Saudi Arabia ///

Saudi, Russian energy ministers cancel planned Davos meeting

Saudi Arabia and Russia will no longer hold oil talks in Davos this week, scrapping the first face-to-face meeting since both nations agreed in December to cut output.

Saipem has been awarded two new offshore contracts from Saudi Aramco for $1.3 billion

Saipem has been awarded two EPIC contracts (Engineering, Procurement, Installation, Construction) assigned by the client Saudi Aramco for a total amount of approximately $1.3 billion as part of the Long Term Agreement for offshore activities in Saudi Arabia, renewed in 2015 and in force until 2021.

Russia aims to speed up oil output cuts as Saudis criticize pace

Russia is aiming to accelerate the pace of oil production cuts after its reductions drew criticism from Saudi Arabia.

Oil gains as Russia, Saudis signal commitment to production cuts

Oil closed higher for the second straight day as Russia and Saudi Arabia signaled they’re on track with production cuts designed to avoid a global supply glut.

Saudi and Canadian cuts are leaving world hungry for heavy crude

Output cuts in oil-rich Alberta and Saudi Arabia are combining to leave heavy-crude refiners from the Gulf of Mexico to Asia in a bind.

Eni, Thailand's PTTEP win Abu Dhabi oil exploration rights

Eni SpA and Thailand’s PTT Exploration and Production Pcl secured rights to explore for oil and natural gas in Abu Dhabi, committing to invest at least $230 million to assess the offshore blocks.

What all that oil really means for the Saudis

In case you didn’t know it, Saudi Arabia is sitting on top of a lot of oil. The first independent assessment of reserves in about 40 years has just proved it.

Saudis say OPEC+ oil cuts provided `lifeline' to U.S. shale

Saudi Arabia’s energy minister has no quarrels with U.S. shale and even sees output cuts by OPEC and its allies as directly aiding American drillers.

Saudis raise oil-reserves estimate ahead of Aramco's planned IPO

Saudi Arabia published the first audit of its vast oil reserves since it nationalized its energy industry about 40 years ago, saying its reserves total 268.5 billion, slightly more than the 266.3 billion figure that the government published previously.

Oil edges up as traders weigh economic risks against OPEC cuts

Oil ended another topsy-turvy day by closing near a two-week high, as traders weighed signs that OPEC is following through on production cuts against hints of an economic slowdown.

Cepsa has begun marketing crude from two of Abu Dhabi’s largest oilfields

Cepsa began to market crude this week from its 20% concession in the SARB and Umm Lulu oilfields, which the Abu Dhabi National Oil Company (ADNOC), on behalf of the Abu Dhabi Government, awarded it in February 2018.

Saudi Arabia plans spate of water project privatizations in 2019

Saudi Arabia plans to tender or award six water-related projects in 2019 as it pushes ahead with a privatization program that got off to a slow start.

Oil gains as Saudis pledge to extend cuts, U.S. supply draw seen

Oil prices climbed as Saudi Arabia predicted that OPEC will extend supply cuts next year and optimistic economic growth prospects boosted U.S. equities.

ADNOC awards Austria’s OMV stake in Ghasha Offshore ultra-sour gas concession

The Abu Dhabi government and the Abu Dhabi National Oil Company (ADNOC) have awarded Austria’s OMV a 5% stake in the Ghasha ultra-sour gas concession that comprises the Hail, Ghasha, Dalma, Nasr, Sarb and Mubarraz sour gas fields.

Saudi budget estimate for oil seen as "wishful thinking"

Some analysts say Saudi Arabia’s 2019 revenue forecast is surprising because they estimate it to be based on a relatively high price of oil.

Saudi Arabia optimistically estimates 2019 at $80/bbl and 10.2 MMbopd

Saudi Arabia’s government expects to earn more from oil next year, an optimism that defies most price forecasts for crude and contrasts with the kingdom’s history of making conservative financial assumptions.

Weir Oil & Gas awarded contract with Expro for repair of Powerchoke products

Weir Oil & Gas Dubai has announced it has signed a contract with Expro to provide authorized repairs, specifically for Expro’s PowerChokes product range.

Oil falls below $52, little changed a week after OPEC+ cuts

Oil traded below $52/bbl in New York, just striking distance from where it trended a week ago after OPEC and its allies announced output cuts, as traders weighed incremental U.S. shale growth against softer demand for 2019.

Saudis are said to target U.S. with sharp oil export cut

After flooding the U.S. market in recent months, Saudi Arabia plans to slash exports to the world’s largest oil market in the coming weeks in an effort to dampen visible build-ups in crude inventories.

Russia to curb output in small increments as Saudis cut faster

Russia played a big part in making possible a new OPEC+ deal to curb production, but initially it’s letting Saudi Arabia shoulder the bulk of actual cuts.