CEO: Exxon Evacuated Non-essential Middle East Staff

An Exxon gas station sign in Dallas, Friday, March 6, 2026. (AP Photo/Tony Gutierrez)
An Exxon gas station sign in Dallas, Friday, March 6, 2026. (AP Photo/Tony Gutierrez)
TT

CEO: Exxon Evacuated Non-essential Middle East Staff

An Exxon gas station sign in Dallas, Friday, March 6, 2026. (AP Photo/Tony Gutierrez)
An Exxon gas station sign in Dallas, Friday, March 6, 2026. (AP Photo/Tony Gutierrez)

Exxon Mobil has evacuated non-essential employees from its operations in the Middle East, CEO Darren Woods said in an interview on Tuesday, as the US-Israel war on Iran continues.

Some operations have been scaled back to manage oil inventory levels as traffic through the Strait of Hormuz has been challenged, he said. ⁠Exxon is a ⁠minority partner in oil and gas projects in the UAE, Qatar and Saudi Arabia.

"Our first and highest priority is making sure our people remain safe, and we evacuated folks who weren't critical or essential to the operations that we were providing support for," Reuters quoted Woods as saying.

Traffic ⁠through the Strait of Hormuz, an important waterway between Iran and Oman that sees one-fifth of the world's oil supply pass through it, has effectively halted after Iran threatened to attack tankers that attempt to pass.

US President Donald Trump on Monday threatened to escalate the war with Iran if it blocked oil shipments from the Middle East, even as he predicted a quick end to the conflict.

With exports strained, oil producers have ⁠cut output ⁠at some oilfields as storage capacity runs out.

"The ability to manage ... inventory becomes very challenged, and many of the operations are pulling back simply to manage inventory levels as the logistics in the supply chain and the flow through the Strait get worked (through) with time," Woods said.

About 20% of Exxon's oil and gas production is in the Middle East, according to analysts from Jefferies. Nearly 60% of the US oil major's liquefied natural gas business is concentrated in the region, according to TD Cowen.



Riyadh Ranked Among Top 100 Global Innovation Clusters

A view of Riyadh, Saudi Arabia. (SPA)
A view of Riyadh, Saudi Arabia. (SPA)
TT

Riyadh Ranked Among Top 100 Global Innovation Clusters

A view of Riyadh, Saudi Arabia. (SPA)
A view of Riyadh, Saudi Arabia. (SPA)

The Global Innovation Index has ranked Riyadh among the top 100 innovation clusters worldwide for 2026, making it the only Gulf city to attain this classification.

Riyadh placed 92nd globally, with key metrics including 419 venture capital deals in innovation and 162 international patent applications filed.

The report highlighted the main entities contributing to the capital's position in research and innovation. In research, King Saud University, Princess Nourah bint Abdulrahman University, and Prince Sultan University led the efforts, while SABIC and Aramco spearheaded innovation contributions.

The ranking reflects the Kingdom's integrated research and innovation ecosystem, supporting researchers and innovators in line with Saudi Vision 2030.


Türkiye to Start Oil-Targeted Drilling in Western Black Sea Soon, Minister Says

Türkiye's Energy Minister Alparslan Bayraktar speaks as he meets with reporters at Antalya Diplomacy Forum in Antalya, Türkiye, April 18, 2026. (Reuters)
Türkiye's Energy Minister Alparslan Bayraktar speaks as he meets with reporters at Antalya Diplomacy Forum in Antalya, Türkiye, April 18, 2026. (Reuters)
TT

Türkiye to Start Oil-Targeted Drilling in Western Black Sea Soon, Minister Says

Türkiye's Energy Minister Alparslan Bayraktar speaks as he meets with reporters at Antalya Diplomacy Forum in Antalya, Türkiye, April 18, 2026. (Reuters)
Türkiye's Energy Minister Alparslan Bayraktar speaks as he meets with reporters at Antalya Diplomacy Forum in Antalya, Türkiye, April 18, 2026. (Reuters)

Türkiye will soon begin drilling a challenging oil-targeted well in the western Black Sea, Energy Minister Alparslan Bayraktar said ‌on Wednesday.

