Middle East
Oil prices ease on US gasoline demand worries, economic data
Oil prices eased about 1% on worries over weak U.S. gasoline demand and economic data that could cause the U.S. Federal Reserve to keep interest rates higher for longer.
QatarEnergy announces 15-yr urea supply agreement with Koch Fertilizer
QatarEnergy signed a long-term urea supply agreement with Koch Fertilizer for up to 740,000 tpy of urea.
U.S. Gulf Coast imports of straight-run fuel oil at record as global supply jumps
Imports of straight-run fuel oil (SRFO) to the U.S Gulf Coast were set to climb to record levels this month as Mideast and African suppliers ramped up exports and U.S. refiners scrambled for heavy feedstocks.
Tecnimont receives 'notice to proceed' on TA'ZIZ low-carbon ammonia plant in UAE
MAIRE Tecnimont has received from Fertiglobe the notice to proceed with the construction activities related to the low-carbon ammonia plant under development in TA’ZIZ Derivatives Park, UAE.
ADNOC to acquire 10% equity stake in major LNG development in Mozambique
ADNOC announced the acquisition of Galp’s 10% interest in the Area 4 concession of the Rovuma basin in Mozambique, entitling ADNOC to a share of the LNG production from the concession, which has a combined production capacity exceeding 25 MMtpy.
Pakistan-China to sign MoU on oil-to-chemicals complex in June
During Prime Minister Shehbaz Sharif's visit to Beijing in June, China and Pakistan are expected to sign a memorandum of understanding (MoU) on a crude-to-petrochemical refinery project.
Singapore middle distillate stocks tumble to nearly three-month low
Singapore's middle distillates stocks slid to a nearly three-month low this week, falling below 11 MMbbl for the first time in a month as gains in jet fuel/kerosene net exports offset declines in diesel/gasoil net exports.
China's CNCEC to build 300,000-bpd Al-Faw refinery in Iraq
China's National Chemical Engineering Company (CNCEC) has inked a deal with the Southern Refineries Company to build a 300,000-bpd refinery in Al-Faw, Iraq.
Ethylene downcycle puts nearly 25% of capacity at risk of closure
A series of unprecedented challenges to the global ethylene industry means that as much as 24% of global capacity is now under some threat of permanent closure according to new research by Wood Mackenzie.
GCC industry leaders solidify commitment toward plastic circularity
Arabian Gulf industry leaders reaffirmed their commitment to adopting a collaborative approach to develop plastic circularity, invest in Design for Recycling (DfR) and address plastic waste at the 13th annual Gulf Petrochemicals and Chemicals Association (GPCA) Plastics Conference.
- Petrobras delivers LPG sold at steep premiums despite Lula move to annul auction 4/3
- Plug Power to supply 275-MW GenEco electrolyzer system for Hy2gen’s Courant decarbonized ammonium nitrate project 4/3
- Vietnam refinery boosting jet fuel production 4/3
- China plans to upgrade some petrochemical plants, phase out others by 2029 4/3
- Morocco has diesel stocks for 51 days, energy ministry says 4/3
- Nigeria's Seplat Energy hit by strike amid push for higher output 4/3
