DMEA - Downstream Middle East & Africa
Iranian ambassador to Russia Kazem Jalali noted on Sunday that there had been an increase in trade between Iran and Russia, particularly in petrochemical and technological sectors.
The ship – carrying an estimated 800,000 barrels of oil – is currently anchored 70 miles (112 km) offshore from Galveston having arrived on May 29, according to satellite imagery and transponder location data.
An engineering procurement and construction contract for a $1.5bn complex located in Arzew Industrial Zone has been awarded to Petrofac by STEP Polymers, a subsidiary of Algeria’s state-owned Sonatrach.
President Bola Tinubu’s advisory team has suggested that the Nigerian government should reduce its stake in the oil and gas sector to boost the country’s economic growth by $17bn.
The Kuwait Petroleum Corp. (KPC) has reportedly cancelled a tender that it had issued in December for a consulting study to determine financing options for its subsidiaries.
Iraq has passed a three-year budget while moving to exert greater control over the Kurdistan Region’s oil sector
State-owned Kuwait Petroleum Corp. (KPC) said last week that it has developed a strategy and roadmap for low-emission energy transformation.
MP Chris Azubogu argues that Nigeria might not experience so much economic hardship as a result of President Tinubu’s move to eliminate domestic fuel subsidies if the government had taken action earlier.
The MoU – signed for the 200,000 bpd facility – occurred as part of obtaining and implementing funds for completion of the project. The Lobito refinery will provide up-to-date technology processing fuels such as Jet A1, diesel, gasoline and LPG.
Libya’s National Oil Corp. (NOC) has won an arbitration against the UAE’s Trasta Energy, winning an appeal from a request filed in February 2022 to the Paris Court of Appeal.
Nigeria’s NNPC Ltd has announced that it is moving away from crude swap contracts with traders as part of President Bola Tinubu’s plans to lessen the burden on government finances and deregulate the gasoline market.
Kenya’s authorities are searching for private investors to take over operations and management of five ports, with the aim of increasing the maritime sector’s competitiveness and generating $10bn for the country.
Modular refiner and storage operator Fujairah National Energy Co. (FUJNEC) has asked engineering, procurement and construction (EPC) firms to express interest to in participating in tenders for work in the emirate.