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Middle East

Industry Primer: What is OPEC+ and how does it impact oil prices?

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, are known as OPEC+ and will meet in Vienna, Austria, on Nov. 26 to discuss their joint output policy.

NPC to invest $4.2 B for new petchem projects to enhance self-sufficiency

Iran's National Petrochemical Company to invest $4.2 billion for self-sufficiency, focusing on propylene, methanol, ethylene, aromatics, and butylene production, targeting a capacity increase to 200 MMt in the next decade.

Nigeria gets refineries investment, forex pledge from Saudi Arabia

Nigeria and Saudi Arabia agreed to a series of investment and cooperation deals, including a pledge by the Saudi government to invest in the revamp of Nigeria's oil refineries and provide financial support to sustain the government's foreign-exchange reforms.

Global fossil fuel production plans far exceed climate targets, U.N. says

Global fossil fuel production in 2030 is set to be more than double the levels that are deemed consistent with meeting climate goals set under the 2015 Paris climate agreement, the United Nations and researchers said.

OMV in talks with ADNOC on chemicals business merger

OMV is actively in negotiations with the state-owned Abu Dhabi National Oil Company about a possible merger of their chemicals business.

First Emirates flights cleared for take-off with SAF from Dubai

The first Emirates flights operating with SAF provided by Shell Aviation have taken off from Dubai International Airport.

Iran's petrochemical ambition: aiming for 130 MMt annual production

Iran is aiming to create a formidable 130 MMt of annual petrochemical production capacity by the end of its 7th development plan.

Safir Petchem Project set to launch by the end of 2023

The Managing Director of the Persian Gulf Petrochemical Industries Company, Abdul Ali Ali Asgari, has announced that the "Safir Petrochemical Project" is on the verge of commencing its operations in the near future.

Aramco and ENOWA to develop first-of-its-kind e-fuel demonstration plant

Aramco and ENOWA have signed a joint development agreement to construct and establish a first-of-its-kind synthetic e-fuel demonstration plant.

Wizz Air wins 2nd consecutive CAPA Asia Aviation Summit award for SAF usage

For the second year in a row Wizz Air has been awarded the CAPA Global Environmental Sustainability Airline/Airline Group of the Year.