MEA

SABIC, Yokogawa Sign Strategic Collaboration Agreement

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Saudi Basic Industries Corporation (SABIC) announced that it has entered into a strategic alliance framework agreement to accelerate collaboration with Yokogawa Electric Corporation. The agreement includes selection of Yokogawa as a preferred supplier of control systems. Under this alliance agreement, Yokogawa will promote localization in Saudi Arabia, and its integrated control systems and safety instrumented … Read more SABIC, Yokogawa Sign Strategic Collaboration Agreement

SAFCO Acquires SABIC’s Agri-Nutrients Unit

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The Saudi Arabian Fertiliser Company (SAFCO) agreed to acquire a unit of Saudi Basic Industries Corporation (SABIC) to improve growth and look for new markets, the company said on Wednesday. SAFCO will acquire 100% of SABIC Agri Nutrients Investment Company, which is valued at 4.59 billion Saudi riyals ($1.2 billion) by way of an increase … Read more SAFCO Acquires SABIC’s Agri-Nutrients Unit

RIL, ADNOC in pact to explore setting up Ethylene Dichloride JV

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The Abu Dhabi National Oil Company (ADNOC) signed a framework agreement with Reliance Industries to explore development of an Ethylene Dichloride facility in Ruwais. The agreement was signed by Mr. Abdulaziz Alhajri, Executive Director of ADNOC’s Downstream Directorate, and Mr. Nikhil R. Meswani, RIL Executive Director. Under the terms of the agreement, ADNOC and RIL … Read more RIL, ADNOC in pact to explore setting up Ethylene Dichloride JV

SAGIA, Shell and AMG Sign Agreement to Build Catalyst Recycling Facility

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The Saudi Arabian General Investment Authority (SAGIA), Shell Overseas Services Ltd. (Shell) and Advanced Metallurgical Group N.V. (AMG) signed a memorandum of understanding (MOU) to evaluate the potential for construction and operation, subject to regulatory approvals, of a spent catalyst recycling facility in Jubail Industrial City, Saudi Arabia. The signing took place in Riyadh, Saudi … Read more SAGIA, Shell and AMG Sign Agreement to Build Catalyst Recycling Facility

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

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

Air Products to form $11.5bn JV

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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 more Air Products to form $11.5bn JV

Sabic to Invest in Methanol Plant in Russian Far East

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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 more Sabic to Invest in Methanol Plant in Russian Far East

Saudi Aramco Suspends 50% of Production following Drone Attacks

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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 more Saudi Aramco Suspends 50% of Production following Drone Attacks

Eni, ADNOC Close Partnership Agreements in Refining and Trading

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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 more Eni, ADNOC Close Partnership Agreements in Refining and Trading

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

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

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

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

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

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

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

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

EGA Starts Alumina Production at Al-Taweelah Refinery

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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 more EGA Starts Alumina Production at Al-Taweelah Refinery

Saudi Aramco to Acquire Majority Stake in SABIC

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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 more Saudi Aramco to Acquire Majority Stake in SABIC

Borealis and ADNOC Sign MOUs to develop Polyolefin Industry

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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 more Borealis and ADNOC Sign MOUs to develop Polyolefin Industry

SABIC Plans to Merge Two of its Fully-owned Subsidiaries

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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 more SABIC Plans to Merge Two of its Fully-owned Subsidiaries

ADNOC seals $4 billion pipeline deal with KKR, BlackRock

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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 more ADNOC seals $4 billion pipeline deal with KKR, BlackRock

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

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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 more Eni 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

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