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Hungary’s MOL Group has signed a memorandum of understanding (MoU) with Libya’s National Oil Corporation (NOC) for cooperation in hydrocarbons exploration, technological innovation and crude trading, as international interest in Libya hots up

The strategic partnership agreement sets out the framework for NOC and MOL to exchange information and jointly explore potential areas of cooperation. These include hydrocarbon exploration and production, technological and field development innovations, oilfield services opportunities in Libya, crude supply and trading activities.

"We recognise Libya’s oil and gas industry as a pillar of strength and expertise. I am sure that this new agreement will act as a catalyst for further expanding our international portfolio, creating clear mutual value for both companies and reinforcing the resilience of our region. From the perspective of security of supply and energy sovereignty, particularly for landlocked countries, diversification of sources is of crucial importance. Our cooperation also goes beyond business, as we have agreed to rebuild our educational, scientific, and university ties in order to learn as much as possible from each other. Such partnerships can also help Europe to find its own path to competitiveness, rather than switching between different forms of energy dependency,” – said Zsolt Hernádi, chairman and CEO of the MOL Group.

The agreement comes as MOL is looking to expand its international portfolio to maintain its strategy target of at least 90,000 barrels of oil equivalent/day production level over the next five years, recently signing cooperation agreements with the national oil company of Kazakhstan (KazMunayGas), the national oil company of Azerbaijan (SOCAR), and the national oil company of Türkiye (Turkish Petroleum). The company has oil and gas exploration and production assets in nine countries, with production in eight countries: in Croatia, Azerbaijan, Iraq, Kazakhstan, Russia, Pakistan, Egypt, and Hungary.

The agreement also reflects the hotting up of international interest in Libya. Chevron recently signed an MoU with NOC to evaluate exploration and development opportunities, while TotalEnergies has signed an agreement extending the Libya Waha Concessions up to 2050, paving the way for further investments. TGS has a global provider of energy data and intelligence, has just signed a Letter of Intent (LOI) with North Africa Geophysical Company, (NAGECO),a subsidiary of the NOC to advance high-quality subsurface data, supporting Libya’s upstream development through modern, fit-for-purpose data and technology solutions. Libya’s latest upstream licensing round launched in March 2025, the first in 18 years, has attracted more than 40 bids, signalling growing international interest in Libya’s largely untapped hydrocarbon potential.

The Middle East shares the top spot with Europe as a preferred destination for energy professionals to relocate to, according to the 2026 Global Energy Talent Index (GETI) report, produced by Airswift and supported by Energy Jobline

While the report indicates a decline in global mobility, the Middle East and Europe are seen as the most attractive destinations with 25% each, while Asia has remained steady at 16%.

Jayden Wallis, president ASPAC & Airswift Resourcing at Airswift commented, “The Middle East is investing trillions of dollars to diversify their economies and are lowering barriers to entry so that organisations can secure the talent they need to deliver an ambitious pipeline of projects.”

The 2026 GETI findings show that the oil and gas sector is facing mounting pressure on its talent pipeline, as an ageing workforce, slowing salary growth and a declining willingness to relocate makes it difficult for hiring managers to retain existing talent and attract professionals.

Key findings

Key insights include:
• Nearly half of the workforce (48%) is now aged over 45, while just 19% is aged 25–34, highlighting the challenge of attracting younger talent.
• Salary optimism remains high with 67% of professionals expecting a pay rise next year, but this is down from 71% in 2025, signalling a slowdown in growth.
• Global mobility continues to decline, with only 75% of professionals willing to relocate for work, down from 80% last year and 89% in 2022.
• AI adoption is accelerating, with 45% of traditional energy professionals now using AI in their roles. This is a 187% increase since 2024, yet 30% still do not use AI to support career development.

Despite concerns about automation, hiring managers say engineering and technical roles remain the hardest to fill, with nearly half investing in learning and development and 45% using AI and automation to close skills gaps.

Over the last three years, AI has had a significant impact on the energy industry. While AI adoption remains slower than other sectors, AI is being used to support career development.
Despite concerns that AI could replace some engineering and technical operations roles, 50% of the hiring managers say that these are the roles they struggle the most to recruit for. To address these hiring challenges, hiring managers are changing recruitment processes and revising role requirements.

“As a highly physical and safety-critical industry, heads in hard hats will always be central to the industry’s success,” the report comments.

However, retaining existing talent and attracting new professionals remain key hiring challenges for 2026 and beyond.

The report shows that 50% of professionals and 60% of hiring managers say that pay has increased in 2025. However, while salary optimism remains strong, growth has slowed compared to previous years.

James Allen, CEO at Airswift said, “The ageing workforce challenge is becoming increasingly urgent to address as traditional energy organisations are struggling to make hires with the right technical expertise and experience. With only a third of hiring managers actively recruiting graduates to build their talent pipeline, there is an opportunity for the sector to do much more to secure the people it needs.”

Wallis said, “Hiring managers are increasingly struggling to recruit experienced professionals, while a smaller percentage of younger talent is entering the workforce. With the cost of boomerang professionals - those returning post-retirement on a contractual basis - rising, companies need to be proactive in addressing the talent gap. Investing in retention and attracting younger generations will be essential for closing the gap and securing the talent needed for the future.”

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.

The global oil and gas robotics market is forecast to grow from US$90.2bn in 2024 to US$205.5bn in 2030, according to data analytics and consulting company GlobalData

Robotics is rapidly transforming oil and gas operations as advances in artificial intelligence (AI) and cloud computing unlock the next phase of industrial automation. Previously focused on repetitive industrial tasks, robots can now operate autonomously, collaborate, and access cloud-based data in real time. AI enables advanced decision-making, navigation in complex environments, and reduced reliance on human intervention.

Despite progress in humanoid robotics, task-specific robots remain dominant. GlobalData’s Strategic Intelligence report, “Robotics in Oil and Gas,” highlights how robotics is increasingly being adopted across the oil and gas value chain to improve safety, efficiency, and asset integrity.

Operators such as Equinor deploy subsea autonomous vehicles, including Hydrone-R, for extended underwater inspections, while Shell uses Cyberhawk drones and Sensabot robots for aerial and ground-based inspection of flare stacks, tanks, and pipelines. BP and Chevron have trialled Spot quadruped robots to autonomously survey facilities and collect visual, thermal, and methane data, reducing personnel exposure to hazardous environments. While ADNOC deploys more than 65 robotics applications across its operations.

Ravindra Puranik, Oil and Gas Analyst at GlobalData, comments: “Autonomous robotic systems are being introduced across hazardous, remote, and offshore environments to perform inspection, surveillance, and monitoring tasks without continuous human control.”

These platforms deliver higher operational efficiency through faster inspection cycles, consistent task execution, and repeatable, high-quality data capture, independent of operator skill or availability.

GlobalData notes that offshore and subsea operations remain a major focus area for robotics deployment. Remotely operated vehicles (ROVs) continue to support real-time subsea inspection, maintenance, and intervention, while autonomous underwater vehicles enable long-duration seabed surveys and pipeline monitoring with reduced reliance on surface vessels.

Puranik concludes: “While challenges remain, the integration of robotics with digital twins, edge intelligence, and predictive analytics is accelerating. As these technologies mature, robotics will move beyond supporting roles to become indispensable operational assets, across the oil and gas industry.”

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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/