Sabic's first investment outside of Saudi Arabia
Oman enters 2023 on a high
International commitments to its expanding petchems and LNG industries are a huge boon
Muscat sealed deals with Riyadh and Tokyo critical to the future of its petrochemicals and LNG industries as 2022 drew to a close. The agreements are also crucial to the sultanate on a macroeconomic basis, as production from its relatively meagre and high-cost crude reserves is set to enter terminal decline. Expansion of the local petchems industry—initially with liquids feedstock due to a recent chronic gas shortage—has long been central to Muscat’s strategy to diversify exports and fiscal receipts away from crude and expand domestic manufacturing, creating urgently needed jobs. The state has pursued the goal with notable single-mindedness, paying for the construction of the largest project
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21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
