The downstream sector has witnessed a 78% growth in Q3 2019/20, according to Minister of Planning and Economic Development Hala Al-Saeed.

Saudi Arabia and Nigeria plan to draft an agreement for an oil and gas partnership.

Saudi Aramco has agreed to purchase $1.2 billion stake in South Korean oil refiner Hyundai Oilbank.

Under the supply agreement, Aramco will supply the refinery with its Arabian crude oil in exchange for a similar volume of high sulfur fuel oil from the refiner.

Al Zour oil refinery is expected to start operations by 2020 with a capacity of 615,000 barrels per day (b/d).

Swiss trading giant Glencore and U.S. private equity investor Carlyle Group have teamed up in an attempt to save bankrupt in Morocco's only oil refinery.

AMOC plans a secondary offering of 10-20% of its shares on the Cairo stock market and will also issue 10% a global depository receipts in London.

Ghana National Petroleum Corporation (GNPC) CEO, Alex Mould, has declared that the corporation is willing to offload crude oil to the Tema Oil Refinery (TOR) if the company is competent at supplying the sufficient financial guarantees.

Turkish oil refiner Tupras, owned by Koc Holding, posted an 87% jump in fourth-quarter profit, helped by higher refining margins.