Tag Archives: Argaam

The international rig count, except for the US and Canada, increased by 24 units month-on-month (MoM) in February 2021, bringing the total count to 701, data of energy services firm Baker Hughes showed. The oil rigs in the Middle East rose by nine MoM to 260 in February but declined …

The Organization of Petroleum Exporting Countries and its allies (OPEC+) are expected to keep production quotas unchanged in March, with a possible revision starting April, analysts told Argaam ahead of the oil producers’ meeting on March 4, 2021. “Given the current level of Brent prices around $65 per barrel (bbl), …

Saudi Aramco is preparing a financing package of up to $10 billion that it could offer to buyers of its pipeline business unit, Reuters reported, citing three sources. The Saudi oil giant is in talks with banks to provide “staple financing”, which is a financing package provided by the seller …

Saudi Aramco maintained its second position as the world’s most valuable oil and gas brand in 2021, with a value of $37.5 billion, compared to $46.77 billion in 2020, according to Brand Finance. The annual report on the most valuable brands in the oil and gas sector found that the …

Oil output of the Organization of the Petroleum Exporting Countries (OPEC) rose for the seventh straight month in January, with Nigeria recording the biggest output decline, according to a Reuters survey. The output increased by 160,000 barrels per day (pbd) to reach 25.75 million in January compared with the previous …

Saudi Arabia is planning to introduce new ways of oil and gas exploitation, Minister of Energy Prince Abdulaziz bin Salman said, during a ceremony to launch the energy ministry’s new identity today, Jan. 25. The Kingdom is working under the hydrocarbon demand sustainability program, seeking to replace oil petroleum liquids …

Saudi Arabia is looking to boost its overseas investments and expand its global footprint in several sectors including industrials and services over the coming years, said Minister of Energy Prince Abdulaziz bin Salman. Several companies, such as Saudi Aramco, SABIC, and ACWA Power, in addition to other private companies, are …

Saudi Arabia’s oil exports to China increased by 43% month-on-month (MoM) in November 2020 to reach 8.48 million tons, or 2.06 million barrels per day (bpd). Accordingly, the Kingdom, the world’s second biggest economy, restored its position as the largest oil supplier to China, Reuters reported. Russia came second, with …

Russia views an oil price between $45 and $55 per barrel as the optimum level to allow for its oil production recovery, Reuters reported, citing Russian Deputy Prime Minister Alexander Novak. He added that Russia will support an increase in oil production by the Organization of the Petroleum Exporting Countries …

Saudi Arabia’s Minister of Energy Prince Abdulaziz Bin Salman affirmed that there is no disagreement between oil producers, describing this disagreement as rumors. Talks were successful, Prince Abdulaziz said on the sidelines of the 12th OPEC and non-OPEC Ministerial Meeting held yesterday, adding that a monthly meeting will be held …