Tag Archives: Saudi Arabia

Oil demand will also remain surprisingly robust over the next decade.

The country’s natural gas consumption has continued to grow as has natural gas’s role in Saudi Arabia’s current energy mix.

OPEC members Libya and Nigeria were exempted from the supply cuts because unrest had curbed their output.

Gulf states accounted for 11.8 per cent of natural gas production in the world.

Pertamina has signed a joint venture agreement with Aramco for the Cilacap refinery upgrade with a total investment value of around US$5.8 billion.

Yamal LNG has raised additional finance with several European banks.

Saudi Arabia is reducing its oil exports to Asia by around 7 million barrels this month.

Short-term variations in supply won’t affect the long-term trend of declining inventories. Al-Falih said.

Crude prices fell about 4 per cent this week after US data showed a surprise 3.3 million barrel rise in crude inventories to 513.2 million barrels.

The Russian Energy Ministry plans to hold a familiarization tour for colleagues from Saudi Arabia for projects in Siberia in July.