Petrochemicals

Unstable demand impedes refining projects

Persistent volatility in demand, fluctuating construction costs and some other factors are obstructing refining projects in the Arab region despite their importance in economic diversification, according to an official study.

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Region to invest more in energy projects

The UAE and four other Arab oil producers are planning to pump nearly US$470 billion into projects to expand their hydrocarbon output capacity to meet domestic and external demand, their oil group said recently.

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Chinese agree MOU for Egypt refinery

Two state-owned Chinese oil companies have signed a memorandum of understanding (MoU) with Egypt about investing US$2 billion in the construction of a 300,000-b/d refinery in the country, Reuters reported recently. Rongsheng Petrochemical Co. and CNPC would develop the refinery under a 25-year build-own-operate-transfer (BOOT) contract, eyeing a possible doubling of the plant's capacity after the first phase has come onstream.

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Oilfield services provider continues to expand

AlMansoori Specialized Engineering is a leading regional provider of oilfield services in the Middle East. Established in the UAE in 1977, the company now has over 1,300 employees working in 19 countries providing a variety of oilfield services and producing specialised products for the oil and gas industry.

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A sustained show of strength in uncertain times

ALL OF THE region’s main oil producers have been actively rolling out diversified energy and petrochemicals capacity for some time.

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