The United Kingdom has had troops deployed in Saudi Arabia to protect its oilfields from attacks since February this year, The News reported this week, a local newspaper in Portsmouth Continue Reading
A historic meeting between Israel’s prime minister and Saudi Arabia’s crown prince has sent a strong signal to allies and enemies alike that the two countries remain deeply committed to Continue Reading
Saudi Arabia has used its year in the G20 presidency to promote its circular carbon economy scheme, which it says will lower carbon emissions if adopted worldwide, while maintaining abundant Continue Reading
An oil tanker was damaged in the Red Sea near Saudi Arabia after a mine exploded on Wednesday, the Associated Press reported , citing the tanker’s operator and a maritime Continue Reading
The United Nations Security Council should “stop the threat” of more Houthi attacks on Saudi energy infrastructure, the Saudi ambassador to the UN said in a letter to the governing Continue Reading
Saudi Aramco needed about 40 minutes to put out the fire caused by a missile strike on a fuel depot in the Red Sea city of Jeddah, with evidence pointing Continue Reading
The initial public offering (IPO) of Saudi Aramco that was heralded by Crown Prince Mohammed bin Salman (MbS) as being a showcase flotation for raising massive new capital for the Continue Reading
After weeks of speculation over how the new Biden Administration will approach U.S. relations in the Arab Gulf, the first real hurdles for a new JCPOA Iran agreement are already Continue Reading
OPEC kingpin Saudi Arabia is likely to continue exporting oil at the same levels “for decades to come,” even as the world hastens the shift towards renewables, its former energy Continue Reading
Yemen’s Iran-backed Houthi rebels said they attacked a Saudi Aramco distribution station in the western city of Jeddah, according to a statement made by its spokesperson on Twitter Nov. 23. Continue Reading
When Saudi Arabia, the world’s top oil exporter and a leading U.S. ally, took over the G20 presidency in December 2019, hopes in the kingdom were high. “Family Photo” for Continue Reading
Saudi Aramco returned to the debt markets for the first time since April of last year, selling $8 billion of bonds to help fund the world’s biggest dividend. The state oil Continue Reading
Saudi Aramco kicked off a jumbo bond sale Tuesday to help fund a $75 billion dividend, returning to the debt markets for the first time since April of last year. The Continue Reading
Saudi Aramco, the world’s biggest oil company, is set to return to the bond markets for the first time since April of last year as it seeks to fund a Continue Reading
Saudi Arabia has thwarted a planned attack with explosives against an oil products terminal near the border with Yemen, the Kingdom said early on Friday, adding that the attempted attack Continue Reading
The oil price collapse is depriving Saudi Arabia of US$27.5 billion in oil revenues this year, Saudi Crown Prince Mohammed bin Salman said on Friday, admitting that the current oil Continue Reading
Saudi Crown Prince Mohammed bin Salman said economic reforms he championed had saved the kingdom from even greater austerity as revenue plunged this year, as he released a rare statement Continue Reading
OPEC+ could change the terms of its oil production cut deal if the members of the pact agree to do it, Saudi Energy Minister Abdulaziz bin Salman said today as Continue Reading
Saudi Arabia’s economy contracted for a fifth straight quarter but the slump eased, according to estimates released on Tuesday by the statistics authority. Gross domestic product shrank 4.2%, still battered by Continue Reading
By reporting a 44.6% decrease in profits in Q3 2020, Aramco has put a major damper on Saudi Arabia’s economic diversification strategies and overall stability. Saudi Aramco reported that its Continue Reading
Saudi Aramco left its third-quarter dividend unchanged at $18.75 billion even as it failed to generate enough cash to cover the payout and reported a 45% drop in profit. The world’s Continue Reading
Saudi Aramco failed to generate enough cash to cover its dividend, yet left the payout unchanged at $18.75 billion for the third quarter even as profit fell 45% and debt Continue Reading
The worst of the oil market is behind us, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said on Monday at CERAWeek’s India Energy Forum. “We are still vigilant. I Continue Reading
Getting rid of oil and gas is “far-fetched and unrealistic,” Saudi Energy Minister, Prince Abdulaziz bin Salman, said on Monday, adding that companies and governments should be thinking about how Continue Reading
The Islamic State has called on its members to start targeting Saudi Arabia oil infrastructure as punishment for the Kingdom warming up to Israel. “Targets are plenty…Start by hitting and Continue Reading
