South Korea plans to boost imports of Iranian oil, in particular condensate, which is a super light oil that can be processed into fuels and petrochemicals, to meet country's growing demand.
Egypt will sign three concessional loan agreements with Japan and one with South Korea worth a total of $575m to finance projects in energy and transportation.
Kuwait's Petrochemicals Industries Company (PIC) has agreed to pay $100m to buy a 25% equity stake in a venture owned by South Korea's SK Gas Co Ltd and Saudi Advanced Petrochemical Co.
South Korea foresees an increase in oil products demand by 2 % in 2016, after a rise by 2.5 % on year in 2015, the country's state-run think tank, the Korea Energy Economics Institute (KEEI) announced this week.
"Asia is the center of gravity for oil and all the incremental demand will come from Asia. We are expecting to ship more than 50% of our products to Asia," said CEO of Siraf Refineries Infrastructure Company Alireza ...
South Korean conglomerate Doosan Heavy Industries and Construction Company has won a contract to supply steam turbines and generators for a new Independent Power Project (IPP),.
French-based Veolia Water Technologies has been awarded a contract to supply a zero liquid discharge evaporator and crystallizer for the Karbala Refinery Project in Iraq
Sabic announced it is undertaking a global transformation aimed at creating a more agile, cost-efficient, and customer-focused organisation that meets their needs more effectively
Iran's Deputy Energy Minister Alireza Daemi announced that the Iranian government will now allow foreign companies to export part of the electricity which they generate in the country