Reliance Industries (RELI.NS) and Saudi Aramco (2222.SE) have called off a deal for the state oil giant to buy a stake in the oil-to-chemicals business of the Indian conglomerate due Continue Reading
Saudi Arabia held its position as the biggest supplier of crude oil to China for an 11th month in a row in October, with volumes up 19.5% from a year Continue Reading
Saudi Arabia’s Crown Prince has unveiled another element of the NEOM megaproject, a floating industrial complex dubbed Oxagon NEOM: Oxagon presents a radical new model for future manufacturing centers Oxagon Continue Reading
“Everybody is predicting a surplus of supply starting from the first or second quarter,” next year, Russian Deputy Energy Minister Pavel Sorokin told Bloomberg on the sidelines of this week’s Continue Reading
Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, lashed out at Greenpeace for spreading “lies” and “fabrications” about the Kingdom’s policy towards climate change. The spat ignited during the COP26 Continue Reading
The tightest of smiles on his face and the fabric of his traditional thobe swirling about him as he strides through a hallway at U.N. climate talks, Saudi Arabia’s energy Continue Reading
Saudi Arabia reported economic growth of 6.8 percent on the year for the third quarter on the back of higher oil prices. This is the highest quarterly growth for the Continue Reading
Spare capacity in the oil market will shrink significantly next year as travel rebounds and amid a lack of investment among producers, according to Saudi Aramco . Surplus supplies are Continue Reading
The U.S. has been fighting a rearguard action against Iran cementing its influence in Iraq for almost two decades Aramco, is in talks with Iraq’s various ministries for billions of Continue Reading
Highlights Saudi Arabia concerned about climate change: king Kingdom and allies in OPEC+ under pressure to boost supply US official says OPEC+ ramping up output very slowly Saudi king Salman Continue Reading
Saudi Arabia recorded its first quarterly budget surplus in more than two years as higher crude prices boosted the kingdom’s finances. The Gulf nation’s surplus during the third quarter was Continue Reading
Saudi Aramco said oil-output capacity across the world is dropping quickly and companies need to invest more in production. It’s a “huge concern,” Chief Executive Officer Amin Nasser said in Continue Reading
Saudi Arabia said it would use one of the world’s biggest natural-gas projects to make blue hydrogen, as the kingdom steps up efforts to export a fuel seen as crucial Continue Reading
Saudi Arabia’s crown prince said on Saturday that the world’s top oil exporter aims to reach zero-net emissions by 2060 and will more than double its annual target to reduce Continue Reading
Even if OPEC+ were to boost oil supply to the market, as major consuming nations have called for, it wouldn’t have much difference on the global natural gas market, Saudi Continue Reading
Last week’s meeting between Russia and Saudi Arabia to deepen cooperation in energy and other sectors shows that Moscow is serious about splitting Riyadh away from its long-time ally, the Continue Reading
Last week, Saudi Aramco’s chief executive officer, Amin Nasser, said that the company expects to boost its oil production capacity to 13 million barrels per day (bpd) by 2027. The Continue Reading
Shares in the utility closed down 8.4 percent at 66.7 riyals ($17.78) on Tuesday. ACWA Power International slumped as much as 10% on its second day as a listed company, Continue Reading
Saudi Aramco (2222.SE) has asked banks to arrange a loan expected to be in the $12 billion-14 billion range that it plans to offer to buyers of its gas pipeline Continue Reading
Saudi Arabia is finally recovering from a disastrous year in 2020, with its oil revenues surpassing pre-pandemic levels A major focus for Saudi Arabia going forward is to retain its Continue Reading
Saudi Arabia booked its highest-ever quarterly foreign direct investment (FDI) in the second quarter, thanks to a large oil pipeline infrastructure deal that state oil giant Aramco closed in the Continue Reading
Saudi Arabia’s oil revenues are flowing in at the highest rate in three years Saudi Arabia is already close to pre-pandemic production levels of 9.8 million barrels daily, and oil Continue Reading
Saudi Arabia, the world’s biggest oil exporter, kept its ranking as China’s top crude supplier for a ninth straight month in August as major producers relaxed production cuts. Saudi oil Continue Reading
Saudi Arabia’s crude oil exports rose to above 6 million barrels per day (bpd) in July, to the highest volume in six months, as the OPEC+ alliance continued to ease Continue Reading
Saudi Arabia’s state-owned oil giant Aramco may soon open up a massive upstream asset to foreign investment. It would be a rare move for OPEC’s top oil producer and the Continue Reading
The strategic relationship between the House of Saud and the US Administration is worsening by the day, as shown by repeated unexpected changes in president Biden’s approach to the Kingdom Continue Reading
Saudi Arabia, the world’s top oil exporter, slashed prices of all crude grades to Asian customers in October versus September, but left prices to northwestern Europe and the United States Continue Reading
Business activity in Saudi Arabia last month grew at the weakest pace in 10 months as lower export demand weighed on the kingdom’s non-oil economy. A Purchasing Managers’ Index compiled Continue Reading
When Crown Prince Mohammed bin Salman announced Saudi Arabia’s “green initiative” this year he did so with the type of eye-catching pledge that has come to characterize the young royal’s Continue Reading
The value of Saudi Arabia’s oil exports in June increased 123% to 61.5 billion riyals ($16.4 billion) from a year earlier while non-oil exports rose by around 41%, official data Continue Reading
Saudi Arabia’s crude oil exports hit a five-month high in June at nearly 6 million barrels per day (bpd) as the world’s top oil exporter, and the entire OPEC+ group Continue Reading
Highlights Direct crude burn at nine-month high Refined product exports highest since May 2020 Kingdom unwinding extra output cuts Saudi Arabia’s exports of crude oil in June rose to a Continue Reading
Saudi Aramco is looking to raise at least $17bn from the sale of a significant minority stake in its gas pipelines, sources told Reuters today. A sale that large for Continue Reading
Saudi Aramco is in advanced talks for an all-stock deal to acquire a stake in Reliance Industries Ltd. ’s oil refining and chemicals business, people with knowledge of the matter Continue Reading
Aramco sees profits up nearly 300 percent as Sadia Arabia experiences a dramatic rebound from last year’s pandemic-hit oil demand. Thanks to prices that have increased by 30 percent since the Continue Reading
Saudi Aramco is scouting for other potential deals to offer to investors and unlock capital, Chief Executive Amin Nasser said on Monday after the oil giant in June closed a Continue Reading
Reuters Saudi Arabian energy giant Aramco has seen its profits jump almost four times boosted by a rise in oil prices as demand recovers. The company added that the easing Continue Reading
Saudi Aramco plans to have 550,000 barrels per day (bpd) more in oil production capacity by 2025 when the expansion projects on two major oilfields are complete, Saudi Arabia’s state-owned Continue Reading
Saudi Aramco will have to raise its already massive annual dividend of $75 billion if it wants to remain competitive with other oil giants and raise its dividend yield to Continue Reading
In May, the Saudi government barred the use of loudspeakers to amplify prayers and sermons at mosques and ordered that the volume of the traditional call to prayer, which has Continue Reading
Saudi Aramco and other Gulf oil producers are following in the footsteps of Abu Dhabi with plans to raise tens of billions of dollars through sales of stakes in energy Continue Reading
Higher oil prices and higher exports resulted in a 147-percent jump in the value of Saudi Arabia’s oil exports in May 2021 compared to May 2020, data from the Kingdom’s Continue Reading
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
