Middle East
UN completes removal of oil from decaying tanker off Yemen
The United Nations said it had completed the removal of more than 1 million barrels of oil from a decaying supertanker off Yemen's Red Sea coast, averting a potential environmental disaster.
IEA lowers forecast for oil demand growth in 2024
The International Energy Agency said demand growth for oil next year will be slower than previously forecast, citing lackluster macroeconomic conditions, post-pandemic recovery running out of steam and burgeoning use of electric vehicles.
Panama-flagged tanker catches fire near Iranian shores
A Panama-flagged tanker called White Pearl has caught fire near the shores of Iran's Asaluyeh in the southern province of Bushehr, Iran's state TV reported.
Hyundai Engineering & Construction awarded contract for petchem expansion at the SATORP Refinery in Saudi Arabia
Hyundai Engineering & Construction Co., Ltd. has been awarded contracts for two EPC packages related to a petrochemical expansion at the SATORP refinery in Jubail, Saudi Arabia.
Aramco supplies remain adequate despite oil production cuts
Saudi Aramco's CEO Amin Nasser said that the company's supplies to customers remain adequate even with recent voluntary oil production cuts by the kingdom, adding that global demand remained resilient despite economic headwinds.
Large fire at Gohar petro-refinery in Doroud, Iran
A fire occurred in the tanks of the Gohar petro-refinery Industrial Zone in Doroud, injuring two people who were hospitalized,
Global Project Data
Gulf Energy Information’s Global Energy Infrastructure database is tracking nearly 1,050 active projects in the HPI.
Egypt to import more mazut fuel oil to manage power cuts
Egypt will import $250 MM up to $300 MM worth of mazut fuel oil to manage power cuts, Egyptian Prime Minister Moustafa Madbouly said.
Saudi Arabia expected to extend voluntary oil cut for September, analysts say
Saudi Arabia is expected to extend a voluntary oil output cut of 1 million barrels per day for another month to include September, five analysts said, to provide additional support for the oil market.
Fire at Kuwait's Mina al-Ahmadi refinery put out
Firefighters managed to put out a fire in one of the bitumen production unit's lines at Kuwait's Mina al-Ahmadi oil refinery, Kuwait National Petroleum Company said in a statement.
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