Refining - 13 August 2018

The company will be responsible for expanding Basra Oil’s central processing facility in the Majnoon field in southern Iraq.

For the week ending July 6 2018, the four-week average of US gross refinery inputs surpassed 18 million bpd for the first time on record, according to figures from the US Energy Information Administration.

The joint venture will purchase gasification assets, power block and associated utilities in Jazan Economic City from Saudi Aramco for over US$8 billion.

Sources who have visited the construction site of the Dangote oil refinery near Lagos, Nigeria, have told Reuters that it is unlikely to begin production until 2022, two years later than the target date.