Middle East
China's Sinopec will not buy Iranian oil, wants to tap state reserves
The world's largest refiner usually sources roughly half of its crude oil needs from the Middle East, making it particularly exposed to the near-closure of the Strait of Hormuz amid the U.S.-Israeli war on Iran.
Prices for oil, fuel cargoes smash record highs as Iran war chokes Middle East supply
Surging oil prices in physical markets — the trading place for oil on ships, rail cars or in storage tanks — have outpaced the already dizzying increases in benchmark futures markets, as refiners and traders across Asia and Europe are snapping up whatever barrels they can secure to plug the enormous supply gap caused by the U.S.-Israeli war on Iran.
ADNOC and OMV advance formation of Borouge Group International AG
The formation of Borouge Group International AG, through the combination of Borouge Plc and Borealis, and acquisition of Nova Chemicals, is progressing according to plan, with the transactions close expected by the end of March 2026, subject to customary conditions.
Macquarie walks away from Kuwait oil pipelines deal amid Iran war
The Australian infrastructure investor notified Kuwait Petroleum Corporation on Friday that it was exiting the process because of the conflict and uncertain outlook, one source said, as dealmakers try to press ahead with the transaction despite unprecedented regional volatility.
Oil majors' output in the Middle East
Most western oil and gas majors have significant operations in the Middle East, where the U.S.-Israeli on Iran has disrupted oil and gas shipping and halted some output.
Iraq asks KRG to help pipe crude oil to Turkey
The Kurdistan Pipeline Company operates Iraqi Kurdistan's main oil pipeline, which transports crude from northern Iraq to a border connection point with the Iraq–Turkey pipeline.
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- Phelan Green selects Honeywell process technology for flagship South African eSAF facility 4/2
- Metafuels secures Dutch government grant to advance Rotterdam eSAF project 4/2
- Topsoe partners with Hynfra P.S.A. to advance green ammonia in Jordan 4/2
- China calls for independent refiners to maintain fuel output amid war disruption 4/2

