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Mubadala Energy acquires 15% stake in Egypt’s Nargis block

Following the transaction, Eni retains a 30 per cent contractor interest in the block through its subsidiary IEOC

Gulf Business
Gulf Business

20 February, 2026

Mubadala Energy acquires 15% stake in Egypt’s Nargis block
Mansoor Mohammed Al Hamed, managing director and CEO of Mubadala Energy/Image: Supplied

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Mubadala Energy acquired a 15% stake in Egypt's Nargis Offshore Area concession from Eni, expanding its East Mediterranean presence. This includes the Nargis-1 discovery and complements Mubadala's existing 20% stake in the adjacent Nour concession. Eni, Chevron, and Tharwa Petroleum also hold stakes, with Chevron as operator. This acquisition underscores Mubadala's commitment to Egypt's high-impact growth opportunities.

Mubadala Energy has completed the acquisition of a 15 per cent participating interest in Egypt’s Nargis Offshore Area concession from Eni, further expanding its footprint in the East Mediterranean.

The Nargis concession is an offshore exploration block located approximately 50km offshore in the East Nile Delta Basin. It includes the Nargis-1 discovery, announced in early 2023, and sits adjacent to the Eni-operated Nour concession, in which Mubadala Energy has held a 20 per cent stake since 2018.

Following the transaction, Eni retains a 30 per cent contractor interest in the block through its subsidiary IEOC. The concession is operated by Chevron, which holds a 45 per cent contractor interest, while Tharwa Petroleum Company owns the remaining 10 per cent. The contractor group holds a 50 per cent stake in partnership with the Egyptian Natural Gas Holding Company (EGAS), which owns the remaining 50 per cent.

Mansoor Mohammed Al Hamed, managing director and CEO of Mubadala Energy, said: “This acquisition of a 15 percent interest in the Nargis Concession further reinforces our long-term commitment to Egypt, expanding our portfolio with a high-impact growth opportunity alongside world-class partners in the strategically important East Med region.”

Beyond Nargis and Nour, Mubadala Energy also holds a 10 per cent stake in the Shorouk concession, home to the producing Zohr gas field in the Mediterranean Sea offshore Egypt, which is operated by Eni.

Gary Brecka on how the UAE could be the world’s first Blue Zone by design

The UAE has the potential to elevate building cities of the future to include the world’s most future-ready residents, Brecka says

Gary Brecka
Gary Brecka

19 February, 2026

Gary Brecka on how the UAE could be the world’s first Blue Zone by design
Image: Supplied

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The UAE can become the first "Blue Zone by design" by proactively integrating longevity principles into its infrastructure and policies. Moving beyond disease management, the focus shifts to optimizing human biology through environmental design, lifestyle changes (like red light, sunlight exposure, and diet), and community connection. The goal is to maximize health span and create a population defined by vitality,...

The concept of a Blue Zone has traditionally been viewed as a geographical accident, with pockets of the world where culture, diet, and lifestyle factors converge to create the ideal conditions for humans to maximise their biological potential and health span (the number of years you live without disease, fatigue, or cognitive decline).

However, in the UAE, the opportunity exists to move beyond the discovery and investigation of Blue Zones into the creation and intent of one. As a global destination renowned for innovation and ambition, the UAE is well placed to engineer the world’s first Blue Zone by design. We are currently living in an era where science and lifestyle can be intentionally synergised to slow the pace of ageing and reach peak performance, enabling humans to live to 150 years old with full function realistically.

For decades, the metric of success in healthcare has been the management of disease. Still, the future of longevity lies in the aggressive optimisation of human biology long before any decline begins. The UAE can successfully blueprint this future by treating the environment itself as a medical intervention, moving into the realm of precision bio-optimisation, using a combination of scientifically proven habits and lifestyle changes.

True success and wealth are not about how much money is in your bank account or how many assets you have accumulated, but rather how much vitality is in your body. There exists a contradiction in our society where individuals reach the peak of their professional and financial lives only to find themselves physically lacking, shadowed by fatigue, chronic stress, and cognitive fog. If one lacks the metabolic energy, mental acuity, or physical resilience to enjoy one’s achievements, the value of that success is minimised. This is called the ‘disease of success’.

