Tag Archives: Argaam

The world should be looking at all options to mitigate emissions of greenhouse gases in its fight against climate change, but that getting rid of oil and gas would be “far-fetched and unrealistic”, Reuters reported on Monday, citing Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman. “Let’s not focus on …

Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman said the OPEC+ countries that had produced beyond the level stipulated by the crude oil output-cut agreement have pledged to compensate during the period from October to December. Speaking at the opening of an OPEC+ ministerial monitoring committee (JMMC), Prince Abdulaziz …

Saudi Basic Industries Corp. plans to expand the scope of its Crude Oil to Chemicals project with Saudi Aramco to include existing development programs of advancing crude to chemicals technologies as well as through integrating existing facilities, the petrochemical firm said in a statement to Tadawul. The decision came after …

Saudi Arabia’s Minister of Energy, Prince Abdulaziz bin Salman Al Saud, stated that the Kingdom seeks to be a leader in finding solutions for the green energy future. “We will not be a part of the problem, nor will we accept to be just a part of the solution. Our …

Oil prices could potentially rise to around $65 per barrel next year, but expected to be volatile, Russian Energy Minister Alexander Novak said on Friday, speaking at an online conference reported by Reuters. He also expected that global oil demand could fall by 9-10 million barrels per day (bpd) this …

Russian Energy Minister Alexander Novak on Wednesday said that Moscow would propose to OPEC+ group to react to the recovery in global oil demand, as part of their agreement to cut production in order to support prices, Reuters reported. Global oil demand has recovered by as much as 90% of …

OPEC oil producers and allies are meeting today to review compliance with oil output cuts deal, but are unlikely to change their output policy, Reuters reported, citing OPEC+ sources. The meeting instead would focus on compliance by countries such as Iraq, Nigeria and Kazakhstan, the sources said, adding that compliance …

An OPEC+ ministerial panel monitoring the group’s oil supply reduction deal will hold its next virtual meeting on Aug. 19, a day later than previously planned, three OPEC+ sources told Reuters. The reason for the date change was not mentioned. OPEC+ has been cutting output since May to tackle the …

Japan-based JXTG Nippon Oil & Energy Corporation will conduct the feasibility study of a new ethylidene norbornene (ENB) plant, to be built in Jubail, as part of the Amiral petrochemical complex, announced by Saudi Aramco and Total on Oct. 8, 2018. The new ENB plant project would make the Kingdom …

Russia’s oil output deal with leading global producers will have an impact on global markets once it begins to be implemented, Dmitry Peskov, the Kremlin’s spokesman, told reporters on a conference call. Russia and other oil producers, known collectively as OPEC+, agreed over the weekend to cut their combined oil …