Saudi Arabia ///

Saudi Aramco CEO says 'peak oil' demand is a misleading theory

The boss of Saudi Arabia’s state oil company defended petroleum as the mainstay of the global economy, countering theories that demand will peak within years with his own forecast that consumption will keep growing for decades.

OPEC ministers to meet Russia amid push to extend cuts

The energy ministers of OPEC members Saudi Arabia and Venezuela plan to meet their Russian counterpart to discuss extending oil-output cuts amid a developing consensus that they should prolong their joint effort to curb supply.

Saudi Arabia seen losing market share to Iran, Iraq on oil cuts

Saudi Arabia, the world’s biggest crude exporter, is losing market share to Iraq and Iran as a result of OPEC’s agreement to curb supplies to bolster prices, according to the head of research at Abu Dhabi Investment Authority.

Saudi forces foil attempted attack on Aramco oil in Jazan

Saudi Arabia’s security forces foiled an attempt to blow up an oil product distribution center in Jazan, a province bordering Yemen in the kingdom’s southwest, according to the state-run news agency.

Oman Oil seeking banks to help sell assets amid Aramco IPO

Oman Oil Co., the sultanate’s state-owned energy producer, is seeking advice from banks to sell some energy assets and list units on the local stock market, following plans by its larger peer Saudi Arabian Oil Co. to offer shares to the public.

Aramco CEO sees oil market closer to balance, despite U.S. boom

The global oil market is moving closer to balance even as increases in U.S. oil production push prices down in the short-term, Saudi Arabian Oil Co. CEO Amin Nasser said.

Oman Oil said to seek strategic advice amid Aramco IPO plans

Oman Oil Co., the sultanate’s state-owned energy producer, is seeking advice from banks on strategic options for its business, according to people familiar with the matter, following plans by larger peer Saudi Arabian Oil Co. to sell shares to the public.

Oil set for longest gain since 2012 as Saudis seen extending cut

Oil advanced for an eighth day in London, the longest gain since 2012, on confidence Saudi Arabia will support an extension to OPEC-led output cuts just as stockpiles show signs of shrinking.

Saudi Arabia said to cut oil output to lowest since January

Saudi Arabia pared its oil production last month to the lowest since January, staying below the output level it pledged to maintain as part of a global deal to reduce crude supplies, according to a person with knowledge of the data.

Saudi Aramco said to raise $3 billion in debut 'sukuk' sale

Saudi Aramco is planning to raise 11.25 billion riyals ($3 billion) from its debut Islamic bond, according to a person with knowledge of the offering, boosting the size of the sale because of investor demand.

Middle Eastern oil giant burning through cash pile

It was meant to be a given that a rebound in oil prices would slow the depletion of Saudi Arabia's foreign-currency reserves. That hasn't happened yet, and economists are wondering why.

Oil spread that rules trading flow seen aiding OPEC's rivals

A crude-price spread that rules over the flow of supply to the world’s biggest oil market will probably favor producers outside the Middle East at least until OPEC meets next month.

Saudi Aramco cuts oil pricing for Europe, where Russia dominates

Saudi Arabia lowered oil pricing for European customers, a sign the world’s biggest crude exporter is seeking to expand market share in the region dominated by Russia.

British PM May makes pitch for UK Aramco listing

UK Prime Minister Theresa May pitched London as a listing destination for Saudi Aramco’s initial public offering during her trip to Saudi Arabia.

Saudi Arabia to switch crude oil pricing for Europe

Saudi Arabia is to tweak the benchmark it uses to sell its crude in Europe, in a concession to refiners in the region that have long complained about their ability to hedge using the current measure.

Saudi Aramco valuation topping $1 trillion after tax cut

Saudi Aramco could have a market value of more than $1 trillion, Sanford C. Bernstein & Co. estimates, after the government slashed the oil producer’s tax burden to attract investors ahead of what may be the world’s biggest initial public offering.

Saudi Aramco tax slashed to prepare oil producer for giant IPO

Saudi Arabia slashed the tax rate paid by state oil producer Saudi Aramco, a key milestone in preparing the company for what may be the world’s biggest initial public offering.

China's Sinopec invited to invest in Saudi Aramco IPO

China Petroleum & Chemical Corp. said it was invited to invest in Saudi Arabian Oil Co. as part of what could be the world’s biggest-ever initial public offering.

Russia, Saudis move at a different pace as oil cuts scrutinized

Russia and Saudi Arabia head to this weekend’s OPEC committee meeting as the tortoise and hare of a global deal to cut oil supply, with Moscow sticking to a slow and steady pace despite Riyadh’s cajoling.

Saudi Aramco said to weigh rolling bank hires for record IPO

Saudi Arabian Oil Co. is weighing a plan to hire investment banks for different stages of its initial public offering, four people with knowledge of the matter said.