At the end of last month smoke seen over the Dubai skyline was attributed once again to a supposed fire at an oil refinery in the Jebel Ali Industrial Zone. The supposed fire stopped traffic for some time all along the Sheikh Zayed Road, but, once again a fire at the plant did not cause the smoke.
Iran’s oil minister has voiced the country’s interest in creating an OPEC style forum for petrochemical producers. The new forum will possibly be called Petrochemical Exporting Countries Forum (PECF) and include countries such as Saudi Araibia, UAE, Russia, Qatar and Turkey.
Pakistan State Oil has released a six year plan to make it one of the 100 top oil companies in the world. The biggest step in this plan is the construction of a refinery in Khyber Pakhtunkhwa. The company is also looking to launch 100 LPG stations in Pakistan.
Three Saudi banks and Sahara & Maaden Petrochemicals Company have signed financial agreements for US$ 528.2 million. The financing is for the construction of an ethylene dichloride and caustic soda petrochemical plant in the Jubail Industrial City. The financing period will span 15 years.
Edited from Various sources by Claira Lloyd.
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