OPEC—as well as the entire energy industry—should be thanking Saudi Arabia for its “magnificent” job in managing their production during the Covid-19 pandemic, according to Robert Yawger, executive director of Continue Reading
Prince Abdulaziz bin Salman Abdulaziz bin Salman, the most powerful man in petroleum, navigates unruly OPEC+ nations, huge swings in price and production—and the end of fossil fuels. The Boeing Continue Reading
Saudi Aramco has suffered a data breach in which cyber attackers have stolen 1 terabyte of proprietary data of Saudi Arabia’s oil giant and are selling it on the dark Continue Reading
Saudi Arabia’s crude oil exports rose in May to 5.649 million barrels per day (bpd), their highest level in four months, Joint Organisations Data Initiative (JODI) said on its website Continue Reading
Saudi Arabia’s crown prince pledged five years ago to unshackle the economy from oil by 2020. But as the world’s top crude exporter seeks to maintain growth and generate jobs, Continue Reading
OPEC+ could take until August to decide whether to adjust production baselines, Arab News reported , citing JP Morgan analyst Christian Malek. According to Malek, the oil cartel could take Continue Reading
The transformation of Saudi Arabia’s flagship asset, Aramco, from perpetual cash-generation machine into a debt-laden giant is set to pick up pace in the coming weeks with a series of Continue Reading
Saudi Aramco has dropped Morgan Stanley (MS.N) as an adviser for the sale of its gas pipelines and picked JPMorgan (JPM.N) and Goldman Sachs (GS.N) for the role, three sources Continue Reading
The world’s largest oil company, Saudi Aramco , is planning to raise tens of billions of dollars by selling more stakes in its businesses. The Saudi Arabian state-controlled firm created Continue Reading
There’s a lot of buzz going around about green hydrogen. It’s virtually emissions-free, it burns hot enough to replace combustible fossil fuels, and when it combusts it leaves behind nothing Continue Reading
A long-delayed deal between Saudi Arabia’s flagship oil company, Saudi Aramco, and Indian conglomerate, Reliance Industries, looks closer to going ahead following the recent appointment of Aramco chairman, Yasir Al-Rumayyan, Continue Reading
While Saudi Arabia continues to develop its oil industry, it is not shying away from alternative energy options, with state-owned Aramco now heavily investing in hydrogen technology. Saudi Arabia still Continue Reading
Saudi Arabia plans to target international transit passenger traffic with its new national airline, going head-to-head with Gulf giants Emirates and Qatar Airways and opening up a new front in Continue Reading
Saudi Arabia plans to start a second national airline in an effort to turn the oil-rich kingdom into a transport hub and help diversify its economy. The strategy also includes Continue Reading
Highlights Preliminary deal called for Aramco to take 25% stake FID already expected to be delayed to 2022 Sempra’s efforts to finalize a long-term deal with Saudi Aramco to support Continue Reading
The value of Saudi Arabia’s oil exports in April climbed 109% to 51.7 billion riyals ($13.79 billion) from a year earlier while non-oil exports rose by 46.3%, official data showed Continue Reading
A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov DUBAI, June 23 (Reuters) – Saudi Arabian oil giant Aramco Continue Reading
For decades, the true numbers relating to Saudi Arabia’s level of crude oil reserves and production have been a subject of much debate and confusion, not helped by the obfuscation Continue Reading
U.S.-based EIG Global Energy Partners said on Friday a consortium it led has closed a deal to buy 49% of Saudi oil producer Aramco’s pipelines business for $12.4 billion. EIG Continue Reading
Saudi Arabia’s exports of crude oil in April were at their lowest since June 2020 as it continued to hold down production well below its OPEC quota, figures from the Continue Reading
A new supercycle in global oil prices could be triggered by a lack of new investments in exploration, Saudi Arabia’s energy minister said. Prince Abdulaziz bin Salman, who’s been warning Continue Reading
Energy Minister Prince Abdulaziz bin Salman Saudi Arabia’s cautious approach to reviving OPEC+ oil output has been proved correct, said Energy Minister Prince Abdulaziz bin Salman. After a year of Continue Reading
The relationship between the two great indigenous powers in the Middle East – Saudi Arabia and Iran – has become significantly more nuanced in the past few weeks than the Continue Reading
Saudi Aramco raised this week $6 billion via its first Islamic bond denominated in U.S. dollars, orders for which exceeded $60 billion, according to a document from one of the Continue Reading
Bond proceeds to be used for dividend payments Aramco Q1 production averaged 8.6 million b/d of crude oil Saudi Aramco has not yet embarked on work to expand its maximum Continue Reading
