Saudi Arabia
News
September 16, 2019
The attack on the kingdom’s most important oil production facility halved Saudi output and is crimping the availability of lighter grades such as Arab Extra Light and Arab Light. Those less-sulfurous grades are already in high demand due to new rules mandating a switch to cleaner shipping fuel.
News
September 15, 2019
The biggest moves could come from U.S. oil companies with a sizable short interest, including Apache, Continental Resources, Concho Resources, Devon Energy and Noble Energy, according to analysts at Houston-based Tudor Pickering Holt & Co.
News
September 15, 2019
The Trump administration sought to offer new evidence to back its claim that Iran conducted the attack on major Saudi Arabian oil facilities, saying the munitions used in the strikes were well beyond the capabilities of the Houthi rebels who claimed responsibility.
News
September 15, 2019
"There is but one rational takeaway from this weekend’s drone attacks on the Kingdom’s infrastructure – that infrastructure is highly vulnerable to attack, and the market has been persistently mispricing oil,” Citigroup Inc.’s Ed Morse wrote in a research note.
News
September 15, 2019
Energy Secretary Rick Perry is ready to draw down stocks from the Strategic Petroleum Reserve “to offset any disruptions to oil markets as a result of this act of aggression,” his spokeswoman said. Perry also ordered officials to work with the International Energy Agency on possible options for coordinated action.
News
September 15, 2019
The latest and most destructive attacks on Saudi oil facilities provide stark evidence of the vulnerability of global crude supply in an age of disruptive technologies that can bring a century-old industry – temporarily at least – to its knees.
News
September 15, 2019
Saudi Arabia is racing to restore oil production after a brazen drone strike on a key Aramco facility slashed its output by half, or about 5% of world supply, an assault that the U.S. has blamed on Iran.
News
September 14, 2019
President Donald Trump spoke by phone on Saturday with Saudi Crown Prince Mohammed Bin Salman after a swarm of explosive drones hit key oil-industry targets in Saudi Arabia, the state-run Saudi Press Agency reported.
News
September 14, 2019
Fires at the plant were brought under control within hours, but the flow of crude from Saudi Arabia, the world’s biggest exporter, will almost certainly be affected, although we don’t yet know by how much or for how long. Traders who have shrugged off tensions in the Middle East for months will respond to this attack when markets open on Monday.
News
September 14, 2019
Saudi Arabia’s oil production was cut by half after a swarm of explosive drones struck at the heart of the kingdom’s oil industry and set the world’s biggest crude-processing plant ablaze.
News
September 13, 2019
Since the launch of its strategy to revive global oil markets three years ago, one of the biggest challenges faced by OPEC and its allies is that not all the producers have pulled their weight.
News
September 12, 2019
The U.S. briefly became the world’s No. 1 oil exporter as record shale production found its way to global customers, and there are prospects for more.
Article
September 2019
Another mixed outlook awaits the E&P sector
News
September 10, 2019
The contract covers a range of products, from standard API to high end premium OCTG for both onshore and offshore oilfields, and conventional to complex wells. In addition, Vallourec will supply a large range of “from mill to rig” services as part of its new Vallourec.smart services program.
News
September 10, 2019
Subsea 7 has been awarded a contract by Saudi Aramco for the Marjan Increment Projects - Package 2, offshore Saudi Arabia.
News
September 10, 2019
Banks will be chosen “soon,” Chief Executive Officer Amin Nasser said at an industry conference in Abu Dhabi. Confirmation of the underwriters will signal that the share sale -- set to be the world’s largest -- is finally in the offing after plans were put on hold last year.
News
September 09, 2019
Late on Saturday night, Khalid Al-Falih was removed and replaced as energy minister by Prince Abdulaziz bin Salman. A half-brother of Crown Prince Mohammed bin Salman, he’s the first member of the royal family to hold the job.
News
September 09, 2019
Oil rose for a fourth day after Saudi Arabia’s new energy minister signaled that OPEC and its allies will continue with production cuts as the group prepared to gather in Abu Dhabi.
News
September 02, 2019
The Saudi decision to shrink the energy ministry will leave the kingdom’s oil policy unchanged as the world’s largest crude exporter continues cutting output to balance markets, a person with knowledge of the matter said.
News
August 29, 2019
Thailand’s state-controlled oil and gas company PTT is looking to resource-rich countries in the Middle East to help meet the country’s growing energy demand.
News
August 23, 2019
The award forms part of an initiative by ADNOC to secure smart procurement solutions that add value to its upstream oil and gas drilling business and promote in-country investment and service provision.
