Tag Archives: Saudi Arabia

Saudi Arabia is expected to announce in a few days little changes to the price of its crude going to Asia in April, amid a rise in Middle Eastern oil benchmarks, a Reuters survey of refiners showed on Friday. Saudi Aramco, the world’s top crude oil exporter, is set to …

The Saudi Ministry of Energy has announced a substantial increase in gas reserves at the Jafurah field, operated by state-owned Aramco, marking a significant boost for the country’s energy sector. As per the Saudi Press Agency (SPA), the additional reserves comprise 15 trillion standard cubic feet of gas and two …

An additional 15 trillion standard cubic feet of gas have been proven at Saudi state oil company Aramco’s Jafurah field, Energy Minister Prince Abdulaziz bin Salman said on Sunday. Reserves at Jafurah have reached 229 trillion cubic feet of gas and 75 billion barrels of condensates, Prince Abdulaziz said in …

Saudi state oil giant Aramco may issue a new bond this year to optimize its capital structure, according to its chief financial officer Ziad Al-Murshed. In the bond issue, Saudi Aramco would be looking at longer bond terms of up to 50 years, the executive said at the Saudi Capital …

In 1943 President Franklin Roosevelt declared that “the defense of Saudi Arabia is vital to the defense of the United States.” The reason: Ten years earlier the desert kingdom had granted a concession to Standard Oil of California to explore for oil. It turned out there was some, in fact, …

Saudi Power Procurement Company (SPPC) has announced that a total of 21 top global utility project developers including Siemens, Samsung, GE, EDF, Korea’s Kepco and Marubeni as well as regional heavyweights Acwa Power and Taqa have been prequalified for development of four power plants across the kingdom with a total …

Amid rising Red Sea shipping risks due to attacks on vessels from Yemen’s Houthis, Saudi Arabia has increased exports from its northern Red Sea terminal to avoid the danger zone, according to Bloomberg and Reuters. Oil exports from Saudi Arabia’s Muajjiz terminal saw a 580,000-barrel-per-day increase in January, based on …

The Saudi Arabian Oil Group (Aramco), the world’s largest oil company, will continue to ship oil and fuel through the southern Red Sea, Trend reports. “We are navigating through the Red Sea with our oil and oil product cargoes, we find the associated risks manageable,” the company’s spokesman said. Aramco’s …

Russia leapfrogged Saudi Arabia to become China’s top crude oil supplier in 2023, data showed on Saturday, as the world’s biggest crude importer defied Western sanctions to purchase vast quantities of discounted oil for its processing plants. Russia shipped a record 107.02 million metric tons of crude oil to China …

Saudi Arabia will cut key crude oil prices for buyers in all regions, including its main Asia market, for February amid persistent weakness in the market, Bloomberg reported. State producer Saudi Aramco reduced its flagship Arab Light price to Asia by $2 to $1.50 a barrel above the benchmark. Oil …