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Saudi Arabia’s MAWANI Expands by Announcing Direct Jeddah-Djibouti Shipping Service

The Saudi Ports Authority (MAWANI) has announced a new direct shipping service connecting Saudi Arabia to Djibouti (Asharq Al-Awsat)
The Saudi Ports Authority (MAWANI) has announced a new direct shipping service connecting Saudi Arabia to Djibouti (Asharq Al-Awsat)
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Saudi Arabia’s MAWANI Expands by Announcing Direct Jeddah-Djibouti Shipping Service

The Saudi Ports Authority (MAWANI) has announced a new direct shipping service connecting Saudi Arabia to Djibouti (Asharq Al-Awsat)
The Saudi Ports Authority (MAWANI) has announced a new direct shipping service connecting Saudi Arabia to Djibouti (Asharq Al-Awsat)

The Saudi Ports Authority, MAWANI, has announced a new direct shipping service connecting Saudi Arabia to Djibouti in an important development that serves to leverage the significant potential of the Kingdom’s ports, bolster its petrochemicals exports and transshipment, and further expand its maritime network around the globe.

Connecting Jeddah Islamic port to Djibouti, with over 100 containers shipped weekly, the new service is a valuable new link between Saudi Arabia and the East African continent, promoting and facilitating intra-regional trade and enhancing opportunities for investment in the Kingdom, as well as supporting leading container transport company Transmar.

The Jeddah-Djibouti service marks an important milestone in the development of Jeddah Islamic Port as a world-leading hub, further solidifying its status as a rising force in the maritime industry and one of three Saudi ports included in the 2021 edition of Lloyd’s List of Top 100 Ports.

The Kingdom ranks fifth in the world in container ship handling, according to the UNCTAD annual index for 2020. As a result of consistent expansion and development, Saudi Arabia is home to the largest port network in the Middle East, receiving 20-25 thousand ships annually.

Ongoing initiatives have seen the Authority partner with several major international shipping lines as it works to enable, expand and transform Saudi ports, fulfilling national strategic objectives for the development of transport and logistics services under Saudi Vision 2030, and securing the Kingdom’s position as a global hub.

Earlier this week, MAWANI, in coordination with the Saudi Global Ports Co., announced launching a new direct service from China to King Abdulaziz Port Dammam.

The new service is offered by a consortium of vessels deployed by Pacific International Lines (PIL), Regional Container Lines (RCL), and CULines (CUL), the authority said in a statement.

The move aims to strengthen MAWANI’s efforts to develop Saudi Arabia as a global leader in logistics and transportation, as well as boost the linking between Saudi ports to the other ports in the world.

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Business

TotalEnergies Posts 17% Drop in Net Profit to $13.1 Bn

FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen on a building in Rueil-Malmaison, near Paris, France, April 14, 2025. REUTERS/Stephanie Lecocq/File Photo
FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen on a building in Rueil-Malmaison, near Paris, France, April 14, 2025. REUTERS/Stephanie Lecocq/File Photo
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TotalEnergies Posts 17% Drop in Net Profit to $13.1 Bn

FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen on a building in Rueil-Malmaison, near Paris, France, April 14, 2025. REUTERS/Stephanie Lecocq/File Photo
FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen on a building in Rueil-Malmaison, near Paris, France, April 14, 2025. REUTERS/Stephanie Lecocq/File Photo

French energy giant TotalEnergies said Wednesday that its net profit fell 17 percent last year, reflecting declines in oil prices even as it increased production.

Profit was down to $13.1 billion, but the company will raise its final 2025 dividend payout by 5.6 percent, to 3.40 euros per share.

"With cash flow stable at $7.2 billion, TotalEnergies once again demonstrates its ability to offset lower hydrocarbon prices thanks to accretive growth in its upstream production of 3.9 percent in 2025, exceeding the guidance of above 3 percent," chief executive Patrick Pouyanne said in a statement.

According to AFP, the company will also continue to buy back its own shares to support its stock price, spending $3 billion to $6 billion this year assuming oil prices stay in a range of $60 to $70 a barrel.

Like other oil majors, TotalEnergies is grappling with low oil and gas prices as a result of higher output by OPEC+ nations since last year.

They are looking to regain market share amid strong competition from producers outside the group, such as the United States, Canada and Guyana.

Pouyanne said TotalEnergies invested $17.1 billion last year, of which 37 percent went to new oil and gas projects.

He also said $3.5 billion was invested in "low-carbon energies", mainly electricity.

Last October, TotalEnergies was convicted by a French court of "misleading commercial practices" by overstating its climate pledges and ordered it to remove some claims.

Activists called it the first such ruling worldwide against a major oil company for climate misinformation.

