Downstream Sector Grows by 78% in Q3 2019/20

• Thursday, 21st May 2020
• by Editorial Team

The downstream sector has witnessed a 78% growth in Q3 2019/20, according to Minister of Planning and Economic Development Hala Al-Saeed, the Cabinet reported. This was largely due to an agreement between the Egyptian...

Saudi Arabia, Nigeria Plan Cooperation in Oil, Gas

• Sunday, 28th April 2019
• by Editorial Team

Saudi Arabia and Nigeria plan to draft a memorandum of understanding (MoU) for an oil and gas partnership, according to the Nigerian Petroleum Ministry, Reuters reports. Despite being a top crude oil producer, Nigeria...

Aramco to Buy a $1.2 B Stake in Hyundai Oilbank

• Monday, 15th April 2019
• by Editorial Team

Saudi Aramco has agreed to purchase a . 2 billion stake in South Korean oil refiner Hyundai Oilbank, Reuters reported. Hyundai Heavy Industries Holdings signed a deal with Aramco for some of Oilbank’s shares. The deal...

Aramco Trading, PKN Orlen Ink Oil Supply Agreement

• Sunday, 14th April 2019
• by Editorial Team

Aramco Trading, a subsidiary of Saudi Aramco, has inked a supply oil agreement with PKN Orlen, Poland’s leading refiner, Gulf Business reported citing Reuters. Under the supply agreement, Aramco will supply the refine...

Kuwait’s Al Zour Oil Refinery to Operate by 2020

• Tuesday, 15th January 2019
• by Editorial Team

Kuwait’s Al Zour oil refinery is expected to start operations by 2020 with a refining capacity of 615,000 barrels per day (b/d), Zawya Reuters reported. Around 76% of the project was completed, according to a st...

Glencore, Carlyle Team to Buy Moroccan Refinery

• Wednesday, 17th May 2017
• by Dr. Mahinaz El-Baz

Swiss trading giant Glencore and U.S. private equity investor Carlyle Group have teamed up in an attempt to buy Morocco’s only oil refinery, hoping to recoup about $600m in loans they issued to the plant before ...

AMOC to Offer Shares on Stock Market

• Sunday, 12th February 2017
• by Dr. Mahinaz El-Baz

The Chairman of Egypt’s Alexandria Mineral Oils Company (AMOC), Amr Mostafa, said that  the company plans a secondary offering of 10-20% of its shares on the Cairo stock market and will also issue 10% a global deposit...

GNPC to Offload Crude at Tema Refinery

• Monday, 15th August 2016
• by Egypt Oil & Gas

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 fin...

Turkish Oil Refinary Posts $84.7 million Net Profit for this Quarter

• Wednesday, 4th March 2015
• by Egypt Oil & Gas

Turkish oil refiner Tupras, owned by Koc Holding, posted an 87% jump in fourth-quarter profit, helped by higher refining margins. Net profit was 213 million lira ($84.7 million) in the last three months of the year, c...