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Refinery News Roundup: New Refineries To Increase Middle East Product Sales Middle East oil product sales could reach 8 million-9 million b/d by 2023 as new refineries open up in the UAE, Saudi Arabia, Iraq and Oman, Glander International Bunkering senior sourcer Sean Burgin said. “This additional volume could boost business in Fujairah, complementing bunker demand plus storage and trade activities,” Burgin told the Petrospot Middle East Bunkering Convention held online Jan. 26. Refining capacity in the Middle East is continuing to grow at pace, with a number of new, export-oriented plant...

Share it Editor’s note: This story is part of a series on the trends that will shape the industry in 2021. You can find all the articles on our trendline. With a new year comes a new round of project completions, or at least project milestones. From airports to office buildings, the focus in 2021 will encompass a wide variety of construction undertakings as contractors fight to overcome the economic uncertainties brought on by the coronavirus pandemic. While many large American projects are on the radar, some contractors that work in the U.S. also have major jobs underway in other countries...

2 Min Read BASRA, Iraq (Reuters) -Iraq’s government has agreed to sign a $2.625 billion contract with South Korea’s Daewoo Engineering & Construction (047040.KS) to build the first phase of a giant commodities port in the south of the country, a port manager said on Wednesday. The long-planned and repeatedly delayed Grand Faw port is one of several projects that Iraq hopes will create a shorter transportation corridor between the Middle East and Europe, bypassing the Suez Canal. Under the contract, expected to be signed on Sunday, Daewoo E&C will handle construction works that include bui...

ISHM: December 24, 2020 - January 7, 2021 Format Key Takeaways: Kadhimi Says Government Ready For Showdown As Militias Issue Brazen Threats; Parliament To Discuss 2021 Budget On Saturday; Fatah Calls For Removing U.S. Forces – On December 25, PM Kadhimi warned “outlaw” militias that his government was “ready for a decisive confrontation if necessary” while stressing that he had called for de-escalation after a tense standoff in Baghdad. Kadhimi’s Defense Minister warned that a continuation of militia attacks on diplomatic missions could “lead the country into civil war.” On De...

Friday, 1 January, 2021 - 06:00 Iraq's director general at the General Company for Ports, Farhan al-Fartousi, signs a contract with South Korea's Daewoo Engineering & Construction, to construct the Grand Faw port, in Baghdad, Iraq, Dec. 30, 2020. (Reuters) Baghdad – Fadhel al-Nashmi Iraq’s signing on Wednesday of a $2.625 billion deal with South Korea’s Daewoo Engineering & Construction to build the first phase at its planned Faw commodities port has revealed a dispute between two Iraqi camps over which country should over...