DMEA - Downstream Middle East & Africa

Iranian petrochemical exports set to increase in 2024

Iranian petrochemical exports are set to increase by 1.5mn tonnes in 2024 surpassing previous figures, according to the head of Iran’s National Petrochemical Co. Morteza Shahmirzaei.

GECF strikes bullish tone on gas demand growth

The Gas Exporting Countries’ Forum (GECF) has come out with a bullish prediction that consumption of the fuel will surge by 34% by the middle of the century.

SOCAR's total investments in Turkish Petkim petrochemical complex amounted to $1.7bn

SOCAR Turkey Enerji has invested $1.7bn in the development of the Turkish petrochemical complex Petkim Petrokimya Holding, Elchin Ibadov, General Director of SOCAR Turkiye Enerji (SOCAR’s Turkish subsidiary) said in an interview.

Sonangol awards Lobito project management deal to KBR

US-based engineering company KBR announced in a March 14 press release that it had been awarded a project management contract by Sonagol for the design and construction of Angola’s planned 200,000 barrels per day (bpd) Lobito refinery in Benguela.

Nigeria is largest importer of European refined petrol in Africa – S&P

S&P Global Commodity Insights analysts have said that Nigeria has become Africa’s largest importer of European refined petrol as shipments from the continent to Africa increase.

Riyadh engages Wall Street for Aramco share sale

Saudi Arabia is in active discussions with major Wall Street banks for a significant share sale of Saudi Aramco, to support the Kingdom's ambition to diversify its economy and strengthen its position on the global financial stage.

DMEA: Saudi Aramco to reduce supply of oil to China, India

Aramco eyes more global investments

CEO of Saudi Aramco Amin Nasser said on March 9 that the company was looking for new opportunities to invest in China due to growing oil demand in the country, as well as investing in liquefied natural gas and petrochemicals.

Iran braces for petrol consumption upsurge during Nowruz

Iran is gearing up for a sharp rise in petrol consumption during the upcoming New Year holiday (Nowruz), amid a new record high in fuel use rates.