Brooge Energy Limited, a midstream oil storage and Service provider in the United Arab Emirates (UAE), has announced its intention to invest up to $325 million in the Nordic bond market.
Saudi Arabia plans to increase the capacity of the East-West Pipeline by 40% within two years in order to avoid exporting oil through the Strait of Hormuz.
An unspecified incident took place in the Gulf of Oman and has reportedly affected two oil tankers.
State oil giant Saudi Aramco and petrochemicals company Saudi Basic Industries Corp (SABIC) will build a new integrated industrial petrochemicals complex in the port city of Yanbu on the Red Sea coast.
An upgrade to Saudi Aramco’s Yanbu South Terminal (YST) has added 3 million barrels per day (b/d) to the export capacity of the Red Sea facility.
Abu Dhabi National Oil Company (ADNOC) is constructing a crude oil storage facility under the Fujairah mountains in the UAE.
Iran is planning to move its primary export terminal from the Arabian Gulf to the Gulf of Oman to avoid using the strategic Strait of Hormuz, President Hassan Rouhani stated in a televised speech on September 4.
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