Tag Archives: Saudi Arabia

Saudi Arabia held firm on its position in the price war with Russia, saying on Friday that the kingdom hasn’t had any contacts with Moscow about oil production cuts or about enlarging the OPEC+ alliance.

Saudi Arabia has denied it has had any contact with Russia’s Energy Ministry over the possibility of a new OPEC+ deal to rebalance global oil markets. A statement from the Saudi Energy Ministry dismissed reports from Moscow that there had been discussions between Russia and the Kingdom aimed at resurrecting …

Saudi Arabia’s carefully nurtured reputation for being a reliable oil producer and its aspiration to be seen as a responsible global leader will be in jeopardy if the kingdom continues to pursue its volume war. Pressing on with such a tactic in the midst of the worst global health emergency …

Saudi Arabia is pricing the crisis, but going back to the negotiations table may be difficult. The global crude supplies are entering the market at a time when global demand for crude has contracted for the first time in 10 years. By entering into a fierce oil war, Saudi Arabia …

Right after Saudi Arabia-led OPEC and Russia broke up their pact to keep oil supply and prices in check, some in the U.S. oil industry were optimistic that oil prices would go back up to $65 by the end of the year regardless of the end of the production restrictions. …

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 …