Page 21 - DMEA Week 21 2020

DMEA
NEWS IN BRIEF
DMEA
Egypt to invest $1.2bn in petchems
Egypt aims to invest $1.2bn in 11 new petrochemicals projects under a new 2020- 2035 strategy, the company’s petroleum minister Tarek El-Mulla said on May 25.
El-Mulla remarked that a new 2020- 2035 strategy was set to develop the petrochemical industry in Egypt, and will go into effect in the coming period after being reviewed.
The minister stated that the strategy aims to raise the added value of petrochemical activities in the country, meet the local demand for intermediate and final petrochemical products, and improve the national trade balance.
At the same time, the petrochemical projects, aiming to increase local production, include the refining and petrochemicals complex in the Suez Canal Economic Zone with investments of $7.5bn and a production capacity of 202mn tonnes annually.
To set up the project, agreements were signed with the US-based Bechtel Group, EXIM Bank and the US International Development Finance Corporation (DFC).
The other petrochemical projects include the $8.5bn petrochemical complex project in New Alamein with a production of million tonnes per year of petrochemicals and 850,000 tonnes of petroleum products.
Meanwhile, the ministry is studying
the construction of two new projects in Damietta, including the $400mn polyacetal project with a production of 50,000 tonnes per year.
Iran’s Tabriz Petrochemical
Company posts 15%
production gain
Iran’s Tabriz Petrochemical Company (TPC) has recorded a 15% y/y gain in production in the Persian calendar month of Ordibehesht
(April 20-May 20), NIPNA reported on May
26.
During the month, the plant reportedly
produced 72,049 tonnes of petrochemical products, up from 67,508 tonnes in the previous Persian month.
The company receives naphtha feedstock from the state-owned Tabriz refinery that serves the northwest of Iran and exports products to neighbouring countries including Turkey and Armenia. TPC products include polyethylene, polystyrene and acrylonitrile- butadiene-styrene (ABS).
The company noted the production increase was attained despite disruption in Iran caused by the country’s severe coronavirus (COVID-19) outbreak.
Kuwait’s KNPC exports first Al Ahmadi Refinery petcoke
Kuwait National Petroleum Company (KNPC) has exported the first shipment of quality petroleum coke (petcoke or coke) from Mina Al Ahmadi Refinery, reported state news agency KUNA.
The shipment of 15 metric tons of coke was carried by the vessel Pola Elizaveta from Shuaiba Seaport, it stated.
This is the first production of the environment fuel unit at the 37,000 barrels per day (bpd) Al Ahmadi refinery which went operational early last month, it added.
UAE announces gasoline prices for June
Motorists across the UAE will continue to make the most of low fuel prices as UAE Fuel Price Committee announced fuel prices for June 2020 on May 28.
Price of Super 98 petrol will remain unchanged at Dh1.91 per litre, while price for Special 95 is also the same at Dh1.80 per litre. Diesel price stands at Dh2.06 a litre.
Travel restrictions in recent months have meant that roads across the UAE have been
mostly deserted except for delivery vehicles and essential workers commuting to work. However, Dubai among other emirates
have reopened - this week - with strict precautionary measures, which also saw rush hour return to Dubai-Sharjah routes on May 27.
Angolan police seize fuel bound for DRC
Soyo: National Police guard in Angola’s northern Zaire province arrested Wednesday five citizens of Democratic Republic of the Congo (DRC) for an attempt to smuggle about 11,000 liters of fuel to their country.
The offenders were trying to transshipping the product to a craft vessel bound for the DRC, according to the police communiqué that has reached Angop.
The seizure took place in Santo António river channel, as part of an operation conducted by the staff of the 2nd Border Guard Police Unit in Soyo.
The fuel (gasoline and diesel) was forwarded to the General Tax Administration (AGT), while the detainees are kept in police custody.
Soyo shares a river (Zaire river) and maritime border with the Central Congo region and Democratic Republic of Congo.
Week 21 28•May•2020
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