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
Saudi Arabia plans to keep oil production steady despite a recent slump in prices, fearing any bigger output cuts would lead rivals in Opec to increase supply. Five people briefed on Continue Reading
Saudi Arabia’s economic outlook for this year remains uncertain amid the pandemic-driven economic slowdown and the collapse in oil prices that led to the Kingdom slashing its oil production as Continue Reading
Saudi Arabia has scored the support of the International Atomic Energy Agency in its effort to adopt nuclear energy, Reuters reports , quoting a Saudi TV channel that cited the Continue Reading
Saudi Arabia has cut its official selling prices for crude oil in the latest sign that demand recovery is stumbling, Bloomberg reports , adding that this is the first time Continue Reading
Here are some of the past week’s most popular downstream-related articles on Rigzone. Less crude oil produced in Saudi Arabia appears to be reaching the United States, and the trend Continue Reading
A $500-billion smart city. A $200-billion solar farm. Billions of dollars in investments in gas and petrochemicals. These were all facets of Saudi Arabia’s Vision 2030—perhaps the most ambitious economic Continue Reading
Aramco’s staff, who have been working from home during the worst of the pandemic, have started returning to offices and work sites, Bloomberg reports , adding some 75 percent of Continue Reading
The first two quarters of the current year have been brutal to U.S. oil and gas companies. According to Refintiv data , the energy sector has recorded the lowest Q2 Continue Reading
In recent months, the world’s biggest oil exporter, Saudi Arabia, has lost market share in China to the United States as the world’s top oil importer has boosted imports from Continue Reading
Saudi Arabia’s net foreign assets rose slightly in July even as crude prices lingering below $50 a barrel kept the coffers of the world’s largest oil exporter under pressure. The Continue Reading
Saudi Aramco discovered two oil and gas fields in northern parts of Saudi Arabia, the kingdom’s official news agency reported, citing Energy Minister Prince Abdulaziz bin Salman. Gas has started Continue Reading
But now the parties are moving toward sealing and executing the component deals, which would mark a major rapprochement between Iraq and former Arab adversaries who clashed in the 1991 Continue Reading
Russia produced more crude oil than Saudi Arabia in June, beating it to the second place of the largest oil producers in the world, behind the number-one producer, the United Continue Reading
The OPEC+ group has as much as 2.31 million barrels per day (bpd) of oil production above the collective quota for May-July to offset in August and September, Reuters reported Continue Reading
Saudi Arabia’s crude oil exports plunged to the lowest on record in June and production fell to the lowest in 17 years as OPEC and its allies continued their campaign Continue Reading
Saudi Arabia redoubled its crusade for OPEC+ compliance Aug. 19, laying pressure on the alliance’s quota violators to make up for their excess crude production with deeper cuts in the Continue Reading
Global oil demand is set to recover to near pre-covid-19 levels by the end of this year, Saudi Arabia’s energy minister Prince Abdulaziz said today prior to the OPEC+ Joint Continue Reading
Saudi Arabia kept up the pressure on OPEC+ nations that have been exceeding their oil-output targets, hours before a meeting to discuss their agreement. King Salman bin Abdulaziz called Nigerian President Continue Reading
Saudi Arabia’s inflation quickened at the fastest pace since at least 2012 after the kingdom tripled its value-added tax. Consumer prices rose an annual 6.1% in July from 0.5% in June, Continue Reading
Saudi Arabia’s oil giant Aramco is considering additional cuts to its capital expenditure (capex) in order to be able to pay its massive dividends, the Financial Times reported on Wednesday, Continue Reading
Saudis staying home for vacation because of the COVID-19 pandemic are helping to boost demand for gasoline in Fujairah, where motor fuel exports jumped to a two-year high in July, Continue Reading
While the world is still awash with oil that it cannot quickly get rid of during a time of historic demand crumbling, the world’s largest oil company is looking to Continue Reading
