Middle East
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.
Diesel profit margins decline amid lower demand, more capacity
Profit margins for diesel are slumping as new refineries boost supplies and as mild weather in the northern hemisphere and slow economic activity eat into demand, putting oil prices under further downward pressure.
ADNOC signs third long-term Heads of Agreement for Ruwais LNG project
ADNOC has signed a 15-yr Heads of Agreement (LNG agreement) with EnBW Energie Baden-Württemberg AG (EnBW), one of the largest energy companies in Germany, for the delivery of 600,000 metric tpy of liquefied natural gas (LNG).
Heavy oil shortages are driving up refiners' cost
Mexican export cuts and a rerouting of Canadian output are shrinking already limited supplies of heavy crude in the Atlantic basin, driving up refiners' costs with a likely knock-on effect to industries ranging from shipping and construction to Middle Eastern power plants.
Shell in talks to sell Malaysia fuel stations to Saudi Aramco
Shell is in talks with Saudi Arabia's state-owned Saudi Aramco to sell its gas station business in Malaysia, a deal that could be worth up to $1 B.
Asian refiners eye output cuts due to diesel surplus
Asian refiners are considering cuts to refined fuel output in the coming months, with some already trimming production in May, after excess diesel supplies squeezed profits.
Iraq increases domestic refining capacity by 360,000 bpd within the past year
Iraq's Minister of Oil announced that Iraq's domestic refining capacity increased by 360,000 bpd within the last year, moving closer to achieving the country's goal of self-sufficiency in domestic fuels production.
UAE's Mubadala Capital plans $13.5-B biofuels investment in Brazil
Mubadala Capital, a subsidiary of Abu Dhabi's Mubadala Investment Company, is planning a $13.5-B investment in Brazil's biofuels sector over the next decade.
Shell records nearly $8-B Q1 profit on the back of refining, chemicals/products and LNG divisions
Shell reported a Q1 profit of $7.7 B, boosted by Red Sea trading disruptions, Russian refining outages and Shell's LNG production increases.
ADNOC, G42 and Presight partner to accelerate AI solutions for the energy sector
ADNOC, G42 and Presight AI Holding Plc., an ADX publicly listed company, have announced a new shareholding structure for AIQ.
- ExxonMobil plans 1 Blbs/yr of advanced recycling by 2027 11/22
- Gauging the likely Trump effect on U.S. energy and power sectors 11/22
- Russia's Lukoil restoring cracker at NORSI refinery, gasoline output rising 11/22
- Nigeria's local currency crude sales fall short of target, Dangote refinery says 11/22
- U.S. October gasoline imports hit post-pandemic low on slump in European shipments 11/22
- Clean Hydrogen Works awards McDermott FEED contract for Ascension Clean Energy (ACE) project 11/21
