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
Saudi Arabia is expected to see its oil revenues surge by 66 percent this year to around $249 billion on the back of higher oil prices and rising oil production Continue Reading
Saudi Arabia is on track to lift oil production capacity by more than 1 million barrels per day to over 13 million barrels bpd by the end of 2026 or Continue Reading
State-owned oil producer Saudi Aramco on Sunday reported an almost 82% rise in first-quarter net profit, broadly in line with analyst forecasts, helped by strong oil prices. Aramco, which is Continue Reading
Prince Abdulaziz bin Salman: “The world is running out of energy capacity at all levels,”. Saudis see underinvestment in refining capacity as on of the reasons for soaring fuel prices. Continue Reading
Ministers warn that energy investment at crisis levels No current shortage in the oil market, Mazrouei says OPEC+ blamed unfairly for high prices, Prince Abdulaziz says Targeted by so-called NOPEC Continue Reading
Saudi Arabia will extend an oil loan facility to Pakistan and is considering rolling over dollar deposits as the South Asian nation looks to rein in one of Asia’s highest Continue Reading
Rival regional powers Iran and Saudi Arabia resumed talks in the Iraqi capital after they were suspended in March, Iran’s semi-official Nour News reported on Saturday. There was no confirmation Continue Reading
Saudi Crown Prince Mohammed bin Salman, wearing shorts at his seaside palace, sought a relaxed tone for his first meeting with President Biden’s national security adviser, Jake Sullivan, last September. The Continue Reading
The IMF is targeting 7.6% growth for the Saudi economy this year, raising its forecast by 2.8%. The increase in oil production and export revenues fuel the Saudi economy. High Continue Reading
Saudi Arabia exported nearly 13% less oil to China in March than a year earlier but retained its top supplier spot, while shipments from second-ranking Russia slipped 14%, Reuters’ calculations Continue Reading
A decision driven by Saudi Arabia that OPEC+ should stop using oil data from the West’s energy watchdog reflected concern about U.S. influence on the figures, sources close to the Continue Reading
Oil supply unaffected despite increased attacks Saudi Arabia has said it is no longer responsible for any shortages in oil supply because of attacks on its facilities. An S&P Global Continue Reading
The jump in Saudi Arabia’s crude oil prices for its Asian customers is a real world example of how the Russian invasion of Ukraine is starting to force a realignment Continue Reading
Saudi Aramco, is looking at several further opportunities to expand its downstream dealings with China. The new downstream projects with Sinopec follow this year’s earlier series of meetings in Beijing Continue Reading
Some of the largest Gulf oil producers, including Saudi Arabia and the United Arab Emirates, are seeking to sign a written treaty with the United States under which the U.S. Continue Reading
The move follows a series of drone and rocket attacks by Houthi Rebels against Saudi Arabia in the past week. The Saudi-led Coalition has announced a military operation to neutralize Continue Reading
A Saudi-led coalition fighting Houthi rebels in Yemen launched airstrikes against sites in the southern Arabian country in response to multiple attacks Friday, including one that caused a fire at Continue Reading
Dorra/Arash gas field discovered in 1962 Field is partly in Neutral Zone shared by Saudis, Kuwait Iran open to talks with Kuwait, Saudis Iran is set to develop its part Continue Reading
The U.S. condemns the Houthi attacks over the weekend. U.S. National Security Advisor Jake Sullivan has announced that the U.S. condemns the Houthi attacks over the weekend against civilian infrastructure Continue Reading
Yemen’s Iran-aligned Houthi group fired missiles and drones at Saudi energy and water desalination facilities, causing a temporary drop in output at a refinery but no casualties, the Saudi energy Continue Reading
Highlights Refinery produces diesel, gasoline, butane Attacks also targeted other cities Houthi missile, drone attacks remain major Gulf oil security risk Saudi Arabia’s energy ministry on March 20 said the Continue Reading
Highlights Average oil output steady at 9.2 mil b/d Capex was $31.9 bil in 2021 ‘Economic conditions have improved’: CEO Saudi Aramco, the world’s largest oil company, said March 20 Continue Reading
The state-backed group, which had reported earnings of $49bn a year earlier, said the 124 per cent increase was driven by “higher crude oil prices, stronger refining and chemicals margins Continue Reading
Saudi Arabia’s new personal data protection law would discourage foreign investment in the world’s top crude exporter which looks to diversify from oil with tech and digital hubs, the U.S. Continue Reading
West pressing Saudi to use capacity to pump more oil Saudi, UAE still sticking to OPEC+ oil deal with Russia Riyadh threatens to shift some oil sales away from dollar Continue Reading
