MEA

Air Products Signs MOU to Establish Industrial Gas Production Facilities in Saudi Arabia

Air Products Qudra and Royal Commission for Jubail and Yanbu signed a Memorandum of Understanding (MOU) to establish world-class industrial gas production facilities and distribution networks in the industrial cities of Royal Commission. The MOU sets preliminary framework details for Air Products Qudra to establish a hydrogen fueling economy in the Kingdom, achieve higher values … Read moreAir Products Signs MOU to Establish Industrial Gas Production Facilities in Saudi Arabia

Air Products to form $11.5bn JV

Air Products has confirmed that it is in final negotiations to form a joint venture with Saudi Aramco, ACWA Power and Air Products Qudra to acquire the gasification, power and industrial gas assets at Jazan Economic City, representing a total investment value of about $11.5 billion. Air Products’ confirmation follows an announcement made on Tuesday … Read moreAir Products to form $11.5bn JV

Sabic to Invest in Methanol Plant in Russian Far East

Sabic (Saudi Basic Industries Corporation) signed a preliminary agreement with the state-controlled Russian Direct Investment Fund and Moscow-based ESN Group for a potential investment in a methanol plant in the Russian Far East, as the Middle East’s biggest petrochemicals producer looks to expand its international footprint. The agreement, part of a broad range of pacts … Read moreSabic to Invest in Methanol Plant in Russian Far East

Saudi Aramco Suspends 50% of Production following Drone Attacks

Saudi Aramco emergency crews contained fires at its plants in Abqaiq and Khurais, as a result of terrorist attacks with projectiles, according to a media release from the company. These attacks resulted in production suspension of 5.7 million barrels of crude oil per day. After visiting the incident locations, Amin H Nasser, Saudi Aramco president … Read moreSaudi Aramco Suspends 50% of Production following Drone Attacks

Eni, ADNOC Close Partnership Agreements in Refining and Trading

Eni and ADNOC, said they closed their strategic partnership, announced in January, through which Eni acquired a 20 percent equity interest in ADNOC refining. The partners – which include Austria’s OMV – also set up a new trading joint venture. ADNOC Refining refines in excess of 922,000 barrels per day of crude at its Ruwais … Read moreEni, ADNOC Close Partnership Agreements in Refining and Trading

Saudi Aramco, Baker Hughes sign MOU for Non-metallic Materials Facility in Saudi Arabia

Saudi Aramco and Baker Hughes, a GE company (BHGE) signed a memorandum of understanding on July 2nd  to create a new joint venture facility in Saudi Arabia to manufacture non-metallic materials which will be used in a variety of areas of the energy industry. “This agreement supports Saudi Aramco’s strategy to play a leading role … Read moreSaudi Aramco, Baker Hughes sign MOU for Non-metallic Materials Facility in Saudi Arabia

Advanced, SK Gas sign MOU for ethylene project in Saudi Arabia

Advanced Petrochemical Company announced the signing of a Memorandum of Understanding (MOU) between Advanced Global Investment Company (AGIC), a subsidiary of Advanced, and SK Gas Co. Ltd, an affiliate of SK Group, South Korea, for the development of a Propane Dehydrogenation (to produce Propylene) and Polypropylene (to produce PP) Project in Jubail Industrial City in … Read moreAdvanced, SK Gas sign MOU for ethylene project in Saudi Arabia

INEOS to Invest $2 Billion in New Manufacturing Plants in Saudi Arabia

INEOS has signed a Memorandum of Understanding with Saudi Aramco and Total, France, to build three new plants as part of the Jubail 2 complex in The Kingdom of Saudi Arabia. A new state-of-the-art 425,000 tonne acrylonitrile plant, will use INEOS’ world leading technology and catalyst. It will be the first plant of its kind … Read moreINEOS to Invest $2 Billion in New Manufacturing Plants in Saudi Arabia