Saudi Arabian oil giant Aramco (2222.SE) locked in another $6 billion on Wednesday to help fund a large dividend as it returned to the international debt markets with its first Continue Reading
The debate about emissions reduction and the path forward for oil companies moved to a whole new level since the International Energy Agency (IEA) dropped last month the bombshell report Continue Reading
Saudi Arabia has lined up 15 banks to manage new multi-billion dollar bond offerings for its flagship oil and gas company, Aramco, according to a number of domestic and international Continue Reading
When Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman announced that Saudi Arabia was no longer an oil-producing country, he likely didn’t mean literally. “Saudi Arabia is no longer an Continue Reading
Saudi Arabia’s oil giant Aramco plans to raise around US$5 billion in a new bond sale as early as this month, as it looks to fund its massive annual dividend Continue Reading
General view of Saudi Aramco’s Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah Top oil exporter Saudi Arabia is expected to slightly increase Continue Reading
After over a year of pandemic-driven volatility and weak oil demand, Saudi Arabia is now experiencing an oil export boom. Saudi Arabia’s oil exports increased in March by 75 percent Continue Reading
The ten OPEC members bound by the OPEC+ production agreement have increased their collective crude oil exports by more than 1 million barrels per day (bpd) so far in May, Continue Reading
A number of peculiar things have happened in the Middle East in the past few weeks involving the U.S., Saudi Arabia, and the UAE, all with some sort of focus Continue Reading
Saudi Arabia kept its status as China’s top oil supplier in April, beating Russia for the eighth month in a row as the world’s largest oil buyer imported the lowest Continue Reading
Saudi Aramco workers. Photo Credit: Saudi Aramco By Faisal Faeq* Despite OPEC+ output reductions and the extra 1 million barrels per day (bpd) voluntarily cut by Saudi Arabia that lowered Continue Reading
Higher oil prices this year are helping Saudi Arabia to reduce its budget deficit which soared with the oil price collapse last year. But the Kingdom and its de facto Continue Reading
At a time when oil and gas investors have been celebrating the latest oil rally after OPEC+ pledged to maintain strict production discipline, not everybody is pleased with the direction Continue Reading
Saudi Arabia’s GDP shrank 3.3% in the first quarter due to lower oil production from a year-earlier period, as the biggest Arab economy suffers from adherence to OPEC+ cuts. Not Continue Reading
Saudi Arabia’s national oil company Aramco has again outperformed forecasts. The world’s largest oil company, and 2nd largest listed company, reported a free cash flow of $18.3 billion in Q1 Continue Reading
The world’s largest oil exporter, Saudi Arabia, could see its budget deficit drop to below 5 percent of gross domestic product (GDP) this year if oil prices average $60 per Continue Reading
Dubai — Saudi Arabia’s real oil GDP is projected to contract by 0.5% in 2021, compared with a contraction of 6.7% in 2020, given production levels agreed by the OPEC+ Continue Reading
Saudi Aramco’s profit soared in the first quarter following a recovery in global oil and gas markets, though free cash flow remained too low to fully cover dividend payments. The Continue Reading
The Saudi government is indeed in advanced talks with several Chinese entities – sovereign wealth funds and oil companies – to sell a 1 per cent stake in its flagship Continue Reading
Aramco’s downstream business consumes 43.8% of its crude production Total Q1 hydrocarbon production averages 11.5 million boe/d Q1 profit rises 30.3% on year to $21.72 billion Dubai — Saudi Aramco’s Continue Reading
Major Chinese investors, including the sovereign wealth fund China Investment Corporation (CIC) and Chinese national oil companies, are the ones looking to buy a stake at the biggest oil company Continue Reading
Crown Prince Mohammed bin Salman has said Saudi Arabia wants to resolve its differences with rival Iran, a marked shift in tone in the wake of the election of US Continue Reading
Saudi Arabia expects to benefit from a future drop in oil supply from major producers such as the US and Russia and pump more crude to cater to global demand Continue Reading
Aramco is considering the sale of a stake in its vast natural gas pipeline network to help free up cash and draw more international investors to Saudi Arabia, people familiar Continue Reading
Saudi Arabia could save some $200 billion over the next ten years by switching from crude oil to natural gas and renewables for electricity production, Reuters reports , citing the Continue Reading
