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Kenya Extends Oil Supply Agreement with Aramco, ADNOC, ENOC

A worker at an oilfield in Africa. (Getty)
A worker at an oilfield in Africa. (Getty)
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Kenya Extends Oil Supply Agreement with Aramco, ADNOC, ENOC

A worker at an oilfield in Africa. (Getty)
A worker at an oilfield in Africa. (Getty)

The head of the Energy and Petroleum Regulatory Authority (EPRA) said Tuesday that Kenya extended to December 2024 an oil supply deal with three Gulf-based companies.

"There was an extension up to December 2024, so this is basically arising out of negotiations that have been happening to drive down the freight and the premium (costs)," said Daniel Kiptoo, the head of EPRA.

The deal had helped lower the cost of transporting oil to Kenya and the premium it pays to suppliers, he added.

In mid-March, Saudi Aramco, Emirates National Oil Company (ENOC), and Abu Dhabi National Oil Company (ADNOC) won bids to supply petroleum products to Kenya, a move designed to curb demand for dollars and secure oil imports.

Bloomberg cited Kenya Energy Minster Davis Chirchir as saying that Aramco will supply the African country with diesel for six months, ADNOC will supply Kenya with diesel and jet fuel, and ENOC will supply it with gasoline.

The Trade Development Bank (TDB) provides consultation to Kenya regarding acquiring a credit facility to pay for the fuels.

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Madinah Sees Tourism Surge Ahead of Ramadan, Spending Tops $13.9 Billion

A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
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Madinah Sees Tourism Surge Ahead of Ramadan, Spending Tops $13.9 Billion

A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 

Saudi Arabia’s Minister of Tourism, Ahmed Al-Khateeb, has toured hospitality facilities and visitor services in Madinah as part of the “Spirit of Ramadan” inspection tour, which also included Jeddah and Makkah.

New data show visitor numbers exceeded 21 million over the past year, a 12 percent increase from 2024, while total tourism spending reached SAR 52 billion (about $13.9 billion), up 22 percent.

The visit focused on assessing the sector’s readiness for the Ramadan season, evaluating service quality, and supporting ongoing and upcoming tourism projects.

Madinah posted strong tourism performance in 2025, driven by higher visitor inflows and expanded hospitality capacity, reinforcing its position as a leading religious destination within Saudi Arabia’s tourism landscape.

Demand growth has been matched by a sharp rise in supply. Licensed hospitality facilities increased to 610, up 35 percent, while the number of licensed rooms surpassed 76,000, a 24 percent gain, strengthening the city’s ability to accommodate during peak seasons such as Ramadan and Hajj.

Travel and tourism offices also grew to more than 240, reflecting a 29 percent expansion in supporting services.

Al-Khateeb said the entry of international hospitality brands and new projects over the past five years underscores both sectoral growth and rising investor confidence in the Kingdom’s tourism ecosystem.

“The landscape today is different. The sector is growing steadily, supported by a system that empowers investors and facilitates their journey, with a promising future ahead,” he said.

To expand hotel capacity, the minister inaugurated the Radisson Hotel Madinah, a project worth more than SAR 39 million (around $10 million) and financed by the Tourism Development Fund.

The 2025 performance signals a shift from traditional seasonal growth toward more sustainable expansion built on diversified offerings, improved service quality, and a stronger contribution to the local economy.

 

 

 

 

 

 

Business

Airbus Planning Record Commercial Aircraft Deliveries in 2026

An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
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Airbus Planning Record Commercial Aircraft Deliveries in 2026

An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File

Plane maker Airbus aims to deliver a record number of commercial aircraft this year, the company said Thursday, capitalizing on "strong demand" and a jump in profit in 2025.

"2025 was a landmark year, characterized by very strong demand for our products and services across all businesses," CEO Guillaume Faury said in a press release announcing annual results.

The European manufacturer said it received 1,000 orders for commercial planes in 2025, with net orders of 889 after taking cancellations into account, and 793 delivered.

Last year, its overall profit jumped 23 percent to 5.2 billion euros ($6.1 billion).

The company said it is targeting "around 870 commercial aircraft deliveries" this year.

"As the basis for its 2026 guidance, the Company assumes no additional disruptions to global trade or the world economy, air traffic, the supply chain, its internal operations, and its ability to deliver products and services," it said in its outlook.

Both Airbus and its rival Boeing have struggled to return to pre-pandemic production levels after their entire network of suppliers was disrupted, even as airlines are eager to modernize their fleets with more fuel-efficient aircraft and expand to meet an expected increase in passenger numbers over the coming decades.

Business

Saudi Arabia's Humain Invests $3 Bn in Musk's xAI

The logo of the Saudi company Humain. Asharq Al-Awsat
The logo of the Saudi company Humain. Asharq Al-Awsat
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Saudi Arabia's Humain Invests $3 Bn in Musk's xAI

The logo of the Saudi company Humain. Asharq Al-Awsat
The logo of the Saudi company Humain. Asharq Al-Awsat

Saudi Arabia's artificial intelligence firm Humain said Wednesday it had invested $3 billion in US billionaire Elon Musk's xAI.

The investment made Humain a "significant minority shareholder,” the company said in a statement.

It added that its xAI holdings would be "converted into SpaceX shares" after the rocket company announced it was taking over the AI start-up earlier this month as Musk pushes to unify his many business interests.

CEO Tareq Amin said the latest investment “reflects Humain’s conviction in transformational AI and our ability to deploy meaningful capital behind exceptional opportunities where long-term vision, technical excellence, and execution converge, xAI’s trajectory, further strengthened by its acquisition by SpaceX, one of the largest technology mergers on record, represents the kind of high-impact platform we seek to support with significant capital.”

Musk's xAI had previously announced in November it was teaming up with Humain to build a 500-megawatt data center in Saudi Arabia.

The Saudi firm also inked a new deal with Nvidia.