DMEA - Downstream Middle East & Africa
Waltersmith plans oil terminal for fuel oil exports
Waltersmith Petroman Oil Ltd. has said that it plans to construct a new oil terminal to export fuel oil produced at its refinery in Imo State.
ADNOC leaves talks to buy stake in Braskem
The Abu Dhabi National Oil Company (ADNOC) has quit talks to purchase a stake in Brazilian petrochemical company Braskem from controlling company Novonor, according to a Braskem statement released May 6.
NECA calls for coordinated action on fuel scarcity – Nigeria
The Nigerian Employers’ Consultative Association has made calls for “urgent coordinated action” and “strategic interventions” to fix ongoing issues of fuel scarcity in the country.
Iraq to supply gas from Akkas to grid
The Iraqi Ministry of Oil has declared its collaboration with the Ministry of Electricity to enhance the national power supply by 1,640 MW, leveraging gas from domestic fields.
Shell to divest from downstream assets in South Africa
Shell is planning to divest from downstream assets in South Africa following an internal portfolio review, according to a statement released by the company on April 6, additionally confirmed by an interview with the Daily Maverick.
Ghana to limit taxes on LPG
Ghana’s National Petroleum Authority (NPA) is pushing to make liquefied petroleum gas (LPG) more accessible and affordable for customers around the country, planning to work with the Ministry of Finance to limit taxes on the fuel.
Aramco sticks with dividend increase despite drop in Q1 profit
Aramco has announced plans to significantly increase its dividend payments this year, despite experiencing a 14% decline in quarterly profits.
British oil & gas major Shell divesting from South Africa after 120-year presence
Shell said it has decided to divest its 72% shareholding from Shell Downstream South Africa (SDSA) after a "comprehensive review" of its businesses across all regions.
Iran to offer big incentives to methanol plants producing petrol
Iran’s Oil Ministry will give a 30% discount on the feedstocks for petrochemical plants involved in making petrol out of methanol, a union leader said.
Iran aims for €7.5bn in oil equipment exports
Iranian manufacturers are poised to ramp up exports of petroleum equipment by more than tenfold in the next two years, a union chief said on May 6.
Multibillion-dollar deals inked with petchem plants to make petrol, says senior Iranian MP
The Iranian Oil Ministry has sealed deals worth around $2.7bn with petrochemical plants to produce petrol, a senior lawmaker said, amid growing fuel shortages that are feared to burden the national budget with a deficit.
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