Saudi Arabia
News
March 08, 2017
On Tuesday morning, Saudi Arabian Energy Minister Khalid Al-Falih delivered the following keynote address to the CERAWeek audience in Houston. This address contained a number of strategies and forwarding-looking initiatives.
News
March 08, 2017
McDermott International, Inc., has announced that it plans to construct offshore production solutions in Saudi Arabia. McDermott signed a memorandum of understanding (MOU) with Saudi Aramco for a long-term land lease at the new maritime facility at Ras Al Khair in Saudi Arabia, currently being developed by Saudi Aramco.
News
March 08, 2017
Saudi Arabia and Russia, the architects of an oil production cut that has stabilized prices, presented a united front on compliance just as rising U.S. inventories have sparked doubts about the OPEC and non-OPEC deal.
News
March 07, 2017
During a plenary session at CERAWeek led by IHS Markit, Saudi Arabia’s Energy Minister Khalid A. Al-Falih said that his country has an interest in promoting the economic health of the U.S. economy and its E&P industry.
News
March 02, 2017
Saudi Arabia continued to lead OPEC’s efforts to cut production, helping the organization get closer to a goal set out in a historic accord last year.
News
March 01, 2017
Saudi Arabia’s shipments of crude oil fell last month, indicating OPEC’s biggest producer is continuing to cut supplies by more than it originally pledged.
News
March 01, 2017
Saudi Arabian Oil Co expanded its ownership of refineries and petrochemical plants in Indonesia and Malaysia with investments totaling $13 billion as it prepares for what may be the biggest ever initial public offering by bulking up its business in Asia, its largest market.
News
February 27, 2017
Saudi Arabia is seeking ways to boost foreign investment in its bourse, almost two years after easing access to the one of the world’s most restricted exchanges.
News
February 26, 2017
The exact dollar value of Saudi Aramco may be up for debate, but the listing of the world’s biggest company will be priceless for the kingdom’s markets.
News
February 23, 2017
Saudi Arabia has said oil giant Saudi Aramco is worth more than $2 trillion, enough to consume Apple Inc. twice, and still have room for Google parent Alphabet Inc.
News
February 20, 2017
Russia overtook Saudi Arabia as the world’s largest crude producer in December, when both countries started restricting supplies ahead of agreed cuts with other global producers to curb the worst glut in decades.
News
February 20, 2017
Saudi Arabia boosted oil exports and production last year to the highest monthly averages on record as the global crude market endured oversupply.
News
February 17, 2017
Saipem has been awarded new contracts and the extension of pre-existing agreements in the onshore drilling sector in Saudi Arabia, Morocco, Bolivia and Argentina for a total value of $240 million.
News
February 14, 2017
The nation most identified with its massive oil reserves is turning to wind and solar to generate power at home and help extend the life of its crucial crude franchise.
News
February 13, 2017
Saudi Arabia told OPEC that it cut oil production by the most in more than eight years, going beyond its obligations under a deal to balance world markets.
News
February 09, 2017
Saudi Aramco and Baker Hughes announced today the first installation of the TransCoil rigless-deployed electrical submersible pumping (ESP) system, which is designed to help operators bring wells on production faster and lower the costs associated with installing and replacing ESPs.
News
February 02, 2017
Saudi Arabia, the world’s largest crude exporter, raised pricing for March sales to buyers from the U.S. to Asia as output cuts by OPEC and other producers shore up oil prices.
News
February 01, 2017
President Donald Trump’s energy policies are good for the petroleum industry and Saudi Arabia sees no problem with growth in U.S. oil production as long as it’s in line with demand, Saudi energy minister Khalid Al-Falih said.
News
January 26, 2017
McDermott International announced it has been awarded a substantial contract from Saudi Aramco for engineering, procurement, construction and installation (EPCI) services in the Safaniya and Zuluf fields offshore Saudi Arabia. The brownfield project is part of a wider program to replace aging facilities with electrified platforms to enhance the potential of the fields. The contract includes the design, procurement, fabrication, transportation, installation, testing and pre-commissioning of nine slipover jackets and decks, subsea pipelines and cables, as well as the associated demolition of certain facilities, in the Safaniya field. The contract also includes one single well observation platform in the Zuluf field.
News
January 23, 2017
Russia overtook Saudi Arabia as China’s top oil supplier last year for the first time ever amid the ongoing battle for market share in the world’s biggest energy market.
News
January 23, 2017
OPEC’s two biggest suppliers to the U.S. shrugged off a vow by President Donald Trump to end dependence on the group’s oil, saying the world’s biggest economy would continue to need crude from abroad.
