Saudi Arabia ///

Saudi plans for early end to OPEC pact risk leaving job undone

Saudi Arabia says OPEC is on track to wrap up its production curbs by the middle of the year. That would leave its aim of clearing a global oil glut unfinished.

Saudis see no need to extend OPEC deal beyond six months

OPEC probably won’t need to extend a deal it reached with other crude producers to cut output, given the level of their compliance with the reductions and the outlook for an increase in global demand, Saudi Energy Minister Khalid Al-Falih said.

SNC-Lavalin awarded five-year extension to GES+ contract with Saudi Aramco

SNC-Lavalin Fayez Engineering (SLFE), an engineering consultancy partnership between SNC-Lavalin and Dr. Zuhair Fayez, has been awarded a five-year extension to its existing General Engineering Services Plus (GES+) contract with Saudi Aramco, with three one-year options to extend.

Saudi oil cuts exceeds target and Kingdom may cut for longer

Saudi Arabia will consider renewing its pledge to cut crude output in six months and has already reduced production by more than its targeted level, Energy Minister Khalid Al-Falih said.

Saudis said to cut oil to China, South Asia as others spared

Saudi Arabia was said to cut February crude sales to China and southern Asian nations, while largely sparing countries including Japan and South Korea, as it curbs supply as part of a deal between OPEC and other producers.

Wood Group secures multi-million dollar framework agreement with Saudi Aramco

Wood Group has secured a five-year, multi-million dollar framework agreement to continue to provide engineering and project management services to Saudi Aramco’s onshore capital programs in the Kingdom of Saudi Arabia.

Saudi Arabia to U.A.E. complying with oil cuts, Kuwait says

Oil producers from Saudi Arabia to the United Arab Emirates are complying with production cuts promised last year to stabilize the market, Kuwait’s governor to the Organization of Petroleum Exporting Countries said.

Saudis said to duel rivals by curbing heavy oil over light crude

Saudi Arabia is staying in the battle for market share by continuing to pump the type of oil that’s similar to rival U.S. and African supply, while fulfilling its promise to cut output by focusing curbs on other varieties.

Oil rises as Saudi Arabia said to comply with OPEC output cuts

Oil rose as Saudi Arabia was said to meet its pledged output cut this month and U.S. stockpiles fell the most in almost four months.

Saudi Aramco raises oil pricing to Asia and U.S. as OPEC cuts output

Saudi Arabia raised pricing for February oil sales to Asia and increased premiums for light grades to the U.S. as the world’s largest crude exporter prepares to reduce output to help counter a global oversupply.

Saudi Aramco awards offshore EPCI contract to McDermott

Saudi Aramco extends contract for Seadrill jackup

Seadrill has received a three-year contract extension from Saudi Aramco for the jackup rig AOD III.

Saudi Arabia’s energy minister sees oil recovering on OPEC cuts

Oil prices are set to recover next year as OPEC fulfills its agreement to cut output, halting the slump that battered the global oil industry, Saudi Arabia’s energy minister said.

Saudi Arabia sees oil revenue rising 46% in 2017 as prices climb

Saudi Arabia expects oil revenue to jump by 46% next year after a deal between the kingdom and other producers to curb output drove up global prices.

Aramco IPO could still be in U.S. as kingdom plays down rift

Saudi Arabia could still decide to sell shares of oil giant Aramco in New York, Foreign Minister Adel al-Jubeir said, even after the U.S. passed a law that allows victims of the Sept. 11 attacks to sue the kingdom.

Saudi minister sees oil glut ending in months

OPEC and other major oil producers are committed to a “high level of compliance” with their agreements to cut output, and the shared strategy will balance the market in 2017, Saudi Oil Minister Khalid Al-Falih said.

Aramco keeps building rigs even as Saudis agree to pump less

Saudi Arabian Oil Co. signed contracts with U.S. companies to build dozens of oil rigs over 10 years as the kingdom builds for the long-term future of its most prized industry even while coordinating with other producers to cut output for six months to stabilize crude.

As U.S. shale seeps into top oil market, Saudis hone defense

As Saudi Arabia goes on a shock and awe attack to curb a global oil glut, it’s also playing defense to hold on to its most prized customers.

Oil seen headed to $60 as Saudis signal deeper output cuts

Oil may climb to $60/bbl for the first time in almost a year and a half after Russia and other unaffiliated nations joined an OPEC pledge to reduce production and Saudi Arabia surprised the market by saying it will cut more than previously agreed.

Saudi Arabia starts telling refiners oil supply will be cut

Saudi Arabia has started to tell its customers it will reduce crude shipments from January, with the curbs focused on Europe and North America while Asian refineries are so far largely spared.