Middle East downstream news
US$500 million in value generated by ADNOC through deployment of AI solutions in 2023
ADNOC has announced that it generated US$500 million (AED1.84 billion) in value by deploying artificial intelligence (AI) solutions in 2023.
ADNOC closes acquisition of 24.9% stake in OMV
ADNOC has announced that it has formally closed the acquisition of a 24.9% shareholding in OMV AG (OMV), a global energy and chemicals group.
QatarEnergy and CPChem celebrate construction start for Ras Laffan Petrochemicals project
QatarEnergy and Chevron Phillips Chemical (CPChem) have celebrated the commencement of construction of a US$6 billion integrated polymers complex in Ras Laffan Industrial City, Qatar.
Baker Hughes and Dussur inaugurate Saudi Petrolite Chemicals facility
Baker Hughes and Dussur have formally inaugurated the previously announced joint venture (JV) chemicals manufacturing facility.
ADNOC wins Sheikh Hamdan bin Zayed Environmental Award
ADNOC has received an award in the 'Environmental Performance' category, for implementing sustainability initiatives across the company’s operations.
UAE invests to meet 2027 crude oil production capacity goal
The EIA reports that the UAE has invested heavily in increasing hydrocarbon production capacity.
Excelerate Energy signs 15-year LNG supply deal with QatarEnergy
Excelerate Energy and QatarEnergy have announced the execution of a 15-year LNG Sales and Purchase agreement (SPA).
ADNOC makes strategic investment in Storegga
ADNOC has taken a 10.1% equity stake in Storegga to become a lead investor in the UK-based company that focuses on the development of global carbon capture and storage (CCS) projects.
ADNOC signs long-term LNG Heads of Agreement from Ruwais low-carbon LNG project
ADNOC has announced the signing of a 15-year Heads of Agreement (HoA) with ENN LNG (Singapore) Pte. Ltd. for the delivery of at least 1 million tpy of LNG.
Keppel to explore sustainable fuel opportunities
Keppel Corp. Ltd and AM Green have signed a Memorandum of Understanding (MoU) to jointly explore opportunities to produce biogenic carbon-based sustainable fuels.