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PC Oman Ventures Ltd (PCOVL), a subsidiary of PETRONAS, has signed a Concession Agreement with the Government of the Sultanate of Oman and OQ Exploration and Production Batinah Offshore LLC (OQEP) for the exploration of oil and gas in Block 18

Block 18 is a large offshore exploration area located in Northeast Oman, spanning more than 21,000 sq km and offering significant frontier exploration potential across diverse geological settings, from shallow to ultra-deep water. Under the concession agreement, PCOVL will become operator of Block 18 in partnership with OQEP.

PCOVL has been active in the Sultanate of Oman since 2018 and currently holds a participating interest in Block 61.  This collaboration builds on the Memorandum of Understanding (MoU) signed between PETRONAS and OQEP in October 2025, strengthening the strategic partnership between both companies and reinforcing PETRONAS’ long-term presence in the Sultanate of Oman. 

The partnership supports PETRONAS’ aspiration to enhance its competitive upstream portfolio by aligning its offshore exploration capability with OQEP’s regional expertise, laying the foundation for a mutually beneficial venture.

"Building on our technical strengths and successes, PETRONAS continues to expand its exploration activities into new frontiers. Through our innovative exploration approaches and OQEP’s basin expertise, we aim to jointly unlock the potential of Block 18, contributing to Oman’s long-term energy security. The addition of Block 18 aligns with our commitment to disciplined portfolio expansion, providing strategic optionality across our international portfolio," said Mohd Redhani Abdul Rahman, vice president of International Assets, PETRONAS.

Oil markets are trading headlines, but the real disruption is still building, says Neil Crosby, AVP Oil Analytics at Sparta

Oil markets are becoming increasingly difficult to trade, as geopolitical headlines rather than fundamentals drive price action.

Recent price moves underline just how unstable conditions have become. Crude has swung sharply within minutes, reflecting both elevated positioning and the sheer unpredictability of political developments.

In this environment, even flat price is becoming unreliable as a signal of underlying market conditions.

At the same time, what is being presented as de-escalation may not represent a genuine shift. The lack of clear diplomatic channels and conflicting messaging suggests that recent developments are more about managing the situation than resolving it.

More importantly, there is a growing disconnect between crude and refined product markets. While crude prices have remained relatively contained, product markets, particularly diesel and jet, continue to reflect significant tightness. This divergence highlights a deeper issue: the physical supply crunch has not been resolved.

The key variable remains the Strait of Hormuz. Until there is clear and sustained evidence that flows through the strait have normalised, the market cannot be considered stable. And even in a best-case scenario, the process of restoring supply chains will take time.

Repositioning vessels, restarting refineries and rebuilding inventories are not immediate fixes. Even if flows resume, the system will take weeks, if not months, to return to anything resembling normal conditions.

That has important implications for pricing. While short-term moves may be driven by headlines or policy signals, the underlying balance remains tight. In that context, oil may still be underpriced relative to the scale and duration of disruption.

For traders, the focus is shifting away from flat price and towards physical indicators such as spreads, which better reflect real market stress.

This is no longer just a price story. It is a structural disruption, and one that is likely to persist.

Aramco, Honeywell and King Abdullah University of Science and Technology (KAUST) are collaborating to scale up the development of Crude-to-Chemicals (CTC) technology in a bid to maximise the value of crude oil and reduce costs associated with CTC conversion 

The new CTC pathway will entail converting crude oil directly into light olefins and other high-demand chemicals, resulting in improved fuel efficiency, carbon utilisation, and process economics—allowing for more efficient and cost-effective production at scale.

The collaboration aligns with Saudi Arabia’s Vision 2030 by helping to advance economic diversification, build national research and technology capabilities, and strengthen the Kingdom’s position in the global chemicals market, combining academia and industry expertise to accelerate technology development and national capabilities.

Dr. Ali A. Al-Meshari, Aramco senior vice president of technology oversight & coordination, said, “This collaboration with Honeywell UOP and KAUST furthers Aramco's efforts to drive innovation and shape the future of petrochemicals. By harnessing the power of cutting-edge technologies, we aim to enhance energy efficiency and unlock increased value from every barrel of crude. This novel Crude-to-Chemicals process is aligned with our vision of supporting the global transition towards cleaner, high-performance chemical production. Moreover, this initiative demonstrates our focus on contributing to the growth of a vibrant ecosystem, where the deployment of innovative technologies can create lasting value for our stakeholders, our communities, and the environment.”

Rajesh Gattupalli, Honeywell UOP president, added, “This agreement marks a defining moment in our strategic collaboration with Aramco and KAUST – and in the global evolution of Crude-to-Chemicals technology. With Honeywell UOP’s deep expertise in catalytic process design and commercial scale-up, we’re well positioned to drive this innovation forward.”

KNF, a leader in diaphragm pumps, has introduced four new intelligent pumps for flow, pressure, and vacuum control as well as versatile dosing

For liquid metering applications, KNF has developed the FMS-FC 1.400 diaphragm pump with integrated flow control , which uses a precise flow sensor and ensures precise, accurate, and stable liquid delivery. It achieves a maximum flow rate of 3.4 l/min, a maximum pressure of 6 bar (rel.) and offers a maximum suction height of 3 mH2O.

