Saudi state media announced Saturday that the kingdom will provide $400 million in humanitarian aid to Ukraine , following a Friday phone call between Crown Prince Mohammed bin Salman and Continue Reading
Saudi Arabia pushed other OPEC+ nations into an output cut last week, the White House claimed on Thursday, part of an escalating war of words between the two countries. “More Continue Reading
Saudi Arabia’s latest move to cut crude oil production, despite U.S. please not to do so, should not have surprised Washington, and yet it did The immediate impact on crude Continue Reading
U.S. Democratic Senator Bob Menendez, who is chairman of the U.S. Senate Foreign Relations Committee, blasted Saudi Arabia for leading the OPEC+ group into announcing a cut in oil production Continue Reading
U.S. President Joe Biden and Saudi Crown Prince Mohammed bin Salman attend an Arab summit, in Jeddah, Saudi Arabia, July 16, 2022. REUTERS/Evelyn Hockstein/File Photo WASHINGTON/LONDON, Oct 8 (Reuters) – Continue Reading
A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo SINGAPORE, Oct 10 (Reuters) – Saudi Aramco has told Continue Reading
The OPEC+ organization’s decision this week to cut oil production despite stiff U.S. opposition has further strained already tense relations between President Joe Biden’s White House and Saudi Arabia’s royal Continue Reading
Skyscrapers in Riyadh, Saudi Arabia. Photographer: Waseem Obaidi/Bloomberg Saudi Arabia is budgeting for Brent oil at around $76 a barrel next year, according to Al Rajhi Capital, an outlook in Continue Reading
Saudi Arabia’s Arabian Drilling Co. is looking for growth in the kingdom’s crude oil and natural gas production as the country will be “critical” to meet demand for hydrocarbons that Continue Reading
Saudi Arabia emerged as the second-biggest oil supplier to India after a three-month gap, overtaking Russia by a thin margin, while Iraq retained the top spot in August, data from Continue Reading
Saudi Arabia will supply the full contractual volumes to at least three customers in North Asia, sources familiar with refiners’ allocations from the world’s top crude oil exporter told Reuters Continue Reading
Saudi Arabia’s oil and gas giant Saudi Aramco could take a stake in French automaker Renault ’s (OTCPK: RNSDF) future thermal engine business after it separates it from its electric Continue Reading
OPEC Chief Sees Risk of Oil Squeeze on Scarce Spare Capacity Sign up for our Middle East newsletter and follow us @middleeast for news on the region. Saudi Arabian Energy Continue Reading
Saudi Arabia has promised as much as $14 billion in investments in Uzbekistan, with $12 billion earmarked to address ongoing energy shortages. Saudi firm ACWA Power is set to build Continue Reading
Saudi Arabia is snapping up U.S. stocks as the kingdom enjoys its strongest financial situation in years. DUBAI—Saudi Arabia’s sovereign-wealth fund has invested $7.5 billion in blue-chip American companies from Continue Reading
Saudi Aramco plans to raise its sustainable production capacity to 12.3 million b/d by 2025 as the world’s largest oil-exporting company accelerates plans to bring additional output to market to Continue Reading
State oil giant Saudi Aramco on Sunday reported its highest quarterly profit since the company went public in 2019, boosted by higher oil prices and refining margins. Aramco joins oil Continue Reading
OPEC leaders Saudi Arabia and the United Arab Emirates stand ready to deliver a “significant increase” in oil output should the world face a severe supply crisis this winter, sources Continue Reading
Saudi Arabia recorded a GDP growth rate of 11.8 percent for the second quarter, driven by a 23.1-percent rise in oil income, according to preliminary data cited by Reuters. The Continue Reading
Highlights Kingdom’s revenues from oil activities rise 23.1% Platts Analytics estimates fiscal breakeven of $69/b Output quota 11 mil b/d in August under OPEC+ deal OPEC kingpin Saudi Arabia has Continue Reading
As the OPEC+ group prepares to roll back all production cuts by the end of next month, analysts and the market are searching for the answer to the million-dollar question Continue Reading
Top oil exporter Saudi Arabia could raise September crude prices for customers in Asia for a third month even though refining margins have declined as high fuel prices and persistent Continue Reading
OPEC+ kingpin Saudi Arabia is expected to price its flagship crude to Asia at a record differential for September even as traders see the scope for a weaker spot market Continue Reading
Saudi Arabia currently generations more than 50 percent of its electricity from petroleum fuels. The Kingdom is looking to pivot to renewables and natural gas to free up oil for Continue Reading
Saudi Crown Prince Mohammed bin Salman shared the production capacity ceiling of his country at the GCC summit. Last year, Saudi Arabia said it expects to have boosted its oil Continue Reading
