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US Department of Energy predicts 8% slide in Brent price in 2025
The US Department of Energy expects Brent crude oil prices to decline to an average of $74 per barrel in 2025, an 8% drop from 2024 levels.
Dangote Refinery increases storage capacity
Nigeria’s 650,000 barrel per day Dangote Refinery is currently constructing eight new oil storage tanks to help tackle issues with crude supply.
Shell plans to expand Iraq investments, CEO tells PM
Fire at Sasol’s Natref crude refinery highlights South Africa’s dependence on fuel imports
A fire that resulted in the closure of Sasol’s Natref oil refinery has left South Africa with only one crude-processing plant running, highlighting a growing reliance on fuel imports.
Iranian petrol consumption grows by 7.4%
National Iranian Oil Products Distribution Company (NIOPDC) head Keramat Veis Karami revealed this week that Iran’s petrol consumption has grown 7.4% when compared to 2024.
UK and Iraq sign GBP12.3bn partnership deal
The UK and Iraq will sign strategic partnership and security agreements during Iraqi Prime Minister Mohammed Shia' Al-Sudani's visit to London on January 14.
NNPCL set to modernise Port Harcourt, Kaduna refineries
The Nigerian National Petroleum Company Ltd. (NNPCL) has said that it plans to undertake a comprehensive overhaul of 210,000 barrels per day (bpd) Port Harcourt and 125,000 bpd Warri.
Iran’s petchem export income takes tumble amid sanctions
Iran’s revenue from petrochemical exports is expected to take a nosedive for the third consecutive year.
KPC to fund pipelines to support oil output
State-owned Kuwait Petroleum Corp. (KPC) plans to invest KWD2.2bn ($6.6bn) in developing pipelines to boost oil production capacity.
DMEA: Ras Tanura, Yanbu under threat from sea level rise
Saudi Arabia enacts new petroleum and petrochemicals law
Dangote refinery retains 13% of Nigeria's crude oil in 2024
Warri Refinery comes back online
Nigeria’s 120,000 barrels per day Warri Refinery – known as the Warri Refinery and Petrochemicals Co. (WRPC) – has started the production of diesel and kerosene.
Saudi Arabia's Ras Tanura, Yanbu under threat from sea level rise
Analysis carried out by the Internation Cryosphere Climate Initiative (ICCI) has shown that many of the world’s largest oil terminals are under threat from sea level rise, with a catastrophic sea level rise of one metre likely to occur by 2070.
SERAP threatens NNPCL with legal action over missing funds
Nigeria’s Socio-Economic Rights and Accountability Project (SERAP) has asked the Nigerian National Petroleum Co. Ltd.’s (NNPCL) CEO Mele Kyari to account for alleged missing funds.
SOCAR Türkiye plans to invest $7bn in building additional Petkim petrochemical plants
Aramco considers new oil refinery in Bangladesh
Saudi Aramco’s Ambassador to Bangladesh Essa Youssef Essa Al Duhailan said on January 5 that Aramco was keen to construct a new oil refinery in the country that would help supply domestic and regional markets in the area.
Sudan lifts force majeure on oil exports
Sudan has lifted its 10-month force majeure on oil exports through pipelines moving oil from South Sudan to Port Sudan on the Red Sea coast, a Reuters report revealed on January 6.
DMEA: Duqm petchem study to be completed in 2025
Iraqi cabinet signs off on Basrah-Haditha pipeline
The Iraqi cabinet has sanctioned the Basrah-Haditha oil pipeline project
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