Middle East downstream news
AFPM: why fuel prices are not moving in lockstep with crude oil
The AFPM has gathered the following perspectives from analysts and reporters to help explain why fuel prices today are not moving in lockstep with crude oil prices, and why refining capacity has become one of the most important factors shaping what consumers pay at the pump.
API: who sets the price of oil?
The American Petroleum Institute explore how the price of oil is actually determined in the latest release here.
Wison Engineering secures US$4 Billion EPC contract for ADNOC project
Wison Engineering has announced that it has been awarded the US$3.9 billion EPC contract for Phase 2 of the Rich Gas Development Project by ADNOC Gas, UAE, the gas-processing subsidiary of ADNOC.
Tecnimont provides additional details on ADNOC's Rich Gas Development project
Further to previous communications issued during 1H26, MAIRE has provided additional details regarding the Rich Gas Development (RGD) – Phase 3 project to be delivered by Tecnimont, part of the IE&CS business unit.
MERA Oil enters final stage of site selection for planned US$5 billion refinery
MWG Enterprises, Patel Family Office, and PWS have together launched MERA Oil, a US-Saudi private consortium, and entered the final stage of selecting a host for their planned US$5 billion integrated refinery and energy export corridor.
L&T wins major order from Kuwait Oil Co. for hydrocarbon onshore business
L&T Energy Hydrocarbon Onshore business has secured a major engineering, procurement, and construction order from Kuwait Oil Co. for its key Jurassic Light Oil export facilities and the upgrade of existing export network.
Wood Mackenzie: Saudi Arabia's Red Sea crude bypass peaks in March and declines 41% by June
Gulf crude exports fall 82% from January to June; Iraq, Kuwait and Qatar record zero exports as Strait of Hormuz remains severely constrained, Wood Mackenzie has reported.
GlobalData: the Middle East to lead global methanol capacity additions by 2030
The Middle East is poised to dominate global methanol capacity additions by 2030, driven primarily by its access to abundant and cheap natural gas, which is a primary feedstock for methanol production, GlobalData has reported.
Fluor awarded FEED for petrochemical facility in Bahrain
Fluor Corp. has announced that it has been selected by Gulf Petrochemical Industries Co. to execute the front-end engineering and design for a new aromatics facility located in the Kingdom of Bahrain.
Kent secures strategic Aramco Brownfield EPC and PMC LTA agreements
Kent has announced the signing of Long-Term Agreements and Project Management Consultancy agreements with Aramco, further establishing the company’s presence in the Kingdom of Saudi Arabia.