Downstream News


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Saudi Oil Premium Drops to 15-Year Low
Wednesday, December 05, 2018 Saudi Arabia's crude pricing in the world's biggest oil market is reflecting tumbling profits from making cleaner fuels in Asia.

Saudis Pushing for More Asian Market Share
Tuesday, December 04, 2018 Saudi Arabia is "fighting very hard for the Asia market share," said one analyst.

Sabic Team Scouring World for M&A Deals
Tuesday, November 27, 2018 Sabic is targeting acquisitions and partnerships with oil majors as the petrochemicals giant seeks to expand in faster-growing markets.

Saudi Aramco to Invest $100B in Chemicals
Monday, November 26, 2018 The world's biggest oil exporter is earmarking $500 billion to invest over the next 10 years.

Oman Merges Oil Companies to Create Refining-to-Trading Business
Monday, November 19, 2018 The largest Persian Gulf producer that's not an OPEC member is combining state-run oil investment and refining companies to form a business that spans pumping crude and natural gas to processing and trading fuels.

Iraq Resumes Oil Exports from Kirkuk
Friday, November 16, 2018 Iraq said it resumed oil exports from Kirkuk to Turkey, which had been halted for a year by a political dispute.

Abu Dhabi Signals Global Ambition, Seeks Refineries
Tuesday, November 13, 2018 Abu Dhabi signaled its ambitions to send more oil and gas around the world as it woos investors to fields at home and hunts for assets abroad.

A Qatari's Quest to Become World's Gas King
Tuesday, November 06, 2018 On Sunday, Al-Kaabi was appointed minister of state for energy issues and vice chairman of Qatar Petroleum.

Kurds Add Pipeline Capacity to Export Kirkuk Oil
Tuesday, November 06, 2018 Iraq's semi-autonomous Kurds upgraded their oil export pipeline to accommodate future production growth.

Sunken Iranian Tanker Sanchi among Ships Hit by Sanctions
Monday, November 05, 2018 Among the hundreds of Iranian-linked banks, companies and vessels that the US slapped sanctions against was an Iranian crude oil tanker called the Sanchi.

Kuwait Megaproject Hits Utility Milestone
Friday, November 02, 2018 KNPC is retiring existing processing facilities at its Shuaiba refinery and upgrading and expanding its Mina Al Ahmadi and Mina Abdullah refineries.

Red Sea Project to Create 30,000 Jobs
Thursday, November 01, 2018 Saudi Aramco and SABIC will develop an integrated industrial complex to convert crude oil to chemicals at Yanbu.

Replacing Iran's Lost Oil Supply to Help Supertanker Fleet
Tuesday, October 30, 2018 Higher OPEC oil production and longer voyages are propelling shipowners back to good times.

Aramco Signals Chemical Ambitions Beyond Sabic Deal
Wednesday, October 24, 2018 Saudi Aramco's CEO says he has bigger ambitions in petrochemicals beyond the planned $70 billion acquisition of a strategic stake in Sabic.

Iraq Wants to Know How Buyers Use Its Oil
Wednesday, October 17, 2018 Major OPEC producer Iraq would like to know how and where its oil will be used.

Aramco and Total Progress $9B Petrochem Project
Monday, October 08, 2018 Saudi Aramco and Total sign a joint development agreement for the front-end engineering and design of a giant petrochemical complex in Jubail, Saudi Arabia.

Egypt to Receive First Israeli Gas as Early as March
Monday, October 08, 2018 Egypt will begin importing natural gas from Israel under a $15 billion deal as early as March.

Oil Tanker Rates Surge as Iran Rivals Look to Be Boosting Supply
Monday, October 08, 2018 The oil tanker market is surging amid signs that impending US sanctions against Iran are prompting rival producers in the Middle East to ramp up shipments.

Saudi Petrochemical Producers Sign $2.2B Merger Agreement
Wednesday, October 03, 2018 Saudi International Petrochemical Co. signs a non-binding agreement to acquire Sahara Petrochemical Co.

Iran's Oil Buyer and Rival, UAE May Be Cracking Down on Trade
Wednesday, October 03, 2018 The United Arab Emirates appears to be taking steps to comply with looming US sanctions against the Islamic Republic's energy industry.

How Much Oil Can Saudis Really Pump? We're Set to Find Out
Friday, September 28, 2018 Does Saudi Arabia have the extra oil?

Qatar Said to See $40 Billion Income Gain From Gas Expansion
Wednesday, September 26, 2018 Qatar will generate $40B in additional export revenue once it competes its natural gas expansion project in 2024, according to sources.

Iranian Oil Tankers Disappearing from Tracking Systems
Tuesday, September 25, 2018 No signals have been received by shore stations or satellites from 10 of Iran's crude oil supertankers for at least a week, according to tanker tracking data compiled by Bloomberg.

Iran Resorts to Floating Storage as Curbs Continue
Tuesday, September 11, 2018 Iran is starting to store oil on its fleet of supertankers again as impending US sanctions force the Persian Gulf country to revive a strategy it deployed under previous curbs.

ADNOC Seeks to Make Downstream City More Livable
Monday, September 10, 2018 ADNOC has big plans for Ruwais City.

US To Help Nations Replace Iran Oil, May Consider Waivers
Thursday, September 06, 2018 Washington will consider waivers for Iranian oil buyers but they must eventually halt imports as sanctions are imposed on Tehran, Pompeo says.

