Gulf NOCs build overseas footprints
The Middle East’s powerful clutch of national oil companies are turning their attentions outwards, with new acquisitions taking them into previously uncharted territory
Mideast Gulf NOCs are accelerating overseas expansions strategies, forming partnerships and buying into promising upstream and downstream assets that meet domestic mandates to sustain growth—both in hydrocarbons and cleaner energies. QatarEnergy (QE), the Gulf’s major gas exporter, is now active in North America, South America and Africa. It has acquired significant holdings in Namibia’s play-opening offshore basins as well as in Suriname—another frontier offshore upstream opportunity garnering global attention. In the UAE, Adnoc, which is also eyeing stakes in African developments, closed the acquisition of a 24.9% shareholding in Austria-headquartered integrated energy company OMV at the e
Also in this section
3 March 2026
The killing of Iran’s Supreme Leader Ayatollah Khamenei in US–Israeli strikes marks the most serious escalation in the region in decades and a bigger potential threat to the oil market than the start of the Russia-Ukraine crisis
2 March 2026
A potential blockade of the Strait of Hormuz following the escalating US-Iran conflict risks disrupting Qatari LNG exports that underpin global gas markets, exposing Asia and other markets to sharp price spikes, cargo shortages and renewed reliance on dirtier fuels
2 March 2026
The South Asian consumer’s next move could tighten the Middle East oil market overnight
2 March 2026
Canadian independent’s evolving portfolio in Trinidad and Tobago gives it access to the Atlantic LNG market and a close-up view of developments in neighbouring Venezuela
