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 state oil giant Aramco remained the second most valuable brand in the oil and gas industry last year, with a value of $35.7 billion, according to Brand Finance. This Continue Reading
Highlights 574 MW gas-fired power plant being phased out Saudi Aramco, SABIC, Maaden could get involved ‘Various scenarios’ of 15-30 GW of installed renewables capacity Dubai — Saudi Arabia’s future Continue Reading
Global energy markets and industry insiders believe that it was a good idea for Saudi Arabia to slash oil production by one million barrels daily until the end of March Continue Reading
Singapore — 0352 GMT: Crude oil futures were buoyed as Saudi Arabia’s voluntary 1 million b/d production cuts, announced in January, took effect, even as concerns of flailing energy demand Continue Reading
More shares in flagship oil and gas company, Saudi Aramco (Aramco), may be released for sale to the public if conditions are right, said the Governor of Saudi Arabia’s sovereign Continue Reading
Saudi Aramco, the world’s largest oil company, is about to make headlines again. In a surprise statement by Saudi Crown Prince Mohammed bin Salman during an interview at the Future Continue Reading
The Biden administration has imposed a temporary freeze on U.S. arms sales to Saudi Arabia and is scrutinizing purchases by the United Arab Emirates as it reviews billions of dollars Continue Reading
Saudi Arabia’s “brilliant move” to unilaterally reduce oil output additionally by 1 million b/d has been a great contribution to the stabilization of the global oil market, Kirill Dmitriev, the Continue Reading
Saudi Arabia’s oil giant, state-held Aramco, could think about selling more of its shares under the right market conditions, the governor of the Kingdom’s Public Investment Fund (PIF) said on Continue Reading
Saudi Arabia is working to replace the use of petroleum liquids for power generation with solar energy and gas-fired capacity, Argaam reported on Monday, citing Saudi Arabia’s Energy Minister, Prince Continue Reading
When earlier this month Saudi Arabia served “a wonderful surprise” to oil markets in the words of its energy minister, oil prices jumped up. After all, the Kingdom said it Continue Reading
Saudi Arabia’s Public Investment Fund plans to double its assets to 4 trillion riyals ($1.07 trillion) by 2025, Prince Mohammed bin Salman said on Sunday, a move that would make Continue Reading
Saudi Arabia’s exports fell by more than a quarter in November compared with a year ago, driven by another drop in oil demand. Total revenue was 58.2 billion riyals ($15.5 billion), Continue Reading
Before it launched the world’s biggest public listing, Saudi Arabian Oil Co. promised potential investors a small piece of a trillion-dollar company with access to unrivaled oil reserves. Not just in Continue Reading
Oil prices have risen by 10 percent since the end of 2020 and 8 percent since the OPEC+ meeting two weeks ago, but the rally has nothing to do with Continue Reading
For most of last year, Saudi Arabia—the largest oil exporter in the world—and its key partner in the OPEC+ deal, Russia, were head-to-head in a very close race for the Continue Reading
Saudi Arabia’s crude exports rose to a seven-month high in November and, with production capped by the OPEC+ agreement, domestic stockpiles ended the month at a 17-year low, according to Continue Reading
Saudi Aramco may be forced to play catch-up in 2021 as rival state-controlled oil companies closely aligned to OPEC policy in the Middle East race to add new production capacity Continue Reading
Iran and China look to exploit Saudi oil deficit with new push in West Karoun Iran And China Exploit Saudi Weakness With New Oil Megaproject Iran And China Capitalize On Continue Reading
Saudi Aramco is lining up a loan of about $7.5 billion for potential investors in its oil pipelines, according to people familiar with the matter. (Bloomberg) — Saudi Aramco is Continue Reading
Market tightness is the new byword on the global crude markets, though this given bout of supply scarcity (luckily) bears all the traits of a forethought and premeditated one. Saudi Continue Reading
Saudi Arabia is preparing to return to global capital markets with a bond sale aimed at raising about $5 billion to help cover financing needs heightened by last year’s slide Continue Reading
A zero-carbon city will be built on the site of the Neom smart city project, Crown Prince Mohammed bin Salman said on Sunday, as quoted by Reuters. The city, dubbed Continue Reading
Saudi Arabia raised pricing for oil customers in Asia and the U.S. after its shock move this week to cut output sent crude prices climbing. A day after its unilateral Continue Reading
The U.S. didn’t import any Saudi crude last week for the first time in 35 years, a reversal from just months ago when the Kingdom threatened to upend the American Continue Reading
