Tag Archives: Saudi Arabia

Japan signed two sets of cooperation agreements with Saudi Arabia on Dec. 25 in the fields of hydrogen, fuel ammonia and carbon recycling, strengthening the current relationship primarily based on buyer and supplier of crude oil. The cooperation agreements were the latest in Japan’s efforts to develop its large-scale supply …

OPEC and its allies have no choice but to remain proactive given the uncertainties that face the market, the Saudi Arabian oil minister said. “The market has been subject to some extreme shocks and if it were not for the proactive approach and the pre-emptive steps that OPEC+ adopted, these …

Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said the impact of European sanctions on Russian crude oil and the cap that the Group of Seven nations has imposed on the price of Russian barrels is not clear yet. “In terms of sanctions and price caps, these have not yielded …

Saudi oil giant Aramco plans to work with Chinese partners to maintain the safety and stability of the industrial supply chains, the company’s Chairman Yasir Al-Rumayyan has told Xinhua. In a written interview with Xinhua on Friday, Al-Rumayyan said his company would cooperate with its Chinese partners also in various …

Sinopec has signed a framework agreement with Saudi Aramco to build a Phase II 16 million-ton-a-year refining project and 1.5 million-ton-year ethylene units in Gulei, Fujian. The project is expected to be completed and operating by the end of 2025, according to a press release by Sinopec. The Chinese company …

Major oil-producing countries led by Saudi Arabia and Russia look set to maintain their current output levels at a meeting Sunday, ahead of fresh sanctions against Moscow coming into force. The 13-member Organization of the Petroleum Exporting Countries (OPEC) is due to consult with 10 other oil-producing nations, including Russia, …

Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman has announced the discovery of two new natural gas fields in the Kingdom. The “Awtad” unconventional natural gas field was discovered southwest of the Ghawar field, 142 kilometers southwest of the city of Hofuf, according to the Saudi Press Agency. The “Al-Dahna” …

Following a bilateral meeting on Thursday, the energy ministers of Saudi Arabia and Iraq reiterated their support for the oil production cut agreed upon last month. At the same meeting, they emphasized the importance of sticking to the agreement until the end of 2023, Saudi Arabia’s Abdulaziz bin Salman said …

Like the first cuckoo of spring, the annual autumn refrain from senior Iraqi oil officials of new production targets has that pleasant ring of the familiar about it to seasoned oil industry watchers. Sometimes it is 6 million barrels per day (bpd), sometimes 7, and sometimes 8, but it always …

The world’s largest crude oil exporter, Saudi Arabia, has started to slash its crude exports after OPEC+ is now reducing its overall target production by 2 million barrels per day (bpd). Initial tracking and estimates suggest that so far in November, Saudi Arabia has reduced its crude oil exports by …