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Saudi's SABIC reports $739mn loss amid challenging petrochemical market
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
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
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.
Thailand's GUNKUL secures 6 solar power projects with EGAT and PEA, boosting capacity
Thai company Gunkul Engineering Public Company Limited has signed a 25-year power purchase agreement with the Electricity Generating Authority of Thailand
Argentina's Milei administration accuses Chubut governor of extortion amid funding cut row
Argentina's political landscape is heating up as a clash between President Javier Milei's libertarian government and the oil-rich province of Chubut intensifies over tax disbursements.
Laos to build massive $2bn wind farm, sparking environmental concerns
Laos is set to build one of Southeast Asia's largest wind farms near the Vietnamese border, aiming to become the "battery of Southeast Asia."
Iran and Russia ink 19 economic MoUs, including energy
Iran and Russia have signed 19 memoranda of understanding, including four MoUs on energy cooperation, during a high-level economic meeting in Tehran
Shadowy Russia firm reportedly switches 60% stake in Uzbek gas storage facility to Hong Kong entity as Tashkent reacts to sanctions jitters
A shadowy Russian company has transferred its controlling stake in Uzbekistan's largest underground gas storage facility to a Hong Kong-registered holding company
Iran’s gas supply to Iraq hampered by cold wave
Nigerian trade union urges Port Harcourt oil refinery to begin production
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.
Sakhalin Energy offers China a short-term annual deal of 12 LNG cargoes
Sakhalin Energy, the Russian energy company, has proposed a deal to supply Chinese buyers with 12 shipments of LNG annually for a period of three to five years.
Thai quest to increase LNG use sees groundbreaking shipment to Hin Kong Power Plant
Thailand's Gulf Energy Development has marked the arrival of its inaugural LNG shipment to supply the Hin Kong Power Plant west of Bangkok, as stated in the company's 2023 results report released on February 20.
Talks for ADNOC OMV merger stall
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.
Envusa Energy completes project finance for 520-MW South African renewable energy projects
Russia's natural gas production increased 6.8% y/y to reach 55.7bn cubic metres in January 2024
Russia's natural gas production increased 6.8% y/y to reach 55.7bn cubic metres in January 2024, according to the latest figures from RosStat. This growth marks the highest production level since March 2022.
Industry group forecasts $29.9bn spending for Canadian oil, gas sector in 2024
The Canadian Association of Petroleum Producers (CAPP) forecasts capital expenditures for Canada’s upstream oil and gas sector will reach CAD40.6bn ($29.9bn) in 2024, rising slightly from an estimated actual investment of CAD39bn for 2023.
Perenco commences drilling at Hylia South West in Gabon
Perenco Oil & Gas Gabon (POGG) has commenced drilling operations for an appraisal well near the Hylia South West discovery, situated offshore Gabon.
Kenyan IPPs eye exports to Eastern Africa Power Pool (EAPP)
Kenya to run G2G oil deal until December, regulator says; more OMCs join scheme
Kenya will keep in place a government-to-government oil import deal until December, the EPRA says. OMCs One Petroleum Ltd One and Asharami Synergy has joined Galana Oil, Gulf Energy, Oryx Energy in the scheme.
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