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
