Tag Archives: Saudi Arabia

Major Chinese investors are in talks to buy a stake in Saudi Aramco, several sources told Reuters on Wednesday, as Saudi Arabia’s state oil firm prepares to sell another slice of its business to international investors, Reuters reports. Saudi Arabia was in discussions to sell 1% of Aramco to a …

Saudi Arabia expects to benefit from future drop in oil supply from major producers such as the US and Russia and pump more crude to cater to global demand as it mulls more sales in Saudi Aramco shares to foreign investors, the country’s crown prince said April 27. “There is …

Saudi Arabia could save some $200 billion over the next ten years by switching from crude oil to natural gas and renewables for electricity production, Reuters reports, citing the Kingdom’s Finance Minister. “Instead of buying fuel from the international markets at $60 and then selling it at $6 for Saudi …

Saudi Arabia and other top oil and gas producers have teamed up to help implement the Paris Agreement on climate change and move towards achieving net zero emissions. Other countries who are part of the Net Zero Producers Forum are the US, Canada, Norway, and Qatar. The Saudi energy ministry …

The world’s largest oil company and biggest oil exporter, Saudi Aramco, has resumed tendering and development work on major offshore oil expansion projects that would give Saudi Arabia another 1.15 million barrels per day (bpd) of production capacity by 2024, Argus reported on Friday, citing a contractor with knowledge of …

Evidence shows that biased media outlets will always exist when it comes to news about Saudi Arabia. The announcement of a $12.4 billion deal to set up a new unit called Aramco Oil Pipelines Company was reported unconstructively by some global news media as Saudi Aramco selling its assets, taking …

Saudi Arabia will supply all the crude oil that was requested by India’s state-owned refiners and at least five other Asian customers next month as the linchpin producer starts to ramp up output. The kingdom will deliver in full what most of the refiners asked for in May-loading cargoes, while …

Saudi Arabia remains confident that the OPEC+ agreement to increase output over the next three months was the right move, said its energy minister. “It’s still a good decision,” Prince Abdulaziz bin Salman said in an interview in Riyadh on Thursday. “I don’t see anything yet that disturbs us, me …

Russian President Vladimir Putin and Crown Prince of Saudi Arabia Mohammed bin Salman Al Saud in a telephone conversation on Thursday, April 1, raised the topic of OPEC+, among other things, Presidnetial spokesman Dmitry Peskov said on Friday. “The OPEC+ topic was discussed during this conversation, we appreciate the friendly …

The OPEC and its allies have agreed to gradually increase oil production in the coming months, moving cautiously in pace with the recovery of the global economy from the COVID-19 pandemic, reports stated on Thursday. The oil cartel and its allied nations agreed to add back some 2 million barrels …