How the UAE can achieve ‘Blue Zone’ status

To achieve Blue Zone status, the UAE should integrate biological protocols directly into its urban infrastructure. Longevity by design ensures that health becomes the default setting, rather than an afterthought. When an environment is designed to optimise health and wellbeing, the surrounding area does the heavy lifting. By introducing new measures across federal workplaces, the UAE government can encourage the private sector to follow suit. For example, measures like encouraging the replacement of artificial blue light with red-spectrum lighting.

The benefits of red light therapy are numerous – red light helps to recharge the body through interacting directly with our mitochondria, boosting cellular energy. By avoiding blue light in the evenings, we can protect melatonin, ensuring the body transitions into a deep repair mode during sleep and reducing inflammation and physical fogginess. This is just one example of a step that the UAE can take to encourage citizens and residents to turn their immediate environment into a passive engine for cellular repair.

As part of the Dubai Fitness Challenge 30×30, residents can be encouraged to adopt daily protocols, including morning sunlight exposure to regulate circadian rhythms, structured breathwork, maximising the supply of oxygen in our bodies that fuels our cells, grounding and walking barefoot to discharge oxidative stress in the earth and cold water immersion to reduce inflammation and improve circulation.

By making the healthy choice, the easiest and most affordable option, the UAE can foster a culture where high-level health is a universal standard.

A focus on nutrition will help to treat food as an important tool for longevity – encouraging restaurants to create special dishes and menus, and introducing R&D grants for longevity-focused nutrition will ultimately help shine a spotlight and educate residents on the importance of diet when it comes to health span.

Furthermore, the UAE can redefine the social pillar of longevity by digitising community connection, aligning with the Dubai Fitness Challenge and the National Framework for Healthy Ageing. Measures such as encouraging the use of wearable tech to track recovery and health metrics, and supporting citizens in visiting longevity clinics, will help create precise, individualised protocols for residents to transform and optimise their health.

Ultimately, the UAE has the potential to elevate building cities of the future to include the world’s most future-ready residents: a population defined by the highest standard of human longevity. By shifting the focus from managing disease to mastering biological potential, the Emirates can prove that a Blue Zone is not just a geographical accident, but a deliberate product of design. By aligning government policy with the principles of biohacking, the nation creates a legacy where success is measured by the health span of its people.

The blueprint is clear: by engineering an environment that serves human biology, the UAE will establish itself as the global capital of the ‘Longevity Economy’, demonstrating that we aren’t meant to just live longer, but to live as “The Ultimate Human”.

Gary Brecka is a human biologist and the founder of The Ultimate Human.

Ramadan 2026 in UAE: What will the weather be like this month?

Long-term forecasts suggest rainfall totals will likely be around or below the seasonal average of approximately 8mm for the month

Gulf Business
Gulf Business

19 February, 2026

Ramadan 2026 in UAE: What will the weather be like this month?
Image credit: Getty Images

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During Ramadan (late February-mid March), the UAE expects moderate winter weather. Daytime temperatures will gradually increase, reaching up to 40°C inland. Nights will be moderate, cooling significantly inland. Humidity will rise overnight, potentially causing fog. Rainfall is predicted near or below average, influenced by pressure systems. Winds may strengthen, causing dust. Fasting hours will increase from approximately 12:46 to 13:25...

As the Holy Month of Ramadan begins in the latter half of February and continues through mid-March, residents across the UAE can expect generally moderate winter conditions, according to the National Centre of Meteorology (NCM).

In its latest forecast, the NCM said daytime temperatures will remain moderate during the first half of the fasting month, with a gradual increase expected toward the latter half. Nights are forecast to be moderate to pleasant overall, turning relatively cool during late-night and early-morning hours, particularly in inland and mountainous areas, according to a WAM report.

Read more-Humidity, rising heat: Are these the first signs of summer in the UAE?

Climatological data for this period indicates that average maximum temperatures typically range between 26°C and 32°C. However, some inland regions could see temperatures climb as high as 40°C around midday.

Meanwhile, average minimum temperatures are expected to range between 18°C and 21°C. In mountainous and inland locations, early morning temperatures could fall to near or below 0°C.

Rainfall and pressure systems

Meteorologists noted that this time of year is generally influenced by the extension of the Siberian High pressure system. While it often brings stable conditions, occasional weakening may allow low-pressure systems to move in from the west or east.

“When these systems are accompanied by an upper-level trough, they may enhance cloud formation and increase the probability of rainfall across the country,” the report stated.

Long-term forecasts suggest rainfall totals will likely be around or below the seasonal average of approximately 8mm for the month. For comparison, the highest 24-hour rainfall recorded during this period reached 287.6mm in Al Shuwaib on March 9, 2016.

