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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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Seized Iranian tanker to have cargo of oil unloaded by US
The ship – carrying an estimated 800,000 barrels of oil – is currently anchored 70 miles (112 km) offshore from Galveston having arrived on May 29, according to satellite imagery and transponder location data.
Petrofac signs $1.5bn petrochemicals deal, Algeria
An engineering procurement and construction contract for a $1.5bn complex located in Arzew Industrial Zone has been awarded to Petrofac by STEP Polymers, a subsidiary of Algeria’s state-owned Sonatrach.
Nigerian president urged to cut government stake in oil and gas sector
President Bola Tinubu’s advisory team has suggested that the Nigerian government should reduce its stake in the oil and gas sector to boost the country’s economic growth by $17bn.
KPC cancels tender for consultancy study
The Kuwait Petroleum Corp. (KPC) has reportedly cancelled a tender that it had issued in December for a consulting study to determine financing options for its subsidiaries.
Iraqi budget passed with Baghdad taking control over Kurdish oil revenues
Iraq has passed a three-year budget while moving to exert greater control over the Kurdistan Region’s oil sector
KPC prepares decarbonisation roadmap, launches gas pipeline
State-owned Kuwait Petroleum Corp. (KPC) said last week that it has developed a strategy and roadmap for low-emission energy transformation.
DMEA: NOC wins arbitration case
Nigerian MP says government should have eliminated fuel subsidies in 2011
MP Chris Azubogu argues that Nigeria might not experience so much economic hardship as a result of President Tinubu’s move to eliminate domestic fuel subsidies if the government had taken action earlier.
Sonangol and China National Chemical Engineering Co. sign Lobito refinery MoU.
The MoU – signed for the 200,000 bpd facility – occurred as part of obtaining and implementing funds for completion of the project. The Lobito refinery will provide up-to-date technology processing fuels such as Jet A1, diesel, gasoline and LPG.
Libya’s NOC wins arbitration against Emirati firm
Libya’s National Oil Corp. (NOC) has won an arbitration against the UAE’s Trasta Energy, winning an appeal from a request filed in February 2022 to the Paris Court of Appeal.
NNPCL eases crude oil swap contracts
Nigeria’s NNPC Ltd has announced that it is moving away from crude swap contracts with traders as part of President Bola Tinubu’s plans to lessen the burden on government finances and deregulate the gasoline market.
Kenya seeks private investors to take over operations at five ports
Kenya’s authorities are searching for private investors to take over operations and management of five ports, with the aim of increasing the maritime sector’s competitiveness and generating $10bn for the country.
Fujairah state firm looks for EPC partners for downstream expansion
Modular refiner and storage operator Fujairah National Energy Co. (FUJNEC) has asked engineering, procurement and construction (EPC) firms to express interest to in participating in tenders for work in the emirate.
Fuel price protests claim five lives in Angola
Peninsula Petroleum secures Egypt’s second bunkering licence awarded to foreign ship fuel supplier
Nigeria Labour Congress suspends strike over fuel subsidy after court ruling, government meeting
Nigerian electricity sector workers declare nationwide strike over removal of fuel subsidies
Saudi cuts deeper as OPEC+ extends deal
Saudi Arabia has announced that it will cut its oil output by 1mn barrels per day in July, with OPEC+ agreeing to extend its current deal until next year.
DMEA: Subsidies no longer affordable
NewMed building subsea pipeline linking LNG facilities in Egypt to Aphrodite offshore gas reservoir
NewMed, the developers of Cyprus’s Aphrodite offshore natural gas field, plans to build a subsea pipeline linking the offshore gas reservoir to existing Egyptian liquefied natural gas processing facilities, local media report.
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