DMEA - Downstream Middle East & Africa

ADNOC withdraws from Wataniya deal

The Abu Dhabi National Oil Co. (ADNOC) has withdrawn from bidding on Egypt’s Wataniya Petroleum as the deal was ending, according to sources with inside knowledge of the event.

Iran might import petrol for upcoming New Year holiday

Iran is mulling to import petrol for the looming New Year holiday as production and consumption have leveled off, Deputy Oil Minister Jalil Salari said.

Iraq seeks foreign companies to realise Nebras petchem project

Iraq is searching for international energy companies to realise the struggling Nebras petrochemical project in the southern oil hub of Basra following the withdrawal of Shell Oil Co, according to a government announcement on February 18.

Djibouti signs $90mn deal for petroleum products

The International Islamic Trade Finance Corp. (ITFC) has signed a deal with Djibouti to secure energy supply through the importation of petroleum products.

Aramco plans to issue long-term bond

Saudi Aramco is gearing up to issue a bond this year, with a focus on longer maturities of up to 50 years, according to chief financial officer Ziad Al-Murshed.

Houthis report new US-UK airstrike on Hodeidah

The Houthi group reported over the weekend that a joint airstrike by the US and UK had targeted the coastal province of Hodeidah in western Yemen.

DMEA: Dubai Municipality signs MoU to produce SAF

Shell quits Nebras petrochemical project

Shell released a statement on 13 February saying it would not be proceeding with the Nebras petrochemical project in southern Iraq, due to a major decline in profits in the area.

Port Harcourt refinery receives crude oil from Shell

Nigeria’s Port Harcourt Refining Complex (PHRC) has received 475,000 barrels of crude oil from Shell, marking a resumption in oil supply to the plant.

Dubai Municipality signs MoU to produce SAF

Dubai Municipality has signed a memorandum of understanding with NV Besix SA, Marubeni Middle East and Africa Power Ltd. (MAMEA) and ENOC Marketing at the World Governments Summit 2024 to produce SAF.

Final investment decision for Hoima refinery expected in 2024

The Uganda National Oil Co. (UNOC) announced in a statement to ChimpReports on February 13 that it expected the UAE’s Alpha MBM Investments to make a final investment decision on the construction of Hoima oil refinery by the end of 2024.

IMF urges Nigeria to phase out subsidies on fuel and electricity

The International Monetary Fund (IMF) has urged the Nigerian federal government to completely remove subsidies for fuel and electricity, noting that such policies were expensive and ineffective at helping the country’s population.

Saudi Arabia to collaborate with Nigeria on LPG adoption

Saudi Arabia’s Oil and Sustainability Programme (OSP) has launched the national human capacity training programme together with the Nigerian ministry of petroleum in a bid to increase usage of liquefied petroleum gas (LPG) for clean cooking.

Nigeria's Dangote oil refinery issues tender for first fuel cargo export

This is a significant milestone for the refinery, which was inaugurated in 2023. It began buying crude in December last year.