DMEA - Downstream Middle East & Africa

Fossil fuel consumption subsidies in 2022 were at record high of $1 trillion

According to the International Energy Agency, worldwide subsidies for fossil fuel consumption increased dramatically in 2022, surpassing $1 trillion for the first time.

Al-Zour chems contracting continues as refinery ramps up

Tanzania issues construction licence to EACOP Ltd

Tanzania has formally authorised the construction of its section of the East Africa Crude Oil Pipeline (EACOP), which will carry petroleum from western Uganda to the shores of the Indian Ocean.

BP predicts faster decline in oil and gas demand

China considers investments in Mahshahr petrochemical zone

OPEC+ to stick with current deal to end of 2023

Sonatrach, Total to construct Algerian petrochemical plant in July

Israel blames Iran for drone attack on product tanker in Arabian Sea

Luberef considers dividend after announcing profit increase

UAE’s ADNOC to float minority 4% stake on Abu Dhabi exchange

Perenco takes FID on building LNG plant at Cap Lopez terminal in Gabon

Perenco (UK/France) intends to build a natural gas liquefaction plant in Gabon as part of a wider effort to expand the capabilities of its Cap Lopez terminal.

DMEA: Cabinda tests to begin in December

Gulf investors may buy a minority stake in merged Egyptian petrochem company

Galp reportedly instructs Bank of America to arrange for sale of 10% stake in Rovuma LNG

Portugal’s Galp is reportedly gearing up to drop a minority stake in the $30bn Rovuma LNG project from its African portfolio.

ADNOC Distribution completes acquisition of 50% stake in TotalEnergies Marketing Egypt

Iraq’s Nebras petchem project set for revival