Saudi Arabia ///

Saudis defending coveted India oil market with Reliance deal

Saudi Aramco’s proposed purchase of part of India’s Reliance Industries Ltd. will allow it to regain its grip on the world’s fastest-growing oil market where suppliers including the U.S. and Russia are making inroads.

Aramco remains world’s most profitable company even as oil falls

Saudi Aramco showed Monday it’s still the world’s most profitable company -- and paid out almost all its net income in dividends -- despite the dwindling price of oil.

Saudi Aramco offers no surprises in first earnings results call

Saudi Aramco’s senior executives can breathe a collective sigh of relief after the company’s first-ever earnings call with investors. The half-hour event was a pretty gentle affair with few questions that were likely to embarrass a company with a potentially lucrative share sale in the works.

Aramco taking $75-billion stake in Reliance Industries’ oil, chemicals unit

The world’s biggest crude producer will soon own a part of the world’s biggest oil refinery.

Oil power shifts as Russia’s wealth strengthens its OPEC leverage

the Bank of Russia’s total stockpile of cash, gold and other securities is about to surpass Saudi Arabia’s, highlighting the Kremlin’s leverage in talks between major oil producers about how much to reduce production.

Oil rises as investors weigh Saudi action against demand concern

Oil surged to start the U.S. session as investors weighed the latest steps from Saudi Arabia following a selloff earlier in the week.

Saudis to suppress oil supply in September to stabilize market

Saudi Arabia plans to keep oil exports below 7 MMbpd next month as the OPEC country allocates less crude than demanded by customers to help stabilize the market, according to Saudi officials.

Saudi Aramco cuts oil prices to Asia, raises rates in Europe and Mediterranean

Saudi Arabia, the world’s biggest oil exporter, lowered pricing for September sales of all crudes to Asia while raising prices to buyers in northwest Europe and the Mediterranean region.

McDermott secures offshore EPCI contract from Saudi Aramco

McDermott International has been awarded a contract by Saudi Aramco to provide engineering, procurement, construction and installation (EPCI) of a production deck module in Saudi Arabia's fields located offshore in the Arabian Gulf.

China feasts on record Saudi crude imports as sanctions hit Iran

China has tapped Saudi Arabia for a record volume of crude as the world’s biggest exporter plugs a shortage from sanctions-hit Iran.

Saudi Aramco to reduce reliance on Hormuz with pipeline expansion

Saudi Aramco expects to complete the expansion of an oil pipeline that runs east-west across the country by September, increasing Red Sea shipments and avoiding the tense Strait of Hormuz.

EIA: Saudi Arabia crude production hits four year low as export targets shift

The U.S. Energy Information Administration (EIA) reports that Saudi Arabia’s crude oil production approached a four-year low in May 2019, averaging an estimated 9.9 MMbpd, more than 1 MMbpd lower than its all-time high in November 2018.

Aramco IPO bankers question whether deal is worth the effort

When Saudi Arabia announced plans to sell shares in its crown jewel Aramco, international bankers scrambled to get a piece of the action. Three years on, they’re questioning whether what could be the world’s biggest IPO is worth their time and effort.

EIA: Iran drove unplanned OPEC production outage to highest levels since 2015

EIA says unplanned crude oil production outages for OPEC averaged 2.5 MMbpd in the first half of 2019, the highest six-month average since the end of 2015.

Sparrows Group secures approved supplier status from Saudi Aramco

Global specialist equipment and integrated engineering services company, Sparrows Group, has bolstered its position in Saudi Arabia after securing vendor approval status from the national oil company, Saudi Aramco.

Saudis pledge to keep doing OPEC's heavy lifting as shale surges

Saudi Arabia is fulfilling its pledge to make deeper cuts in oil output than the OPEC+ agreement on output requires, according to the first indication of the kingdom’s production since the supplier group extended curbs earlier this month.

McDermott wins record EPCI mega-project for Marjan Package 1

McDermott International, Inc., has announced that it has been awarded a contract in excess of $3 billion for Package 1 of Saudi Aramco's Marjan Increment Development Mega-Project to provide engineering, procurement, construction and installation (EPCI) of the Gas-Oil Separation Plant (GOSP), in a consortium with China Offshore Oil Engineering Company (COOEC).

Aramco awards $18 billion in deals to boost capacity, despite OPEC pledge to restrict output

Saudi Aramco, the world’s largest crude exporter, awarded $18 billion in contracts to boost output capacity at two offshore oil fields even as the kingdom and its OPEC partners restrict production.

Oil and gas in the capitals

Dr. Anas Alhajji, Contributing Editor

Middle Eastern Oil: Is Trump making the situation worse?

Saudi Arabia, Kuwait make breakthrough in Neutral Zone oil talks

Saudi Arabia and Kuwait are the closest in years to restoring oil output from the neutral zone shared by the neighboring nations after making a breakthrough in recent talks, according to people familiar with the matter.