DMEA - Downstream Middle East & Africa
Iran eyes $100bn in investment to power petchem expansion
Iran’s National Petrochemical Company (NIPC) has outlined plans to attract up to $100bn in domestic and foreign investment for 144 licensed petrochemical projects.
Ghana’s Engen rebrands as MISA Energy, aims to lead Africa’s petroleum future
Engen Ghana has rebranded as MISA Energy Ghana Limited, marking a major strategic shift in its ambition to become a leading African energy company,
Aramco profit slide deepens despite output boost, pressuring Saudi Arabian revamp
Aramco’s quarterly profits continue to fall, but the company is ploughing funds into maintaining its upstream position, taking a bullish view of the market outlook
Saudi Arabia: SABIC must minimise costs, says corporate finance EVP
SABIC’s EVP for corporate finance Salah al-Hareky has said that the company faces “urgent pressure” to minimise costs following the closure of its UK olefins plant in June and challenges in petrochemicals markets, according to S&P Global.
Nearly 72% of Nigeria’s daily petrol consumption in May and June supported by imported fuels
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) revealed this week that marketers had restarted large-scale imports of refined petroleum products instead of buying from domestic refineries, according to Punch.
Nigeria: EFCC refutes rumours regarding NNPCL CEO’s alleged resignation
Nigeria’s Economic and Financial Crimes Commission (EFCC) has denied claims that it had placed the CEO of the Nigerian National Petroleum Co. Ltd. (NNPCL) Bayo Ojulari under duress in a bid to see the official resign.
Nigeria's oil production tops 1.8mn bpd in July for first time since November 2024
Nigeria’s oil production exceeded 1.8mn barrels per day (bpd) in July for the first time since November 2024, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed.
Azerbaijan’s Socar says it wants to expand, not sell, Aegean Sea container terminal in Turkey
The State Oil Company of the Azerbaijani Republic (Socar) is not mulling the sale of its Aegean Sea container terminal in Turkey, according to Turkish business daily Dunya.
Kuwait’s state oil giant looks to speed up Kuwaitisation
Kuwait Petroleum Corp. has initiated a sweeping, top-down overhaul aimed at simultaneously reshaping its workforce
Aquarius Energy acquires stake in giant oil storage site in South Africa
Aquarius Energy, a joint venture focused on fuel supply and logistics has completed its acquisition of Oiltanking’s 37% stake in Oiltanking MOGS Saldanha (OTMS), Africa's largest oil storage site, located on the West Coast of South Africa.
Egypt plans $400mn bioethanol plant in partnership with Italian firms
The state-run Egyptian Sugar and Integrated Industries Company (ESIIC), a state-owned enterprise, is studying the construction of a $400mn bioethanol production facility at its Kom Ombo sugar factory in Upper Egypt.
Kenyan fuel prices spike as subsidy fund collapses
The Kenyan government is currently facing financial pressure as pump prices climb to their highest levels in years while the country’s fuel subsidy fund remains depleted, according to Uzalendo News.
Nigeria: Aliko Dangote demands halt to fuel imports
Africa’s richest man and CEO of Dangote Group Aliko Dangote pushed the Nigerian government to ban fuel imports as part of its ‘Nigeria First’ policy this week, underscoring the poor quality of imported goods.
Follow us online