For the first time in 35 years, no oil flowed from Saudi Arabia to the United States last week, according to EIA data, in a show that the United States—at Continue Reading
The first monthly OPEC+ meeting to decide on the group’s production ended with an unexpected, in fact shocking two-month agreement: Saudi announced an unexpected and unilateral production cut of 1 Continue Reading
Ever since Saudi energy minister Prince Abdulaziz bin Salman took his post in August 2019, he has cracked the whip on OPEC+ compliance, pressuring, scolding and cajoling quota violators to Continue Reading
Saudi Arabia has delivered what Russian Deputy Prime Minister Alexander Novak called “a New Year’s gift” to the oil market with its surprise announcement of an extra 1 million b/d Continue Reading
Saudi Arabia surprised the market with a large cut in crude production, an assertion of primacy over the global oil industry that came directly from the kingdom’s de-facto ruler. The move Continue Reading
Saudi Arabia said Tuesday it will cut its oil production by 1 million barrels a day, taking on the burden of supporting prices in the energy market as a “goodwill Continue Reading
Azerbaijan signed agreements with Saudi Arabia’s ACWA Power for the construction of a 240-megawatt wind park. Azerbaijan’s Energy Minister Parviz Shahbazov and his Saudi counterpart, Crown Prince Abdulaziz bin Salman, attended Continue Reading
Saudi Aramco has discovered four new oil and gas fields, the Kingdom’s Energy Minister Abdulaziz bin Salman said, as quoted by the Saudi Press Agency. Two of the fields are Continue Reading
Saudi Arabia has discovered four new oil and gas fields, including unconventional resources, the country’s energy minister said Dec. 27. Receive daily email alerts, subscriber notes & personalize your experience. Continue Reading
Saudi Arabia’s exports fell by nearly a quarter in October from a year earlier, driven largely by a slump in global oil prices. Exports fell to 57.8 billion riyals ($15.4 billion) Continue Reading
Highlights Pipeline hit by Houthi-claimed attack in May 2019 Reserve pipeline network has restored flows: sources Aramco planning pipeline expansion to 7 million b/d Dubai — Saudi Arabia’s Red Sea Continue Reading
Having lost out on buying stocks on the cheap during the global financial crisis, Saudi Arabia’s sovereign wealth fund wasn’t going to make the same mistake twice. So, when the Continue Reading
Saudi Arabia’s crude oil exports rose to 6.159 million barrels per day (bpd) in October, up by nearly 100,000 bpd from the 6.066 million bpd exports in September, data from Continue Reading
Despite differing views on the pandemic, the OPEC+ alliance will continue to manage the oil market, Saudi energy minister Prince Abdulaziz bin Salman said Dec. 17. Receive daily email alerts, Continue Reading
Saudi Arabia reduced its budget plan for 2021 by 7 percent from this year’s in response to the economic fallout of the pandemic, which pushed oil prices to multi-year lows. Continue Reading
Saudi Arabia King Salman bin Abdulaziz signed the 2021 state budget on Tuesday following a virtual cabinet meeting in Riyadh. Saudi Arabia plans to spend less next year to rein Continue Reading
An explosion rocked a Singapore-flagged oil tanker at the Saudi Red Sea port of Jeddah, according to multiple media reports. The United Kingdom Maritime Trade Operations website reported the incident Continue Reading
Saudi tankers pictured in a handout photo. An explosion hit a tanker docked in Saudi Arabia on Monday. An oil tanker docked at the Saudi port city of Jeddah was Continue Reading
An LR1 tanker owned by Hafnia suffered an explosion early Dec. 14 while discharging a gasoline cargo at Saudi Arabia’s western port of Jeddah, sources with direct knowledge of the Continue Reading
Saudi Arabia is looking to plug budget gaps by having its state-run oil giant, Saudi Aramco, sell some stakes in its subsidiaries, according to anonymous Bloomberg sources. The Kingdom’s oil Continue Reading
When Alwyn Whitcher took a job with Saudi Aramco in 2017, he believed he was joining a company with a history of valuing the expatriate engineers who helped build and Continue Reading
Saudi Arabia’s foreign minister said on Friday a resolution to a bitter dispute with Qatar seemed “within reach” after Kuwait announced progress towards ending a row that Washington says hampers Continue Reading
The Public Investment Fund, the sovereign wealth fund of the world’s largest oil exporter Saudi Arabia, has contacted international banks for a loan of up to US$7 billion to use Continue Reading
Saudi Arabia’s crude oil exports to the United States fell to the lowest in 35 years in October, averaging less than 100,000 bpd, Bloomberg reported , citing preliminary and historical Continue Reading
