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In a region which has shown both extensive investment and increased instability over the past few years, MEA merits a significant degree of technically minded and industry-focused coverage.
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Aramco posts best ever results
This week, Saudi Aramco announced its full-year 2022 financial results, revealing a record net income of $161.1bn – its highest annual profits as a listed company. Aramco also declared a Q4 dividend of $19.5bn, which will be paid in Q1 2023.
Iran offering crude, gas and condensate on IRENEX
Iranian Oil Minister Javad Owji said at the weekend that crude oil and gas condensates would be sold to foreign customers on the Iran Energy Exchange (IRENEX). They would be available to domestic buyers at the same price during a particular period.
Iranian exports reach highest level since 2018
Iranian Oil Minister Javad Owji has said the country’s crude exports have reached the highest level since the re-imposition of US sanctions in 2018, state media reported.
Iraqi minister reveals expected scale of solar, gas output
Iraqi Oil Minister Hayan Abdulghani revealed that the government is planning to increase its focus on gas investment, while also investing in solar energy projects, during the Iraq Climate Conference.
DMEA: Modular refinery expansion complete
KwaZulu-Natal in talks about Sapref’s future
South Africa’s KwaZulu-Natal provincial government has announced it is discussing the future of the Sapref refinery with the Department of Mineral Resources and Energy (DMRE) and operators Shell and BP. The 180,000 bpd plant is located near Durban.
Investors assume control over biofuel refinery project
Nigeria’s Kebbi State has handed over control of a recently completed ethanol-based biofuel refinery to a group of companies following the recent completion of construction.
Iran and Oman sign cross-sector MoU
Iran and Oman’s energy ministers met in Tehran this weekend and announced the signing of a memorandum of understanding covering joint development across oil, gas and petrochemicals.
Explosion near illegal refinery site in Nigeria.
Twelve people were killed in an explosion near an illegal oil refinery in Nigeria’s Niger Delta last week according to a police report, although local reports suggest the death toll is higher.
Aramco signs $6bn deal to support Korean firms in-Kingdom
Saudi Aramco has agreed a $6bn framework deal with the Export-Import Bank of Korea to assist South Korean companies in securing Saudi contracts. The three-year agreement was signed by Eximbank's head Yoon Hee-Sung and Aramco CFO Ziad Al-Murshed.
Tanzania completes talks with Equinor and Shell on $30bn LNG project
Tanzania has concluded negotiations on a $30bn LNG project with Equinor (Norway) and Shell (UK), creating an opportunity for launching the development of the country’s vast offshore natural gas resources after years of delay.
Jordan keen to raise oil imports from Iraq
Jordan aims to boost its oil imports from Iraq, with negotiations currently underway to renew the memorandum of understanding (MoU) between the two countries for the supply of Iraqi crude oil.
Diesel shortage looms in Nigeria despite planned Dangote Refinery opening, S&P warns
Nigeria may experience a shortage of diesel supply in the short term, despite the upcoming opening of the new Dangote Refinery in Q4 2023, according to a report by S&P Global Commodity Insights.
Top South African industrial heating fuel supplier FFS Refiners signs final gas supply agreement with Kinetiko Energy
FFS Refiners Proprietary Ltd, a leading supplier of industrial heating fuels in South Africa, has signed a non-binding memorandum of understanding with Kinetiko Energy that will see the finalisation of a gas supply agreement.
DMEA: Luberef signs Yanbu expansion deal
Vessel carrying 600,000 barrels of Russian crude oil to Ghana loaded from Kazakhstan port
Global energy sector emissions reach new high in 2022
Global energy-related CO2 emissions reached a new record in 2022 of 36.8bn tonnes, inching up 0.9% from the previous year’s level, the International Energy Agency reported last week.
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