OPEC and its allies headed into a two-day meeting with ministers still seeking a compromise on proposals to delay a production boost, after failing to reach consensus in talks on Sunday night.
Saudi Aramco has signed new international technology deals, with local content playing a major role.
Frustrated UAE representatives are sending subtle but strong signals that they may be the first in the OPEC+ oil producers group to break free and go it alone.
Yemeni authorities have agreed to allow a United Nations expert mission to the FSO Safer, with the expectation that this will take place early in 2021.
Saudi Arabia has confirmed a missile attack on a fuel tank in the city of Jeddah, claimed by Houthi rebels in Yemen.
CGG’s Sercel has won a contract to provide land seismic equipment for harsh environment work in Saudi Arabia.
Saudi Arabia’s Public Investment Fund (PIF) has increased its stake in ACWA Power to 50%, from 33.6%.
OPEC+ said oil producing countries must be ready to act when the group gathers for its next full ministerial meeting in two weeks, the latest indication the cartel is preparing to delay a production increase.
The Red Sea Development Co. (TRSDC) has contracted ACWA Power to provide renewable energy to the tourist site.
Fitch has cut the outlook of Saudi Arabia, Aramco and Sabic to negative on concerns of the sovereign’s weakening balance sheet.
Mergers and acquisitions have been slowed by the COVID-19 outbreak. But as companies embrace the energy transition opportunities will arise
Saudi Aramco’s pre-tax income fell 44% in the third quarter, to $24.7 billion from $44.07bn.
The OPEC+ alliance warned of a “precarious” outlook as a resurgent pandemic hurts oil demand, dropping further hints about a potential change of policy next month.
Oil steadied as Saudi Arabia vowed that OPEC and its partners will do what’s necessary to balance the market.
Saudi Aramco has suspended the contract for the Main Pass I jack-up for up to 12 months, Shelf Drilling has reported.
Oil was steady near $43 a barrel in London before an OPEC+ meeting to assess the state of the market as demand comes under pressure once again from a resurgent coronavirus.
Saudi Aramco has sent 40 tonnes of blue ammonia to Japan, for use in zero-carbon power generation.
Saudi Arabia has written to the United Nations Security Council warning of an “oil spot” has been detected offshore Yemen.
Oil climbed on Thursday after Saudi Arabia showed its determination to stop OPEC+ members exceeding their production quotas.
Oil has climbed ahead of an OPEC+ meeting this week that will assess the group’s production cuts as the recovery from virus-driven demand destruction falters.
Oil extended losses after its biggest one-day drop in more than two months as growing doubts over the strength of the global demand recovery along with continued weakness in stocks soured market sentiment.
The Gulf is slated to earn $270 billion less in oil revenue compared to last year. This is to a large extent because the region's economic heavyweight, Saudi Arabia, has been sinking deeper into recession amid the coronavirus pandemic.
OPEC+ emphasized the need to stick closely to its planned oil-production cuts to guard against the market recovery being undermined by a resurgence of the coronavirus.
No company has been immune from the headwinds facing the global oil industry, even Saudi Aramco.
Oil markets will “barely feel” the impact of additional production by Opec and its allies as demand ramps up across the world, Saudi Arabia’s energy minister said on Wednesday.