Foxconn 2317 -1.46% Technology Group, the biggest assembler of Apple Inc. iPhones, is in talks with Saudi Arabia about jointly building a $9 billion multipurpose facility that could make microchips, electric-vehicle components and other electronics Continue Reading
Enemy bullets ripped overhead. A barefoot Yemeni soldier who calls himself Fouad the Brave grabbed a rifle and returned fire from behind a sand berm, taking aim at Iran-backed Houthi Continue Reading
Saudi Arabia put to death 81 people who had been convicted of crimes including murders, rape, arms smuggling and links to terrorist groups, in the largest known mass execution in Continue Reading
Saudi Crown Prince Mohammed bin Salman has reaffirmed his country’s commitment to the OPEC+ agreement with Russia. The Kingdom has not made a move to bring extra crude onto the Continue Reading
Saudi Crown Prince Mohammed bin Salman is seen during the Emirates Formula One Grand Prix at the Yas Marina racetrack in Abu Dhabi, United Arab Emirates November 25, 2018. Bandar Continue Reading
As oil prices reach seven-a-half-year highs, a number of countries in the Middle East have unveiled fiscal measures designed to balance their budgets after two years of pandemic-related spending. Saudi Continue Reading
Highlights MBS discusses Ukraine crisis’ energy impact in call with France’s Macron Saudi Arabia keen to maintain stable, balanced oil market, MBS says OPEC ministers have said no need to Continue Reading
Saudi Arabia has a stark warning about the dangers of underinvesting in oil. The world’s top oil exporter is cautioning that the underinvestment in oil and gas could spark a Continue Reading
Saudi Arabia raised oil prices for its main market of Asia after crude’s surge to almost $95 a barrel. State firm Saudi Aramco increased pricing for all grades for Asian Continue Reading
Saudi Arabia has restarted plans to list more shares of Aramco, the world’s most valuable oil company, according to people familiar with the company’s strategy, with an ambition to sell Continue Reading
Saudi Arabia’s exports soared in October as the world’s biggest oil exporter benefited from higher crude prices. The value of exports jumped to 106.2 billion riyals ($28 billion) from 55.9 Continue Reading
A banner advertises plans for a greener and more sustainable city. The crown prince’s next grand plan is to defy the skeptics and turn Riyadh into a greener, cooler city Continue Reading
Saudi Arabia’s energy minister warned traders against shorting oil prices. Saudi Arabia’s energy minister warned traders against shorting oil, saying OPEC+ could react quickly to any fall in prices. OPEC+, Continue Reading
Saudi minister says FDI up 33% in first six months of 2021 Investment remains below earlier targets Riyadh raises stakes with more ambitious investment goals Lack of major FDI announcements Continue Reading
Saudi Arabia expects to book its first budget surplus in close to ten years in the next financial year, coming in at 2.5 percent of gross domestic product or $24 Continue Reading
Saudi Arabia said global oil production could drop 30% by the end of the decade due to falling investment in fossil fuels. “We’re heading toward a phase that could be Continue Reading
Highlights 2022 revenues forecast at $279 billion, up 12% on year Al-Rajhi Capital calculates fiscal breakeven price of $65/b Kingdom says it seeks to gradually boost crude production Saudi Arabia Continue Reading
Highlights Neutral Zone could be needed source of incremental supply Wafra, Khafji fields face technical challenges due to shutdown 2021 exports have ranged from 158,000 to 257,000 b/d: Kpler Saudi Continue Reading
The first major contracts for Saudi Arabia’s Jafurah field were awarded last week The Kingdom aims to become the third-largest natural gas producer in the world by 2030 Saudi Arabia Continue Reading
The Iran-aligned Houthi movement in Yemen targeted on Tuesday oil infrastructure and military compounds in Saudi Arabia with drones and ballistic missiles, the movement said today on its broadcast channel Continue Reading
Saudi Aramco said on Monday it has signed a $15.5 billion lease-and-leaseback deal for its gas pipeline network with a consortium led by BlackRock Real Assets and state-backed Hassana Investment Continue Reading
The chief executive of Saudi Aramco, the world’s largest oil producer, has called on global leaders to continue investing in fossil fuels in the years ahead or run the risk Continue Reading
Transition is amid pressure for less new E&P investment ‘No way near ready to carry big load’: Nasser But energy transition promises higher E&P returns Even as climate change initiatives Continue Reading
The deals comprise 16 subsurface and engineering, procurement and construction contracts. The Saudi Arabian Oil Company has announced that it has awarded contracts worth $10 billion for the Jafurah unconventional Continue Reading
