Middle East downstream news

Saudi Aramco has signed a memorandum of understanding with Ratnagiri Refinery and Petrochemicals Ltd to develop and build an integrated refinery and petrochemicals complex.

Air Liquide has signed a long-term contract with LyondellBasell to supply oxygen to a new large-scale petrochemical plant.

Saudi Aramco and Total have signed a Memorandum of Understanding to build a large petrochemical complex.

Motiva Enterprises has signed MoUs worth between US$8 billion to US$10 billion with Honeywell UOP and TechnipFMC.

ADNOC has signed two new three-year deals for the sale of up to 1.5 million tpy of naphtha as part of its 2030 smart growth strategy.

One project is to introduce crude oil processing flexibility and the other is to recover power and water, both at the ADNOC-owned Ruwais oil refinery.

According to a GlobalData report, merger and acquisition deals in the downstream sector totalled $21.1 billion in 2H17, down from $26.2 billion in 1H17.

The new terminal is set to increase Oman’s storage capacity for refined products by 70%.

Kuwait Petroleum Corp. has selected Jacobs to conduct a pre-feasibility study for the expansion of local refining capacity.

Saad Sherida Al-Kaabi met with Indian energy officials to discuss bilateral cooperation, particularly in the LNG sector.