Middle East downstream news
Aramco and Emerson collaborate on strategic corrosion R&D
Emerson have announced it will co-develop next-generation corrosion management solutions for the Saudi Arabian Oil Co. (Aramco).
Wood Mackenzie: Strait of Hormuz closure risks greatest global energy supply shock in decades
Oil prices could reach US$200/bbl in worst-case scenario as more than 11 million bpd of Gulf crude and condensate supply remains curtailed, Wood Mackenzie has reported.
ADNOC signs agreements with Indian energy partners
ADNOC has announced the exchange of two strategic collaboration agreements with Indian partners, reinforcing the strong and expanding UAE-India energy partnership.
EIA updates forecast amid continued Mideast disruption
The US Energy Information Administration has published its May Short-Term Energy Outlook, reflecting a continued disruption to Middle Eastern oil flows.
TA’ZIZ announces US$2 billion financing for methanol plant
TA’ZIZ has announced that the TA’ZIZ Methanol Co. has achieved financial close on US$2 billion (AED7.34 billion) financing for the UAE’s first world scale methanol plant in Al Ruwais Industrial City.
Borogue to deliver first batch of XLPE materials
Borouge Plc is set to deliver the first batch of Cross-Linkable Polyethylene (XLPE) materials from its Borouge 4 expansion project this quarter, further supporting the development of the UAE’s energy sector.
Edison: QatarEnergy extends force majeure
Edison has announced that it has received an update from QatarEnergy of ongoing force majeure affecting LNG supplies delivered to the Adriatic LNG terminal.
Rystad Energy: US-Iran deal would delay, not end, supply crisis
Even if a deal is struck, Rystad Energy cautions that the consequences for physical oil markets will be slower and more conditional than futures prices are currently pricing in.
TA’ZIZ and Alpha Dhabi sign agreement for US$10 billion chemicals investment
TA’ZIZ and Alpha Dhabi Holding have announced a strategic collaboration agreement for ~$10 billion (AED36.7 billion) in capital investment in new industrial chemicals in the TA’ZIZ industrial chemicals ecosystem in the UAE.
TA’ZIZ announces agreements to expand UAE’s chemicals ecosystem
TA’ZIZ has announced the signing of long-term agreements spanning offtake, feedstock, and sales across its chemicals portfolio valued at US$28.5 billion (AED104.6 billion).