10 Jun Energy news and analysis 10/06/26| Escalating tensions in the Middle East unsettles markets once again.
(Oilandgaspress) The US launched multiple waves of strikes on Iran in response to a military helicopter crash off the strait of Hormuz that Donald Trump said Iran had downed. The Associated Press reported that the Apache helicopter that crashed went down after colliding with an Iranian drone, but it was not clear whether the collision was intentional. Iran launched retaliatory attacks against the US, according to the countries state media, which said American bases in the region and the US fifth fleet in Bahrain were targeted with drones. Kuwait and Bahrain issued air raid alerts and reported that air defences were active in repelling attacks. Iran also claimed it had targeted a US base in Jordan with long range missiles.
Qualcomm Technologies International, Ltd., aramcoSAIL – Saudi Accelerated Innovation Lab), Saudi Arabia’s Research, Development and Innovation Authority, and HUMAIN today announced the startups selected for the 2026 edition of the Design in Saudi Arabia with AI program (DISAI 2026).
DISAI was first launched during LEAP 2025; to support deep-tech startups building AI-enabled solutions in the Kingdom. Building on the 2025 inaugural cohort, the 2026 program attracted more than 124 applications from across Saudi Arabia, reflecting growing momentum in AI, the Internet of Things (IoT) and advanced wireless innovations across the national startup ecosystem.
DISAI 2026 is designed to support high-potential startups from concept through commercialization, with hands-on guidance across product design, development and intellectual property (IP) strategy. This year, the program expands its technical offerings, enabling startups to develop and prototype on an extended set of platforms — including Arduino® UNO™ Q and the recently announced Arduino VENTUNO™ JQ as well as Qualcomm AI accelerators such as AIC200 and industrial AI gateway platforms. . . Related News
Alcazar Energy Partners has signed acquisition terms with the New and Renewable Energy Authority (“NREA”) in respect of the 580 MW Gabel el Zeit Wind Project located in Egypt’s Red Sea Governorate.
Gabal El Zeit comprises three operational wind farms with a total installed capacity of 580MW, equipped with Siemens-Gamesa turbines and averaging 8 to 10 years of operation.
Through this transaction, AEP will assume full operational responsibility, extend the asset’s useful life, and sell electricity to the Egyptian Electricity Transmission Company (“EETC”) under a 25-year power purchase agreement.
Positioned in the Gulf of Suez, within one of the world’s strongest wind corridors, Gabal El Zeit plays a vital role in advancing the country’s renewable energy and energy diversification objectives. The project delivers efficient, sustainable power generation, contributing meaningfully to Egypt’s goal of reaching 45% renewable electricity generation by 2028.. . Related News
Abu Dhabi National Oil Company is exploring opportunities in Canada’s upstream and liquefied natural gas sectors through its international arm XRG, a senior company executive said on Tuesday at the Global Energy Show in Calgary.
Musabbeh Al Kaabi, ADNOC’s CEO of upstream, did not provide details on what specific investments the company may be eyeing in Canada, but said he is encouraged by Canada’s renewed focus on energy development.
The United Arab Emirates has been looking to expand its energy investments abroad, especially through its recently launched firm XRG, the foreign investment arm of state-owned ADNOC.
At the same time, Canada has been seeking to diversify exports beyond its main market of the United States in the face of tariff threats from President Donald Trump. Late last year, Prime Minister Mark Carney made an official visit to the UAE. . . Related News
Gulf Bank has announced the successful completion of its first Greenhouse Gas (GHG) Emissions Inventory, formally designating 2025 as its official emissions baseline year. This milestone forms a central component of the Bank’s Sustainability Strategy 2030 and reflects its enduring commitment to responsible banking, environmental stewardship, and alignment with the United Nations Sustainable Development Goal 13: Climate Action. .Related News
Global South Utilities (GSU), announced the project ommencement of a 12 MWp solar photovoltaic (PV) power plant integrated with a 70 MWh Battery Energy Storage System (BESS) in Berbera, as part of Phase II of the Green Berbera Initiative. The project marks the next phase of Berbera’s transition from diesel dependence toward a more resilient renewable-backed power system, following the commissioning of GSU’s 5 MWp solar plant in the city in February 2026.
The first phase introduced 11.2 km of 33 kV transmission infrastructure and marked the beginning of a broader renewable transition strategy aimed at strengthening energy security and reducing reliance on imported diesel generation in the strategic port city of Berbera.
Phase II significantly expands renewable generation capacity while introducing utility-scale battery storage designed to improve grid reliability and support electricity supply during evening demand periods and lower solar generation hours… Related News
Saudi Arabia’s Ministry of Industry and Mineral Resources announced on Tuesday the qualification of 24 local and international companies and consortia to participate in the Kingdom’s 10th exploration licensing round following the completion of technical and financial evaluations. .Related News
| Oil and Gas Blends | Units | Oil Price | Notes |
| Crude Oil (WTI) Oilprice | US$/bbl | $87.94 | Down |
| Crude Oil (Brent) | US$/bbl | $91.64 | Down |
| Bonny Light 29/05/26 CBN | US$/bbl | $98.44 | — |
| Dubai | US$/bbl | $91.17 | — |
| Natural Gas | US$/MMBtu | $3.15 | — |
| Murban | US$/bbl | $87.40 | Down |
| OPEC basket 08/06/26 OPEC | US$/bbl | $98.92 | Down |
| At press time June 10, 2026 |
From June 9 to 11, Premier Danielle Smith, Minister of Energy and Minerals Brian Jean along with government officials, will welcome more than a thousand national delegates from over 100 countries to Calgary. They will be championing Alberta’s energy and minerals opportunities alongside innovative industry players who are delivering made-in-Alberta products, technologies and solutions to global markets.
Against a backdrop of ongoing geopolitical uncertainty and supply disruptions, Alberta’s role in strengthening energy security for Canada and its allies has never been more important. At the Global Energy Show, Alberta will reinforce its position as a reliable, secure supplier and long-term partner while advancing new opportunities for investment, exports and market access..
Alberta has some of the largest oil, gas and lithium reserves in the world and a growing number of critical mineral opportunities. This conference brings together the top energy officials from governments and industry and will put Alberta front and centre. Related News
Ukrainian missiles, drones reportedly hit oil refinery, manufacturing site in long-range strikes on Russia. An oil refinery in the Russian city of Samara was struck by Ukrainian drones, and a manufacturing facility in Cheboksary was targeted by missiles overnight on June 10, social media channels reported. Related News
During the period from 1st to 5 June 2026, Eni acquired on the Euronext Milan no. 4,311,291 shares (equal to 0.14% of the share capital), at a weighted average price per share equal to 23.1949 euro, for a total consideration of 99,999,945.45 euro, within the second tranche of the treasury shares program approved by the Shareholders’ Meeting on 6 May 2026, for the purpose of paying to the Shareholders an additional remuneration compared to the distribution of dividends, resolved by the same Shareholders’ Meeting. . Related News
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