Middle East
Oman Shell launched the 25-megawatt Qabas solar plant
Oman Shell launched the 25-megawatt Qabas solar plant, helping the port and freezone in Sohar to become more sustainable and demonstrating the commercial benefits of solar power for industrial purposes. Owned by Shell, Sohar Solar Qabas is the company’s first utility scale, photovoltaic (PV) solar project in the Middle East and in Oman.
UAE leads the way in solar power in the Middle East
The United Arab Emirates (UAE) is pushing ahead with its transition to alternative fuels. According to a report from Deloitte the key drivers for the growth of the UAE solar sector are large scale government sponsored solar energy projects and a strong sovereign credit rating offering low risk for Independent Power Producers (IPPs) with Power Purchase Agreements (PPAs). This is evident in the scale of projects that have already been completed or under construction
UAE Energy Minister believes oil demand could recover by the end of 2021
According to recent reports, United Arab Emirates Energy Minister Suhail al-Mazrouei has commented on a potentially updated timeline for a return to form for global oil demand. He believes that global demand will make a somewhat optimistic return to pre-pandemic level by the end of 2021 or early 2022.
TAQA Announces Financial Closing for the World’s Largest Solar Power Plant
Abu Dhabi National Energy Company (TAQA) – alongside partners Masdar, EDF Renewables and JinkoPower – announced, today, the successful financial closing of the Al Dhafra Solar Photovoltaic (PV) Independent Power Producer (IPP) project.
Greece extends its import influence
DESFA, the operator of the Greece natural gas transmission system, has been awarded the operation and maintenance services of Kuwait’s newest LNG import terminal. The 11.5m t/y Al Zour LNG import terminal, currently under construction for 2021 will have eight storage tanks with a capacity of 225,00..
Dow and the Al-Hejailan Group Announce Joint Venture for Saudi Arabia
The Al-Hejailan Group of Saudia Arabia and Dow of the United States recently announced that it will form a joint venture for the design, construction, and eventual operation of a polyacrylic acid (PAA) and emulsion polymers plant to be placed in Saudi Arabia’s Plaschem Park. This joint venture will be headed up by Al-Hejailan with 75% ownership with Dow holding the remaining 25%.
Support for wind's growth
The International Energy Agency (IEA) report, Renewables 2020 released on 10 November 2020, proclaims that renewable power is defying the Covid crisis with record growth this year and next. It goes on to say that renewables will account for almost 90% of the increase in total power capacity worldwide in 2020 and will accelerate in 2021 to their fastest growth in the last six years. Wind and solar additions are set to jump by 30% in both the United States and China as developers rush to take advantage of expiring incentives.
Oman’s Duqm petrochemical project postponed for now
The Duqm Refinery and Petrochemicals Industries Company (DRPIC) of Oman stated recently that the petrochemical portion of its Duqm Refinery and Petrochemical Complex has paused its progress. The COVID-19 effect on the company’s economics has been called the likely reason for this postponement.
Crude Oil to Chemicals technology: a revolution for the petrochemicals industry
Refiners are looking to integrate petrochemical activity into their production in a big way. Crude-oil-to-chemicals (COTC) projects will be a powerful tool for refiners looking to maximize chemical production through increasingly efficient technology expected to consistently improve in chemical yields from the crude feedstock.
Electricity’s new king will be solar PV
The latest World Energy Outlook published in October from the International Energy Agency (IEA) suggests that solar photovoltaic generation will be the largest source of power by 2040. Unlike other sectors during the Covid-19 pandemic the renewable electricity market has remained buoyant throughout 2020. The IEA suggests that renewables is set for rapid growth. In the Stated Policies Scenario (STEPS), renewables will rise by two-thirds between 2020 to 2030.
SABIC and Saudi Aramco are reevaluating their plans for the upcoming Yanbu COTC project
SABIC recently announced that it was reevaluating and likely expanding its vision for the crude oil-to-chemicals (COTC) project in Yanbu, Saudi Arabia with the integration of existing infrastructure.
How to utilize solar potential
In an age where traditional methods of energy generation, such as burning coal and gas to generate electricity emit greenhouse gases, the energy transition movement has seen the need to investigate alternative or renewable energies. Wind and solar seem to be favored forms of alternative energies to be scaled up first.
Global Project Data update for October 2020
Although the gas processing and LNG industries took a major hit during the COVID-19 pandemic, new project announcements within the sector have increased for two straight months
Middle East: Saudi Arabia eyes major growth in petrochemicals market
Saudi Arabia aims to become a major player in the global petrochemicals market within the next several years, with plans to increase domestic and foreign production and expand its exports.
