Bloomberg Gulf Island Fabrication Inc. has for decades built hulking platforms to extract oil and natural gas from the seabed. With the collapse of offshore drilling, the company has turned to helping harvest another energy resource: wind. Gulf Island built all five turbine foundations for the first US offshore wind farm, which is expected to go into service in ...

  Bloomberg The oil market is in “much more critical” shape than when OPEC last met and its members must seek ways to stabilize crude prices, possibly by freezing or cutting output, Algeria’s energy minister said ahead of talks among the group’s members this week in Algiers. Saudi Arabia, the biggest producer in the Organization of Petroleum Exporting Countries, is ...

  KUWAIT / Reuters Kuwait Projects Co (KIPCO), the Gulf state’s largest investment company, said on Sunday construction had begun on its $2.0-$2.5 billion real estate project in Kuwait, which has been downsized by around half from its original estimated cost. The mixed-use project, which had previously been valued at $5 billion, was scaled down after an earlier estimate did ...