DMEA - Downstream Middle East & Africa

Iran set to hold IPO for Persian Gulf Star Refinery

Iran has announced that it plans to list shares of the Persian Gulf Star Refinery (PGSR) in a bid to increase flows of liquidity into the facility.

CJ Logistics completes operation in Iraq

South Korean logistics company CJ Logistics revealed on August 12 that it had completed a project logistics operation in Iraq through its Middle Eastern subsidiary CJ ICM, moving 1.1mn tonnes of heavy cargo for oil refining facilities.

KPC opens trading office as merger momentum builds

The state-owned Kuwait Petroleum Corp. has become the latest Gulf NOC to expand its global trading footprint, opening a new trading hub in Dubai.

Shell, BP to support operational costs at Sapref refinery following sale

Shell and BP are set to pay $15mn to South Africa’s state-run Central Energy Fund to support operational costs at the 180,000 barrels per day Sapref refinery – a plant that is currently being sold by the two oil majors.

Kurdistan's regional government closes illegal refineries over environmental concerns

Iraq’s Erbil province – located in the country’s Kurdistan region – has shut down around 125 illegal refineries over two days (August 11 and 12), authorised by the region’s governor, Omed Khoshnaw.

South Africa’s gas master plan needs "substantive reworking", says energy minister

Nigeria's Dangote Refinery laments crude oil shortages as NUPRC fails to enforce supply regulations

Natural gas producer Orca Energy to claim $1.2bn in contractual dispute with Tanzania and TPDC

DMEA: Aramco becomes majority shareholder in Petro Rabigh

Port Harcourt Refinery set to fully reopen in August

The Port Harcourt Refinery, one of Nigeria’s key oil processing facilities, is set to become fully operational this month.

Nigeria Senate criticises $1.5bn expenditure on Port Harcourt Refinery for lack of visible results

Swiss conglomerate Glencore invests $175mn in rebuilding oil refinery, takes $611mn coal impairments in South Africa

Swiss commodity multinational Glencore suffered $611mn in impairments related to its coal business in South Africa in the first half of 2024 due to export logistics challenges that have afflicted the economy for years.

Iran’s petrochemical sector spared from power cuts but steel industry hit badly

Iran’s petrochemical industry has been largely spared from power outages during the summer peak while the steel industry has borne the brunt, with production taking a nosedive, according to a union leader and official data.

Wrong policies blamed for Iran’s ‘mega’ energy crisis

An Iranian union leader on August 7 blamed “wrong” government policies for Iran’s widening petrol deficit which is part of what a lawmaker called a “mega” energy crisis.

Aramco becomes majority shareholder in Petro Rabigh

Saudi Aramco has signed a definitive agreement worth $702mn to purchase a 22.5% stake in an integrated refining and petrochemical complex named Rabigh Refining and Petrochemical Co. from Sumitomo Chemical.