Fog, humidity and winds

Humidity levels are expected to rise during nighttime and early morning hours, creating favorable conditions for fog and mist in certain areas. Average maximum relative humidity during the night and early morning is forecast to range between 70 per cent and 85 per cent, while daytime minimum levels are expected to hover between 20 per cent and 35 per cent.

Winds are typically southeasterly during the night and morning, shifting to northwesterly by afternoon and evening due to land and sea breeze circulation. The NCM warned that winds may occasionally strengthen with deepening pressure systems, potentially leading to blowing dust and sand in exposed areas.

Average wind speeds are projected at around 13 km/hr. Historically, the strongest wind gust recorded during this period reached 141 km/hr at Jebel Mebreh on February 27, 2010.

Fasting hours will begin at approximately 12 hours and 46 minutes at the start of Ramadan, gradually increasing to around 13 hours and 25 minutes by the end of the month in Abu Dhabi and nearby areas, with minor variations depending on location.

Former Prince Andrew arrested in UK misconduct probe

The arrest has reignited intense public and political scrutiny in the UK, where the former royal has been a controversial figure since the Epstein scandal first brought widespread criticism

Rajiv Pillai
Rajiv Pillai

19 February, 2026

Former Prince Andrew arrested in UK misconduct probe
Image: Getty Images

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Andrew Mountbatten-Windsor was arrested on February 19, 2026, for suspected misconduct in public office. The arrest, linked to his past activities and association with Jeffrey Epstein, stems from allegations he improperly shared confidential government information as a UK trade envoy. The investigation follows the release of documents raising questions about his conduct. He remains in custody.

British police have arrested Andrew Mountbatten-Windsor, the younger brother of King Charles III and former prince, on suspicion of misconduct in public office, authorities and multiple news outlets reported on Thursday.

Thames Valley Police confirmed that officers detained the 66-year-old at his residence on the Sandringham estate in eastern England, where plain-clothes detectives and unmarked vehicles were seen early on February 19, 2026. The arrest comes amid an ongoing investigation into allegations linked to Mountbatten-Windsor’s past activities and his association with the late convicted sex offender Jeffrey Epstein.

Police say the misconduct inquiry focuses on whether the former royal improperly shared confidential government information during his tenure as a UK trade envoy. The probe was launched after recently released documents and files, including material from the US government’s Epstein files, raised questions about his conduct and associations.

Mountbatten-Windsor, who has long denied any wrongdoing in relation to Epstein and expressed regret over their friendship, was taken into custody and remains under investigation. The specific allegations have not been formally charged, and police have not commented further beyond confirming the arrest.

The arrest has reignited intense public and political scrutiny in the UK, where the former royal has been a controversial figure since the Epstein scandal first brought widespread criticism. Security forces are understood to be conducting searches at properties in Berkshire and Norfolk as part of their work.

Prime Minister Keir Starmer echoed a widely shared sentiment among political leaders that “nobody is above the law” amid the unfolding investigation, underscoring the seriousness with which authorities are treating the allegations.

The development marks a dramatic moment in a long-running saga involving the former royal, whose ties to Epstein have drawn legal and media attention for years, and whose public roles and honours had previously been scaled back. The situation remains fluid, with further updates expected as the investigation progresses.

Gold’s slide below $5,000 ‘not a concern’, eToro says

Zavier Wong, market analyst at eToro, characterised the current price action as a pause rather than a reversal

Rajiv Pillai
Rajiv Pillai

19 February, 2026

Gold’s slide below $5,000 ‘not a concern’, eToro says
Image credit: Getty Images

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eToro believes gold's recent dip below $5,000 is a healthy consolidation, not a reversal, within a strong bull run. Despite Trump's Fed Chair pick causing a temporary drop, underlying drivers like geopolitical uncertainty, inflation, and shifting US rate outlook remain. UAE investors should see this as a potential buying opportunity, with expectations of future Fed rate cuts further strengthening gold's...

Gold’s pullback below the $5,000 mark this week is unlikely to derail its broader uptrend, according to eToro, which views the move as a natural consolidation within a powerful bull cycle.

The precious metal had surged to fresh record highs above $5,000 earlier this month before retreating, as markets reacted to former US President Donald Trump’s nomination of Kevin Warsh as Federal Reserve Chair. The appointment was widely interpreted as hawkish, putting short-term pressure on gold prices. Thinner trading volumes during the Lunar New Year period and US market holidays further amplified the move.

