Tag Archives: Saudi Arabia

Rising global crude stockpiles and weak demand could prompt Saudi Arabia to lower the price of Arab Light, its flagship crude, for Asian customers for January for the first time in seven months, a Reuters survey showed on Friday. Saudi Aramco, the world’s largest crude oil exporter, could lower the …

Nigeria expects to see “significant investment flow immediately” from Saudi Arabia after the top crude producer in the Middle East and Africa’s largest oil producer signed investment and cooperation agreements in the energy sector at a summit in Riyadh last week. Nigeria has been looking to attract foreign investment in …

Russian Deputy Prime Minister Alexander Novak said that Russia and Saudi Arabia will discuss the oil market situation and oil prices later on Wednesday, news agencies reported, as the Israel-Palestinian conflict rages on. Saudi Arabia’s Minister for Energy Prince Abdulaziz bin Salman is due to take part in an energy …

Saudi Arabia said it’s interested in studying technology for small modular nuclear reactors, as the Middle East’s largest oil producer looks to diversify its energy sources and generate cleaner power for domestic use and export. The kingdom is “a late-comer” to nuclear power and aims to study all types and …

Saudi Arabia has signed a deal with Greece for the establishment of a jointly-owned company to link up the two countries’ power grids with the goal of supplying Europe with clean energy, Reuters reports. The new company, Saudi Greek Interconnection, joins Greece’s IPTO and Saudi Arabia’s National Grid, each with …

Iran’s oil minister, Mohammad Javad Owji reaffirmed Tehran’s commitment to its share in the Arash gas field in the Persian Gulf, vowing not to exceed the agreed-upon production levels. Owji expressed optimism regarding the resolution of issues concerning the Arash field through ongoing negotiations with Kuwait. He assured that Iran …

Saudi Arabia’s oil giant Aramco has told at least five refiners in North Asia that it would supply the full crude oil volumes by contract next month, Reuters reported on Monday, quoting sources familiar with the plans. Aramco, the world’s top crude oil exporter, will ship the full volumes North …

Saudi Arabia’s oil giant Aramco has relaunched a tender for $1.8 billion worth of contracts for the expansion of the Zuluf offshore oilfield, having canceled deals previously awarded to U.S. firm McDermott, Upstream reported on Monday, quoting several sources with knowledge of the plans. Last month, Saudi Aramco called off …

Saudi Arabia and Russia moved with determination to support oil prices, extending their respective ongoing production and export cuts through the end of the year. In an initial response to Tuesday’s news, oil prices jumped and hit the highest level so far this year, with Brent Crude prices exceeding the …

China-based solar sector supplier GCL Technology Holdings Ltd. is in advanced talks with Saudi Arabia about opening its first overseas factory as the nations aim to extend their energy ties beyond oil. The world’s second-largest manufacturer of polysilicon, a key ingredient in solar panels, is looking to build a plant …