Downstream News


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Statement: Iraqi Oil Minister To Visit Turkey
Monday, February 19, 2018 Iraqi Oil Minister Jabar al-Luaibi will visit Turkey at the end of the week at the invitation of his Turkish counterpart to discuss the resumption of oil exports through Turkey's Ceyhan port.

Israel to Export Natural Gas to Egypt in $15 Billion Deal
Monday, February 19, 2018 The lead partners in Israel's largest gas fields said they signed a $15 billion export deal with Egypt.

Abu Dhabi Broadens Oil Partnerships in $1.5B Cepsa Deal
Monday, February 19, 2018 ADNOC awarded a second slice of its offshore concessions in as many weeks, this time to refiner and producer Cia Espanola de Petroleos SA for a $1.5B fee.

JODI: Saudi Oil Exports Rose Slightly In December
Monday, February 19, 2018 Saudi Arabia increased its crude oil exports slightly in December to 7.045 million bpd, official data shows.

Iraq Says $4B Needed For New Downstream Oil Investments
Tuesday, February 13, 2018 Iraq needs $4 billion for new investments in its downstream oil industry, oil minister Jabar al-Luaibi says.

Iraq Signs Agreement To Build Oil Refinery Near Kirkuk
Thursday, February 08, 2018 Iraq has signed an agreement to build a 70,000-barrels-per-day oil refinery near the northern city of Kirkuk, the oil ministry says.

ADNOC Awards Ruwais Upgrade to Samsung-CB&I JV
Wednesday, February 07, 2018 The project will introduce crude processing flexibility at Ruwais Refinery-West.

Kuwait Petroleum To Spend Over $500B By 2040 As It Lifts Oil Capacity
Wednesday, January 31, 2018 Kuwait Petroleum Corp expects to spend over $500 billion as it boosts its crude oil production capacity to 4.75 million barrels per day in 2040.

Iraq To Build Oil Refinery In Fao With Chinese Firms, Plans 3 Others
Monday, January 29, 2018 Iraq plans to build an oil refinery at the port of Fao on the Gulf with 2 Chinese companies.

Qatari Condensate Prices Rally On Robust Asia Demand Amid Tight Supply
Monday, January 29, 2018 Asian refiners and petrochemical makers are snapping up cargoes of Qatari condensates.

Iraq, Orion Sign Deal To Process Gas From Giant Oilfield
Monday, January 22, 2018 Iraq agrees a deal with U.S. energy company Orion to process natural gas extracted at its giant Nahr Bin Omar oilfield.

Saudi's Refined Oil Exports Offset Crude Curbs
Friday, January 19, 2018 The share of Saudi Arabia's exports of refined oil products steadily rose throughout 2017, offsetting a drop in overseas crude oil sales.

CB&I, Chevron Lummus Global, Saudi Aramco Launch 'Crude-to-Chemical' JV
Thursday, January 18, 2018 Three-way agreement is 'technological first,' says Saudi Aramco president.

Saudi Aramco Hires Former Shell Executive For Chemicals Business
Wednesday, January 10, 2018 State oil giant Saudi Aramco hires Olivier Thorel, a former senior executive at Royal Dutch Shell, as executive director for its chemicals business.

Saudi-Led Coalition Says Thwarts Houthi Attack On Oil Tanker
Wednesday, January 10, 2018 The Saudi-led coalition fighting in Yemen says it had thwarted an attack on a Saudi oil tanker over the weekend.

Israel's Oil Refineries To Build 135 MW Natural Gas Power Plant
Wednesday, January 03, 2018 Israel's Oil Refineries receives government approval to build a 135 megawatt natural gas-fueled power station to replace an old coal-fired plant.

Gulf Mostly Rises On Oil Surge; Saudi Petchems, Builders Up
Wednesday, December 27, 2017 An overnight surge in the Brent oil price above $67 a barrel for the first time since May 2015 helped most Gulf stock markets rise.

Kuwait Secures LNG Deal as Gulf Energy Exporters Hunt for Gas
Sunday, December 24, 2017 Kuwait struck a 15-year deal with Shell for LNG, locking in supplies as neighbors in the oil rich Gulf consider their own import strategies.

Saudi Aramco Embarks on Global Hunt for Natural Gas Supplies
Thursday, December 21, 2017 Saudi Aramco is looking for natural gas assets from Russia to East Africa and the US.

Qatargas Signs Deal To Deliver LNG To Austria's OMV
Wednesday, December 20, 2017 Qatargas agrees a sale and purchase deal with OMV.

Iraq To Use Drones To Protect Oil Pipelines From 2018
Monday, December 18, 2017 Iraq plans to use drones to monitor and protect its export and production pipelines in the first quarter of 2018, an oil ministry spokesman says.

Gas Demand to Get Boost as Supply Surge Sends Prices Lower
Thursday, December 14, 2017 Demand for natural gas will continue to rise over the next two decades, according to the Gas Exporting Countries Forum.

Iraq Boosts Output Capacity At Kirkuk Oil Refinery-Oil Ministry
Monday, December 11, 2017 Iraq's Oil Ministry has added a new processing unit to the Kirkuk oil refinery, increasing the plant's capacity to 56,000 barrels per day.

UAE's ADNOC Proposes Change To Oil Price Mechanism
Monday, December 11, 2017 ADNOC seeks feedback from Asian buyers on whether it should change its monthly pricing mechanism.

CB&I Wins Contract for Saudi Aramco-Shell Project
Thursday, December 07, 2017 Contract valued at more than $95 million, CB&I reports.

