DMEA - Downstream Middle East & Africa

7 March 2024

Nigeria’s Dangote set to establish oil trading firm amid refinery supply issues

6 March 2024

Nigerian billionaire Aliko Dangote is working to establish a trading firm to manage crude supply for his newly operational 650,000-bpd refinery in Lagos; BP, Trafigura, Vitol and others have offered loans.

Turkish terminal freezes Russian oil business

5 March 2024

Mediterranean facility Dortyol recently sprung to attention when US senators claimed “masked Russian oil” supplied via facility even ended up in US warships.

Iran, Iraq forge oil and gas partnership at GECF summit

4 March 2024

Iran and Iraq signed a deal to solidify collaboration in the oil and gas sector at the Gas Exporting Countries Forum (GECF) summit in Algeria this week.

Saudi's SABIC reports $739mn loss amid challenging petrochemical market

29 February 2024

Saudi Basic Industries Corporation (SABIC), one of the world's largest petrochemical companies, reported a net loss of SAR2.77bn ($739mn) for 2023

SABIC facing challenging operating conditions

29 February 2024

The CEO of Saudi Basic Industries Corp. (SABIC) Abdulrahman Al-Fageeh has stated that the petrochemicals industry faces difficult conditions due to disappointing demand in target markets – pushing product prices lower at the end of 2023.

Iraq pushes for energy independence

29 February 2024

Iraq’s government has reopened the country’s North Refinery in Baiji as part of a plan to move away from a dependence on fuel imports.

Nigerian trade union urges Port Harcourt oil refinery to begin production

29 February 2024

The Trade Union Congress (TUC) of Nigeria has urged the Nigerian government to push the Port Harcourt refinery to begin production by the end of Q1 2024, according to TUC President Festus Osifo – who released a statement on February 26.

Talks for ADNOC OMV merger stall

29 February 2024

Talks for a planned $30bn merger between Abu Dhabi National Oil Company’s chemical arm and Austrian oil and gas company OMV have stalled in recent weeks, according to a report made by the Financial Times.

Marketers await fuel from Dangote

29 February 2024

Nigerian oil marketers declared on February 25 that they were still waiting for supplies of refined petroleum products from the country’s $20bn Dangote refinery – four weeks after the plant began operations.