Tag Archives: Saudi Arabia

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 …

Saudi Aramco rose the most in 10 months in Riyadh trading after the government allowed it to cut dividends and redirect the cash into new investments to fulfill the crown prince’s economic plans. It would relieve some of the pressure on the world’s biggest oil company, which had to cut …

Saudi Arabia has not yet decided its position on OPEC+ oil production quotas, a Saudi Arabian source told S&P Global Platts on March 30, two days ahead of the bloc’s meeting to decide on May output levels. The source denied a report that the kingdom was prepared to support extending …

Saudi Aramco will ensure China’s energy security remains its highest priority for the next 50 years and beyond as new and existing energy sources run in parallel for some time, chief executive officer Amin Nasser told the China Development Forum on Sunday, March 21. Saudi Arabia, the world’s biggest oil …

Saudi Arabia’s energy ministry said it had contained a fire following a March 19 drone attack on its Riyadh refinery, with no interruption to oil supplies and no casualties, in the latest strike claimed by Yemen’s Iranian-backed Houthi rebels. The Houthis had earlier announced a hit on an unspecified Saudi …

Indian state refiners are planning to cut oil imports from Saudi Arabia by about a quarter in May, in an escalating stand-off with Riyadh following OPEC’s decision to ignore calls from New Delhi to help the global economy with higher supply. Two sources familiar with the discussions said the move …

Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al Saud signed, on March 11, a memorandum of understanding (MoU) with Germany to produce hydrogen. On the sidelines of signing the memorandum, the Saudi Minister said that the Kingdom will secure a leading position in the production of hydrogen since …

Dmitry Peskov recalled that Russia’s Deputy Prime Minister Alexander Novak was praised by Putin for his work MOSCOW, March 12. /TASS/. Russian President Vladimir Putin did not have any talks with the Saudi Arabian leadership ahead of the OPEC+ decisions on oil production cap, Kremlin spokesman Dmitry Peskov told TASS. …

Saudi Arabia and Russia pledged to continue cooperation on the OPEC+ production cut agreement, as Saudi foreign minister Prince Faisal bin Farhan said March 10 the group is aiming for a “fair” price for crude oil. “I would like to assure that we and Russia would like a oil price …

Oil prices rose on Tuesday on expectations of a recovery in the global economy after U.S. Senate approval of a $1.9 trillion stimulus bill and on a likely drawdown in crude oil inventory in the United States, Reuters reported. But a stronger dollar and receding fears of oil supply disruption …