Event News

The symposium brought together a distinguished group of experts, senior executives, and decision-makers from both the energy and financial sectors.

The Sultanate of Oman is navigating a profound economic transformation, underpinned by an ambitious drive to diversify its national revenue streams and redefine its role within the global energy landscape.

For decades, traditional hydrocarbon resources have been the absolute bedrock of the nation's prosperity. However, as international markets increasingly pivot towards sustainable alternatives, Oman is strategically positioning itself to capitalise on this global shift. The nation's overarching blueprint, Oman Vision 2040, lays out a comprehensive framework for sustainable economic development, placing a heavy emphasis on reducing reliance on oil while concurrently fostering growth in emerging sectors. This transition is a crucial economic strategy designed to safeguard long-term prosperity, ensure energy security, and enhance the country's competitiveness on the world stage. Consequently, the energy sector, acting as a critical pillar of the Omani economy, is undergoing a period of rapid and unprecedented evolution across the wider Gulf region.

Navigating the Transition and Capital Requirements

Despite this clear strategic direction, the journey towards a diversified and future-ready energy ecosystem is fraught with complex challenges. Accelerating the energy transition requires more than just ambitious targets; it demands robust policy frameworks, technological innovation, and, most crucially, massive capital deployment. Transitioning from a legacy infrastructure reliant on fossil fuels to a dynamic matrix incorporating renewables, natural gas, and green hydrogen involves overcoming significant logistical and financial hurdles. The sheer scale of the required energy infrastructure upgrades is daunting. Furthermore, the global competition for green investment is fierce. To attract the necessary domestic and foreign direct investment, the region must present an attractive, stable, and forward-looking environment. Addressing these multifaceted challenges is vital, as any delay in mobilising resources could hinder the pace of GDP growth and stall the broader economic diversification agenda.

The Convergence of Finance and Energy

Addressing these formidable challenges necessitates a fundamental shift in how large-scale projects are conceptualised and funded. The solution lies in the strategic convergence of the financial services sector and the energy industry. Historically, these two spheres may have operated with a degree of separation, but the demands of the modern energy transition dictate a symbiotic relationship. Financial institutions must step beyond their traditional roles as mere lenders to become proactive partners and strategic advisors. By fostering deep collaboration, the banking sector can help unlock the massive tranches of investment required to drive innovation and support sustainable development. This collaborative model empowers energy companies to scale up operations, explore untapped markets, and build the resilient infrastructure needed for the future. It is the active participation of the private sector that will translate national economic visions into tangible realities.

Sohar International and OPAL's Strategic Symposium 

In direct response to this critical market need, Sohar International has taken a decisive step to facilitate this vital convergence. Reaffirming its commitment to enabling sustainable economic growth, the institution recently hosted a high-level joint symposium titled 'Oman's Energy Sector in a Reshaped Gulf: Driving Economic Growth, Investment, and Global Competitiveness.' Organised in strategic collaboration with the Oman Energy Association (OPAL), the event successfully convened a distinguished group of industry experts, senior executives, and key decision-makers from both the energy and financial sectors.

The symposium provided a vital platform to explore the rapid evolution of the energy sector, focusing on unlocking promising investment opportunities. Participants rigorously examined emerging avenues for capital deployment across renewables, gas, hydrogen, and wider energy infrastructure.

Speaking on the bank’s proactive approach, Abdulwahid Mohamed Al Murshidi, Chief Executive Officer, Sohar International, stated: “At Sohar International, we see our role extending beyond banking. We are committed to being an enabler of growth in strategic sectors. The energy sector is central to Oman's future, and through platforms like this symposium, we aim to drive dialogue, mobilise investment, and forge the partnerships needed to position Oman as a globally competitive energy hub.”

Eng. Mohammed Hamood Al Naabi, Chief Executive Officer, Oman Energy Association (OPAL), noted: “The partnership with Sohar International reflects our shared commitment to advancing Oman's energy sector. OPAL believes that strong collaboration between industry and finance is essential to unlock investment, drive innovation, and ensure the sector continues to support Oman's economic diversification and the goals of Vision 2040.”

Through financing projects that champion energy security and diversification, Sohar International continues to cultivate a resilient ecosystem for Oman.

Jeddah Dome prepares to officially host the highly anticipated fifth edition of the Saudi Real Estate Development and Ownership Exhibition (SEREDO).

The vibrant coastal city of Jeddah is gearing up for a major milestone in the Kingdom's booming property sector, as the spacious Jeddah Dome prepares to officially host the highly anticipated fifth edition of the Saudi Real Estate Development and Ownership Exhibition (SEREDO).

Scheduled to run from September 6th to 8th, 2026, this prominent three-day event is set to convene a highly diverse assembly of premier real estate developers, institutional investors, financial institutions, financing organisations, government entities, and seasoned industry professionals hailing from all across Saudi Arabia as well as key international markets.

