Middle East
China's CNCEC to build 300,000-bpd Al-Faw refinery in Iraq
China's National Chemical Engineering Company (CNCEC) has inked a deal with the Southern Refineries Company to build a 300,000-bpd refinery in Al-Faw, Iraq.
Ethylene downcycle puts nearly 25% of capacity at risk of closure
A series of unprecedented challenges to the global ethylene industry means that as much as 24% of global capacity is now under some threat of permanent closure according to new research by Wood Mackenzie.
GCC industry leaders solidify commitment toward plastic circularity
Arabian Gulf industry leaders reaffirmed their commitment to adopting a collaborative approach to develop plastic circularity, invest in Design for Recycling (DfR) and address plastic waste at the 13th annual Gulf Petrochemicals and Chemicals Association (GPCA) Plastics Conference.
ADNOC delivers first bulk shipment of CCS-enabled, low-carbon ammonia to Japan
ADNOC has delivered the world’s first certified bulk commercial shipment of low-carbon ammonia enabled by carbon capture and storage to Mitsui & Co., Ltd. for use in clean-power generation in Japan.
Weak Asia refining margins see swing to crude from the Americas
The profit from turning a barrel of crude oil into fuels in Asia is at the lowest in seven months, which is leading refiners to turn away from expensive Middle East grades and seek cheaper alternatives from the Americas.
Iran's Persian Gulf Mehr refinery scheduled for completion in early 2025
Phase 1 construction of Iran's Persian Gulf Mehr refinery is progressing, with project completion expected in early 2025.
Iran announces 15 petrochemical projects to expand domestic production to nearly 80 MMtpy
Morteza Shahmirzaei, head of the National Petrochemical Co. (NPC), in Iran, announced plans to launch 15 petrochemical projects that will increase the country's domestic production to nearly 80 MMtpy.
Russia gained newer diesel trade partners in 2023
In 2023, Brazil and Saudi Arabia replaced France and Germany as the countries with the second- and third-most seaborne diesel imports from Russia after sanctions related to Russia’s petroleum product trade went into effect in February 2023.
Iran to boost gasoline, diesel production as new units go online
Jalil Salari, Managing Director, National Iranian Oil Refining and Distribution Company (NIORDC), provided an update on the country's refining units going online this year, which will significantly boost domestic gasoline and diesel production.
Kuwait Petroleum renews oil supply deal to Unipec
Kuwait Petroleum Corp has renewed its contract to supply 300,000 bpd of crude oil to China's Unipec, the trading arm of Asia's largest refiner Sinopec, until 2033.
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