Tag Archives: Saudi Arabia

Saudi Arabia has entered into joint ventures with two Chinese solar firms to build solar plants in the country worth some $3 billion, highlighting the oil-rich kingdom’s campaign to boost renewable power production. In the first JV, publicly-traded, China-based JinkoSolar (NYSE:JKS) has announced that it will form a joint venture …

While countries like Brazil and the United States are often seen as major pressures on OPEC oil production policies, Saudi Arabia’s ambitious Vision 2030 might pose an even greater challenge. This transformative economic strategy, spearheaded by Crown Prince Mohammed bin Salman, aims to shift the kingdom’s reliance away from oil, …

The Kingdom of Saudi Arabia has discovered seven oil and gas deposits in the Kingdom’s Eastern Province and Empty Quarter, the Saudi Press Agency reported. According to SPA, Prince Abdulaziz bin Salman, energy minister announced the discovery on Monday, citing that Saudi Aramco had discovered two unconventional oil fields, a …

Falling crude oil exports from Saudi Arabia accounted for half of the 1 million barrels per day (bpd) drop in global seaborne shipments in June compared to May, tanker-tracking data compiled by Bloomberg showed on Tuesday. The estimated decline of about 1.08 million bpd in global crude oil shipments was …

The Kingdom of Saudi Arabia is poised to raise at least $11.2 billion from the ongoing secondary offering of shares in Saudi oil giant Aramco, Bloomberg reported on Friday, citing anonymous sources with knowledge of the matter. The Saudi government is expected to sell the 1.545 billion shares of Aramco …

Saudi Arabia, the world’s biggest oil exporter, may cut prices for most crude grades it sells to Asia in July, the first cut in five months, as Middle East benchmarks and margins for Asian refiners have weakened, refining sources said. The July official selling price (OSP) for flagship Arab Light …

Saudi Arabia is preparing for a multi-billion-dollar share sale for its oil and gas company Aramco, potentially as early as June, reported Reuters, citing sources. The sources added that the divesture could fetch approximately $10bn (SR37.5bn) for the Saudi government. The sale’s specifics are still being worked out, and people …

Saudi Arabia, the world’s top crude oil exporter, saw its crude shipments rise in March to the highest level in 9 months, the latest data by the Joint Organizations Data Initiative (JODI) showed on Monday. Saudi crude exports rose by 96,000 barrels per day (bpd) in March compared to February, …

Saudi Aramco is currently eyeing potential investments in new energies outside Saudi Arabia, the state oil giant’s chief executive officer Amin Nasser said on Monday. Aramco’s top executive was speaking on the sidelines of the Special Meeting on Global Collaboration, Growth, and Energy for Development by the World Economic Forum …

Aramco has served notices of temporary suspension to two oilfield service contractors, Zawya has reported, citing the companies. According to one of them, Borr Drilling Limited, the suspension will begin this month and last for a year, the report said. Borr Drilling operates the Arabia I rig in Saudi Arabia …