Russian fuel oil exports to Saudi Arabia rose almost twofold during the second quarter as the Saudis sought to free up more local crude for export while using the discount Continue Reading
Two industry sources question volume of spare Saudi capacity OPEC data shows decline in Saudi well completions in 2021 Saudi Arabia has been pumping below its OPEC quota Aramco says Continue Reading
For years, Saudi Arabia has made some pretty hefty claims about its oil potential. It is becoming increasingly clear, however, that the Kingdom may be stretching the truth a little Continue Reading
Saudi Arabian and Kuwaiti officials for the Neutral Zone — the oil-producing area that straddles the border between the two countries — met on July 3 to discuss ways to Continue Reading
Saudi Arabia, the world’s top oil exporter, raised August crude oil prices for Asian buyers to near-record levels amid tight supply and robust demand. The official selling price (OSP) for Continue Reading
The United States is calling on Saudi Arabia to increase oil production. Saudi Arabia has maintained its OPEC+ output agreement, refusing to ramp up production. The Kingdom is still maintaining Continue Reading
Top oil exporter Saudi Arabia may raise prices of light crude grades to Asia for the second straight month in August on the back of record distillate margins and strong Continue Reading
French President Emmanuel Macron said on Monday the president of the United Arab Emirates, Sheikh Mohammed bin Zayed al-Nahyan (MbZ), had told him two top OPEC oil producers, Saudi Arabia Continue Reading
Jizan adds 400,000 b/d to Saudi refining capacity Saudi petroleum products up 17% in 2021 Crude reserves remain largely flat Saudi Arabia’s refining capacity rose 13.7% in 2021, one of Continue Reading
Saudi Aramco’s Ras Tanura oil refinery and terminal. Many refineries operated by the world’s biggest oil company have been excluded from its disclosure of greenhouse emissions. Photographer: Simon Dawson/Bloomberg Before Continue Reading
Saudi Arabia will provide some Chinese buyers with less crude than they asked for next month, while fulfilling requests from many other customers in Asia after OPEC+ pledged to speed Continue Reading
‘An oil spill or leak would cost the world billions to clean up’. U.S. Secretary of State Antony J. Blinken has announced that the Department of State is working with Continue Reading
Saudi Arabia will ship lower-than-nominated crude oil volumes to some of its Chinese buyers next month. Many buyers in Asia have asked for more Saudi crude oil for July. This Continue Reading
Some observers expressed hope that a trip by President Biden to Saudi Arabia could spark more production and bring prices down. In reality, there is no quick fix to the Continue Reading
Saudi Aramco raises Asia-bound Arab Super Light by $2.75/b Oil market to remain tight for time being Crude oil futures edged higher in mid-morning trade in Asia June 6 after Continue Reading
Saudi Arabia, the world’s top oil exporter, raised July crude oil prices for Asian buyers to higher-than-expected levels amid concerns about tight supply and expectations of strong demand in summer. Continue Reading
After months of ignoring oil consumers’ calls to turn on the taps, OPEC+ has finally agreed to step up production targets. But the real winner of the deal appears to Continue Reading
President Biden, who as a candidate vowed to make Saudi Arabia a “pariah” in response to the assassination of a prominent dissident, has decided to travel to Riyadh this month to rebuild Continue Reading
Nearly 50 members of the U.S. House of Representatives introduced a resolution on Wednesday seeking to end any U.S. involvement in Saudi Arabia’s air campaign in Yemen, with plans to Continue Reading
In past oil booms, Saudi Arabia funneled financial windfalls into massive infrastructure and handouts for its citizens. This time around, it is sitting on the cash. With oil prices consistently Continue Reading
Saudi Arabia’s crude production rose to 10.3 million barrels a day in March. Sign up for our Middle East newsletter and follow us @middleeast for news on the region. Saudi Continue Reading
Iraq remains one of the most underdeveloped oil producers in the Middle East. EIA: Iraq holds a very conservatively estimated 145 billion barrels of proved crude oil reserves. At $2-3 Continue Reading
Saudi Arabia’s foreign minister said there’s nothing more the kingdom can do to tame oil markets. Saudi Arabia’s foreign minister said there’s nothing more the kingdom can do to tame Continue Reading
Highlights Saudi FM says oil market ‘relatively in balance’ Global refining capacity shrank in 2020, 2021: S&P Global OPEC+ under fire for maintaining production cuts The oil market “is relatively Continue Reading
Saudi Arabia has signalled it will stand by Russia as a member of the Opec+ group of oil producers despite tightening western sanctions on Moscow and a potential EU ban Continue Reading