Held under the esteemed and continuous sponsorship of the Ministry of Municipalities and Housing, SEREDO 2026 aims to shine a comprehensive spotlight on a wide array of cutting-edge residential, commercial, and mixed-use developments. By providing a dedicated physical platform for all relevant stakeholders to explore lucrative investment opportunities and forge strategic business partnerships, the exhibition aligns closely with the ambitious socio-economic objectives outlined in Saudi Vision 2030. Key organisers emphasise that the event will act as a powerful catalyst for strengthening collaborative frameworks between public and private sector participants, ultimately facilitating vital investment partnerships and supporting national homeownership initiatives by directly connecting developers, prospective buyers, and financing providers under one roof.

Beyond the expansive exhibition floor, which will showcase impressive property portfolios and innovative structural designs, SEREDO 2026 features a comprehensive, multi-day programme of engaging panel discussions and specialised workshops. These interactive sessions are meticulously curated to cover critical industry themes, including sustainable urban development, eco-friendly construction practices, modern property investment strategies, innovative financing solutions, and the transformative digital technologies that are rapidly shaping the future of the real estate landscape across the wider region.

Leadership figures behind the exhibition have repeatedly underscored its growing strategic importance within the regional market. Princess Deena bint Saud bin Abdulaziz, Chair of the Board of Directors of SEREDO 2026, acknowledged the vital support and official sponsorship provided by the Ministry of Municipalities and Housing. She noted that this year’s upcoming edition continues the exhibition’s proud tradition of serving as an essential platform for cross-sector collaboration while vividly reflecting the sustained economic growth and maturity of Saudi Arabia's dynamic real estate ecosystem.

Echoing these supportive sentiments, Abdul Rahman Al-Zahrani, Executive Director of SEREDO 2026, highlighted that the exhibition will present an invaluable opportunity for developers, investors, and government representatives to explore emerging growth avenues and deepen professional cooperation across the entire sector. He noted that the high-profile gathering serves as a vital meeting point designed to bridge the operational gap between regulatory bodies, financial institutions, and commercial developers seeking long-term market prosperity.

Key national entities are also slated to play pivotal roles during the upcoming three-day event. The General Authority for Real Estate is actively participating as the official legislative partner, hosting an informative pavilion designed to educate attendees on the latest real estate laws, regulatory updates, and compliance frameworks governing the Kingdom's property market. Meanwhile, the Real Estate Development Fund will contribute as the key financing sector partner, offering specialised financial guidance and lending insights to aspiring homeowners and institutional investors alike. Additionally, the National Housing Company (NHC) takes on the prominent role of the exhibition's main sponsor, reinforcing concerted national efforts to accelerate urban development and expand housing access nationwide.

As September approaches, palpable anticipation is building across the commercial and residential real estate community. With its robust lineup of global exhibitors, high-profile keynote discussions, networking sessions, and strategic commercial partnerships, the fifth edition of SEREDO is firmly positioned to cement Jeddah's status as a premier regional hub for real estate innovation, architectural excellence, and sustainable economic investment throughout the Middle East.

Schneider Electric is set to host the second edition of the Innovation Summit Middle East & Africa in Abu Dhabi in September 2026.

Schneider Electric is set to host the second edition of the Innovation Summit Middle East & Africa in Abu Dhabi in September 2026.

This gathering will convene global technology leaders, energy executives, and government officials to chart a sustainable course for the region’s rapidly evolving digital landscape.

The timing of the event is critical. Industry forecasts indicate that global electricity demand will experience a compound annual growth rate of 3.6 per cent between 2026 and 2030. Concurrently, the exponential rise in global AI workloads is projected to trigger a staggering 160 per cent surge in data centre power requirements by the end of the decade. These global trends are distinctly magnified in the Middle East and Africa, where rapid urban development, extensive desalination projects, and the rollout of ambitious national giga-projects are radically altering consumption patterns.

Walid Sheta, Zone President for the Middle East and Africa at Schneider Electric, articulated the sheer scale of this regional transformation. "With electricity consumption in the Middle East and North Africa having tripled since 2000 and on course to grow at an incremental 3-4% every year to register a whopping 50% by 2035 – driven by surging cooling, desalination, and urbanization demands, the region is at an inflection point," he stated.

Recognising that reliable power is no longer merely a utility but a fundamental pillar of economic stability, Sheta added, "Energy today is the foundation of national resilience and competitiveness," framing the core ethos of the upcoming September summit.

The selection of the United Arab Emirates capital as the host city is a deliberate nod to the nation’s proactive stance on sustainability and technological integration. "Abu Dhabi's emergence as a regional hub for energy transition, digital infrastructure, and innovation makes it an ideal fit for the Summit. The UAE's net-zero ambitions and large-scale investments in power and digital infrastructure highlight the scale of the challenge and the opportunity to embed energy intelligence into the region's next wave of growth," explained Sheta.

Throughout the event, attendees will explore how to integrate electrification, automation, and digital intelligence across industrial applications, commercial buildings, and power grids. The summit will heavily feature an immersive 3,000-square-foot Innovation Hub Experience. This space will provide tailored customer experiences, guided tours, and live demonstrations of cutting-edge technologies engineered to modernise grid infrastructure and maximise energy efficiency.

