Tag Archives: Saudi Arabia

Saudi Arabia, the Middle East’s leading energy producer, continues to pour significant resources into development of low- and zero-carbon hydrogen, apparently determined to capture a major share of the emerging global industry. According to news reports this week, the Kingdom’s Public Investment Fund (PIF) has created Energy Solutions Company to …

As Iran visits Gulf states to scrounge up support in the face of what many believe is an impending strike by Israel, Reuters reports that Saudi Arabia, UAE and Qatar are lobbying Washington to thwart Israel. On Thursday, Iranian Foreign Minister Abbas Araghchi told the media that the country was …

Saudi Arabia is poised to make a multibillion-dollar investment in green hydrogen, with plans to establish a new company dedicated to producing the low-carbon fuel, reported Bloomberg, citing sources. This initiative is part of the kingdom’s broader strategy to diversify away from oil and gas while maintaining its status as …

The world’s largest crude exporter, Saudi Arabia, has raised the price of its flagship grade to Asia by more than expected amid high volatility in international oil prices amid the escalating conflict in the Middle East. Saudi Aramco in the weekend raised the price of its Arab Light grade loading …

A little under a year before the Russian invasion of February 2022, Saudi Aramco’s chief executive officer, Amin Nasser, had spent several days at the annual China Development Forum hosted in Beijing, during which time he stated: “Ensuring the continuing security of China’s energy needs remains our highest priority – …

Saudi Arabia is expected to increase its crude oil supply to China in October after the world’s top crude exporter cut the prices of the oil it sells in Asia, trade sources told Reuters on Thursday. The Kingdom is set to ship a total of 46 million barrels of its …

Saudi Arabia has long prided itself on being the lowest-cost oil producer in the world—and has taken maximum advantage of this fact. Now, with ambitious spending plans for a diversified economy, that lowest cost is becoming less relevant. It’s the breakeven cost of oil that matters. And that’s going up. …

Saudi Aramco, Abu Dhabi National Oil Company (ADNOC) and commodities trader Trafigura are among the entities vying to acquire Shell’s service stations in South Africa, reported Bloomberg, citing sources. The sale, which could fetch close to $1bn, includes a network of 600 service stations and is part of Shell’s downstream …

Worsening refining margins in China and the wider Asian region and weaker Dubai benchmark prices could make the world’s top crude oil exporter, Saudi Arabia, reduce the price of its crude loading for Asia in October, a Reuters survey of refining industry sources showed on Monday. Saudi Aramco, the world’s …

Saudi Arabia is expected to put less money into the oil industry than initially predicted in its goal to invest $1 trillion in strategic sectors by the end of the decade. The Gulf kingdom will likely direct the majority of its funds, around 73% of total investments, into non-oil sectors …