Saudi Arabia ///

Saudi Arabia switches OPEC tack with eye on world’s top IPO

To understand why Saudi Arabia changed course and decided OPEC should go back to managing supply, look at two of the kingdom’s biggest policy challenges: the urgent need to plug holes in its budget and the plan to sell a stake in the state-owned oil monopoly.

OPEC deadlocked as Iran, Saudis harden positions on oil deal

An OPEC deal to curtail oil production appeared in jeopardy as Iran said it won’t make cuts while Saudi Arabia insisted Tehran must be willing to play a meaningful role in any agreement.

Iran rules out production cut ahead of OPEC meeting

Oil retreated below $46/bbl in New York after OPEC officials failed to work out a compromise deal to ease a global supply glut and Iran ruled out reducing its production.

Saudi Aramco in trillion cell reservoir simulation run

The EXPEC Advanced Research Center (EXPEC ARC) TeraPOWERS Technology Team, under the leadership of Saudi Aramco fellow Ali Dogru, has achieved a major breakthrough with the industry’s first trillion cell reservoir simulation run.

OPEC tries to salvage deal as Saudis say cut may not be needed

OPEC ministers flew to Moscow and officials in Vienna launched another round of talks in an effort to salvage an agreement on production cuts, just as Saudi Arabia raised the possibility of leaving without a deal.

Saudis sink Russia oil talks as OPEC deal hangs in the balance

Saudi Arabia pulled out of planned talks with non-OPEC nations including Russia as disagreements about how to share the burden of supply cuts stood in the way of a deal to boost prices just days before a make-or-break meeting in Vienna.

OPEC’s last push for oil-cuts deal shifts focus to Iran, Russia

OPEC’s final push to implement the Algiers supply accord and boost oil prices shifted focus to Iran and non-members such as Russia as Iraq appeared to reverse its opposition to output cuts.

Saudi Aramco awards contract extension to Jacobs

Jacobs Engineering Group has received an amendment from Saudi Aramco for its general engineering services (GES) contract.

Saudi Arabia’s latest OPEC headache: Russian reluctance to cut

For months, Russia has told OPEC its preferred option in any eventual oil-supply deal was to freeze production, rather than to cut it. Saudi Arabia, the bloc’s most powerful member, is beginning to think Moscow actually means it.

Saudi Arabia’s sway in OPEC limited by resurgent Iraq, Iran

Saudi Arabia’s dominance of OPEC isn’t what it once was.

Saudi Aramco, Rowan partner to create new offshore drilling company

Rowan Companies and Saudi Aramco have signed, through their subsidiaries, an agreement to create a 50/50 joint venture (JV) to own, operate, and manage offshore drilling rigs in Saudi Arabia.

Oil steadies as Saudi Arabia says it’s optimistic on production deal

Crude oil traded near $46/bbl as Saudi Arabia, due to meet with Russia and some OPEC nations in Doha, said it’s optimistic that producers will reach an agreement to stabilize world markets.

Iran, Iraq oil ministers said to bypass energy talks with Saudis

Iraq’s oil minister will bypass energy talks this week in Qatar, where rival producer Saudi Arabia plans to hold talks with Russia on possible collective action to limit production. His Iranian counterpart is also said to be giving the meeting a miss.

Why President Trump could be OPEC's new best friend: Column

Last week, I wrote that OPEC needs friends and a miracle to re-balance the oil market. Could President Trump be that unwitting buddy, providing the miracle by tearing up the nuclear agreement with Iran and removing almost a million barrels a day of supply at a stroke?

Iran pumps more oil as Saudi’s call for OPEC output cuts

Iran boosted oil output at three western fields faster than it expected as rival OPEC producer Saudi Arabia called for a collective output cut later this month to help rebalance the market.

Saipem lands two offshore contracts with Saudi Aramco

Saipem has been awarded “new contracts and change orders” worth about $1 billion, according to a company statement.

McDermott opens 300-person office in Saudi Arabia

McDermott International has opened a new office in Al Khobar, Saudi Arabia, with the ability to add 300 staff to its existing workforce in the Kingdom.

Saudi Aramco, Nabors ink onshore rig agreement

Nabors Industries has announced the signing of an agreement to form a new joint venture (JV) in the Kingdom of Saudi Arabia to own, manage and operate onshore drilling rigs.

Saudi Arabia faces deeper cuts as Iraq opts out of OPEC deal

Saudi Arabia faces the prospect of much deeper—and financially painful—oil production cuts after Iraq joined the queue of group members seeking immunity from the deal hatched in Algiers.

Saudis said to boost oil sales to China as pricing lures buyers

Saudi Arabia, which is marshaling a potential deal with global crude producers to limit output, is said to have lifted sales to the world’s second biggest oil consumer after cutting the pricing for its supply.