“Gold’s dip below $5,000 this week shouldn’t rattle investors. If anything, it’s a healthy pause in what remains one of the strongest bull runs in recent memory,” said Zavier Wong, market analyst at eToro.

Despite the recent pullback, Wong noted that the underlying drivers of gold’s rally remain intact. The metal has gained more than 14 per cent since the start of the year, supported by geopolitical uncertainty, persistent inflation concerns and shifting expectations around US interest rates.

“Gold has gained more than 14 per cent since the start of the year, and the conditions that have driven that rally – including geopolitical uncertainty, sticky inflation concerns, and a shifting US rate outlook – haven’t gone anywhere,” Wong said.

Zavier Wong, market analyst at eToro

For UAE investors, structural support for gold remains firm. Central bank purchases continue, ETF inflows are building, and institutional demand has yet to show signs of exhaustion. Expectations that the US Federal Reserve could cut rates later this year are also reinforcing the investment case.

“When you layer in growing expectations that the US Federal Reserve could cut rates later this year, the case for holding gold only strengthens,” Wong said. “That means another leg higher from here is not off the cards, and further record highs aren’t out of the question.”

Wong characterised the current price action as a pause rather than a reversal.

“The best way to look at this current consolidation is that the market is essentially catching its breath rather than losing conviction. Any fresh catalyst – whether a softer US inflation print or an escalation in geopolitical tensions – could quickly reignite momentum,” he said.

For investors in the UAE, the recent volatility may represent short-term noise within a longer-term uptrend, and potentially a more attractive entry point compared to recent record levels.

DTC integrates 1,823 National taxis onto Bolt platform

DTC holds close to half of the city’s taxi market share and has grown significantly since its founding in 1994

Rajiv Pillai
Rajiv Pillai

19 February, 2026

DTC integrates 1,823 National taxis onto Bolt platform
Image: Getty Images

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Dubai Taxi Company (DTC) partners with National Taxi and Bolt to integrate 1,823 more taxis into the Bolt platform. This expands DTC's digital fleet, reduces wait times, and improves service reliability. The move supports Dubai's goal of increasing e-hailing and meeting growing taxi demand driven by urbanization and tourism.

Dubai Taxi Company (DTC), in collaboration with strategic partner Bolt, has entered a new alliance with National Taxi to deepen the integration of traditional taxi services with digital ride-hailing in Dubai.

The agreement, signed by Mansoor Rahma Alfalasi, CEO of Dubai Taxi Company, and Toufic Mitri, managing director of National Taxi, will see 1,823 National Taxi vehicles integrated into the Bolt platform. The move expands available fleet capacity digitally, helping reduce waiting times and improve service reliability during peak demand periods.

DTC is the leading taxi operator in Dubai and, as of 2025, operates more than 10,000 vehicles across its core transport businesses, including over 6,200 taxis, along with limousines, buses and delivery services. It holds close to half of the city’s taxi market share and has grown significantly since its founding in 1994. The Dubai taxi sector overall remains a vital part of the emirate’s mobility mix, with millions of trips recorded annually and continued growth in app-based bookings.

Image: Supplied

Alfalasi said: “At DTC, we are committed to building strategic partnerships that enhance customer experience while strengthening Dubai’s mobility ecosystem. Through this collaboration, and with the addition of National taxis to our existing fleet of over 10,000 taxis on the Bolt platform, we are expanding access to taxis and embedding them more deeply into the digital ride-hailing experience. This integration brings us closer to reaching 80 percent target set by Dubai Government of converting street hailing trips to e-hailing.”

He added that the city’s rapid digital transformation, urbanisation and tourism growth are driving taxi demand and that aligning services with these trends helps create a more resilient, future-ready mobility network.

Mitri said: “We are glad to have our fleet of 1,823 taxis on one of the UAE’s leading e-hailing platforms, Bolt. This partnership represents a significant step forward in optimising fleet utilisation and enhancing operational efficiency. With the smart technology and real-time demand matching capabilities of the Bolt platform, we are able to reduce idle time, improve driver productivity, and deliver faster, more reliable service to customers. Beyond efficiency, this collaboration enables us to elevate service quality while supporting more sustainable mobility through better route optimisation and reduced unnecessary mileage.”

Read: Dubai Taxi Company: CEO Mansoor Alfalasi shares plans, milestones

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