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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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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.
Egypt: Red Sea Petrochemicals, CNCEC sign agreement for petchem project
Red Sea National Petrochemicals Co. (Red Sea Co.) and China National Chemical Engineering Co. Ltd. (CNCEC) have signed a non-binding framework agreement for the construction of a petrochemical facility in Egypt’s Suez Canal Economic Zone (SCZone).
Saudi Arabia to construct second green hydrogen plant in Yanbu
Saudi Arabia’s Acwa Power is set to construct a new green hydrogen plant, having selected China’s Sinopec Guangzhou Engineering and Madrid-based Tecnicas Reunidas SA to carry out a front-end engineering and design (FEED) contract.
Turkey-Iraq pipeline impasse highlights billion dollar standoff
A fresh spotlight has been cast on the deep-seated financial and legal disputes blocking the restart of Iraqi oil exports via Turkey
Nigeria's Dangote set to increase capacity to 700,000 bpd
Nigeria’s 650,000 barrel per day (bpd) Dangote refinery is currently undergoing modifications to raise its capacity to 700,000 bpd, according to Punch.
Daily diesel usage drops 6% in Iran due to anti-smuggling efforts
Iran has cut its daily diesel consumption by nearly 6% compared to last year, largely due to tighter oversight, smart fuel monitoring systems, and reinforced controls to combat fuel smuggling, a deputy oil minister said.
Azerbaijan’s Socar reportedly considering sale of Aegean Sea container port in Turkey
Azerbaijan’s national oil company Socar is mulling a sale of its port unit in Turkey, Bloomberg reported on July 22.
Saudi crude exports continue to increase
Crude exports from Saudi Arabia reached their highest point in May compared to the preceding three months, according to a Reuters report citing data released by the Joint Organizations Data Initiative (JODI) on July 21.
EU and UK sanction Dubai-based operator of Gabon and Comoros ship registries tied to Russian oil exports
Fire occurs as Iran’s Abadan refinery
The Iranian oil ministry’s news agency Shana reported on July 19 that the country’s 500,000 barrel per day (bpd) Abadan refinery had suffered a fire, with one of the plant’s employees passing away before the blaze was contained.
Nigeria: Port Harcourt refinery suffering from funding shortfall, PETROAN says
The Petroleum Products Retail Outlets Owners Association of Nigeria’s (PETROAN) national public relations officer Joseph Obele revealed this week that Nigeria’s 210,000 barrel per day (bpd) Port Harcourt refinery was yet to resume operations.
Aramco discussing Jafurah-based finance deal with BlackRock
Aramco is reportedly working on a deal to raise approximately $10bn from a consortium led by BlackRock for the infrastructure of its flagship Jafurah gas project
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