- QatarEnergy selects Nakilat to own and operate 25 conventional LNG vessels
- The joint development of the Dorra field between Saudi Arabia and Kuwait is pending the demarcation of the border with Iran
- Minister of Energy reaffirms the UAE’s commitment to adopting clean energy and supporting the Paris Agreement
- The new Hassi Messaoud refinery enjoys the support of the government and President Tebboune
- Increasing electrical interconnection capacities to export electricity beyond borders
- Qatar Energy stops sending liquefied gas tankers through the Red Sea for security reasons
- The inauguration of the Duqm Refinery, the largest joint Gulf project in the refinery sector
- Saudi oil exports are faltering due to Houthi attacks on ships in the Red Sea and Gulf of Aden
- Algeria to host and chair the Gas Exporting Countries Forum summit (February 29 to March 2, 2024)
- Egypt Energy Conference and Exhibition 2024 gives a strong impetus to the global energy dialogue
Aramco lays foundation stone for SAR 26.3 bln Shaheen project in South Korea
Officials during laying the foundation stone of Shaheen Petrochemical project
Saudi Arabian Oil Co. (Saudi Aramco) laid the foundation stone of Shaheen petrochemical project in Ulsan, South Korea, at a total value of SAR 26.25 billion ($7 billion).
Shaheen is Aramco’s biggest investment in Korea to date and is expected to be one of the largest integrated steam crackers in the world.
It is also the first major commercial deployment of Aramco’s thermal crude to chemicals technology, which was developed in collaboration with Lummus Technology, the company said in a statement.
The project, which was announced in November 2022, is being developed by Aramco’s affiliate S-OIL and is a key part of Aramco’s regional crude-to-chemicals strategy, the statement added.
Amin Nasser, Aramco President & CEO, said that Shaheen is among Aramco’s biggest international downstream investments, representing a significant and sizeable step forward in its liquids-to-chemicals expansion and another major milestone in further strengthening the company’s presence in Korea.
In November 2022, Saudi Aramco announced its biggest ever investment in South Korea to develop one of the world’s largest refinery-integrated petrochemical steam crackers through its S-OIL affiliate, Argaam reported earlier.
Source: Argaam
