The plant is estimated to have a processing capacity of 1 billion standard cubic feet per day of sour gas.
SABIC’s net income for the three months to June 30 was 6.04 billion Saudi riyals compared with 5.3 billion riyals in the same period last year.
Sooner or later OPEC members will have to reduce output to reflect their reduced share of the global oil market.
GCC petrochemical players must capture the next wave of growth by analysing the value chain and tapping into unconventional sources.
The offer came just days after ADGAS, partly owned by ADNOC, offered 25,000 tonnes of naphtha for loading from Das Island.
High prices on Europe-destined sour crude coupled with weak demand for sour crude in Asia has opened a price gap over the last month.
Nakilat made a net profit of 182.4 million riyals in the three months to June 30, compared to 204.1 million riyals in Q2 last year.
Kuwait last week joined other oil-producing Gulf states in pledging a massive aid package worth $12 billion to Egypt.
The UK group bought Topaz Oil and Gas to expand its growth in the Middle East.
RWE said in March it was planning to offload DEA to slash capital spending and cut its multi-billion euro debts.
Aramco signed deals worth an estimated $6 billion for the 400,000 barrels per day refinery project in November.
GAC acquisition gives flight to EGA’s ambition in becoming a key player in global aluminium production and paves way for significant global and regional expansion
Patrick Allman-Ward currently works as the general manager for Dana Gas Egypt.
The Mena region’s approach to alternative energy infrastructure is fragmented and needs work to foster new technology.
The country plans to explore new gas fields and increase gas output.
LNG shipper Maran Nakilat will use the proceeds to expand its LNG carrier fleet.
The Begonia-1 discovery well produced 9.4 million cubic feet per day of gas and 133 barrels of condensate during initial test drilling.
Sri Lanka returned a 40,000-tonnes diesel cargo shipment from ENOC on Thursday saying it was “not up to the required specifications”.
Solar power is supercharging the alternative energy industry, but can the Middle East become a leading global provider?
The oil and gas sector generated over half of Qatar’s gross domestic product (GDP) in 2012.
The acquisition allowed Gulftainer to assume full management of three Saudi terminals, located in Jeddah and Jubail.
BP has already spent hundreds of millions of dollars on the project since winning the concession in 2007.
The Bahrain-based investment firm is buying a stake in Al Yusr Industrial Contracting Co from two members of its controlling family.
The 6MW Port Victoria Wind Farm is expected to power 2,100 homes in the island country.
The petrochemical complex, located at Jubail Industrial City, will be the world’s largest chemical complex ever built in a single phase.
Renewable power is helping the Kingdom meet its voracious domestic energy appetite.
The new duty comes after the European Union removed the Gulf states from its generalised scheme of preferences.
The facility at Fujairah is expected to have an annual import capacity of nine million tons of LNG.
OPEC’s own production rose by 106,000 bpd in May to 30.57 million bpd led by higher output in Saudi Arabia.
Two refiners in India have asked for additional cargoes to make up for a loss of supplies from Iran, say sources.