Search Results ///

Sort
Date Range

Saudi Arabia to waive ‘expat fees’ for industrial companies

RIYADH (Bloomberg) - Saudi Arabia will waive the controversial fees it requires industrial companies to pay for their foreign workers for a period of five years, lightening a burden on the private... to an exodus of foreign laborers, hitting the economy without making much of a dent in Saudi unemployment... to the official Saudi Press Agency. The cabinet statement didn’t provide further details...

Saudi attacks reveal oil supply’s fragility in asymmetric war

DUBAI (Bloomberg) - The latest and most destructive attacks on Saudi oil facilities provide stark... bring a century-old industry – temporarily at least – to its knees. Saudi Arabia slashed crude... field early Saturday morning. State oil producer Saudi Aramco said it shut down some production... outage at either the processing plant, Saudi Arabia’s biggest, or the field “could be a big...

Repairs to Saudi oil production may take ‘many months’: WSJ

NEW YORK (Bloomberg) - Full repairs to the attacked Saudi oil fields may take “many months... desperation in Saudi Arabia, more than a week after the attack on the nation’s largest oil-production... search for spare parts,” an anonymous Saudi official was quoted as saying. The situation is not “as rosy... flow but also the planned initial public offering of Saudi Aramco. Yemen’s Houthi rebels have claimed...

Saudi oil field targeted by drone attack, production unaffected

in southeast Saudi Arabia, but failed to disrupt production. Saudi Arabian Oil Co., or Aramco as the company... was meant to deliver an “important message” to the Saudi-led coalition which has been waging war... is “a joint strike against Saudi Arabia and the United Arab Emirates,” according to a tweet published by Houthi-owned al-Masirah TV. Saudi Energy Minister Khalid Al-Falih called the incident...

Saudi Arabia partially restores output at damaged oil plant

DUBAI (Bloomberg) - Saudi Arabia attempted to move beyond the worst oil disruption in its history... as traders factor in higher risks for Saudi supply. “During the two past days, we managed to contain... MMbpd restored by the end of this month, said Prince Abdulaziz. Saudi Arabia aims to pump 9.8 MMbpd... the unprecedented nature of the disruption caused by the attack. For decades, Saudi Arabia has been the oil...

Saudi oil capacity recovering from attacks faster than expected

DUBAI (Bloomberg) - Saudi Arabia is recovering faster than expected from the attacks on its oil industry, with total production capacity restored to more than 11 MMbpd about a week ahead of schedule, according to people with knowledge of the situation. The news, which helped to push crude down... facilities were claimed by Houthi rebels in Yemen, but Saudi Arabia, the U.S. and several other nations...

Saudi Aramco pitches itself as the low-carbon investors’ choice

LONDON (Bloomberg) - Since 1980, the year Saudi Aramco was fully nationalized, the world’s largest... moving environmental, social and governance concerns up the agenda. Before Saudi Arabia decided... globally, Saudi Aramco, will come under a lot of scrutiny from investors as it embarks upon the public... of Saudi oil takes half the energy of producing a barrel in the U.S. It shows that last year its...

Pentagon readying a public show of evidence in Saudi attacks

WASHINGTON (Bloomberg) - The Pentagon is preparing a report on who was responsible for the weekend attack on Saudi oil facilities and intends to make it public within 48 hours, a U.S. defense.... U.S. experts are conducting an intense examination of evidence on the ground in Saudi Arabia... be taken in response until he hears more directly from Saudi Arabia. “Our intelligence community...

Saudi Aramco to reduce reliance on Hormuz with pipeline expansion

LONDON - Saudi Aramco expects to complete the expansion of an oil pipeline that runs east-west... currently operates well below capacity, but the long-planned expansion will give Saudi Arabia... operates the pipeline below capacity because the largest Saudi oil fields are closer to the Persian... Gulf, the East-West pipeline was targeted in May in drone attacks. Saudi Arabia blamed the bombing...

Saudi oilfield attack recovery: Making sense of the numbers

LONDON (Bloomberg) - A blizzard of data on Saudi Arabia’s oil production, production capacity... and what that means for Saudi oil flows. The Numbers We’ve Been Given Production: Immediately before the attack, Aramco was pumping 9.8 MMbpd, in line with its average production level in August. Saudi.... Abqaiq has 4.92 MMbbl of capacity available, Khurais 1.3 MMbbl. Exports: Observed Saudi crude...

Sparrows Group secures approved supplier status from Saudi Aramco

, has bolstered its position in Saudi Arabia after securing vendor approval status from the national oil company, Saudi Aramco. The approval allows recently formed local entity, Sparrows Saudi Arabia LLC, to deliver its full portfolio of services to Saudi Aramco including drilling and lifting... power training courses. Chief executive officer of Sparrows, Stewart Mitchell, said: “Saudi Arabia...

Trump, Saudi Crown Prince speak on crude facility attack

WASHINGTON (Bloomberg) - President Donald Trump spoke by phone on Saturday with Saudi Crown Prince Mohammed Bin Salman after a swarm of explosive drones hit key oil-industry targets in Saudi Arabia, the state-run Saudi Press Agency reported. Trump affirmed the U.S. stance with Saudi Arabia... responsibility for the strikes, which forced Saudi Aramco to cut daily oil production in half. The White...

Weatherford, Saudi Aramco sign five-year procurement deal

agreement with Saudi Aramco to deliver cementation, completions, liners, solid expandables and casing... and Saudi Aramco, built on the forefront of oilfield technology and unsurpassed value. Weatherford vice president, Saudi Arabia, Jim Hollingsworth said, "Weatherford is energized by the opportunity afforded by Saudi Aramco to deploy our revolutionary technology in the Kingdom, which will save rig...

Subsea 7 awarded EPCI contract offshore Saudi Arabia

Subsea 7 has been awarded a contract by Saudi Aramco for the Marjan Increment Projects - Package 2, offshore Saudi Arabia.  The EPCI contract is awarded for execution in consortium with L&T... record of reliable project execution in the Kingdom of Saudi Arabia, and the close collaboration we enjoy with LTHE. We look forward to continuing our successful relationship with Saudi Aramco...

McDermott wins large EPCI contract for Saudi Aramco's Marjan and Zuluf fields

HOUSTON -- McDermott International, Inc. has announced a large contract award from Saudi Aramco... fields, offshore Saudi Arabia. The contract includes the full suite of EPCI services for the relocation.... "McDermott's extensive history with Saudi Aramco and our commitment to the continued growth of Saudi Arabia's energy sector is reflected in this award," said Linh Austin, McDermott's Senior V.P....