DMEA - Downstream Middle East & Africa

27 July 2023

Saudi Aramco completes purchase of Rongsheng stake

26 July 2023

Saudi Aramco has successfully completed a transaction to acquire a 10% stake in China’s Rongsheng Petrochemical Co. (Rongsheng) for $3.4bn through a subsidiary located in the Netherlands, Aramco Overseas Company BV.

China, Algeria sign agreements on infrastructure, petrochemicals and energy

25 July 2023

China and Algeria signed numerous agreements last week involving infrastructure, petrochemicals and energy as part of a state visit to Beijing by Algeria’s president Abdelmadjid Tebboune.

KRG delivering crude to SOMO as per budget deal

25 July 2023

Iraq’s Kurdistan Regional Government (KRG) has delivered approximately 50,000-60,000 barrels per day of oil to Baghdad since mid-June.

Iran to export petrochemicals to Kenya, Uganda and Zimbabwe

25 July 2023

The deal will see the three African countries buy petrochemicals from Iran in exchange for other goods, according to a statement made by the Iranian government.

Kenyan cabinet gives nod for KPC to take over KPRL assets

25 July 2023

The Kenyan Cabinet has approved the takeover of assets belonging to the defunct Kenya Petroleum Refineries Ltd (KPRL) by the Kenya Pipeline Company (KPC), a development that is designed to enhance the supply of petroleum products.

Dubai replaces Geneva as key base for Russian oil trade

23 July 2023

Dubai and other cities in the UAE have replaced Geneva as a major base for traders of Russia’s oil since Swiss authorities joined the EU embargo on that trade last year.

Iraq considers pipeline renovation as port expansion falters

23 July 2023

Discussions are reported to be ongoing concerning the potential renovation of an old crude line running from Iraq to the Mediterranean.

Nigerian petrol prices reach record high

20 July 2023

Nigerian petrol prices have skyrocketed to a record high following the removal of a long-standing fuel subsidy by President Bola Tinubu.

Al-Zour starts up final crude distillation unit

19 July 2023

Kuwait’s 615,000 barrel per day Al-Zour refinery has brought its third and final crude distillation unit (CDU) online, putting Kuwait’s target to have the refinery achieve its full capacity by the end of September within reach.

Iraq’s North Refinery announces plan for rehabilitation

19 July 2023

Iraq’s 150,000 barrel per day North Refinery announced plans on Monday, 17 June to add a gas flare recovery and treatment unit to the facility, while also revealing plans to tackle obstacles on the way to facilitating the plant’s rehabilitation.

Nigerian Petrol prices high after subsidy removal

19 July 2023

The price of fuel had been updated around the country from NGN557 ($0.72) per litre around fuel stations operated by the Nigerian National Petroleum Co. Ltd. (NNPCL).

Kuwait to set up sovereign fund to develop mega projects

19 July 2023

Kuwait is planning to establish a new sovereign fund called Ciyada Development Fund, according to Reuters.