Saudi Aramco In Early Talks On Jumbo Debt Deal
Wednesday, September 05, 2018 Saudi Aramco is having preliminary talks with banks about a potential debt financing of up to $70B.

Sources: Aramco Plans To Ship First Crude Oil To Malaysia JV Refinery
Tuesday, September 04, 2018 Saudi Aramco plans to deliver the first crude oil cargo to its joint-refinery project with Petronas in Malaysia in October.

Sources: UAE's Brooge Petroleum Aims For London Listing Before Year End
Tuesday, September 04, 2018 BPGIC plans to raise $400 million in an initial public offering in London, sources say.

Data: Iran Oil Exports Set To Drop In August Ahead Of US Sanctions
Tuesday, August 28, 2018 Iran's crude oil and condensate exports in August are set to drop below 70 million barrels for the first time since April 2017.

Saudi Aramco Shelves IPO for Sabic Stake
Thursday, August 23, 2018 Saudi Arabia has formally put the initial public offering of its giant oil company on hold while Aramco focuses on buying a strategic stake in Sabic.

Jacobs Wins Saudi Arabia Contract Renewal
Wednesday, August 15, 2018 SATORP has granted Jacobs ZATE a two-year contract extension to provide general engineering services.

Iraq And Petrofac Sign $369MM Deal To Build Majnoon Crude-Processing Plant
Monday, August 13, 2018 Iraq signs a $369 million contract with Petrofac to build a new crude-processing facility in the giant Majnoon oilfield.

Despite Lower Crude Exports, Iran's Tanker Dependence Growing
Wednesday, August 08, 2018 It is still nearly three months until U.S. sanctions on Iran's oil exports snap back into force, but they are already having a big impact on the Persian Gulf country's trade.

Yemen's Houthis Halt Red Sea Attacks For Two Weeks
Tuesday, July 31, 2018 Yemen's Houthi group says it is unilaterally halting attacks in the Red Sea.

Saudi's SABIC Expects 2H Positive Growth; Eyes Overseas Expansion
Monday, July 30, 2018 SABIC expects positive growth in the second half of this year.

Houthi Attack Damages Saudi Ship Off Yemen's Coast
Wednesday, July 25, 2018 Yemen's Houthis attacked a Saudi oil tanker in the Red Sea, causing slight damage, an Arab coalition says.

Saudi Aramco Taps Saipem for Pipeline System Contract
Wednesday, July 25, 2018 Saipem has won onshore contracts in Asia, Europe, North America and Africa totaling approximately $800 million.

McDermott Wins 25-tank Saudi Contract from Samsung
Tuesday, July 24, 2018 Samsung Engineering Saudi Arabia has awarded McDermott a fixed lump sum contract for a total of 25 storage tanks.

Trump's Twitter War with Iran Spotlights Vital Oil Route
Monday, July 23, 2018 The war of words between Trump and his counterpart in Iran over oil exports and sanctions is shining a spotlight on the narrow, twisting conduit for about 30% of the world's seaborne-traded crude.

Yemen's Houthis Say They Attacked ARAMCO Refinery In Riyadh With Drone
Wednesday, July 18, 2018 The Iranian-aligned Houthi movement in Yemen said it had attacked a Saudi Aramco refinery in Riyadh.

Carbon Holdings One Step Closer to Finalize Financing for $10.9B Plant
Tuesday, July 17, 2018 Carbon Holdings hopes to finalize financing for its $10.9 billion petrochemical plant by the end of the year.

Saudi Refinery Exports First Gasoline Barrels To US
Wednesday, July 11, 2018 A refinery in Saudi Arabia has shipped its RBOB gasoline to the United States for the first time.

Iraq Still In Talks With Turkey, KRG Over Resuming Kirkuk Oil Exports
Monday, July 02, 2018 Iraq is still in talks with Turkey and Kurdish regional authorities to resume Kirkuk oil exports through the Ceyhan port, Iraqi Oil Minister Jabar al-Luaibi says.

World's LNG Giant Is Pumping $20 Billion Into US Oil, Gas
Tuesday, June 26, 2018 Qatar Petroleum is looking to get even larger, investing $20 billion in America's oil and gas fields at a time when rival US exporters are expanding.

KBR to Bolster Foothold in Oman
Tuesday, June 26, 2018 The company unveiled its plans in conjunction with announcing a contract award from Oman LNG.

Sources: Spain's Repsol Hires Tanker For Iran's Pars Oil As Sanctions Loom
Tuesday, June 19, 2018 Repsol has hired Malta-flagged suezmax Mabrouk to ship the first export parcel of Pars oil.

Israel, Egypt Gas Partners Near Deal to Control EMG Pipeline
Thursday, June 14, 2018 The companies developing Israel's largest natural gas fields and an Egyptian partner are close to a deal that would give them control of the pipeline to Egypt.

Libyan Oil Exports Impaired as Some in OPEC Seek More Supply
Thursday, June 14, 2018 Two of Libya's biggest oil ports stopped loading crude after armed forces clashed nearby, taking more barrels off the market.

Saudi Arabia To Supply Full July Crude Oil Volumes To Some Asian Buyers
Tuesday, June 12, 2018 Saudi Arabia has informed five Asian refiners that it will supply full contractual volumes of crude oil in July, sources say.