Tag Archives: Saudi Arabia

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 …

Key questions for the OPEC+ meeting will be whether Saudi Arabia rolls back its voluntary cut of 1 million bbl/d and whether there is room for an additional increase in supply from the whole oil producer group. Saudi Arabia and Russia have differences over a potential deal among OPEC+ oil …

A masterplan for Pakistan’s largest oil city, including a $10 billion Aramco oil refinery project, is underway and expected to be ready before the end of the year, Pakistani officials said this week. The proposed mega oil city will be developed on 88,000 acres of land in the Gwadar district …

Saudi Arabia and Russia are once again heading into an OPEC+ meeting on opposite sides of a crucial debate about the oil market. Riyadh is publicly urging fellow members to be “extremely cautious,” despite prices rebounding to a one-year high. In private, the kingdom has signaled it would prefer that …

Saudi Arabia and Russia would like to continue their coordination to support oil market stability, the leaders of the two most influential members of the OPEC+ production pact said during a telephone conversation this week. Russia’s President Vladimir Putin and Saudi Arabia’s Crown Prince Mohammed bin Salman exchanged views on …

OPEC and its allies can celebrate their success in steadying world oil markets when they gather this week. But the coalition will soon be faced with some tough choices. Last month’s pledge by Saudi Arabian Energy Minister Prince Abdulaziz bin Salman to slash production by a further 1 million barrels …

Oil prices rose on Monday, boosted by the start of Saudi Arabia’s production cut of 1 million barrels per day (bpd) and with positive reports on the new coronavirus vaccines. International benchmark Brent crude was trading at $55.38 per barrel at 0654 GMT for a 0.65% rise after closing the …