As the global energy landscape transitions towards cleaner alternatives, Middle East and North Africa (MENA) economies are facing the challenge of adapting their hydrocarbon sector to significant declines in oil prices. MENA's National Oil Companies (NOCs), which historically dominated the oil and gas industry, are now spearheading the region's shift towards a low-carbon future. While the decline in oil prices poses challenges to their revenue models, NOCs like Aramco, QatarEnergy, ADNOC, and Sonatrach are proactively evolving to become comprehensive energy producers. They are investing in clean energy projects such as blue ammonia, hydrogen, and carbon capture, not only to meet climate commitments but also to ensure long-term economic growth and global influence. By committing significant funds to clean energy initiatives, these NOCs are reshaping MENA's energy landscape and positioning the region as a leader in sustainable energy innovation. This strategic transition represents a fundamental shift in economic and geopolitical priorities, emphasizing MENA's continued role in global energy markets in a decarbonized world.