Saudi Arabia
News
June 24, 2021
The global oil market is calling out for a substantial increase in supplies, but OPEC+ is expected to provide only a fraction of what consumers are demanding.
News
June 23, 2021
Saudi Arabia’s Energy Minister said the OPEC+ alliance has a role in “taming and containing” inflationary pressures, just hours after Brent crude surged back above $75 a barrel.
News
June 22, 2021
Oil retreated after hitting $75 a barrel in London for the first time in more than two years, as Russia and other OPEC+ nations were said to consider increasing production.
News
June 22, 2021
Moscow is considering making a proposal that the group should ease a global supply deficit by increasing output, according to Russian officials familiar with the matter. Other OPEC+ nations are also discussing a potential supply hike in August, although specific numbers haven’t been mentioned.
News
June 18, 2021
China’s Silk Road Fund and Hassana Investment Co., controlled by the Saudi Arabian government, joined a group investing $12.4 billion in Saudi Aramco’s oil pipelines.
News
June 11, 2021
Prince Abdulaziz bin Salman has battled to keep short-sellers at bay for more than a year, famously warning speculators in September not to bet against him, and more recently lambasting the view that the world should stop investing in oil to protect the climate.
News
June 04, 2021
Saudi Arabia increased oil prices for customers in its main market of Asia by more than expected after crude surged above $70 a barrel and OPEC forecast that global demand would heavily outstrip supply over the rest of the year.
News
June 03, 2021
If the world were to follow the International Energy Agency’s controversial road map, which said investment in new fields would have to stop immediately to achieve net-zero carbon emissions by 2050, “the price for oil will go to, what, $200? Gas prices will skyrocket,” said Russian Deputy Prime Minister Alexander Novak.
News
June 03, 2021
Whichever company wins would partner with Egypt’s sovereign wealth fund in taking joint full ownership of Wataniya Petroleum, a fuel distribution firm that has more than 200 filling stations and is run by the North African nation’s military.
News
June 01, 2021
OPEC+ stuck to its plan to hike oil output in July, but Saudi Arabia’s energy minister kept the market guessing as to whether the group will add more supply later this year to keep pace with the accelerating global recovery.
News
May 28, 2021
For the first time in decades, oil companies aren’t rushing to increase production to chase rising oil prices as Brent crude approaches $70. Even in the Permian, the prolific shale basin at the center of the U.S. energy boom, drillers are resisting their traditional boom-and-bust cycle of spending.
News
May 17, 2021
State-controlled National Iranian Oil Co. has been priming oil fields -- and customer relationships -- so it can increase exports if an accord with the U.S. is clinched. But even if a deal is struck, the flow of additional crude into the market may be gradual.
News
May 04, 2021
Saudi Aramco’s profit soared in the first quarter following a recovery in global oil and gas markets, though free cash flow remained too low to fully cover dividend payments.
News
May 02, 2021
Arabian Drilling Co., a Saudi oilfield-services company partly held by Schlumberger NV, is preparing an initial public offering that could give it a valuation of around $2 billion, according to people familiar with the matter.
News
April 29, 2021
In the space of a few weeks, Saudi Arabia, the United Arab Emirates, Qatar, Oman and Kuwait have all accelerated multi-billion-dollar plans to sell energy assets or issue bonds off the back of them.
News
April 28, 2021
Saudi Arabia’s crown prince said the kingdom is in talks to sell a 1% stake in state oil giant Saudi Aramco to a “leading global energy company” as he forecast an economic rebound after the coronavirus pandemic.
News
April 15, 2021
The Yemeni rebels launched missiles at a Saudi Aramco facility in the refinery city of Jazan, and other targets including a site housing Patriot air-defense missiles, the group’s Al-Masirah TV reported. The Houthis said they used explosive-laded drones and 11 missiles.
News
April 10, 2021
Saudi Arabia will supply all the crude oil that was requested by India’s state-owned refiners and at least five other Asian customers next month as the linchpin producer starts to ramp up output.
News
April 10, 2021
The Houthis attacked Saudi Aramco sites in the eastern oil terminal of Jubail and the western city of Jeddah with explosive-laden drones on Sunday evening and Monday morning, the group’s Al-Masirah TV reported.
News
April 07, 2021
With the U.S. unlikely to ever reach previous crude production levels, OPEC+ is moving to roll back part of their oil supply cuts in the coming months.
News
April 06, 2021
India has become a vocal critic of the kingdom’s hawkish stance on oil prices and OPEC+ output policy in recent months, with mounting tensions prompting the country to seek alternative sources of crude.
