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FINWIRES

JA Solar Delivers 1st Batch of PV Modules for Solar-Plus-Storage Project in UAE

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Chinese firm JA Solar has shipped the first batch of photovoltaic modules to Masdar's round-the-clock 5.2-gigawatt solar project, integrated with a 19-gigawatt-hour battery storage system, in Abu Dhabi, UAE, it said on Thursday.

The development is designed to provide 1 GW of daily baseload power beginning 2027, to support rising energy demand from artificial intelligence, according to the statement.

JA Solar, one of the suppliers for a 3 GW module supply order, has delivered its DeepBlue modules, which are specifically designed to support the high-load operation of AI data centers exposed to extreme climates.

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US Oil Update: Crude Slips as Markets Weigh Heightened US-Iran Hostilities

Crude oil futures settled lower in after-hours trading on Thursday but remained near their highest levels in over a month as the US-Iran conflict escalated, with Washington intensifying its strikes, hitting targets further north of the country.Front-month West Texas Intermediate crude futures slipped 0.7% to $79.07 per barrel, while Brent futures retreated 0.8% to $84.29/bbl.Soojin Kim, research analyst at MUFG, said the US carried out another round of airstrikes and disabled an empty tanker bound for an Iranian port, while Iran maintained that the Strait of Hormuz would remain closed.US commercial crude oil inventories decreased by 1.7 million barrels to 409.7 mmbbls in the week ended July 10, the Energy Information Administration said in its weekly report on Wednesday, less than Investing.com's forecast of a 1.8-mmbbl draw.Crude inventories are now about 6% below the five-year average for this time of year, the agency said.The US Central Command launched its fifth straight day of attacks on Iran on Thursday, following up on the previous night's attacks that hit an oil tanker near Iran's main export terminal.Gelber & Associates strategists said oil markets have absorbed the geopolitical premium tied to US strikes and the heightened naval presence around the Strait of Hormuz, with no confirmed disruption to physical oil flows preventing prices from rising meaningfully.Confirmed crude and condensate flows through Hormuz fell 62% to about 4.1 million barrels per day, while regional oil loadings declined 47%, according to Kpler's X post on Thursday.Though some cargoes continue to move, Kpler said the Strait remains operational but under severe restrictions, with shipping companies limiting exposure to elevated risks.Meanwhile, Iran warned that it would "crush" key targets in the Middle East if President Trump's threats to target the country's infrastructure in the coming days are carried out.Ebrahim Zolfaqari, spokesperson for Iran's military command, said infrastructure in the Gulf region that has remained untouched so far would be "smashed under the iron blows" of Iran's armed forces if the US carries out attacks on Iranian infrastructure.Iran also asked Yemen's Houthi rebels to stand ready to close the Red Sea oil route if the US strikes Iranian power infrastructure, according to media reports, which would further threaten global energy supplies.RBC Capital Markets strategists said a potential new front in the Red Sea is compounding geopolitical tensions. Saudi Arabia has increased crude exports via its East-West Pipeline and the Yanbu terminal to around 4 million b/d to offset reduced flows through the Strait of Hormuz, making the Red Sea a critical alternative export route.RBC said any renewed Houthi attacks on shipping or Saudi energy infrastructure could threaten that capacity and significantly worsen supply risks.

Oil & Energy

Halliburton Wins Aramco Contracts Covering About 285 Saudi Wells

US-based energy major Halliburton (HAL) secured multi-year Aramco contracts covering about 285 planned onshore wells in Saudi Arabia, the company said Thursday.The lump-sum turnkey contracts expand Halliburton's role in Aramco's onshore oil re-entry program across multiple fields, according to the company.Halliburton will provide an integrated execution model covering oil re-entry operations, drilling, completions and workovers to improve operational consistency, accelerate well delivery and maximize asset value, the company said.The contracts include a three-year base term with options to extend for up to two additional years, according to the company."The program supports close collaboration with Aramco and applies Halliburton's integrated services and technologies to deliver strong performance and lower drilling and completion costs across onshore development," said Rami Yassine, president, Eastern Hemisphere, Halliburton.

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Oil & Energy

US Centcom Launches Strikes Against Iran for 5th Straight Day; Hormuz Oil Flows Decline

The US launched fresh strikes against Iran on Thursday, marking the fifth consecutive night of attacks to degrade Tehran's military capabilities, as shipping activity through the Strait of Hormuz remained constrained as security risks continued to weigh on energy flows."At 2 p.m. ET today [Thursday], US forces began conducting a new wave of strikes against Iran for the sixth consecutive night to further degrade Iranian military capabilities," US Centcom posted on X.The escalation has kept pressure on energy markets and raised concerns about the security of the Strait of Hormuz.Commercial shipping activity through the strategic waterway showed limited signs of recovery following a recent agreement but has since lost momentum, according to Kpler's shipping data.Confirmed crude and condensate flows through Hormuz fell 62% to about 4.1 million barrels per day, while regional oil loadings declined 47%. Though some cargoes continue to move, Kpler said the Strait remains operational but under severe restrictions, with shipping companies limiting exposure to elevated risks.Kpler said that the market has so far absorbed much of the disruption through alternative export routes and weaker Chinese demand, as passage through the Strait of Hormuz remains selective rather than closed.However, uncertainty remains over whether Gulf producers can restore a reliable and repeatable loading cycle rather than move cargoes only during brief periods of calm.Traffic through the Strait remained subdued on July 15, with 13 confirmed crossings recorded, down from 21 the previous day, according to MarineTraffic data. For the third consecutive day, most traffic was concentrated along the Iranian-controlled route, which accounted for 10 of the 13 transits.The UK Maritime Trade Operations said on Thursday that vessels continued to use both the southern Omani corridor and the northern route, but operator caution persisted following recent attacks and rising military tensions.UKMTO said Iranian forces continued harassment activity against merchant vessels, including hailing vessels, unmanned aerial system overflights and targeted surveillance of AIS-enabled ships.Meanwhile, commercial traffic through the Southern Red Sea and Bab el-Mandeb remained steady, the UKMTO said.No confirmed attacks against merchant vessels were reported in the previous 48 hours, with coalition naval forces maintaining a visible presence in the area.Though Houthi rhetoric remained elevated, the agency said there were no operational indicators or targeting activity suggesting an immediate escalation against commercial shipping.The International Maritime Organization's daily Strait of Hormuz incident tracker showed a total of four confirmed attacks off the Omani coast and the Persian Gulf this week. These incidents bring the total number of confirmed maritime security incidents in the region to 57 as of Thursday.The IMO tracker provides a daily log of verified strikes on ships attempting to transit the Strait of Hormuz since the conflict began, with the earliest incident recorded on March 1.