Tag Archives: Saudi Arabia

Saudi Arabia’s 2060 net-zero emission target may be derailed by “unforeseen circumstances” because achieving the target depends on a number of factors, including evolution of technology, the country’s energy minister said Nov. 3. “Depending on what happens, we could bring that [2060] date much earlier and I hope much earlier, …

Saudi Aramco said oil-output capacity across the world is dropping quickly and companies need to invest more in production. It’s a “huge concern,” Chief Executive Officer Amin Nasser said in an interview in Riyadh, Saudi Arabia’s capital. “The spare capacity is shrinking.” His comments come with crude prices having soared …

Saudi Arabia is aiming for a net-zero carbon target by 2060, Crown Prince Mohammed bin Salman said at the Saudi Green Initiative Forum (SGI) on Saturday. The kingdom plans to cut 278 million tonnes of carbon emissions by 2030, he said in recorded comments. This would entail investments of more …

Saudi Arabia maintained its position as the largest supplier of crude oil to China for the 10th consecutive month in September, Reuters reported, citing China’s General Administration of Customs. Oil supplies from Saudi Arabia to China rose 2% year-on-year (YoY) in September, to 7.96 million tons or 1.94 million barrels …

OPEC leader Saudi Arabia dismissed calls for speedier oil output increases on Thursday, saying its efforts with allies were enough and protecting the oil market from the wild price swings seen in natural gas and coal markets. “What we see in the oil market today is an incremental (price) increase …

Saudi Aramco has tapped banks to arrange a loan with a size between $12 -14 billion, which it plans to offer to buyers of its gas pipeline network, sources told Reuters. According to the sources, banks that financed a $12.4 billion acquisition of the company’s oil pipelines earlier this year …

Petrodollars are once again flowing in for Saudi Arabia. The kingdom is earning more money from oil exports than at any time since 2018, as the global economic recovery and OPEC+ production cuts boost prices. The producers’ cartel meets on Monday and has signaled it will continue with a gradual …

Saudi Basic Industries Corp., majority owned by Saudi Aramco, said Sept. 19 that its petrochemical joint venture with ExxonMobil near Corpus Christi, Texas, started commissioning ahead of its expected fourth-quarter start-up. The Sept. 19 confirmation follows a tour of the facility in August when the plant manager, Paul Fritsch, said …

Saudi Arabia’s crude oil exports in July rose to their highest since January, the Joint Organization Data Initiative (JODI) said on Sepy. 16. The Kingdom’s crude oil exports rose to 6.327 million barrels per day (bpd) in July, up from 5.965 million bpd in June. Total exports including oil products …

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 …