The Latest Breaking News from Red Sea

Egypt has signed a memorandum of understanding for a $5 billion project with Norway’s Scatec (SCATC.OL) to build its first green ammonia plant in the Suez Canal Economic Zone, the cabinet said on Thursday. The green ammonia plant near the Red Sea port and industrial zone of Ain Sokhna would…

Cypriot Defense Minister Charalambos Petrides revealed his country’s intention to conclude imminent bilateral agreements with Saudi Arabia on defense, military and security cooperation. He stressed the need to enhance the maritime security of waterways in the eastern Mediterranean, the Gulf of Aden, the Red Sea, the Arabian Gulf and the…

Sudan's deputy head of state said on Wednesday his country had no problem with Russia or any other country opening a naval base on its Red Sea coast, provided it posed no threat to national security.

An environmental organization has called on the United Nations and the international community to act swiftly to prevent an environmental catastrophe as a result of the possible explosion of the floating storage and offloading unit (FSO) SAFER off the coast of Yemen. Without a swift resolution, an explosion or leak…

A consortium led by ACWA Power has reached financial close for the $1.302 billion Red Sea multi-utilities project in Saudi Arabia. ACWA Power, in consortium with China’s SPIC Huanghe Hydropower Development Company and Saudi Tabreed Cooling Company, reached financial close for the senior debt facilities for the project.

The United States and Egypt on Monday launched a joint working group to prepare for the next climate change summit in November, the American envoy for climate issues said. Special Presidential Envoy for Climate John Kerry said the group is focused on the United Nations' COP27 conference in Egypt's Red…

The Saudi-led Arab coalition said on Friday it had destroyed a small boat launched by the Iran-backed Houthi militias in the south of the Red Sea that was loaded with explosives, Saudi state television reported on Friday. The coalition added that the boat had departed Yemen's main Red Sea port…

The Saudi-led coalition fighting Iran-aligned Houthi forces in Yemen said it had destroyed a small Houthi boat in the south of the Red Sea that was loaded with explosives, Saudi state television reported on Friday.

There is no "immediate solution" to high oil prices, Bruno Jean-Richard Itoua, president of the Organization of the Petroleum Exporting Countries (OPEC), said on Wednesday. The oil-producing countries' capacity to increase crude supply is curtailed by a lack of investment in the industry, said Itoua, who is also Congo’s minister…