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Saudi Port Authority to Establish $533 Million Fuel Center at Yanbu Port

Yanbu Industrial Port - SPA
Yanbu Industrial Port - SPA
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Saudi Port Authority to Establish $533 Million Fuel Center at Yanbu Port

Yanbu Industrial Port - SPA
Yanbu Industrial Port - SPA

The Saudi Port Authority (MAWANI) has announced plans to establish a 2 billion riyals ($533 million) center to supply ships with fuel at Yanbu Industrial Port . This initiative is in line with the Saudi Ministry of Energy's efforts to increase the Kingdom's share of fuel supply for ships transiting through its waters to 10 million tons.

The establishment of this center also aligns with MAWANI's strategic goals of expanding the number of logistic zones to 30 by 2030. By doing so, it aims to reinforce the Kingdom's position as a global logistics center connecting Asia, Africa, and Europe.

Spanning an expansive area of 393,000 sq. meters, the upcoming center will facilitate the storage, trading, and mixing of various petroleum materials. Its primary objective is to enhance the efficiency and effectiveness of fuel supply operations for ships operating within Saudi Arabian ports.

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Iraq Signs Contract to Construct Offshore Crude Export Pipeline With 2.4 Million Bpd Capacity

Iraqi Oil Minister Hayyan Abdul Ghani witnesses the signing of a deal to establish a subsea oil pipeline for exports via its southern ports (INA) 
Iraqi Oil Minister Hayyan Abdul Ghani witnesses the signing of a deal to establish a subsea oil pipeline for exports via its southern ports (INA) 
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Iraq Signs Contract to Construct Offshore Crude Export Pipeline With 2.4 Million Bpd Capacity

Iraqi Oil Minister Hayyan Abdul Ghani witnesses the signing of a deal to establish a subsea oil pipeline for exports via its southern ports (INA) 
Iraqi Oil Minister Hayyan Abdul Ghani witnesses the signing of a deal to establish a subsea oil pipeline for exports via its southern ports (INA) 

The Iraqi Oil Ministry said on Sunday that Baghdad has signed a deal to establish a subsea oil pipeline for exports via its southern ports.

The project is in cooperation with Italian offshore contractor Micoperi and Türkiye’s Esta for a pipeline with capacity of 2.4 million barrels per day (bpd), the ministry said without providing further detail on the destination of the exports.

“The state-owned Basra Oil Company signed a contract on Sunday to implement the third offshore export pipeline project with a consortium of the Italian company MICOPERI and the Turkish company ESTA, with a design capacity estimated at 2.4 million barrels per day,” said the Iraqi news agency quoting a statement by the Ministry.

The statement said it is “an important strategic project and is part of the government's program. It aims to ensure flexibility and stability for crude oil export operations from the southern ports”.

The Ministry also explained that the project’s flexibility lies in the ability to export crude oil from three ports: Basra Port, Khor al-Amaya Port, and the floating platform.