Business

EU Makes 150-Million-Dollar Grant to Egypt’s Energy Sector

The signing of the agreements took place during the “Egypt Sustainable Energy Outlook 2040” conference co-hosted by the EU and the Egyptian government in Cairo. Photo: Egyptian government
The signing of the agreements took place during the “Egypt Sustainable Energy Outlook 2040” conference co-hosted by the EU and the Egyptian government in Cairo. Photo: Egyptian government
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EU Makes 150-Million-Dollar Grant to Egypt’s Energy Sector

The signing of the agreements took place during the “Egypt Sustainable Energy Outlook 2040” conference co-hosted by the EU and the Egyptian government in Cairo. Photo: Egyptian government
The signing of the agreements took place during the “Egypt Sustainable Energy Outlook 2040” conference co-hosted by the EU and the Egyptian government in Cairo. Photo: Egyptian government

Egypt and the European Union (EU) have signed a grant agreement worth €90 million ($107.2 million) that will be managed by the European Investment Bank (EIB) to enhance investments in the electricity grid in Egypt and develop renewable energy capabilities.

A separate €35 million ($41.7 million) grant agreement was signed on Tuesday for Norway’s Scatec to support its green ammonia project in Ain Sokhna.

The signing of the agreements took place during the “Egypt Sustainable Energy Outlook 2040” conference co-hosted by the EU and the Egyptian government in Cairo.

Egyptian Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat said the transition toward sustainable, secure, and efficient energy systems represents one of the main drivers for achieving comprehensive development in Egypt.

Al-Mashat hailed the partnership between Egypt and the EU, as well as their shared commitment to supporting the energy transition, especially in light of the accelerating global changes that make it necessary to strike a balance between economic growth, energy security, and emissions reduction.

She said the Egyptian state has adopted an ambitious vision for the energy sector through 2040, based on expanding renewable energy sources, enhancing energy efficiency, and maximizing the use of diverse resources. This would strengthen Egypt’s position as a regional energy hub in the Eastern Mediterranean and support the achievement of the Sustainable Development Goals.

She also said the ministry plays a central role in coordinating international partnerships and directing investments toward national priorities, especially energy transition, in close cooperation with European institutions such as EIB and European Bank for Reconstruction and Development (EBRD).

She added that the Nexus of Water, Food, and Energy (NWFE) platform serves as a leading national model linking water, food, and energy sectors, having mobilized about $5 billion over three years to deliver 4.2 GW of private-sector renewable energy projects and strengthen Egypt’s role in climate finance and green development.

In a related development, Energean International CEO Nicolas Katcharov told Reuters on Tuesday that Egypt has directed international oil companies to double production by 2030, saying existing contracts must be revised to spur new investment.

Katcharov said the low gas prices that supported earlier development phases had "expired,” making it necessary to ‌update terms to ‌encourage companies to ‌deploy ⁠capital and ‌boost production at brownfield sites.

He also said gas flows from Israel to Egypt had risen, with the pipeline ⁠now operating at full capacity.

Business

Saudi Industrial Production Ends 2025 with Strong 8.9% Growth

Workers are seen at a Saudi Aramco facility. (Aramco)
Workers are seen at a Saudi Aramco facility. (Aramco)
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Saudi Industrial Production Ends 2025 with Strong 8.9% Growth

Workers are seen at a Saudi Aramco facility. (Aramco)
Workers are seen at a Saudi Aramco facility. (Aramco)

Saudi Arabia’s industrial sector posted an exceptional performance at the end of 2025, with the Industrial Production Index recording annual growth of 8.9 percent in December compared with the same month a year earlier, according to data released by the General Authority for Statistics (GASTAT).

The increase reflects a broad-based recovery in key economic activities, led by mining and quarrying as well as manufacturing, reinforcing the sector’s role as a major pillar of the national economy.

Oil production

Mining and quarrying was the main driver of the overall index, posting a strong annual increase of 13.2 percent by December. The surge was largely attributed to higher crude oil output, which rose to 10.1 million barrels per day, compared with 8.9 million barrels per day in the same period last year.

On a monthly basis, the index remained relatively stable, edging up by just 0.3 percent from November.

Manufacturing

The manufacturing sector also showed resilience, recording annual growth of 3.2 percent, supported by strong performance in chemical and food-related activities.

The manufacture of chemicals and chemical products emerged as a key growth engine, rising by 13.4 percent, followed by food manufacturing, which grew by 7.3 percent year on year.

Month on month, the manufacturing index maintained positive momentum with a 0.3 percent increase. Food manufacturing alone jumped by 9.6 percent, while chemical products rose by 2.8 percent compared with November 2025.

Utilities and public services

In utilities, water supply, sewerage, waste management, and remediation activities posted robust annual growth of 9.4 percent.

In contrast, electricity, gas, steam, and air-conditioning supply declined by 2.5 percent compared with December 2024.

On a monthly basis, both sectors contracted, with water-related activities falling by 7.2 percent and electricity and gas by 13.1 percent compared with November 2025, suggesting the impact of seasonal factors or scheduled maintenance.

Oil and non-oil balance

Overall, the data point to a balanced distribution of growth across Saudi Arabia’s economic pillars. Oil-related activities recorded annual growth of 10.1 percent, while non-oil activities expanded by a steady 5.8 percent.

In the short term, non-oil activities outperformed on a monthly basis, rising by 0.4 percent, while oil activities slipped slightly by 0.3 percent, underscoring the Kingdom’s ongoing economic diversification strategy.