Russia and Saudi Arabia have put forward a proposal to increase production by OPEC and non-OPEC countries by 1.5 million barrels per day, Ecuador’s oil minister said on Monday. Carlos Continue Reading
Saudi Aramco, the world’s largest oil producer, agreed to supply Egyptian refineries with crude oil for another six months from July, Egypt’s Petroleum Minister Tarek El Molla said on Tuesday. Continue Reading
Russia and Saudi Arabia have agreed to extend their oil partnership indefinitely, with the agreement stipulating that they could move to regulate oil production at any moment, TASS reports, quoting Continue Reading
There is absolutely no doubt that the next Opec ministerial meeting this week will pit Saudi Arabia and its Gulf allies against Iraq, Iran and Venezuela, three founder members of Continue Reading
Saudi Arabia plans to host a leaders’ oil summit later this year for OPEC and non-OPEC countries participating in a supply cut pact, two sources familiar with the matter said Continue Reading
It is “inevitable” that OPEC and partners will agree next week to gradually roll back some of the production cuts that have been in place since January 2017, Saudi Arabia’s Continue Reading
Even if the current OPEC/NOPEC oil production cut deal goes to pieces, Saudi Arabia and Russia will be willing to go it alone, the two largest oil producers in the Continue Reading
Saudi Aramco plans to boost investments in refining and petrochemicals to secure new markets for its crude, and sees growth in chemicals as central to its downstream strategy to lessen Continue Reading
OPEC pumped more oil last month driven by higher output from Saudi Arabia , the cartel’s de facto leader, which has for more than a year led a coalition of Continue Reading
Saudi oil giant Aramco will be heavily investing in increasing its refining capacity and chemicals business in pursuit of securing more downstream markets for its crude oil, Aramco’s Senior vice Continue Reading
