http://www.worldoil.com WorldOil Siemens Energy to supply 20 compressor trains for a critical gas project in Saudi Arabia https://www.worldoil.com/news/2020/7/30/siemens-energy-to-supply-20-compressor-trains-for-a-critical-gas-project-in-saudi-arabia Siemens Energy was selected to provide centrifugal compressor systems for Saudi Aramco’s Hawiyah Unayzah Gas Reservoir Storage project. The plant includes a gas injection facility with a capacity of 1,500 MMscfd and a withdrawal facility capable of processing up to 2,000 MMscfd of gas. Weak oil futures driving pressure on Saudis to cut prices https://www.worldoil.com/news/2020/7/30/weak-oil-futures-driving-pressure-on-saudis-to-cut-prices A big clue into just how far the global market’s dynamics have shifted will become clear as Middle East producers unveil their September pricing. Traders and refiners in Asia and Europe expect Saudi Arabia to cut its official selling prices for the first time since the OPEC+ alliance agreed to reduce production in April. Texas oil regulator accuses Saudi Arabia and Russia of dumping crude on U.S. markets https://www.worldoil.com/news/2020/7/21/texas-oil-regulator-accuses-saudi-arabia-and-russia-of-dumping-crude-on-us-markets The Interstate Oil and Gas Compact Commission (IOGCC) this week passed Railroad Commission Chairman Wayne Christian's resolution urging the federal government to investigate excessive dumping of crude oil by Saudi Arabia and Russia and take appropriate action. Saudi energy minister phones Iraqi counterpart, commends OPEC+ compliance https://www.worldoil.com/news/2020/7/13/saudi-energy-minister-phones-iraqi-counterpart-commends-opecplus-compliance Saudi Arabia commended Iraq for implementing almost all of its oil production cuts last month, another sign that the disputes over cheating that dominated recent meetings are being resolved. OPEC+ preps for next challenge – how and when to restore oil output https://www.worldoil.com/news/2020/7/10/opecplus-preps-for-next-challenge-how-and-when-to-restore-oil-output Having successfully doubled crude prices over the past few months through unprecedented output cuts, the OPEC+ alliance led by the Saudis and Russia is poised to begin unwinding its stimulus measures. As the U.S. drilling decline continues, Canada's offshore industry puts Ottawa on the spot https://www.worldoil.com/news/2020/7/10/as-the-us-drilling-decline-continues-canadas-offshore-industry-puts-ottawa-on-the-spot World Oil editors discuss how the latest rig count numbers disappoint, a Canadian oil industry association gets tough, OPEC+ puts their foot down on cheaters, and a Marcellus shale recovery falls into question thanks to the Atlantic Coast pipeline. Saudis hike oil prices to key markets on rising energy demand https://www.worldoil.com/news/2020/7/6/saudis-hike-oil-prices-to-key-markets-on-rising-energy-demand Saudi Arabia raised pricing for August oil shipments to Asia, the U.S. and northern Europe amid signs that energy demand is continuing to recover. The move comes as the world’s biggest crude exporter pushes other major producers to join it in cutting supply to re-balance the market. As oil demand sentiments diverge on a national and an operator level, are production plans evolving to keep pace? https://www.worldoil.com/news/2020/7/1/as-oil-demand-sentiments-diverge-on-a-national-and-an-operator-level-are-production-plans-evolving-to-keep-pace From OPEC stalwarts down to individual producing companies, oil price and demand projections are dividing into two separate camps. World Oil's editors review some of these key differences, and what they mean for crude production plans. Saudi prince phones Nigeria to bring them in line with OPEC+ cuts https://www.worldoil.com/news/2020/6/30/saudi-prince-phones-nigeria-to-bring-them-in-line-with-opecplus-cuts Saudi Arabia, de facto leader of the OPEC cartel, held a call with fellow member Nigeria as the organization strives to deliver production cuts aimed at bolstering global crude markets. Saudis suspend work, delay expansions as oil demand weakens https://www.worldoil.com/news/2020/6/17/saudis-suspend-work-delay-expansions-as-oil-demand-weakens The world’s biggest oil exporter is hitting the brakes in developing some of its crude and natural gas deposits, idling two offshore drilling rigs as the coronavirus batters energy use.