Petrochemicals: Growth, challenges, advancements and the technologies shaping an industry
Over the past decade, capital investments in new petrochemical capacity have skyrocketed. Hundreds of billions of dollars have been invested in capacity expansions, upgrades and grassroots facilities, and the industry is not done yet.
Business Trends: The downstream dilemma: Past, present and future of downstream energy
The oil industry’s interest in the downstream segment of the business has known ups and downs. This article reviews the past, present and projected future of the downstream sector and its companies.
Industry Perspectives: Petrochemicals surge despite possible future roadblocks
Over the past several years, investments in petrochemicals capacity additions have skyrocketed. Hundreds of billions of dollars have and will be invested in additional petrochemicals units and complexes.
Business Trends: Global LNG projects to compete with pipeline gas
Expanding LNG supply worldwide will continue to dominate the changing landscape of the natural gas industry and gas trade. By 2040, LNG is expected to account for more than 15% of global gas consumption, after overtaking interregional pipeline deliveries in the late 2020s.
Business Trends: Application of blockchain technology in the petrochemical industry
A JV between Equatorial Guinea’s Ministry of Mines and Hydrocarbons and Marathon Oil plans to build a modular refinery on Bioko Island. In late April, the JV signed a contract to VFuels to conduct a feasibility study for the 5,000-bpd facility. The project involves dismantling a methanol plant and converting it into a refinery. If built, the facility—part of Equatorial Guinea’s Year of Investment 2020 initiative—would provide refined products to satisfy increasing domestic demand.
Offshore wind continues strong growth, bolstered by new floating projects
As spending on renewable energy, particularly offshore wind, accelerates, floating projects will make up a growing share of activity.
Financing secured for Phase 5 of Mohammed bin Rashid Al Maktoum Solar Park
Financing secured for Phase 5 of Mohammed bin Rashid Al Maktoum Solar Park On 4 October 2020, the Arab Petroleum Investments Corporation (APICORP), multilateral development financial institution, signed an agreement with Shuaa Energy 3 P.S.C sponsored by Dubai Electricity and Water Authority (“DEWA..
A quiet year for LNG
A quiet year for LNG 2020 has been a quiet year for the global LNG industry, certainly as far as project development is concerned. The Covid-19 global pandemic has had a negative effect across the whole industry, from plants to shipyards. If 2019 was business as usual for the booming LNG industry,..
2020 AFPM Summit: Five trends to watch as coronavirus reshapes the global olefins industry
The coronavirus outbreak is having a transformational effect on global olefins. Supply, demand, trade, pricing, costs and margins are all being affected to the extent that it will undoubtedly reshape the wider industry.
Calculating petroleum quantities in the 21st century
Over the past 100 yr, a number of technological advances and process improvements have dramatically changed how the oil and gas industry finds, produces and refines petroleum. The industry has made vast improvements in physical property databases, calculation procedures, and the determination of density and petroleum quantities by incorporating advances in modern processing technologies and updating measurement standards.
Global announcements and developments July
The industry's most comprehensive list of current and recent rounds for onshore and offshore licences
Oil firms ready to pick up the infrastructure divestment pace
Pipelines, storage facilities and processing plants could replace non-advantaged production as prime candidates Oil and gas producing firms create the most value by exploring for, developing and producing hydrocarbons. Internal rates of return (IRRs) far in excess of 20pc are the norm for successful upstream projects.
Global announcements and developments June
The industry's most comprehensive list of current and recent rounds for onshore and offshore licences
Maintenance: How to conduct successful turnaround maintenance at refineries
PricewaterhouseCoopers reports that, since 2014, the oil and gas industry has put off noncritical spending to reduce costs.1 In 2016, for example, the average number of backlogged labor hours for corrective and deferred safety-critical maintenance increased by 25%.1 While deferring maintenance saves resources initially, such delays lead to unsafe equipment and reduced output due to sub-par equipment.
LNG: Intercontinental to inter-regional?
Price differentials are threatening the economics underlying global LNG arbitrage. But the lower prices may unlock competition within regions It was all going rather well for efficient global LNG trade. The associated gas boom that accompanied the US shale oil revolution drove Henry Hub prices to bargain-basement levels just at a time when the country was developing its first wave of liquefaction and export capacity, most of it linked to those Louisiana prices.
Licensing rounds announcements and developments
The industry's most comprehensive list of current and recent rounds for onshore and offshore licenses
