DMEA - Downstream Middle East & Africa
Qatar in talks to buy Rosneft stake in Germany's Schwedt refinery
Qatar is in negotiations with Germany over the potential purchase of Russian oil giant Rosneft’s majority stake in the German Schwedt oil refinery that Berlin placed under trusteeship in 2022.
Global oil prices rise following Libyan production shutdown
Oil prices rose significantly on August 26 following reports of Libyan production being shut down over political disagreements.
In Turkey's dance of the dead, Istanbul-listed Mega Polietilen files for bankruptcy protection
Trade ministry “regulatory forbearance” measures continuously extended to “zombie” companies since 2018 lira crash mean the dead don’t die.
Iranian president calls petrol subsidies illogical
Iran’s President Masoud Pezeshkian came out against government subsidies for petrol, calling it illogical and a “wrong policy,” Entekhab news website reported on August 27.
KPC lines up LNG supplies as shortage hits
Kuwait’s top NOC has signed up more gas supplies as it struggles to deal with summer peaking, while oil exploration continues and renewables planning begins.
Petrol usage jumps to record high in Iran
Daily petrol consumption in Iran has surged to an all-time high, the head of the state fuel distributor said amid an ongoing vehicle fuel shortage and rumours about an imminent price hike.
Around 12mn litres of Iranian fuel ‘smuggled’ to neighbouring countries daily
A total of 12mn litres of fuel is estimated to be smuggled out of Iran every day, a member of the Iranian Chamber of Commerce, Industries, Mines and Agriculture said.
Energy crisis Iran’s top issue, senior cleric warns
Iran’s ballooning energy deficit is the most pressing issue that needs to be addressed, a senior Iranian cleric and former deputy parliament speaker told state TV during a live programme.
NNPCL clarifies reasons for reducing stake in Dangote
The Nigerian National Petroleum Co. Ltd. (NNPCL) has released a statement clarifying reasons for reducing the company’s stake in Dangote Refinery from 20% to 7.2%.
Iran connects South Pars Phase 14 refinery to gas network
South Pars Phase 14 refinery has been connected to Iran’s national gas network to help fuel the country’s industry and provide more stable supply.
Saudi shipper Bahri signs deal for nine oil tankers
Bahri has signed a deal to acquire nine VLCCs for $1bn
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