniquely positioned to address the challenges faced by oil and gas companies in the Middle East, offering a fresh perspective on how to optimise security systems seamlessly. With our upcoming online event, we invite you to explore how Pelco can help tackle worker safety, asset protection and operational efficiency in this complex industry.

Addressing oil and gas challenges head-on

Oil and gas operations in the Middle East span harsh deserts, sprawling refineries and high-risk offshore environments. Physical, environmental and digital threats are converging, and security systems must evolve to meet these overlapping demands. Our upcoming online event will focus on three critical areas where Pelco's expertise can make a difference:

1. Improve worker safety and HSE compliance

Ensuring worker safety is both a moral responsibility and a regulatory imperative. Health, Safety and Environmental (HSE) compliance is a top priority for oil and gas operations. Pelco's advanced portfolio is designed to help you meet these standards.

Edge-based analytics and intelligent video security can be valuable tools in supporting site safety. These systems can help detect safety incidents, such as slips or falls, especially in areas where oily surfaces, heat or dust create additional hazards. When incidents occur in remote areas, automated detection can prompt faster intervention, thereby closing the gap between the event and the response.

Personal Protective Equipment (PPE) compliance is another key safety concern. High temperatures in the Middle East can lead to discomfort, and in some cases, workers may be tempted to remove protective gear, such as hard hats or vests, for temporary relief. In this case, AI-enabled video analytics can help identify instances of non-compliance, enabling safety teams to address the issue before it becomes a liability.

Zone-based behavioural analytics can help detect when someone enters a restricted or hazardous area or remains in a dangerous zone longer than necessary. For example, loitering detection near flare stacks or storage tanks can support situational awareness and proactive incident mitigation.

2. Improve security and asset protection

From refineries in the desert to offshore rigs in corrosive marine environments, your assets operate under pressure, so your security systems must withstand these harsh conditions. In areas where explosive gases or dust particles may be present, even basic equipment can pose risks. That’s why choosing video solutions built for hazardous environments is critical.

ExSite Enhanced cameras, featuring 316L stainless steel construction and certifications such as ATEX and IECEx, are designed for use in hazardous atmospheres. Whether it’s observing pipeline manifolds, wellheads or chemical storage areas, these systems deliver dependable performance in high-risk environments. In corrosive coastal locations, such as LNG terminals or offshore rigs, Pelco’s anti-corrosion models withstand salt spray, humidity and chemical exposure without compromising visibility.

For perimeter defence, long-range Silent Sentinel cameras give security teams early warning of approaching threats, detecting vehicles, vessels or drones from kilometres away in fog, darkness or dust. These systems are especially valuable for remote desert pipelines or unstaffed offshore installations, where rapid detection is critical to prevent disruptions.

3. Minimise downtime and maximise uptime

Every minute of downtime impacts revenue. For oil and gas operations, the cost of unplanned outages is measured in millions of dollars. With Pelco, your video security can become an operational asset.
Radiometric thermal cameras can detect overheating in transformers, compressors and electrical panels, allowing teams to take action before equipment failure occurs. At the same time, Pelco’s camera image health analytics help ensure your video infrastructure is always performing at its best. Our cameras automatically detect issues such as lens obstructions, misalignment or tampering, reducing the need for manual inspections and helping ensure your security coverage is always clear, optimised and ready when it matters most.

Join us to discover the Pelco advantage

We invite you to join our upcoming online event, where industry leaders and Pelco experts will dive deeper into these challenges and solutions. Together, we'll explore how Pelco can be the missing ingredient to supercharge your security and drive operational excellence in the Middle East oil and gas sector.

Don't miss this opportunity to gain actionable insights and position your operations for success. Register now and discover how Pelco can transform your approach to security.

The Middle East and North Africa (MENA) is set to become the world’s largest hydrogen exporter by 2060, while maintaining a dominant position in global oil and gas markets, according to DNV’s Oil & Gas Decarbonization in the Gulf Region report

The report highlights how Gulf Cooperation Council (GCC) countries are cutting the emissions intensity of their core oil and gas production while continuing to play a central role in global energy supply, presenting a picture of a region approaching the energy transition from a position of confidence and capital strength. Reductions in emissions intensity are occurring alongside continued hydrocarbon production and investment across renewables, electrification, hydrogen, methane abatement, digitalization, and carbon capture.

Since 2005, the GCC has produced nearly 18% of global oil and gas, a share expected to increase as investment continues in low-cost, advantaged resources. As global energy demand increasingly shifts toward Asia, the region’s location and cost competitiveness strengthen its position as a preferred supplier. At the same time, decarbonization measures are becoming an integral part of long-term competitiveness.

“The global energy transition will not progress at the same pace across regions, nor will it follow a single pathway,” said Brice Le Gallo, vice-president & regional director for Southern Europe, MEA & LATAM, Energy Systems at DNV. “In the Middle East, oil and gas remain central to economic stability and global energy security. The key challenge is to reduce their emissions footprint while accelerating investment in the technologies needed for a lower-carbon energy system.”

Electrification is being used to cut Scope 2 emissions from pumps, compressors, and offshore facilities, through grid connections, renewable power, and hybrid solutions. These efforts are supported by energy-efficiency measures and the use of digital tools and artificial intelligence to optimise drilling, reservoir management, and asset operations, reducing energy intensity and emissions per barrel produced.

Methane reduction remains one of the most immediate and cost-effective options for lowering emissions. Across the GCC, routine flaring is planned to be phased out by 2030 and leak detection and repair (LDAR) programmes are increasingly standard. National oil companies are also aligning with international methane initiatives, enabling continued production growth while reducing methane intensity in line with national net-zero targets.

GCC countries are realigning domestic energy systems to reduce oil and gas use domestically and free up volumes for export and low-carbon fuel production. Growth in renewables, electrification of transport and buildings, and efficiency gains are driving this shift. Investment in downstream industries, petrochemicals, and low-carbon fuels is also changing export profiles, moving beyond crude oil toward higher-value and lower-carbon energy products.

With access to low-cost natural gas, strong solar resources, and established industrial and export infrastructure, the region is well placed to scale both low-carbon hydrogen (produced from natural gas with carbon capture) and renewable hydrogen produced through electrolysis. By 2060, the Middle-East and North Africa region is projected to produce around 19 million tonnes of hydrogen and 13 million tonnes of ammonia per year, exporting about 50%, mainly toward Europe and advanced Asian economies.

“Hydrogen, ammonia, and carbon capture are becoming core elements of the GCC’s energy export model,” said Jan Zschommler, market area manager for the Middle East, Energy Systems at DNV. “As emissions requirements tighten, access to international markets will increasingly depend on carbon intensity. Integrating hydrogen production with renewable power, carbon capture, and existing industrial clusters allows the region to remain competitive while meeting these requirements.”

Carbon capture, utilization and storage (CCUS) is also set to grow. In January 2026, the UAE's Supreme Council for Financial and Economic Affairs has introduced Carbon Capture Policy as a further commitment to meeting their carbon reduction targets. Captured CO₂ volumes (including CO₂ removal) are expected to reach around 250 million tonnes per year by 2060, equivalent to roughly 8% of regional energy-related and industrial emissions.

Bioenergy with carbon capture (BECCS) and direct air capture (DAC) combined are expected to remove around 81 million tonnes of CO₂ per year by 2060, helping to offset emissions from sectors that are more difficult to decarbonise.

The full report is available at https://www.dnv.com/energy-transition-outlook/oil-and-gas-decarbonization-in-the-gulf-region/