Middle East

Saudi Arabia extends voluntary oil output cut of 1 MM bpd to end in 2023

Saudi Arabia will extend its voluntary oil output cut of 1 million bpd for another three months until the end of December 2023.

Refineries’ pandemic turmoil—KNPC’s gasoline demand: Opportunities and challenges

The COVID-19 pandemic is regarded as one of the most exceedingly difficult challenges faced in the oil and gas industry's history.

Global Project Data

Gulf Energy Information’s Global Energy Infrastructure database is tracking more than 1,150 active projects in the hydrocarbon processing industry.

Oil driven higher by tight supply expectations

Oil prices jumped by more than 1% and were on track to snap a two-week losing streak, buoyed by expectations of tightening supplies.

Kuwait's Al Zour refinery offers first fuel oil tender since June

Kuwait's Al Zour refinery has issued a fuel oil sales tender for the first time in more than two months.

Sinopec not interested in acquiring Shell's Singapore assets

Asia's top refiner, Sinopec Corp, is not interested in acquiring Shell's refinery or petrochemical plant in Singapore although it is keen on participating in a shale gas project in Saudi Arabia.

Ethylene copolymers market is anticipated to reach $90 B by 2033

The global market is anticipated to have a steady CAGR of 4.2% during the period from 2023 to 2033. The overall market size is predicted to expand from $59.4 B in 2023 to $89.6 B by 2033.

Turkish ministers discuss oil exports with Iraqi Kurdistan PM

Turkey's foreign and energy ministers met the head of Iraq's semi-autonomous Kurdistan regional government for talks, including on oil exports, which Turkey has blocked from the region since March this year.

Total spending on fuel subsidies topped $7 T in 2022, IMF says

Global subsidies for fossil fuels rose by $2 T over the past two years to reach a record $7 T in 2022, according to new estimates from the International Monetary Fund.

Iranian oil cargo seized by US begins unloading after long delay