The world’s biggest oil-producing and oil-exporting company, state oil giant Saudi Aramco, is optimistic about the pace of oil demand recovery in Asia, chief executive Amin Nasser said on Sunday, Continue Reading
Saudi Aramco, the world’s biggest oil company, is reducing its capital expenditure spend for 2020 due to the market conditions brought about by the COVID-19 pandemic, yet the company expects Continue Reading
Saudi Arabia’s state-controlled oil giant pressed ahead with a plan to pay $75 billion in dividends this year despite sliding profit and a surge in debt, as the kingdom battles Continue Reading
When it comes to America’s allies in the Middle East, Washington has long “looked the other way” while they recklessly pursue questionable weapons technology. Think Pakistan’s nuclear program at a Continue Reading
Several Asian refiners struggling with weakening demand will ask Saudi Arabia for less crude next month after the kingdom cut official selling prices by a smaller amount than the processors had Continue Reading
Saudi Arabia has constructed with Chinese help a facility for extracting uranium yellowcake from uranium ore, an advance in the oil-rich kingdom’s drive to master nuclear technology, according to Western Continue Reading
After three consecutive months of raising its crude oil prices, the world’s largest oil exporter, Saudi Arabia, is widely expected to make the first cut to its official selling prices Continue Reading
It is a time for market shakeups. On Friday, tech giant Apple unseated oil giant Saudi Aramco as the world’s most valuable company. Earlier in the week, the market saw Continue Reading
CAIRO (Reuters) – Saudi Arabia’s 84-year-old ruler, King Salman bin Abdulaziz left King Faisal hospital in Riyadh after recovery, the state news agency reported on Thursday. The Saudi king was Continue Reading
Saudi Arabia booked a deficit of $29 billion for the second quarter of the year because of the continued slump in oil prices and oil demand, which affected revenues. Reuters Continue Reading
Saudi Arabia may have little choice but to reduce the price of its oil as OPEC and allied producers start to ease output curbs amid weakening demand that’s crashed the Continue Reading
China’s crude oil imports from Saudi Arabia rose 15% in June from a year ago, as refiners ordered record volumes of the fuel in March and April when oil prices Continue Reading
Oil revenues for the world’s largest oil exporter, Saudi Arabia, continued to slide in May after the Kingdom ended its oil price war with Russia, with the income from oil Continue Reading
The world’s largest oil exporter, Saudi Arabia, plans to put up for privatization state-held assets in the healthcare, education, and water utility sectors in order to raise money while its Continue Reading
Saudi Arabia could use this summer record amounts of crude oil for producing electricity as more Saudis would stay at home rather than travel on vacation abroad because of the Continue Reading
Despite the recommendation of the OPEC+ JMMC to ease the oil output cuts by 2 million bbl/d, oil markets maintained their bullish sentiment over the past week as Brent was Continue Reading
Saudi Twitter users have sent thousands of tweets accusing the kingdom’s former crown prince and his long-time aide of corruption, in what two Saudi sources said was a campaign to Continue Reading
King Salman bin Abdulaziz of Saudi Arabia has been admitted to a hospital in Riyadh early Monday for medical tests, the second elderly ruler of an oil-rich Gulf Arab nation to Continue Reading
Oil market bulls are in for a surprise if we believe the latest statements from OPEC+ leaders Saudi Arabia and Russia. The official views proponed by the OPEC+ JMCC during Continue Reading
Saudi Arabia’s 84-year-old ruler, King Salman bin Abdulaziz, has been admitted to hospital in the capital Riyadh, suffering from inflammation of the gall bladder, state news agency SPA said on Continue Reading
Saudi Arabia’s crude oil exports plunged to a nine-year low in May as the historic OPEC+ cuts began, according to data released July 16 by the Joint Organisations Data Initiative. Continue Reading
Saudi Aramco, the world’s biggest oil exporter, has begun cutting hundreds of jobs as it looks to reduce costs after a slump in energy prices, according to people familiar with Continue Reading