Adnoc Unit IPO to Raise $902 Million After Narrowing Range
Wednesday, December 06, 2017 Abu Dhabi National Oil Co. plans to raise as much as $902 million from the IPO of its fuel-retailing unit.

TechnipFMC-Led Consortium To Expand Bahrain Refinery
Friday, December 01, 2017 Bapco has awarded a consortium led by UK-based TechnipFMC a contract to expand Bahrain's only oil refinery.

Israel's Oil Refineries Names Yashar Ben Mordechai As CEO
Wednesday, November 29, 2017 Israel's Oil Refineries (ORL), the country's largest refining and petrochemicals group, appoints Yashar Ben Mordechai as its new chief executive.

CEO: SABIC Plans To Spend $3-$10B In Acquisitions Over Next 5 Years
Tuesday, November 28, 2017 Petrochemical producer Saudi Basic Industries Corp (SABIC) plans to spend between $3 and $10 billion on acquisitions over the next 5 years.

Qatari Energy Minister Sees Oversupply Of LNG In Coming Years
Wednesday, November 22, 2017 Qatar's energy minister says he expects oversupply of liquefied natural gas in the coming years.

ADNOC Pushes Ahead With IPO After Emaar Sale
Monday, November 20, 2017 Abu Dhabi National Oil Co. plans to sell as much as 20% of its fuel-distribution unit.

Turkish, Iraqi Officials Discuss Resuming Kirkuk Oil Exports
Thursday, November 16, 2017 A Turkish energy delegation has met with Iraqi top oil officials in Baghdad to discuss issues including the resumption of Kirkuk oil exports.

Sources: China's Zhenhua Oil Wins First Diesel Tender With Iraq's SOMO
Thursday, November 16, 2017 Zhenhua Oil will supply diesel to Iraqi state-oil marketer SOMO through a term contract for the first time.

Oil Seen As Real Prize of Iran's Kurdish Adventure
Tuesday, November 14, 2017 After helping Iraq stifle a Kurdish push for independence, Iran is now positioning itself to take control of oil exports from the region's giant Kirkuk field.

Sources: Oman's Duqm Refinery To Seek $6B Bank Funding Soon
Monday, November 13, 2017 Oman's Duqm Refinery and Petrochemical Industries Co will approach banks in about two weeks.

As Saudi Arabia Limits US Crude Shipments, Iraq Steps In
Monday, November 13, 2017 Saudi Arabia's efforts to reduce a worldwide crude supply glut by cutting shipments to the United States means others are now filling in.

RIA: Moscow, Riyadh Agree To Explore Aramco Taking Part In Novatek Project
Monday, November 13, 2017 Russia and Saudi Arabia have agreed to study the possibility of Saudi Aramco taking part in Novatek's Arctic LNG 2 project.

Blast Causes Fire In Oil Pipeline In Bahrain, Says Ministry
Friday, November 10, 2017 An explosion caused a fire in an oil pipeline in Bahrain, the Interior Ministry said.

OPEC Sees Oil Use Peak in Late 2030s If Electric Cars Boom
Tuesday, November 07, 2017 A larger-than-expected boom in electric vehicle sales could cause global oil demand to peak and flatten out in the late 2030s, OPEC says.

Saudi Aramco to Push Back Shutdown at Ras Tanura Refinery
Monday, November 06, 2017 Ras Tanura is Saudi Arabia's largest oil refinery with a capacity of 550,000 barrels per day.

State Firm: Iraq Wants Control Of Kurdish Region's Oil Exports
Thursday, November 02, 2017 Iraq wants the Kurdistan region to stop independent crude exports and to hand over sales operations to state-oil marketer SOMO, the company's director says.

Fire At Tehran Oil Refinery Kills Six
Friday, October 27, 2017 A fire at an Iranian oil refinery in Tehran's Shar-e Rey district killed six workers and injured two others.

Why Oil-Rich Gulf Arab Countries Are Turning to Renewables
Thursday, October 26, 2017 Solar power is getting so cheap that even Gulf Arab states awash in crude oil are embracing the renewable resource.

Iraq Adds Oil-Export Facility to Offset Output Drop in Kurd Feud
Monday, October 23, 2017 Iraq began using a new offshore crude-exporting facility to help boost shipments by sea.

Iraq's Oil Exports via Turkey Dwindle as Kirkuk Fields Stay Shut
Thursday, October 19, 2017 Crude exports from northern Iraq fell again, and output remained curtailed in the nation's disputed Kirkuk province.

Iraq's Pipeline Exports Slump After Clash With Kurds at Kirkuk
Wednesday, October 18, 2017 Oil exports from northern Iraq dropped by more than half as production in the country's disputed Kirkuk province slumped for a second day.

Iraq's Luaibi Orders Work To Reopen Oil Pipeline To Turkey
Tuesday, October 10, 2017 Iraq plans to reopen a crude oil pipeline from the Kirkuk oilfields to Ceyhan in Turkey, the oil ministry said.

Iraq and Iran Boost Oil Exports in Sales Battle With Saudis
Tuesday, October 10, 2017 Iraq and Iran boosted crude exports in September, taking advantage of a slower pace of shipments from rival Saudi Arabia to win buyers in key markets like China and the US.

Petronas Chem Sells Half Of Polymers Business To Saudi Aramco For $900MM
Monday, October 02, 2017 Petronas Chemicals Group Bhd (PCG) says it plans to sell 50% of a polymers unit to Saudi Aramco's wholly owned subsidiary.

Iran Vows Oil Exports as Cargoes Seen Unscathed by Trump Threat
Monday, September 25, 2017 Iran will persist with exporting its oil to global customers, unfettered by Donald Trump's intensifying offensive against the country, according to the Middle East nation's state-run producer.