www.APICORP.org),
latest MENA energy investment outlook sees a modest USD13 bn rise in committed and planned energy investment compared to previous year’s outlook; Renewables claim a significant share of almost 40% the estimated USD250 bn in power sector investments; Committed Gas investments projected to fall by USD9.5 bn to USD75 billion after completion of several megaprojects in 2020; An evolution in regulations is needed for MENA region to realize its energy storage potential; Additional capacity – particularly from renewables – will make power trading a more commercially viable option in MENA; MENA can emerge as a major blue and green hydrogen-exporting region thanks to low-cost gas resources and strong renewable energy progress.
APICORP: Middle East and North Africa (MENA) energy investments to exceed USD805 bn over next five years
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Fuel oil premium hits record high in Fujairah ahead of big A/C power demand season
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Source: APICORP s MENA Energy Investment Outlook 2021-2025
Iran has been able to export crude and other products even as the US tightened sanctions targeting its oil sector sometimes in Iraqi waters, and marketed as Iraqi-origin, which led to Iraq s State Organization for the Marketing of Oil to issue at least three clarifications over the past six months on the specific floating storage vessels the company uses for its crude and fuel oil sales.
At an oil storage company in Fujairah, which typically sells an average of 30,000-40,000 mt of HSFO per month, sales have picked up to 40,000-50,000 mt/month in the past two months, a source said.
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