Middle Eastern downstream update

Abu Dhabi
Abu Dhabi Polymers Co. (Borouge), has awarded contracts worth US$ 2.6 billion to Samsung Engineering Co., Marie Tecnimont SpA and Hyundai Engineering & Construction Co. The company is adding a third production line to its Ruwais plant. The contracts awarded to Samsung and Marie Tecnimont are for the construction of two polyethylene units and two polypropylene units that can process 1.08 million tpy and 960 000 tpy respectively. Hyundai’s contract is for the construction of utilities and other facilities linked to the units.

Iran
Paz Oil Company has announced plans to upgrade its Ashdod refinery. The company is planning on spending US$ 118 million on the project.

Iranian officials have been discussing the construction of two new refineries and have said that the construction of these facilities could end all gasoline imports in to the country in the next two years. Currently Iran imports at least 30% of its gasoline.

National Petrochemicals Company (NPC) announced that during the last Iranian calendar year, it exported approximately 13 million t of petrochemicals to countries all over the world. Also, Iran as a whole exported approximately US$ 1 billion of petrochemicals to Europe alone during the last Iranian calendar year.

Saudi Arabia
Due to debate between Saudi Aramco and MMC Corp. regarding the location of the Jazan refinery, construction of the Red Sea harbor project has been delayed. Relocation of the refinery will have a huge impact on the port and surrounding infrastructure construction.

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