Tag Archives: Saudi Aramco

State oil producer Saudi Aramco slashed its official selling prices for April crude sales to some of the lowest levels in decades, undercutting rivals. The uneasy truce that settled over oil markets this month as some of the world’s largest producers began cutting output belies the raging competition among exporters …

Saudi Arabia will emerge as the victor of the oil price war that sent global crude markets into a spin last month, according to two experts in the energy industry. Jason Bordoff, professor and founding director of the Center for Global Energy policy at New York’s Columbia University, said: “While …

It is becoming increasingly clear that the ongoing oil demand destruction, COVID-19 lockdowns and financial crisis are going to significantly impact Saudi Arabia. In a dramatic appearance, Saudi Minister of Finance, Mohammed Al Jadaan, stated that the Kingdom is going to take any measures necessary to counter the effects of …

Saudi Arabian oil official on Saturday refuted the conclusion of an analytics firm that the country’s oil exports to the US dramatically increased in the last month. TankerTrackers.com said on Thursday that Saudi Arabian oil exports to the US more than doubled from February to March as oil prices crashed. …

Saudi Arabia might have just signed off on one of the most notable oil output deals in history, but challenges lie ahead as the kingdom faces keen competition from rival suppliers to the prized Asian market. That perhaps explains why the de-facto leader of OPEC slashed its official selling prices …

Saudi Aramco’s shares continued to decline during trading yesterday, despite Sunday’s historic agreement to reduce oil production that was reached by OPEC and the major oil producers in the world. Aramco shares were down 1.7 per cent by the end of trading yesterday having dropped 1.25 per cent on Sunday. …

Traders and refiners expect Saudi Aramco to cut pricing for its flagship crude to the lowest in at least two decades, escalating a price war with rival suppliers even as the coronavirus throttles global demand. The world’s biggest oil exporter is expected to slash its official pricing for May sales …

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 …

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 …