Middle East downstream news

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.

Emerson has announced the successful deployment of an AI-driven optimisation solution for Aramco, with the integration of Emerson’s Aspen Hybrid Models™ into Aramco’s existing refinery planning framework.

The Dated Brent spot price increased to a premium of more than US$25/bbl compared with the front-month Brent futures contract in early April, the US EIA has reported.