Saudi Arabia
News
August 12, 2020
The prospects for petrostates have dramatically shifted from just a decade ago. Oil prices were near $100 a barrel then and consumers were worried about supplies running out. Now, OPEC is increasingly having to reckon with the prospect of peak demand, when consumption starts to decline as wind and solar power become more popular.
News
August 12, 2020
Saudi Arabia’s state oil company plans to cut capital expenditure to $25 billion or less next year, about half the amount it was originally planning, according to people familiar with the matter.
News
July 30, 2020
Siemens Energy was selected to provide centrifugal compressor systems for Saudi Aramco’s Hawiyah Unayzah Gas Reservoir Storage project. The plant includes a gas injection facility with a capacity of 1,500 MMscfd and a withdrawal facility capable of processing up to 2,000 MMscfd of gas.
News
July 30, 2020
A big clue into just how far the global market’s dynamics have shifted will become clear as Middle East producers unveil their September pricing. Traders and refiners in Asia and Europe expect Saudi Arabia to cut its official selling prices for the first time since the OPEC+ alliance agreed to reduce production in April.
News
July 21, 2020
The Interstate Oil and Gas Compact Commission (IOGCC) this week passed Railroad Commission Chairman Wayne Christian's resolution urging the federal government to investigate excessive dumping of crude oil by Saudi Arabia and Russia and take appropriate action.
News
July 13, 2020
Saudi Arabia commended Iraq for implementing almost all of its oil production cuts last month, another sign that the disputes over cheating that dominated recent meetings are being resolved.
News
July 10, 2020
Having successfully doubled crude prices over the past few months through unprecedented output cuts, the OPEC+ alliance led by the Saudis and Russia is poised to begin unwinding its stimulus measures.
News
July 06, 2020
Saudi Arabia raised pricing for August oil shipments to Asia, the U.S. and northern Europe amid signs that energy demand is continuing to recover. The move comes as the world’s biggest crude exporter pushes other major producers to join it in cutting supply to re-balance the market.
News
July 01, 2020
From OPEC stalwarts down to individual producing companies, oil price and demand projections are dividing into two separate camps. World Oil's editors review some of these key differences, and what they mean for crude production plans.
News
June 30, 2020
Saudi Arabia, de facto leader of the OPEC cartel, held a call with fellow member Nigeria as the organization strives to deliver production cuts aimed at bolstering global crude markets.
News
June 18, 2020
The world’s biggest oil exporter has begun cutting hundreds of jobs as it looks to reduce costs after a slump in energy prices, according to people familiar with the matter. Aramco is letting go of mostly foreign staff across several divisions, with affected employees being informed earlier this week.
News
June 17, 2020
The world’s biggest oil exporter is hitting the brakes in developing some of its crude and natural gas deposits, idling two offshore drilling rigs as the coronavirus batters energy use.
News
June 17, 2020
After flooding the U.S. with crude earlier this year, Saudi Arabia has all but cut off the taps to the American oil market.
News
June 15, 2020
Saudi Arabia reduced the amount of crude it will supply next month to seven refiners in Asia after OPEC+ agreed to extend its historic output cuts through July.
News
June 05, 2020
Saudi Arabia made some of the biggest price increases for crude exports in at least two decades, doubling down on its strategy to bolster the oil market after OPEC+ producers extended historic output cuts.
News
June 03, 2020
A meeting between OPEC and its allies is unlikely to happen this week as Saudi Arabia and Russia draw a hard line over quota cheating by some nations.
News
May 29, 2020
The move, if confirmed, would give the oil cartel more flexibility to change its current production limits. The existing deal, struck in April as energy demand and prices collapsed because of the coronavirus pandemic, calls for curbs to ease from July.
News
May 29, 2020
Our look ahead the coming week, including how drillers' ability to react to an increase in oil and gas demand could be impacted by technical and manpower limitations, and what key OPEC players have in store for the first week of June.
News
May 29, 2020
An early look at Saudi Arabia’s crude exports for May shows that historic production cuts have done little to squelch the kingdom’s flood of oil to China, which is just getting back on its feet from the coronavirus.
News
May 27, 2020
Russia and Saudi Arabia agreed to closely coordinate on the OPEC+ output cuts deal, two weeks ahead of a crucial meeting of the group.
News
May 19, 2020
The real result of Saudi Arabia's production cuts, how recovering global markets impact large and small shale players differently, and what that means for the future of the industry.
