OPEC sees rising crude demand in 2017 as Saudis pump near record
OPEC forecast higher demand for its crude next year as the global surplus fades, while Saudi Arabia pumped near-record levels amid peak summer consumption.
Saudi Arabia
Russia and Saudi Arabia in race for Chinese business
Russia and Saudi Arabia are going head-to-head in a bid to lock-down the Chinese import market.
Saudi foreign assets rise in May for first time in 16 months
Saudi Arabia’s foreign-currency reserves rose modestly in May for the first time in 16 months, probably due to a $10 billion syndicated loan concluded in the previous month.
Saudi energy minister sees oil market supply and demand “almost balancing”
Oil markets are improving as supply and demand are seen to be almost balancing, according to Saudi Arabia's energy minister.
OPEC oil revenue plunges $438billion to 10-year low
OPEC said its oil revenue plunged by $438billion to a 10-year low last year, as an increase in export volumes failed to compensate for the collapse in prices.
Permasense appoints Saudi agent
Corrosion and erosion monitoring specialist Permasense has appointed STARC (Saudi Trading And Research Company Ltd) to support it expanding Middle East operation by becoming its representative in Saudi Arabia.
Saudi electricity plans two solar plants in first global tender
Saudi Arabia’s state electricity utility is seeking bids from international developers to build two solar-power plants in the kingdom’s northern region.
Saudi Aramco raises most Asia crude pricing amid robust demand
Saudi Arabia, the world’s largest crude exporter, raised pricing on most of its oil grades for sales to Asia in July after the nation’s oil minister said demand was robust.
OPEC to hold a steady course – keeps on pumping
OPEC plans to stick to its policy of unfettered oil production after members failed to agree on a new output ceiling, according to a delegate at the group’s meeting in Vienna.
Saudi Arabia considers surprise deal to repair OPEC’s divisions
Saudi Arabia is ready to consider a surprise deal with fellow OPEC members, attempting to mend divisions that had grown so wide many dubbed the group as good as dead.
Saudi’s oil policy may be working, but issues remain for Kingdom
In the rarefied world of oil macroeconomics there appears to be widespread - if grudging - admiration for Saudi Arabia's refusal to blink over its policy to continued high levels production as the oil price crashed.
Saudi Aramco plans to boost capacity on Red Sea oil pipeline
Saudi Aramco, the world’s largest crude producer, plans to increase the capacity of its main cross-country pipeline by 40 percent as the company expands oil fields in the eastern part of the nation and builds refineries on the western coast.
Citigroup says Saudi Arabia is best emerging market for deals
Saudi Arabia’s planned privatisations, including a share sale in the world’s biggest oil company, represent the biggest investment banking opportunity in emerging markets, according to Citigroup Inc.
Battle inside OPEC eases as Saudi oil strategy finally pays off
Saudi Arabia has been fighting with fellow OPEC members since the oil rout started two years ago.
Technip wins Saudi Arabia deal
Technip has landed an engineering deal in Saudi Arabia with CTCI.
Saudi Arabia’s economic plan shows it’s just not that into OPEC
Saudi Arabia, one of the founders of OPEC, is sounding the group’s death knell.
GE agrees to $3billion Saudi Arabia investments away from oil
General Electric Co. agreed to take part in $3 billion of Saudi Arabia investments as the desert kingdom seeks to diversify its economy away from crude.
US remains world’s largest producer of petroleum and natural gas
The United States produced more than twice the petroleum and natural gas hydrocarbons as Saudi Arabia produced in 2015.
Cape’s margins squeezed but orders remain solid
Cape, which provides support services to the energy and natural resources sectors, reported mixed trading conditions in the first quarter of 2016 with margins lower than expected but with "solid" order intake and revenue.
OPEC said to head to June talks without plan for supply cap
There are currently no proposals on the table for OPEC to revive limits on crude output at its June meeting after the failure of talks to freeze production last month, according to six delegates from the group.
Saudi oil output expected to edge up closer
Saudi Arabia's oil output is expected to edge up closer to record highs in the coming weeks to meet Summer demand for power.
Saudis approve reform plan to reduce reliance on oil
Saudi Arabia’s Cabinet has approved a plan laying out economic reform priorities for the next 15 years which are aimed at moving the kingdom away from its reliance on fossil fuels.
Aramco said to expand oilfield in May to maintain Saudi capacity
Saudi Arabian Oil Co. will complete the expansion of its Shaybah oilfield by the end of May, allowing the biggest crude exporter in the world to maintain the level of its total production capacity, according to two people with knowledge of the plan.
Saudi Arabia said to pick JPMorgan, banker Klein for Aramco IPO
JPMorgan Chase & Co. and Michael Klein, the former Citigroup Inc. investment banker who runs his own boutique, have been selected to advise on state-owned Saudi Arabian Oil Co.’s initial public offering, according to people familiar with the matter.
Saudis want to double their stock market for a post-oil economy
Saudi Arabia plans to almost double the size of its stock market, among the most closed in the world, by adding dozens of companies and making it easier for foreigners to invest.