Saudi Arabia’s Crown Prince and Prime Minister Mohammed bin Salman, has launched four new Special Economic Zones in the kingdom, which are expected to create “tens of thousands of jobs, and contribute billions of riyals” to GDP. The new Saudi zones will be focused on key growth sectors, which includes advanced manufacturing, cloud computing, medical […]
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Oman’s $7 billion Duqm refinery begins trial operations
Oman’s massive Duqm refinery, the most significant project in the refining and petrochemical industries sector, has started operations of the crude oil distillation unit, which indicates operational readiness for all the units of the refinery. The refinery has a capacity of 230,000 barrels per day, with its design based on a hydrocracking unit and a […]
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Revealed: 5 largest oilfields in the Middle East
The Middle East is home to some of the largest and economical oilfields in the world. The world’s largest oil field, Saudi Arabia’s Ghawar Field, for instance, produces around 4 million barrels of oil per day, accounting for well over one-thirds of Saudi Arabia’s total production. Here is a list of the top five oil […]
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Shell CEO plans to ‘thrive in partnership’ with Middle East governments
Wael Sawan created history when he took office as Shell’s first CEO of Middle East origin earlier this year. And he wants to leverage his affiliation with the region to strengthen relationships with the Middle East nations. “My vision here is one of continued investment,” Sawan told Oil & Gas Middle East in an exclusive […]
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Oil prices rise after OPEC shocks market with output cut announcement
Oil prices spiked on Monday after OPEC+ announced they would cut production by about 1.16 million barrels per day — a surprise move, which could trigger global inflation. Brent crude, the global benchmark, jumped 4.8% to $83.73 a barrel, while WTI, the US benchmark, rose 4.9% to $79.36. On Sunday, Saudi Arabia announced that it […]
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Oman’s $7 billion Duqm Refinery to begin operations by year end
Oman’s Duqm Refinery project, one of the largest refining and petrochemicals project, is expected to come into full production by the end of 2023, Kuwait Petroleum Corp’s deputy chairman and CEO, Nawaf al Sabah said, speaking on the sidelines of CERAWeek energy conference in Houston, Texas. The refinery project, occupying 900 hectares, is located at […]
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Oil & Gas Middle East Awards 2023: Meet the winners and the highly commended!
The 2023 edition of the Oil & Gas Middle East Awards ended on an excellent note on the evening of March 2 at the Grosvenor House in Dubai. The event celebrated a total of 14 winners across upstream, midstream and downstream sectors, and individual categories who took home the beautiful crystal trophies loud and proud. […]
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Top 5 oil and gas contracts in the Middle East: February 2023
In case you missed the announcements, here is a list of the top five contracts secured for oil and gas projects in the region
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Aramco to supply full crude contract volumes to Asia refiners in March
Saudi Aramco has told at least four customers in North Asia they will receive full contract volumes of crude oil in March, Reuters reported on Friday, citing several sources with knowledge of the matter. Saudi Arabia, the world’s top oil exporter, unexpectedly raised the official selling prices for its flagship Arab Light in March amid […]
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Oil & Gas Middle East Awards 2023: Shortlist revealed for all categories
The Oil & Gas Middle East Awards 2023 will be held on March 2 at the Grosvenor House, Dubai