Saudi Arabia ///

Saudis offer extra oil in Asia as OPEC leader pumps more

Evidence is mounting that Saudi Arabia is heeding U.S. President Donald Trump’s call for OPEC to keep the oil market amply supplied and rein in prices.

ADES International acquires onshore drilling operations from Weatherford

ADES International Holding Ltd., the London-listed company providing offshore and onshore oil and gas drilling and production services in the Middle East and Africa through its subsidiaries, has announced that it has signed a definitive agreement with Weatherford International for the acquisition of 31 onshore drilling rigs for a purchase price of $287.5 million.

Companies in the news

Michele Cowart, World Oil

Akofs Offshore has been awarded a contract for light well intervention services, using its 156-m vessel, Akofs Seafarer, for all Equinor-operated licenses, in the period 2020 to 2025.

Saudis tell OPEC June output jumped to 10.5 MMbopd

Saudi Arabia told OPEC it pumped about 10.5 MMbopd last month as the kingdom sought to cap rallying prices by ramping up output, according to people familiar with the matter.

APICORP concludes successful exit of National Petroleum Services

The Arab Petroleum Investments Corporation (APICORP) announces that it has completed the sale of its 29% equity investment in National Petroleum Services (NPS) to National Energy Services Reunited Corporation.

Saudi, Russia reaffirm OPEC deal of MM-bbl oil boost

Saudi Arabia and Russia reaffirmed an agreement between OPEC and its allies, which they say will mean increasing oil production by 1 MMbpd.

Saudis weigh lure of higher oil prices as U.S. asks for more

Saudi Arabia will have to navigate a particularly delicate balance between chasing buyers and charging more for its crude when setting monthly prices for its biggest customers this week.

Saudis' biggest oil surge in five years barely steadies OPEC output

Saudi Arabia’s biggest oil-production surge in five years was only enough to keep OPEC’s output steady last month, as losses elsewhere in the group piled up.

ADNOC’s Al Yasat awards EPC contract of Bu Haseer field to NPCC

Al Yasat Company for Petroleum Operations, a subsidiary of the Abu Dhabi National Oil Company has awarded the Engineering, Procurement and Construction contract, for the full development of the offshore Bu Haseer field, to Abu Dhabi’s National Petroleum Construction Company.

Oil falls from three-year high as Trump pushes Saudis to pump more

Oil fell from the highest level in three years after President Trump piled pressure on Saudi Arabia to increase output and tame prices.

Oil gains as harder U.S. stance on Iran overshadows Saudi pledge

Oil rose to a one-month high as the risk of a supply crunch continued to buoy markets, with a U.S. demand that Iran’s customers halt their imports overshadowing Saudi Arabia’s promise to boost output.

Oil pauses advance as Saudis plan record July output

Crude oil’s advance slowed as Saudi Arabia was said to plan record crude oil production in July.

Aramco CEO pledges to meet oil demand after OPEC strikes a deal

Saudi Arabia’s state oil giant will meet customer demand for its crude after the country’s energy minister cemented a deal to boost global supply, according to Saudi Aramco CEO Amin Nasser.

Russia-Saudi plans for super-OPEC could reshape global oil order

When the group overseeing the so-called OPEC+ deal met last night, proceedings were dominated by two nations: Saudi Arabia and Russia. It was probably a snapshot of the oil market’s future.

Saudi dilemma: Output boost could hurt its oil-based economy

Saudi Arabia’s plan to halt the oil-price rally could hurt its economy, depriving the kingdom of billions of dollars in income that it needs more than other OPEC members.

Oil trades near $67 as Saudi Arabia sees "inevitable" supply boost

Oil steadied just below $67/bbl as Saudi Arabia’s energy minister said an OPEC agreement to raise production is “inevitable.”

MENA Supply: Robust performance amid tense geopolitical environments

The Arab Petroleum Investments Corporation (APICORP), the multi-lateral development bank focused on the energy sector, published its latest research report, which focuses on the performance of the different countries in the MENA region’s oil supply, in the context of regional geopolitics.

Saudi oil output said to rise above 10 MMbpd

Saudi Arabia boosted daily oil output in May to the highest level since October, ahead of meetings with Russia and other global producers next week where they may propose raising production even further and phasing out 18 months of voluntary cuts.

OPEC resistance to Saudi supply plan grows with Iraqi defiance

Iraq said OPEC should resist pressure to increase oil supplies, strengthening opposition to plans by Saudi Arabia as the group prepares to meet next week.

Aramco raises Asia oil pricing to four-year highs on demand

Saudi Arabia raised pricing for buyers in Asia to the highest since 2014 as demand builds in the country’s biggest market amid threats to rival suppliers.