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News
October 25, 2023
Oil is here to stay as U.S. majors strike blockbuster deals while Saudi policies are helping stabilize global crude markets, the kingdom’s energy minister said at the annual investment forum in Riyadh.
News
March 19, 2024
CERAWeek by S&P Global kicked off on March 18th, hosted by the Hilton Americas hotel in Houston, Texas for the 2024 session. One of the opening Leadership Dialogues featured President and CEO Amin H. Nasser, of Saudi Aramco, who began by addressing the current demand for “energy that helps protect the planet” while also being cheap and readily available.
News
March 05, 2024
The MGS‐3 aims to expand the existing natural gas network in order to provide gas supply to various industrial consumers in the region. This expansion of the natural gas network is expected to enhance the ability to meet the growing energy demand in Saudi Arabia and replace liquid fuel burning, contributing to Saudi Arabia’s drive towards a diverse energy mix.
News
November 05, 2023
Saudi Arabia and Russia reaffirmed that they will stick with oil production curbs of more than 1 MMbpd until the end of the year, even as turmoil in the Middle East roils global markets.
News
February 14, 2024
These rigs will be sourced from H&P’s idle super-spec FlexRigs in the U.S. and, during fiscal 2024, the company plans to convert the rigs to walking configurations and further equip them to suit Saudi Aramco’s unconventional gas drilling rig specifications.
News
January 30, 2024
The surprise move comes after the world’s biggest oil exporter had said in November that it was progressing “very well” with a multibillion-dollar project to boost capacity to 13 MMbpd by 2027 as demand in China and India continues to grow.
News
January 26, 2024
Saudi Aramco, the world’s largest oil company, is continuing to send tanker loads of crude and fuels through the southern Red Sea, where Houthi militants have for months been menacing merchant ships in response to the Israel-Hamas war in Gaza.
News
December 05, 2023
OPEC+ could take further measures if last week’s production cuts agreement isn’t enough to balance the oil market, said Deputy Prime Minister Alexander Novak.
News
November 10, 2023
The OPEC+ leader is likely to extend its 1 MMbpd production cut — introduced over the summer — into next year, according to analysts at UBS Group AG, FGE, Commerzbank AG and Eurasia Group. RBC Capital Markets says it looks increasingly likely.
News
November 27, 2023
The OPEC leader has been making a largely unilateral production cutback of 1 MMbpd since July, and is now seeking further support from across OPEC and its partners, said the delegates, asking not to be identified because the information is private.
News
November 07, 2023
Delivery of the contract includes the design and manufacture of top drives from Kenera’s rig equipment business, Bentec.
Article
February 2024
Saudi Arabia suspends oil expansion as neighboring producers plan to raise output
News
October 24, 2023
As inventories decline in the coming months, “the market will have to beg for more supply at some point,” the founder of Andurand Capital Management LLP said during a question-and-answer session at Saudi Arabia’s Future Investment Initiative in Riyadh.
News
February 12, 2024
Nasser’s projections are roughly half-way between forecasts from OPEC — the producer group led by Riyadh — and its counterpart representing consuming nations, the International Energy Agency. It’s in line with views from major traders such as Vitol Group and Gunvor Group Ltd.
News
December 06, 2023
At the center of discussions in Riyadh will be Russia’s role in OPEC+, the Saudi-led alliance between the Organization of Petroleum Exporting Countries and other major oil producers, which last week agreed to extend and deepen production cuts to bolster prices.
Article
October 2023
Saudi-led production cut extension tests regional compliance
Article
October 2023
In September, Saudi Arabia and Russia produced approximately 9 MMbopd each, as both countries continued to honor their 1 MMbopd supply reduction pledge, despite a 2.3 MMbopd increase in global demand led by China, India and Brazil
Article
December 2023
To ensure a thriving civilization, it is crucial to embrace a diverse energy portfolio that includes both renewable sources and unconventional resources, leading us toward an energy-rich and sustainable future.
Article
November 2023
A modernized communications infrastructure that can see, think and act, and enable the upstream industry to build the resilience and digital capabilities in needs, is a must. And the components for it are here now.
Article
January 2024
ESG testing drilling engineers
Article
February 2024
As operator spending shifts away from the U.S., six of eight regions will post drilling increases. That being said, some areas—Middle East, Africa and South America—will do better than others, and most gains registered will be modest.
Article
December 2023
To increase efficiency and reach HSE goals, a manufacturer streamlined the connection of the pressure control tool string to the wellhead, using a hydraulically controlled latching system. This innovation eliminates the need for human intervention during connection, thereby minimizing risk of injury, while increasing operational efficiency and reducing rig-up/rig-down costs.
Article
February 2024
Worldwide E&P spending is set to increase 5% in 2024, decelerating from 11% in 2023, with the global upturn extending into a third year. North American spending growth should moderate to 2.2% in 2024, following 19% growth in 2023. The majority of spending increases have shifted to international and offshore markets.
