Middle East downstream news

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.

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 has announced that it has received an update from QatarEnergy of ongoing force majeure affecting LNG supplies delivered to the Adriatic LNG terminal.

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 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 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).

The UAE’s decision to exit OPEC+, effective 1 May, has drawn considerable attention from oil market participants, Rystad Energy reports.

Between the week ending March 20 and the week ending April 24, the US DOE released a total of 17.5 million bbl of crude oil from the US Strategic Petroleum Reserve, according to the EIA.

The UAE's withdrawal from OPEC, effective 1 May 2026, represents the most significant fracture in the organisation's 66-year history and increases the risk of oversupply weakening prices, according to Wood Mackenzie.

Data released by Wood Mackenzie shows the Middle East conflict disrupted 80 million tpy of Gulf LNG exports, yet power markets absorbed the shock through fuel diversification.