Saudi Arabia’s crown prince enjoyed a near free pass under his personal relationship with U.S. President Donald Trump, but the kingdom’s brazen young leader will have to tread more carefully Continue Reading
Nine months on from Saudi Arabia’s second major oil price war in the last five years, more negative consequences are manifesting themselves. Aside from the irrevocably damaged core relationship with Continue Reading
Saudi Aramco and Saudi Basic Industries Corporation (SABIC) have decided to reevaluate their crude-oil-to-chemicals project in Yanbu on the kingdom’s west coast, according to an Oct. 18 statement on the Continue Reading
Saudi Aramco and Saudi Basic Industries Corp. will re-evaluate a planned $20 billion crude-to-chemicals plant as they seek to cut spending and as the oil company tries to preserve its Continue Reading
Aramco expects oil demand to rebound to pre-pandemic levels by 2022 while supply tightens, creating a deficit, the chief executive of the Saudi state energy giant told Energy Intelligence. China Continue Reading
The ongoing weakness of global oil markets seems to be stoking tensions within OPEC+, and a split within its leadership is now imminent. From the start of this year’s Moscow-Riyadh Continue Reading
Saudi Arabia’s oil giant Aramco is in early talks to potentially structure a deal worth more than US$10 billion to sell a part of its pipeline business to asset managers, Continue Reading
Attacks on Saudi Aramco’s giant Abqaiq crude processing plant last September threatened a heart attack moment for the global oil market and the kingdom’s cherished reputation as a reliable supplier. Continue Reading
The massive US$75-billion annual dividend of Saudi Aramco cannot fund the widening budget gap of Saudi Arabia if oil prices remain low beyond 2021, Moody’s said in a report this Continue Reading
Saudi Arabia is mulling over canceling a planned relaxation of OPEC oil production cuts due to enter into effect next January, the Wall Street Journal reported , citing senior oil Continue Reading
An abundance of fossil fuels combined with advances in technology to harness wind and solar power has sent energy prices crashing around the world. WSJ explains how it all happened Continue Reading
The world’s largest oil company, state-held Saudi Aramco, is looking to withstand the crisis created by the worst oil demand crash in history— by doubling down on oil . Saudi Continue Reading
Saudi Arabia’s state oil giant Aramco doesn’t fear peak oil demand as it doubles down on boosting oil production in the long term to beat its competitors, many of which Continue Reading
Oil markets might be looking up, if Saudi’s official oil selling price actions are any indication—and they usually are. Saudi Arabia has raised the official selling price of its Arab Continue Reading
Saudi Arabia appears to be more upbeat about the immediate future of oil prices than fundamentals warrant, according to Goldman Sachs analysts. These have calculated that the Saudi budget plan Continue Reading
If Democrats win the White House and US Senate in the November elections, US-Saudi relations would likely fray, creating reverberations across the global oil market, Washington-based energy analysts predict. Receive Continue Reading
Saudi Arabia’s Finance Ministry is budgeting for oil prices to be around $50 a barrel for the next three years, according to a Goldman Sachs Group Inc. analysis of the Continue Reading
Saudi Arabia’s economy contracted 7% year on year in the second quarter as the world’s largest crude exporter was hit hard by the demand destruction caused by the coronavirus pandemic, Continue Reading
OPEC’s 60 th birthday should have been reason for celebration, but its largest producer Saudi Arabia is increasingly putting its own interests before the cartel’s objectives and has put the Continue Reading
An argument is raging behind palace doors in Saudi Arabia: Now that the United Arab Emirates and Bahrain have forged ties with Israel , should the kingdom follow suit? Saudi Continue Reading
The Saudi energy minister gave a forceful condemnation of cartel members that try to get away with pumping too much crude. (Bloomberg) — Saudi Arabia showed its determination to stop Continue Reading
Saudi Arabia, the world’s largest oil exporter, saw its crude oil exports rise to 5.734 million barrels per day (bpd) in July, up from a historic low of below 5 Continue Reading
Saudi Arabia’s oil giant Aramco reclaimed the spot of the world’s most valuable company after a relatively steady performance in Riyadh so far this month, while shares in Apple plunged Continue Reading
The historic diplomatic deal between Israel and the United Arab Emirates that was announced on August 13 added yet another layer of difficulty to the geopolitical relations in the Middle Continue Reading
It was evident to anyone with even half a brain that the last Saudi-instigated oil price war would end in abject failure for the Saudis , just as the previous Continue Reading
