Investors led by EIG Global Energy Partners LLC agreed to acquire a roughly $12.4 billion stake in a Saudi Aramco oil-pipeline rights company. The group will acquire a 49% equity stake in Aramco Oil Continue Reading
A match has been going on in global oil, which has stayed largely out of the spotlight as the world focuses on the pandemic and its effect on demand. The Continue Reading
The construction site for a new highway and metro development in Riyadh, Saudi Arabia, May 19, 2020. Sign up for our coming Middle East newsletter and follow us @middleeast for Continue Reading
Saudi Arabia raised prices for oil shipments to customers in its main market of Asia, signaling the kingdom’s confidence in the region’s economic recovery. The decision comes after the OPEC+ Continue Reading
Aramco could pay less than the originally planned $73.5 billion to its Saudi state shareholder in order to prioritize investments, Crown Prince Mohammed said earlier this week, opening the door Continue Reading
India continues its efforts to shake off its oil dependence on OPEC’s decisions by asking its state refiners to review what it sees as contracts “loaded against the buyer” with Continue Reading
Saudi Aramco’s profits fell by nearly 50% in 2020 as the pandemic battered oil markets and an oil price war between Russia and Saudi Arabia sent oil prices to record Continue Reading
Saudi Arabia is reportedly ready to extend current OPEC+ production cuts over May and June and also keep cutting 1 million bpd in oil output unilaterally, according to an unnamed Continue Reading
Saudi Arabia’s Crown Prince Mohammed bin Salman Saudi Arabia’s crown prince laid out a 27 trillion riyal ($7.2 trillion) domestic spending and investment plan that relies heavily on commitments from Continue Reading
Despite a 44 percent drop in its 2020 profits, the Saudi Arabian government has instructed majority-state-owned Saudi Aramco to stick to the US$75 billion per year dividend payout for shareholders Continue Reading
Move comes after renewed calls from US lawmakers for Saudi Arabia to lift its air and sea blockade UN data shows food imports through ports of Hodeidah and Saleef dropped Continue Reading
The Saudi-led coalition battling Houthi forces in Yemen said on Thursday it had intercepted and destroyed several explosive-laden drones aimed at Saudi Arabia, state TV reported. The coalition said the Continue Reading
A Saudi Aramco petroleum product distribution terminal in Jazan, near the border with Yemen, was hit by a projectile March 25, causing a fire in a storage tank, the Saudi Continue Reading
Last year, Saudi Arabia’s national oil company Saudi Aramco sent shockwaves through the natural gas markets after it announced that it was kicking off the biggest shale gas development outside Continue Reading
Saudi Aramco is in no hurry to expand its oil production capacity to 13 million bpd as it said it would last year just as the pandemic was beginning to Continue Reading
Saudi Arabia unveiled a proposal for a cease-fire aimed at disentangling itself from Yemen’s civil war, as rebel forces press an offensive and the Biden administration seeks to extricate the U.S. Continue Reading
Saudi Arabia has proposed a ceasefire deal to end the fighting in Yemen’s six-year conflict that would include Riyadh lifting its blockade on rebel-controlled ports in the war-torn country. The initiative Continue Reading
Saudi Aramco, the world’s largest oil company, reported a 44% reduction in revenues in 2020. These losses were largely caused by COVID-demand destruction and lower oil prices. Saudi Arabia’s national Continue Reading
Highlights Capacity gains to 13 mil b/d will be incremental Neutral Zone shared with Kuwait producing 120,000 b/d Aramco will ‘skip’ LNG, focus on developing hydrogen Dubai — Saudi Aramco Continue Reading
After the first oil price war launched by the Saudis against the then-nascent U.S. shale sector in 2014, Washington took the view that the Kingdom had broken the core 1945 Continue Reading
Saudi Arabian state oil giant Aramco is betting on an Asian-led rebound in energy demand this year after it reported a steep slide in net profit for 2020 on Sunday Continue Reading
Saudi Aramco will ensure China’s energy security remains its highest priority for the next 50 years and beyond as new and existing energy sources run in parallel for some time, Continue Reading
Saudi Aramco plans to “expand and intensify” cooperation with China on research in areas including hydrogen and ammonia production from natural gas, according to Chief Executive Officer Amin Nasser. Aramco is Continue Reading
Saudi Arabia’s state-backed oil giant Aramco announced Sunday that its profits nearly halved in 2020 to $49 billion, a big drop that came as the coronavirus pandemic roiled global energy Continue Reading
The oil giant Saudi Aramco has announced that its profits fell sharply last year as lockdowns around the world curbed demand for oil. Earnings in 2020 fell by nearly 45% Continue Reading
