Tag Archives: Saudi Arabia

Forging an oil alliance between the United States and OPEC’s top producer Saudi Arabia is one of “many, many ideas” being floated by US policymakers but it is uncertain whether it will become a formal proposal, the US energy secretary told Bloomberg TV on Monday. “I don’t know that that’s …

Saudi Aramco’s reliable production and supply of energy is the cornerstone of the company, Amin Nasser, president and chief executive officer, said in a statement. “At all our sites, we have in place on-going, active prevention programs as well as detailed contingency plans and leading medical support services to minimize …

Immense damage to its revenue streams by the raging COVID-19 pandemic and an ill-timed oil price war has forced Saudi Arabia to unleash a massive emergency stimulus package worth $32 billion to succor its slowing economy. Saudi Arabia has 344 confirmed COVID-19 cases as of Saturday but no deaths. The …

According to research conducted by the Iranian Parliament Research Center (IPRC), the Islamic Republic of Iran stood higher than Turkey, Saudi Arabia, South Africa and Brazil in Industrialization Intensity Index.

Saudi Aramco reported a net profit of $88.2 billion for 2019, down from $111.1 billion a year earlier as low oil prices and production curbs took their toll on the world’s largest oil company. Free cash flow was also lower, at $78.3 billion, down from $85.8 billion in 2018, but …

Attempts by some OPEC members to mediate between the cartel’s leader, Saudi Arabia, and Russia have failed and this Wednesday’s meeting of an OPEC+ technical committee has been scrapped amid the “full on war” between the friends turned foes, sources told Reuters on Monday. The meeting of the Joint Technical …

Russia, the world’s largest energy exporter, said the current oil-price slump was expected and it doesn’t plan talks with Saudi Arabia for the time being. The decision to keep the Saudis at arm’s length comes as oil tumbles to a four-year low, continuing its slide after the collapse of OPEC+ …

Those with a functioning memory may have thought that last week’s decision by Saudi Arabia to maximize oil production to crash oil prices and bankrupt U.S. shale producers was an early April Fool’s Day joke. Apparently, though, it is not, and collective amnesia seems to have gripped senior Saudis and …

In a reckless move characteristic of his leadership, Saudi Crown Prince Mohammad Bin Salman, known as MBS, spurred an oil crisis this week that cratered financial markets and could devastate American oil producers. After Saudi Arabia indicated it will massively ramp up oil production, oil prices experienced their biggest one …

American oil producers are slashing their budgets for new operations for the rest of this year, which means far fewer new rigs, a painful downturn for dozens of oil-field services companies and the certainty of layoffs, from Texas to North Dakota. Worldwide, the coronavirus pandemic has kneecapped the petroleum business, …