The FD 1.200 with Versatile Dosing delivers precise and repeatable volumes for demanding applications, using advanced stepper motor technology and actively actuated valves. It offers a maximum flow rate of 40 ml/min, a maximum pressure of 6 bar (rel.), and a suction height of at least 4.5 mH₂O. Compact, chemically resistant, and customisable, it sets a new standard for accurate dosing.

The new MGP 75 diaphragm gas pump with intelligent pressure control maintains precise and consistent gas pressure even under changing conditions. Using the latest KNF motor technology, it achieves a maximum flow rate of 78 l/min, a maximum pressure of 1 bar (rel.), and a maximum vacuum down to 25 mbar (abs.).

The new micro vacuum pump NVC 830 maintains exact vacuum levels in demanding environmentsusing intelligent vacuum control This compact pump delivers a maximum flow rate of 4.7 l/min and a maximum vacuum down to 55 mbar (abs.).

Special features

Each pump integrates modern sensor technology and proprietary motor control to maintain exact setpoints, even under dynamic conditions like changing pressure or media temperature. The pumps can operate autonomously or can be controlled via analog signals such as control voltage. For use in complex systems, the pumps also support modern communication protocols like UART, enabling seamless integration into smart environments.

Based on a modular design, the pumps can be customised quickly and cost-effectively. Options include material selection, electrical and line connections, and digital settings such as output setpoint, ramp-up speed or maximum motor speed limits, depending on the pump. This flexibility makes the pumps an ideal choice for critical applications in industrial processes.

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 fossil-fuel sector offers the largest and most cost-effective opportunity for rapid methane abatement, according to the newly released Global Methane Status Report, launched on the sidelines of COP30 in Belém

Produced by the UN Environment Programme (UNEP) and the Climate and Clean Air Coalition (CCAC), the Global Methane Status Report assesses progress and remaining gaps in efforts to cut methane - a potent greenhouse gas responsible for nearly a third of current warming.

The report shows that although methane emissions are still rising, projected 2030 emissions under current legislation are already lower than earlier forecasts due to a mix of national policies, sectoral regulations, and market shifts. However, the report warns that only full-scale implementation of proven and available control measures will close the gap to the Global Methane Pledge’s target of a 30% cut from 2020 levels by 2030.

Urging decisive methane action to deliver the Global Methane Pledge, ministers attending the Global Methane Pledge Ministerial stressed that the policies, technologies, and partnerships needed to meet the target are available, but require rapid scale-up across the energy, agriculture, and waste sectors. Ministers also called for increased transparency from countries on ambition and action to track progress.

Julie Dabrusin, Canada’s Minister of Environment and Climate Change and Co-Convener of the Global Methane Pledge, said, “This report is a crucial assessment of our progress and a key indicator of the work that’s required to meet the Global Methane Pledge goal. In just four years, we have made improvements, but we must continue to drive faster, deeper methane cuts. Every tonne reduced brings us closer to cleaner air, more resilient communities, and a thriving global economy. It is important for all countries that have agreed to the Global Methane Pledge to continue to work closely together to drive momentum on methane mitigation, turning ambition into tangible benefits for the planet.”

The fossil-fuel sector is the second largest source of anthropogenic methane emissions, responsible for approximately one third of the global total. Under current legislation, emissions from the sector are expected to rise by 8% in 2050 compared to 2020. This sector presents the single greatest potential for rapid, cost-effective methane abatement, according to the report. These reductions could be achieved through readily available technologies and practices, often at low cost.

Since the launch of the GMP, methane abatement policies in the oil and gas sector have become more innovative and widespread, while voluntary initiatives such as the Oil and Gas Methane Partnership (OGMP) 2.0 now cover up to 45% of global oil and gas production.

The rate of policy development and country participation, however, still fall short of what is needed to achieve the 2030 targets. Implementation and enforcement must also be strengthened.

The recent adoption of novel approaches, such as the European Union import standard, offers the potential to use the market to mitigate methane in oil and gas sector more rapidly at the global scale.

Bridging the methane policy gap in the fossil fuel sector calls for strong implementation of existing policies, continuous capacity building, increased ambition from additional producing countries, ramped up technical support and innovative financial mechanisms to facilitate mitigation in developing countries.

Key measures recommended include:

• enhancing monitoring, reporting and verification (MRV) systems across all fossil fuel operations
• expanding the use of direct measurement protocols and corroborated satellite data which could improve the accuracy and transparency of inventories
• expanding leak detection and repair (LDAR) programmes in oil and gas, which not only help reduce leaks but also enhance data quality for inventories and enhance workplace safety and asset integrity;
• ensuring proper sealing techniques during well closure, given methane emissions from abandoned wells can continue for decades after activities cease;
• strengthening enforcement mechanisms with the establishment of clear accountability structures, penalties for non-compliance and independent oversight;
• facilitating access to finance and capacity building;
• harnessing import standards as market leverage, creating a clear incentive for producing countries to adopt stronger mitigation practices; and
• leveraging international and bilateral frameworks for capacity and alignment.