Saudi Arabia ///

New gas turbine improves gas protection in dusty environments

Parker Hannifin recently announced the release of its new clearcurrent PRO SP+ cartridge filter at the ADIPEC show in Abu Dhabi.

WTI holds near $56/bbl after surging on Saudi cut-extension plea

Oil held near $56/bbl after surging the most in almost two weeks as Saudi Arabia’s energy minister said OPEC should announce an extension to supply cuts when it meets at the end of the month.

Investors key on geopolitics over crude in Saudi Arabia

Investors in Saudi Arabia’s stock market are more concerned with political headlines coming out of Riyadh than oil prices.

Oil short-sellers return as doubts loom on OPEC's horizon

After bullish bets on Brent crude hit a record and futures surged to two-year highs, hedge funds are pulling back with a sense that the rally reached its limit for now. Wagers on lower prices rose by the most since June as Middle East tensions took a backseat, while uncertainty looms over Saudi Arabia’s push to extend OPEC’s output curbs this month.

Oil climbs as Saudi Arabia seeks to dispel doubts over Russia

Oil climbed, paring losses earlier this week, as Saudi Arabia moved to dispel doubts over Russia’s readiness to extend output curbs.

Saudi Arabia says OPEC should extend cuts in meeting this month

Saudi Arabia’s Energy Minister said OPEC and its allies should announce an extension of their output curbs when they gather at the end of this month.

U.S. to dominate oil markets after biggest boom in world history

The U.S. will be a dominant force in global oil and gas markets for many years to come as the shale boom becomes the biggest supply surge in history, the International Energy Agency predicted.

Breakup of Saudi-Russian alliance would collapse crude prices, Citigroup says

The Saudi- and Russia-led supply limits that have lifted crude to a 2 1/2-year high must be prolonged for an extended period or prices will collapse, said Ed Morse, global head of commodities research at Citigroup Inc.

Hedge funds add bullish oil bets as Mideast's tension heats up

Hedge-fund bets on rising Brent crude hit a fresh record as tension in the oil-rich region escalated, sending prices to their highest in more than two years.

Saudi Aramco CEO says size of share offering still to be decided

Saudi Arabian Oil Co. is still waiting for a decision on how many of its shares will be offered to the public, or where the listing will be made outside of the kingdom, according to CEO Amin Nasser.

Oil set for best weekly run this year as Saudis roil market

Oil is heading for a fifth weekly advance as political upheaval in the world’s biggest crude exporter countered an expansion of U.S. output to the highest level in more than three decades.

Saudi Aramco signs $4.5 billion worth of agreements for oil, gas mega-projects

Saudi Aramco has signed agreements with several oil and gas service contractors for oil and gas mega-projects designed to enhance the company’s energy sustainability, diversify the economy, expand gas production, and localize domestic content. The agreements are valued at nearly $4.5 billion in total.

Crude approaches 28-month high as Saudi crackdown intensifies

Crude resumed its march toward levels last seen in 2015 as escalating tensions in Saudi Arabia raised concerns about stability in the region.

Oil steady as U.S. output peak counters Middle East concerns

Oil steadied near $57/bbl in New York as data showing U.S. crude output at the highest in at least three decades countered concerns sparked by a political purge in top exporter Saudi Arabia.

Oil at 28-month high as Saudi anti-graft sweep rattles markets

Oil reached levels last seen more than two years ago as Saudi Arabian King Salman’s anti-corruption drive shook the world’s biggest crude exporter just weeks before major producers gather to discuss prolonging historic production caps.

U.S. shale oil trumps risk of supply shock after Saudi purge

The oil market’s more concerned about U.S. shale supplies than any repercussions from a crackdown that’s enveloped royals and billionaires in Saudi Arabia.

Saudis lead Gulf nations in cutting break-even oil price

Saudi Arabia, OPEC’s biggest oil producer, is also a leader when it comes to slashing the crude price the country needs to balance its budget.

Iraq overtaking Saudi Arabia in supplying U.S. with oil

Iraq surpassed Saudi Arabia as a crude supplier to the U.S. in September, and it’s poised to repeat that this month.

Zamil Offshore Services, UTEC partner for offshore survey in Saudi Arabia

Zamil Offshore Services and UTEC announce strategic partnership for offshore survey in the Kingdom of Saudi Arabia.

Rowan, Saudi Aramco launch ARO Drilling

Rowan Companies plc has announced that ARO Drilling, a 50/50 joint venture with the Saudi Arabian Oil Company (Saudi Aramco), commenced operations on Oct. 17, 2017.