Tag Archives: Saudi Arabia

Saudi Aramco plans to boost its gas production to 23 billion standard cubic feet (scf) a day from 14 billion scf now.

The biggest boost to Saudi exports to China comes from contracts inked with new refineries starting up this year and next.

The output from the troika is the fastest-growing element in global oil supplies.

Aramco said last week it would sign five crude oil supply agreements with Chinese customers.

The spending would be in addition to the oil giant'.s proposed purchase of a majority stake in SABIC.

Oil price hit their low for the year Friday as U.S. production continued to grow.

The kingdom is considering slashing oil production by up to 1.4 million barrels per day (bpd) with OPEC members.

Aramco signed five new crude oil supply agreements with five Chinese customers in Shanghai in early November.

OPEC and 10 non-OPEC partners. led by Russia. will meet December 6-7 to decide on output policy.

Iran is OPEC’s third-largest producer. providing more than 2 percent of global oil output.