National Oil Companies (NOCs) are diversifying beyond their upstream oil and gas core, with major NOCs forecast to spend more than US$116bn in new petrochemicals projects, according to GlobalData, a data and analytics company
Petrochemicals will surpass cars, trucks and aviation in future oil demand growth, according to a study by the International Energy Agency (IEA)
ADNOC LNG, a subsidiary of the Abu Dhabi National Oil Company (ADNOC), has signed an engineering, procurement and construction (EPC) contract for the second phase of the integrated gas development expansion (IGD-E) project with a consortium of Spains Tecnicas Reunidas and Abu Dhabi’s Target Engineering Construction Company
Oman and Iran will drive the majority of the growth in the oil storage industry in the Middle East between 2018 and 2022, contributing more oil storage capacity than any other country in the region, according to leading data and analytics company GlobalData
Brent crude oil will end 2018 above US$75 a barrel, the highest year-end price in four years, according to 59 per cent of 200 energy industry executives polled by the GIQ
