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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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Tankers face further disruption
Gibson Shipbrokers have stated that tankers are potentially facing a second source of disruption from Libya alongside the Red Sea crisis.
Escalating tensions: a delicate balancing act
In the wake of a chilling attack by Hamas on Israel in October, the political climate in the Middle East has shifted from cautious optimism to a precarious tinderbox.
LyondellBasell set to acquire 35% of NATPET
US-based LyondellBasell (LYB) recently announced that it had entered into an joint venture (JV) agreement to acquire a 35% interest in Saudi Arabian National Petrochemical Industrial Company (NATPET) from Alujain Corporation.
Bayegan to construct new Turkish petrochemical plant
Turkish petrochemicals major Bayegan Group (Bayegan) is set to construct a $1.9bn plant in Turkey’s southern region.
Nigeria has discovered 83 illegal refineries in Niger Delta
The Nigerian National Petroleum Company Ltd (NNPCL) has discovered 83 illegal refineries within just one week in the Niger Delta.
NewsBase: Climate-fuelled shipping bottleneck in Panama compounds impact of Red Sea troubles
The climate-fuelled shipping bottleneck at the Panama Canal is compounding the impact of security problems in the Red Sea.
Iranian gas flow halted over maintenance, says Iraq
Iran has halted the exports of gas to neighbouring Iraq, the Iraqi News Agency reported on January 12, less than a week after the Iranian Oil Ministry confirmed that gas imports from Turkmenistan had been cut off.
KRG’s Barzani says talks on path towards oil export resumption
President of the Kurdistan Regional Government (KRG), Nechirvan Barzani expressed optimism this week that talks between Iraq’s regional and federal administrations are leading towards a Kurdish resumption of oil exports.
Iran's demand for higher prices disrupts oil trade with China
The global oil market is facing heightened tension as Iran, a key supplier to China, the world's largest crude importer, halts its oil shipments while demanding higher prices
Houthis continue to target shipping in Red Sea
Yemen’s Houthi rebels have continued to launch attacks on shipping transiting the Red Sea
Oman Oil Marketing Company launches five new service stations
Oman Oil Marketing Company (OOMCO) expansion programme in Saudi Arabia has continued to gain momentum with the introduction of five new service stations in December 2023.
Nakilat expands fleet to meet rising demand
Qatari shipping and maritime company Qatar Gas Transport Company Ltd (Nakilat) has moved to expand its fleet by placing orders for six gas vessels to meet growing demand.
Iraqi court dismisses Jordan case against PM over discounted crude oil sales
The Supreme Federal Court of Iraq has dismissed a legal case against the country’s Prime Minister, Mohammad Shia al-Sudani, which had called for discounted crude sales to neighbouring Jordan to be halted.
Nigeria’s NNPCL to supply four crude oil cargoes to Dangote in February
Nigeria’s National Petroleum Corporation Ltd. (NNPCL) is set to supply four crude oil cargoes to the country’s $20mn Dangote refinery.
Iranian oil drilling firms going bankrupt over lack of activity, unsettled debts
Iran’s oil drilling companies are “on the brink of bankruptcy” despite having 114 onshore rigs, the head of the Iranian Drilling Association (IDA) warned.
Speculator offloads Istanbul-listed Gubretas shares as price nosedives over Iran court dispute
Turkish regulator rejects fertiliser maker’s application to hike capital by 300%, citing uncertainties over provision for case targeting Iran-based unit Razi Petrochemical.
Iran to develop new petrol refinery amid growing demand
Iran plans to build a major refinery to boost its fuel production amid growing demand for petrol that is costing the country dearly due to heavy subsidies and smuggling.
DMEA: Major oil companies pledge to cut methane emissions
Nigerian refining on track for comeback
Nigeria’s refining sector is set to see a comeback this December, with two large plants due to be operational soon
Saudi Aramco acquires 40% stake in Gas & Oil Pakistan Ltd
Saudi Aramco has signed an agreement to acquire a 40% equity stake in Gas & Oil Pakistan Ltd. (GO), bringing the company into the Pakistani fuel retail market according to a statement released by the company on December 12.
Fire hits South Khorosan oil refinery
An uncontrolled fire broke out at the South Khorosan Oil Refinery’s oil reservoirs in the eastern Iranian city of Birjand on December 10, causing two explosions, according to Iranian news sources.
Uganda targets 100 tonnes of LPG production by 2025
Uganda projects it will produce 100 tonnes of liquefied petroleum gas once oil starts flowing from ongoing projects, enough to encourage its use domestically for cooking in place of wood-burning stoves, and for export.
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