Tag Archives: Saudi Arabia

Saudi Arabian Oil Company (Aramco) today reported a 288% increase in net income for the second quarter of 2021 from the same quarter of last year to $25.5 billion, declaring a dividend of $18.8 billion. The company’s net income for the first half of the year was $47.2 billion, representing …

Saudi Arabia’s first wind farm, with capacity of 400 MW, has started power generation as the world’s biggest oil exporter boosts its renewable projects amid plans to diversify its energy mix and free up crude used in the electricity sector for export. Dumat al-Jandal, which is being developed by UAE …

Dumat Al Jandal, the Middle East’s largest wind farm and the first in the Kingdom of Saudi Arabia, is now connected to the grid and has produced its first carbon-free megawatt-hours (MWh) of energy. The 400-megawatt (MW) utility-scale wind power project is being developed by a consortium led by EDF …

Saudi Arabia will lead increases in oil and gas production globally through 2030 as international energy majors remain wary of fluctuating demand and focus on short-term profit, according to Fitch Ratings. The Kingdom will increase production of crude oil, condensate and natural gas liquids by 2.24 million barrels a day …

Aramco has refuted recent reports claiming that the company plans to embark on Bitcoin mining activities. In a statement, Aramco said: “With reference to recent reports claiming that the company will embark on Bitcoin mining activities, Aramco confirms that these claims are completely false and inaccurate.” Aramco is a global …

Saudi Arabia is aiming to use Fourth Industrial Revolution (4IR) technology to fundamentally transform the energy sector, enhance the security of its water and food resources, and fight climate change, senior ministers announced. “Our vision is to transform the energy sector through the application of data and technology,” Saudi Energy …

Saudi Arabia and Russia have clinched a deal for an OPEC+ production increase by partly submitting to the United Arab Emirates’ demands for a more generous quota. But the compromise still leaves Riyadh and Moscow on top. Of all the adjustments agreed recently to the group’s baselines – the level …

The use of hydrogen as an energy source has gained a lot of attention in recent years. Up to a few years ago, little was known or debated about hydrogen energy and its economic and environmental impact on society. I myself had little knowledge of the hydrogen energy market until …

The United Arab Emirates has resolved its standoff with OPEC+ and reached a compromise deal that will give it a new output quota, said a delegate. The cartel will set a new date for a meeting soon, the delegate said, asking not to be named because the information was private. …

Saudi Arabia and the United Arab Emirates (UAE) have reached a compromise over OPEC+ policy, an OPEC+ source said on July 14, in a move that should unlock a deal to supply more crude to a tight oil market and cool soaring prices. Brent oil prices fell on the news …