Saudi Aramco to Acquire Shell out of Sasref Refinery for $631 Million

Saudi Aramco announced on Sunday it will buy Royal Dutch Shell’s 50% interest in the SASREF refinery in Jubail Industrial City, Saudi Arabia, for $631 million. The sale is expected to complete later this year, subject to regulatory approval. According to the statement, Aramco will take full ownership of the 305,000 barrels per day refinery … Read moreSaudi Aramco to Acquire Shell out of Sasref Refinery for $631 Million

EGA Starts Alumina Production at Al-Taweelah Refinery

EGA (Emirates Global Aluminium), the largest industrial company in the United Arab Emirates outside oil and gas,  announced the start-up of Al Taweelah alumina refinery, a strategic growth project that expands the industrial giant’s business upstream in the aluminium value chain. Alumina is the feedstock for aluminium smelters and is refined from bauxite ore. Once … Read moreEGA Starts Alumina Production at Al-Taweelah Refinery

Saudi Aramco to Acquire Majority Stake in SABIC

Saudi Aramco, Saudi Arabia’s state-controlled Oil  & Gas giant has reached a $69.1 billion deal to purchase a majority stake in petrochemicals firm Sabic from the kingdom’s sovereign wealth fund. The deal will see Aramco buy the 70 percent stake in Sabic held in a share purchase agreement by the Public Investment Fund (PIF) of … Read moreSaudi Aramco to Acquire Majority Stake in SABIC

Borealis and ADNOC Sign MOUs to develop Polyolefin Industry

Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers and the Abu Dhabi National Oil Company (ADNOC) signed a Memorandum of Understanding (MoU) agreement to explore potential growth opportunities within the polyolefin industry in key geographical markets that both parties view as key demand centers in the future. … Read moreBorealis and ADNOC Sign MOUs to develop Polyolefin Industry

SABIC Plans to Merge Two of its Fully-owned Subsidiaries

Saudi Basic Industries Corporation (SABIC) intends to combine its two wholly owned subsidiaries, the Saudi Petrochemical Company (SADAF) and the Arabian Petrochemical Company (PETROKEMYA). The petrochemical giant said in a market report on Wednesday that SADAF will be fully merged into PETROKEMYA on the basis of the valuation set out in its latest financial statements. … Read moreSABIC Plans to Merge Two of its Fully-owned Subsidiaries

ADNOC seals $4 billion pipeline deal with KKR, BlackRock

ADNOC (Abu Dhabi National Oil Company) has signed a $4 billion midstream pipeline infrastructure deal with U.S. institutional investors KKR and BlackRock, the government-owned Abu Dhabi company announced on Sunday. The newly formed entity called ADNOC Oil Pipelines will lease the oil company’s interest in 18 pipelines of more than 750 km in total length … Read moreADNOC seals $4 billion pipeline deal with KKR, BlackRock

Eni and SABIC will Jointly Develop Natural Gas Conversion Tech to Produce Fuels and Chemicals

Eni and SABIC have signed a Joint Development Agreement to further develop an innovative technology for natural gas conversion into synthesis gas that can be further transformed into high value fuels and chemicals, such as methanol. The partnership will involve, among other activities, the construction of an Industrial Demonstration Plant that will be built and … Read moreEni and SABIC will Jointly Develop Natural Gas Conversion Tech to Produce Fuels and Chemicals

Aramco-Air Products to Jointly-Build Saudi’s First Hydrogen Fuel Cell Vehicle Fueling Station

Saudi Aramco and Air Products signed an agreement to jointly-build the first hydrogen fuel cell vehicle fueling station in Saudi Arabia. The collaboration between the two companies will combine Air Products’ technological know-how and experience in the field of hydrogen with Saudi Aramco’s industrial experience, facilities and R&D capabilities. Saudi Aramco and Air Products will … Read moreAramco-Air Products to Jointly-Build Saudi’s First Hydrogen Fuel Cell Vehicle Fueling Station