The world’s largest oil exporter, Saudi Arabia, increased its crude oil exports to 6.582 million barrels per day (bpd) in January 2021, up from 6.495 million bpd in December 2020, Continue Reading
Saudi Arabia’s energy ministry said it had contained a fire following a March 19 drone attack on its Riyadh refinery, with no interruption to oil supplies and no casualties, in Continue Reading
Having already slashed its capex budget and delayed several projects, Saudi Aramco will release its full-year 2020 results on March 21, with market watchers aiming for greater insight on how Continue Reading
Saudi Arabia plans to reduce domestic consumption of liquid hydrocarbons by 1 million b/d for use “in a better way”, the kingdom’s Energy Minister Prince Abdulaziz bin Salman said on Continue Reading
India boosted significantly crude oil imports from the United States in February, while it slashed purchases from the world’s top oil exporter, Saudi Arabia, to the point of America overtaking Continue Reading
As highlighted in OilPrice.com just after the last major attack on Saudi Arabian oil facilities on 14 September 2019, there are many positive aspects from Iran’s perspective in pursuing such Continue Reading
The battlefield in Yemen is getting more volatile with each passing day. On March 10th, the Saudi-led coalition released a video claiming to have destroyed an Ansar Allah air defense Continue Reading
Saudi Arabia’s crude oil exports fell just slightly in February, in stark contrast to the bold voluntary production cuts that the Kingdom had offered to make, according to PetroLogistics and Continue Reading
Crude exports from Saudi Arabia’s oil terminals at Ras Tanura were proceeding normally on March 8, according to commodity data company Kpler, a day after a drone attack targeted the Continue Reading
The United States on Monday expressed alarm at “genuine security threats” to Saudi Arabia from Yemen’s Iran-aligned Houthis and elsewhere in the region after attacks on the heart of the Continue Reading
Saudi Arabia said some of the world’s most protected oil infrastructure came under missile and drone attack in an escalation of regional hostilities that sent crude prices surging. The attacks on Continue Reading
Saudi Arabia said its largest oil export terminal at Ras Tanura in the Persian Gulf has emerged unscathed after being targeted in a March 7 drone attack in a series Continue Reading
Saudi Arabia raised pricing for its crude for shipment to Asia and the U.S. next month after OPEC+ extended oil supply constraints, pointing to a tightening physical market. The world’s biggest crude Continue Reading
Sun-scorched expanses and steady Red Sea breezes make the northwest tip of Saudi Arabia prime real estate for what the kingdom hopes will become a global hub for green hydrogen. As Continue Reading
Yemen’s Houthi rebels said they launched missile and drone strikes against a Saudi Arabian oil facility and a military base, as their attacks on the kingdom’s energy and security installations multiply. Continue Reading
Saudi Aramco is reportedly seeking to extend a $10-billion loan, according to Reuters, which cited unnamed sources familiar with the matter, who confirmed an initial report by a Reuters-related news Continue Reading
Saudi Aramco is aiming for its hydrogen business to be “world scale” by 2030, as that is when it expects the market for the clean fuel to scale up, Ahmed Continue Reading
Sheikh Ahmed Zaki Yamani, Saudi Arabia’s long-serving oil minister and the public face of the 1973 oil embargo that punctuated the country’s newfound role as an oil-market superpower, has died. Continue Reading
Saudi Arabia’s crude stockpiles dropped to their lowest on record in December as the OPEC kingpin continued to push out more exports with direct use falling even more, according to Continue Reading
Saudi Arabia plans to increase its oil output in the coming months, reversing a recent big production cut, say advisers to the Kingdom, a sign of growing confidence over an Continue Reading
Spurred by the accelerating global energy transition, Saudi Arabia may soon sell more shares of its flagship oil company to finance projects aimed at diversifying its hydrocarbon-reliant economy. The plan Continue Reading
President Joe Biden plans to shift U.S. relations with Saudi Arabia and will conduct diplomacy through Saudi King Salman bin Abdulaziz rather than his powerful son, Crown Prince Mohammed bin Continue Reading
Can a multibillion-dollar project in the Saudi desert jump-start the demand for green hydrogen, an elusive energy source that could help eliminate carbon emissions from vehicles, power plants and heavy industry? Continue Reading
Saudi Aramco, the world’s biggest oil company, is discussing with banks the idea to offer the potential buyers of its pipeline business a staple financing package of up to US$10 Continue Reading
Saudi Aramco is preparing a financing package of up to $10 billion that it could offer to buyers of its pipeline business unit, three sources said, as the oil giant Continue Reading
