DMEA - Downstream Middle East & Africa
Saudi Arabia’s King Abdullah Port has partnered with two marine fuel and service providers to reduce ship waiting times as part of a commitment to provide fuel supply and bunkering services to every vessel entering the facility.
Petrefuel Holdings (Petrefuel) is set to acquire 100% of Royal Energy, with the Competition Commission saying on 4 August that it had recommended the acquisition be approved, provided certain conditions are met.
Israel is revisiting a debate it had a decade ago about how much of the country’s natural gas reserves should be available for export. The issue is back due to the changing political and economic circumstances in the region and Europe.
Jordan’s Ministry of Energy and Mineral Resources (MEMR) announced this weekend that it will be increasing imports of crude oil from Iraq to 15,000 barrels per day, up from the current 10,000 bpd.
The Abu Dhabi National Oil Company (ADNOC) brought its net-zero climate targets forward five years to 2045 on Monday, 31 July as the United Arab Emirates prepares to host the United Nation’s COP28 conference in December.
The Nigerian National Petroleum Company Limited (NNPCL) said on Monday, 31 July that it plans to develop Nigeria’s gas and transportation infrastructure in a push to achieve clean and affordable energy in the country.
The net profit of Saudi Aramco Base Oil Co. (Luberef) climbed 21.68% to $240mn during the first half of 2023, with the company’s net profit for the second quarter also rising 3.97% to $121mn compared with $116mn reported the previous year.
Angola, Africa’s second-largest oil producer – producing 1.1mn bpd of crude – will begin to produce diesel and petrol for its own population upon completing new refineries. Oil and gas generate around three-quarters of the country’s exports.
India’s state-owned LNG company Petronet LNG will attempt to extend with Qatar its long-term gas import deal at lower prices than the Gulf country offered China and Bangladesh in recent deals, Reuters reported on July 31.