"We ‌will soon ‌begin ⁠drilling an oil-targeted ⁠well in the western Black Sea. It will be a difficult ⁠drilling operation and will ‌take ‌some time," ‌Bayraktar told broadcaster ‌CNBC-e.

Türkiye has previously said it plans six exploration ‌wells across the western, central and eastern ⁠Black ⁠Sea in 2026 as it seeks new oil and natural gas discoveries.


Epson Makes Riyadh Its Regional Headquarters for Middle East and North Africa

Husam Al Zughayyar, Regional Head of Sales at Epson Middle East (Asharq Al-Awsat) 
Husam Al Zughayyar, Regional Head of Sales at Epson Middle East (Asharq Al-Awsat) 
TT

Epson Makes Riyadh Its Regional Headquarters for Middle East and North Africa

Husam Al Zughayyar, Regional Head of Sales at Epson Middle East (Asharq Al-Awsat) 
Husam Al Zughayyar, Regional Head of Sales at Epson Middle East (Asharq Al-Awsat) 

Japanese technology company Epson is strengthening its presence in Saudi Arabia and across the Middle East and North Africa with the opening of its regional headquarters in Riyadh, reflecting the Kingdom’s growing importance as a regional business and technology hub.

The headquarters is part of Epson’s strategy to expand its business in Saudi Arabia, where it has operated for more than 15 years, focusing on sectors including education, healthcare and entertainment and offering technology solutions tailored more closely to local market needs.

It will also strengthen links between Epson’s regional operations and its research and development centers in Japan, supporting the development of new solutions in innovation, sustainability and digital transformation.

Husam Al Zughayyar, Regional Head of Sales at Epson Middle East, told Asharq Al-Awsat that selecting Riyadh as the company’s MENA headquarters was part of its Saudi expansion strategy, describing the Kingdom as a strategic market for Epson.

“Establishing the regional headquarters for the Middle East and North Africa in Riyadh reflects the company’s long-term commitment to the Kingdom and its confidence in the potential of its market,” Al Zughayyar said. “Epson has operated in Saudi Arabia for more than 15 years, and the new headquarters represents an important step in expanding this presence and strengthening our operations in the Kingdom and the region.”

He noted that Epson was committed to improving service levels, strengthening ties with its local distribution network, and expanding its presence in the education sector to better serve customers in the Kingdom.

The regional headquarters will serve as a direct link with Epson’s research and data centers in Japan, allowing local insights and requirements to help shape next-generation technologies. The company plans to expand in strategically important sectors such as education, healthcare and entertainment, with solutions tailored to Saudi market needs.

Al Zughayyar highlighted Epson’s long-standing cooperation with Saudi Arabia’s education sector, including its partnership with Tatweer Educational Technologies Company (TETCO), a strategic technology arm of the Ministry of Education.

“We will provide interactive display solutions for schools and universities in the Kingdom, supporting the development of smart classrooms and interactive learning,” he stated, adding that the cooperation aligns with Saudi Vision 2030 objectives for education, digital transformation and technology investment.

Al Zughayyar expressed strong optimism about the Saudi market, citing its size and the rapid economic and technological transformation underway under Vision 2030, alongside growing adoption of digital technologies.

These developments are creating opportunities for technology companies in education, healthcare, financial services, tourism and hospitality, retail and government, he underlined.

Continued investment in digital infrastructure and smart cities, together with improvements in the business environment, is strengthening Saudi Arabia’s position as a regional hub for technology and innovation and its ability to attract international investment.

Epson sees substantial opportunities to offer innovative and sustainable solutions in printing, scanning, visual communications, manufacturing and lifestyle products tailored to evolving customer needs.

The company is also supporting digital transformation and local talent development. Epson launched a graduate program in 2022 to provide young professionals with practical experience and develop their skills, with three graduates subsequently joining its workforce.

Between 2022 and 2024, Epson increased its investment in facilities across the region by 28.6 percent and investment in human resources by 45 percent.

The company plans to expand its partner and channel network in Saudi Arabia, deepen relationships with local customers and partners and establish more direct links with its research and data teams in Japan.