Implementation of the direct Gulf electrical interconnection project with the Sultanate of Oman begins

The direct electrical interconnection project with the Sultanate is not merely a technical expansion of an electricity network, but rather represents an extension of a long-term strategic vision. SPA.
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Updated 02 February 2026
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Implementation of the direct Gulf electrical interconnection project with the Sultanate of Oman begins

RIYADH: The Gulf Cooperation Council Interconnection Authority has announced the commencement of implementing the direct interconnection project between its system and the Sultanate of Oman's network, marking a strategic step that reflects the evolution of Gulf integration pathways in the energy sector and the strengthening of regional infrastructure.

Undersecretary of the Ministry of Energy and Minerals and Chairman of the Board of the Gulf Cooperation Council Interconnection Authority, Mohsen Al-Hadhrami, confirmed that the direct electrical interconnection project with the Sultanate is not merely a technical expansion of an electricity network, but rather represents an extension of a long-term strategic vision laid down by Their Majesties and Highnesses, the leaders of the Gulf Cooperation Council.

He noted that this vision was approved when the Gulf electrical interconnection project was adopted as one of the pillars of Gulf integration in infrastructure, stemming from the leaders’ belief that energy security constitutes a fundamental pillar for the stability of states, the growth of their economies, and the sustainability of their development.

He pointed out that the Gulf electrical interconnection has proven, over more than two and a half decades, to be one of the most successful models of joint Gulf action, as it has contributed to enhancing the reliability of electricity networks and achieving significant economic savings for the GCC states.

Al-Hadhrami added that the direct interconnection project with the Sultanate of Oman enhances the depth of the Gulf grid, increases its operational flexibility, and embodies an advanced model of Gulf partnership in financing vital infrastructure projects.

For his part, Ahmed Al Ibrahim, CEO of the Gulf Cooperation Council Interconnection Authority, explained that the project is considered one of the largest expansion projects in the authority’s history.

It aims to enhance the capacity of the Gulf grid to accommodate the rapid growth in electricity demand, in light of the expansion of internal networks in GCC states, major changes in electrical loads, and increased electricity generation, in addition to supporting renewable energy projects and raising the readiness of networks to face emergency situations.

The direct interconnection project with the Sultanate of Oman is considered a strategic step to enhance the integration of Gulf and regional energy networks, increase the reliability and sustainability of electricity systems, and support the objectives of GCC states in energy transition and reducing carbon emissions, thereby reinforcing the position of the Gulf electrical interconnection as a global model for regional integration in the energy sector.


Closing Bell: Saudi main index slips to close at 11,228 

Updated 15 February 2026
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Closing Bell: Saudi main index slips to close at 11,228 

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, lost 23.17 points, or 0.21 percent, to close at 11,228.64. 

The total trading turnover of the benchmark index was SR2.99 billion ($797 million), as 170 of the stocks advanced and 82 retreated.    

On the other hand, the Kingdom’s parallel market Nomu gained 449.38 points, or 1.90 percent, to close at 24,093.12. This comes as 43 of the stocks advanced while 27 retreated.    

The MSCI Tadawul Index lost 6.07 points, or 0.40 percent, to close at 1,511.36.     

The best-performing stock of the day was Obeikan Glass Co., whose share price surged 7.54 percent to SR27.66.  

Other top performers included Alamar Foods Co., whose share price rose 6.80 percent to SR47.10, as well as Saudi Kayan Petrochemical Co., whose share price climbed 6.79 percent to SR5.66.   

Saudi Investment Bank recorded the steepest drop, falling 3.21 percent to SR13.56. 

Jahez International Co. for Information System Technology also saw its share price fall 3.15 percent to SR13.55. 

Rabigh Refining and Petrochemical Co. declined 2.78 percent to SR7.34. 

On the announcements front, Tanmiah Food Co. reported its annual financial results for the period ending Dec. 31. According to a Tadawul statement, the company recorded a net loss of SR18.8 million, compared with a net profit of SR95.8 million a year earlier. 

The net loss was mainly due to ongoing market challenges that resulted in continued pricing pressures in fresh poultry, inflationary cost pressures, higher financing expenses, and depreciation and ramp-up costs from new facilities, partially offset by increased production volumes and cost-optimization initiatives.  

Tanmiah Food Co. ended the session at SR58.20, up 3.72 percent. 

United International Holding Co., also known as Tas’heel, announced its annual financial results for the period ending Dec. 31. A bourse filing showed the company recorded a net profit of SR273.64 million in 2025, up 23.05 percent from 2024, primarily driven by a 23.4 percent rise in revenues. The revenue growth helped lift gross profit by 23.7 percent. 

Tas’heel ended the session at SR146.80, down 0.28 percent.