The world’s largest oil company, Saudi Aramco, and Saudi Basic Industries (SABIC) have re-evaluated their $20 billion crude-oil-to-chemicals project with a view to integrating existing facilities instead.
The Ministry of Petroleum and Mineral Resources, Tarek El Molla, announced the connection of natural gas to Abu Al Numros area for the first time which including about 50,000 clients.
The world’s largest oil company, Saudi Aramco, is set to reorganize its downstream business and enhance integration across the hydrocarbon value chain in order to enhance financial performance and value creation.
The downstream sector has witnessed a 78% growth in Q3 2019/20, according to Minister of Planning and Economic Development Hala Al-Saeed.
Saudi Aramco has completed acquiring 17% stakes of South Korea's Hyundai Oilbank from Hyundai Heavy Industries Holdings, for approximately $1.2 billion.
The Abu Dhabi National Oil Company (ADNOC) signed a 10-year contract with Honeywell to drive improved asset and machinery management across the company’s upstream and downstream operations.
Saudi Arabia is planning to invest in downstream oil and gas projects in India as part of a strategic partnership between the two countries.
The Abu Dhabi National Oil Company (ADNOC) and Russia’s Gazprom Neft have entered into a strategic cooperation agreement for upstream and downstream.
ADNOC and Dutch chemical producer OCI could soon announce merging their fertilizer businesses in the Middle East.
The Ministry of Petroleum and Mineral Resources is studying the construction of a new refinery and petrochemicals complex in the Al-Alamein region with investments of about $8.5 billion.
