Tag Archives: Saudi Arabia

On Tuesday, oil prices were mixed following recent losses with some investors snatching up bargains. But concerns over slower demand grew after Saudi Arabia cut crude prices sharply for Asia. Demand woes grew after Saudi Aramco announced it would cut official selling prices (OSPs) by at least $1 per barrel …

Oil was down Monday morning in Asia. The black liquid extended its losses after Saudi Arabia cut crude prices for Asia over the weekend amid an uncertain fuel demand outlook. Brent oil futures slid 1.06% to $71.84 by 11:50 PM ET. Crude oil WTI futures fell 1.02% to $68.58, remaining …

Saudi Arabia cut oil prices for sales to Asia next month by more than twice the expected amount in a sign the world’s largest crude exporter wants to entice buyers to take more of its barrels. Saudi Arabia cut oil prices for sales to Asia next month by more than …

Saudi Arabia could not ship more crude oil in the first half as it voluntarily restrained output under OPEC+ production-cut agreement; however, high oil prices this year helped the Kingdom to see stable income. The Kingdom’s crude oil exports averaged 5.776 million barrels per day (bpd) in the first half …

Saudi Arabia maintained its position as China’s top crude oil supplier for the ninth month in July, Reuters reported, citing data from the General Administration of Customs in China. Shipments from Saudi Arabia totaled 6.69 million tons in July, or 1.58 million barrels per day (bpd), compared with 1.75 million …

Dhahran-based petroleum and natural gas company Saudi Aramco is reportedly targeting to raise at least $17bn from its stake sale in gas pipelines. The deal amount could be higher than the $12.4bn the company received in the oil pipeline transaction, sources familiar with the matter told Reuters. North American private …

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 …