A prominent highlight of the two-day schedule is the exclusive, invitation-only CEO Forum, held in partnership with Forbes Middle East. This closed-door session will gather over one hundred C-suite executives to foster strategic partnerships and formulate actionable public-private collaborations.

Moreover, the summit will spotlight regional benchmarks and real-world success stories drawn from over eighty countries. Showcases will include groundbreaking operational improvements, such as the deployment of EcoStruxure Power & Grid for Senegal’s National Electricity Company, which successfully slashed network recovery times from three hours to a mere three minutes. Additionally, discussions will highlight sustainability milestones, such as the total elimination of SF6 greenhouse gases and comprehensive carbon footprint reductions achieved by agricultural producers in South Africa.

Schneider Electric aims to utilise these case studies to demonstrate that intelligent energy management can seamlessly align with both operational excellence and environmental stewardship.

"Innovation Summit Middle East & Africa underscores our dedication to accelerating energy technology innovation and powering energy intelligence throughout the region. This edition will emphasize our emergence as the trusted energy technology partner guiding the region's next phase of transformation," Sheta affirmed.

As cloud computing and high-performance technologies become increasingly intertwined with national success, the summit promises to deliver vital strategies for a resilient future. By bridging the gap between ambition and actionable technology, the event will empower stakeholders to navigate an increasingly AI-driven world. Summarising the broader vision of the gathering, Sheta concluded, "This Summit offers a roadmap of what's next as we continue to redefine the relationship between energy and digital capability."

Iraq has successfully secured a series of landmark energy agreements with the United States.

Iraq has successfully secured a series of landmark energy agreements with the United States.

During a highly significant diplomatic visit to Washington by Prime Minister Ali Al-Zaidi, the Iraqi government cemented deals estimated to be worth US$200bn. These comprehensive contracts are set to revitalise the country’s foundational oil and gas industries. According to Iraqi Oil Minister Bassem Mohammed Khudair, who detailed the outcomes of the talks, this massive injection of capital will serve as the cornerstone of Iraq's strategic vision. The scale of this international commitment underscores a renewed focus on expanding a sector that remains the lifeblood of the Iraqi economy. This historic bilateral alignment is expected to reshape the trajectory of the nation's economic recovery.

Expanding Production and International Co-operation

The newly minted partnership encompasses seven key agreements designed to upgrade Iraq's extraction and processing capabilities. Minister Khudair noted that these deals will substantially increase the nation's oil and gas reserves while boosting day-to-day production. At present, Iraq’s total oil production capacity has already surpassed 4.8 million barrels per day. The administration views this capacity as a robust foundation upon which the new US agreements will build.

Furthermore, Iraqi oil fields are already a hub of global enterprise, with 22 international companies currently operating within the country. The presence of these foreign entities demonstrates the vast, untapped potential still present within the region. The integration of the Washington-backed agreements will harmonise with these operations, creating a more dynamic extraction environment. By expanding capacity through these frameworks, Iraq aims to solidify its position as a global energy supplier.

Advancing Towards Domestic Self-Sufficiency

While exports remain a primary focus, the government is equally dedicated to fulfilling domestic energy requirements. Minister Khudair highlighted that Iraq is firmly on track to achieve complete self-sufficiency in natural gas by the year 2030. This ambitious target represents a critical shift for the nation, which has historically faced complexities in capturing its own gas resources.

Remarkable progress has already been recorded in other areas. Iraq has successfully achieved full self-sufficiency in the provision of gas oil, commonly known as diesel, and kerosene. Additionally, domestic facilities are generating approximately 30 million litres of gasoline daily to meet local demand. However, the minister acknowledged that the journey is not without hurdles. Despite the impressive production figures, persistent challenges remain within the country’s fuel distribution mechanisms. Addressing these logistical distribution roadblocks is essential to ensure that this newly harnessed energy reliably reaches consumers across all provinces.

Catalysing Socio-Economic Growth

Beyond the immediate metrics of barrels and litres, the US$200bn investment strategy is heavily oriented towards generating tangible benefits for the Iraqi populace. The government anticipates that the revitalisation of the energy sector will serve as a massive engine for job creation, offering new employment avenues for a growing workforce.

These contracts are also structured to deliver broader social benefits that extend into the educational sphere. Notably, the agreements include provisions for scholarship opportunities, linking industrial growth directly with human capital development. By investing in education, Iraq is laying the groundwork for a future where its own professionals can lead the management of the nation's infrastructure.

Navigating OPEC Quotas and Looking Ahead

As production capacities expand, the Iraqi government is simultaneously addressing the diplomatic complexities of global oil markets. Minister Khudair revealed that officials are engaged in serious and constructive dialogue with the Organisation of the Petroleum Exporting Countries (OPEC). The primary objective of these talks is to negotiate an increase in the country’s official oil export quota, allowing Iraq to capitalise on its enhanced capabilities.

Addressing the historical context of these negotiations, the oil minister was explicit about the nation's stance. "The government remains committed to securing the export share Iraq deserves, while taking into account the exceptional circumstances the country has endured as a result of wars and the destruction of its infrastructure," he said. Through massive international investment and assertive diplomacy, Iraq is charting a highly resilient energy future.