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Yemen’s Houthis claim unconfirmed missile strike on Saudi Aramco facility

(Bloomberg) --Houthi rebels in Yemen claimed to have struck a Saudi Aramco facility in Saudi Arabia with a missile. The Houthis hit a fuel-distribution center in Jeddah on the kingdom’s west coast with a Quds 2 rocket, according to a statement from their spokesman, Yahya Saree. Aramco did... in a civil war since 2015, frequently fire missiles into Saudi Arabia, some of which are intercepted...

Saudi Aramco reports no injuries following Yemen missile attack

(Bloomberg) --Saudi Aramco needed about 40 minutes to put out the fire caused by a missile strike... on Saudi Arabia’s energy infrastructure. No one was hurt in Monday’s explosion or blaze, and supplies... temporarily knocked out about half of Saudi Arabia’s oil-production capacity and briefly caused crude prices... been fighting Yemen’s United Nations-backed government in a civil war since 2015, when a Saudi-led...

U.S. imports no Saudi crude for the first time since 1985

(Bloomberg) --The U.S. didn’t import any Saudi crude last week for the first time in 35 years... from Saudi Arabia take about six weeks to reach import terminals on either the west or Gulf coasts... history of monthly figures shows this is the first time there were no Saudi imports since September 1985.... For Saudi Arabia, cutting shipments to the U.S. is the quickest way to telegraph to the wider market...

Second tanker attacked in the Saudi Red Sea in three weeks

(Bloomberg) --A ship was hit by an explosion at the Saudi Arabian port of Jeddah, as attacks... weeks after an oil tanker was damaged, possibly by a mine, at the Saudi terminal of Shuqaiq and Yemen’s Houthi rebels claimed a missile strike on a Saudi Aramco fuel depot in Jeddah. Tensions in the area have risen as the U.S., a Saudi ally, ramps up sanctions on Iran, which backs the Houthis...

Oil tanker attacked in Saudi Arabian Red Sea terminal

(Bloomberg) --An oil tanker came under attack while at a Saudi Arabian terminal in the Red Sea... responsibility. A few hours after the incident, state TV reported that Saudi-led coalition forces were... wasn’t at a crude oil export facility and will almost certainly have zero effect Saudi Arabia’s... Houthis fired a missile at a Saudi Aramco fuel depot in Jeddah, the kingdom’s second-biggest city...

Asian oil refiners target European crude as Saudi output falls

Saudi Arabia’s surprise decision to unilaterally cut output in February and March. Unipec, the trading... consignments. Saudi Arabia, the world’s top oil exporter, surprised global oil markets on Tuesday by announcing... since August. “It is down to the Saudi cut and the consequent rise in their February OSP to Asia... tighter supplies following the Saudi cuts. The shape of the Brent futures curve returned to backwardation...

Aramco discovers two new oil and gas fields in northern Saudi Arabia

DUBAI (Bloomberg) - Saudi Aramco discovered two oil and gas fields in northern parts of Saudi Arabia, the kingdom’s official news agency reported, citing Energy Minister Prince Abdulaziz bin Salman. Gas has started flowing from Hadabat Al-Hajara field near the Iraqi border at an average daily rate... are suitable, will be useful for meeting Saudi Arabia’s gas targets and supplying the west coast, which...

Sercel wins second Saudi mega-crew equipment contract

PARIS - CGG announced that Sercel has won a second major contract to supply land seismic equipment to a leading seismic acquisition contractor for a 3D mega-crew survey in Saudi Arabia. It has also... to equip a separate Saudi 3D mega-crew survey. The new 3D contract includes a Sercel 508XT seismic... in Saudi Arabia significantly strengthens Sercel’s already well-established position in the Middle...

Saudi Arabia sets its sights on hydrogen export leadership

(Bloomberg) - The world’s biggest oil exporter has set its sights on also becoming the largest supplier of hydrogen, a fuel seen as pivotal for curbing climate change. Saudi Arabia has “ambitious” plans and “will not be challenged in its record of being the biggest exporter of hydrogen on earth... hydrogen to the crude oil it already produces and sells, Saudi Arabia hopes to preserve its role...

Mohammed bin Salman unveils his plan for Saudi Arabia’s post-oil future

(Bloomberg) --Crown Prince Mohammed bin Salman unveiled his latest vision for Saudi Arabia’s... by the Saudi government, PIF and local and global investors over 10 years,” the prince told reporters in Al-Ula, referring to Saudi Arabia’s Public Investment Fund. The announcement on Sunday shows... rising sea levels and carbon emissions in a manner rare for a Saudi official. The city, he said...

Siemens Energy to supply 20 compressor trains for a critical gas project in Saudi Arabia

MUNICH - Siemens Energy was selected to provide centrifugal compressor systems for Saudi Aramco’s Hawiyah Unayzah Gas Reservoir Storage (HUGRS) project. The plant includes a gas injection facility..., located 162 miles (260 kilometers) east of Saudi Arabia’s capital, Riyadh, includes a plant...’ recent successful supply of compressor trains for other Saudi Aramco projects, including the new...

Saudi Arabia’s budget based on $50 oil, Goldman Sachs estimates

(Bloomberg) --Saudi Arabia’s Finance Ministry sees oil prices at around $50 a barrel for the next... below the pre-pandemic level of around $65 and less than Saudi Arabia needs to balance its budget..., which said Saudi Arabia is basing next year’s budget on an oil price of $50 to $55. Goldman is itself more bullish, forecasting that Brent will climb to $65 by the end of 2021. Saudi officials expect...

Weak oil prices pushed Saudi export revenue down 25% in October

(Bloomberg) --Saudi Arabia’s export revenue fell by nearly a quarter in October from a year earlier, driven largely by a slump in global oil prices. Exports fell to 57.8 billion riyals ($15.4 billion) from 76.8 billion riyals in 2019, the General Authority for Statistics said in a statement... destination for Saudi shipments, followed by India and the United Arab Emirates ...

Saudi’s oil cuts appear prophetic as market risks grow

LONDON (Bloomberg) --For Saudi Arabia, bad news in the oil market has rarely been... on Jan. 5. The 23 nations led by Saudi Arabia and Russia had been expected to add another monthly... to the depleted coffers of OPEC+ members, including Saudi Arabia, which needs prices far above... a barrel. With the additional Saudi curbs, oil inventories are on track to decline steadily...

Saudi Arabia cements its role as leader of the global oil and gas market

(Bloomberg) --Saudi Arabia surprised the market with a large cut in crude production, an assertion.... The move papered over cracks in the OPEC+ coalition and was a U-turn from some recent Saudi oil-policy.... “We are the guardian of this industry,” Saudi Energy Minister Prince Abdulaziz bin Salman said..., and there was reason to think it would prevail. Saudi Arabia shattered those assumptions, pledging...