Saudi Arabia
News
October 05, 2023
“The 2023 forecast has been further revised downward in the past 12 months following the oil-production cuts announced by OPEC+ in October 2022 and April 2023, and the additional cuts announced by Saudi Arabia in June 2023,” according to the report.
News
October 04, 2023
The leaders of the OPEC+ coalition announced the plans in separate official statements on Wednesday. Riyadh has slashed crude oil production by 1 MMbpd, and Moscow is curbing exports by 300,000 bpd, on top of earlier cuts made with fellow OPEC+ nations.
News
September 05, 2023
The leader of OPEC will continue its production cutback of 1 MMbpd until December, according to a statement published by the state Saudi Press Agency on Tuesday. Russia’s export reduction of 300,000 bpd will be extended for the same duration, Deputy Prime Minister Alexander Novak said in a separate statement.
News
August 30, 2023
The Saudis introduced the additional production curb in July — on top of cutbacks it’s already made with partners in the OPEC alliance — and has been reviewing its extension on a monthly basis.
News
July 26, 2023
Riyadh introduced the additional cutback this month — on top of output curbs it’s already making with fellow OPEC+ producers — to shore up oil markets against a fragile economic backdrop.
News
June 14, 2023
Sarens/ANPC was responsible for transporting heavy equipment from the supplier's facility in Rabiq (western Saudi Arabia) to Marjan's facility near Safanya (northeastern Saudi Arabia) via several multi-axle vehicles.
News
June 13, 2023
Even before the kingdom announced its surprise new measures just over a week ago, the Organization of Petroleum Exporting Countries expected that world inventories would deplete rapidly in the second half amid a post-pandemic recovery in fuel demand.
News
June 05, 2023
Global oil demand is forecast to hit a record high this year, but the additional cuts announced on Sunday will bring Saudi production to about 9 MMbpd in July, the lowest since June 2021 when output was still recovering from the depths of the Covid-19 pandemic.
News
May 02, 2023
The Offshore Technology Conference, taking place in Houston, Texas, sees oil and gas companies answering one very important question: what are they doing to advance the global energy transition? In a session titled “Accelerating the energy transition in Saudi Arabia: Oil and gas sector decarbonization and the path to hydrogen,” industry leaders gathered to discuss emerging technologies and exciting opportunities that will help Saudi Arabia and other countries meet net-zero by 2050.
News
May 02, 2023
The Chinese and French energy giants are in separate discussions with Saudi Aramco about the plans that may include the construction of facilities to export the fuel as liquefied natural gas (LNG), some of the people said, asking not to be identified because the matter is private.
News
March 23, 2023
The proposed collaboration aims to contribute to the digital transformation of the oil and gas sector in Saudi Arabia by leveraging advanced 4G and 5G technologies capable of providing secure, fast and reliable communications to satisfy business critical requirements of industries.
News
March 13, 2023
The results were underpinned by stronger crude oil prices, higher volumes sold and improved margins for refined products, while Aramco continues to strengthen its oil and gas production capacity to meet anticipated future demand.
News
January 31, 2023
According to Ahmad A. Al-Sa’adi, Aramco’s Executive Vice President of Technical Services, Aramco Digital Company will provide “state-of-the-art AI and emerging technology expertise in a vital sector of the economy.”
News
January 11, 2023
Flowserve is working with three engineering, procurement and construction companies. These companies will utilize a diverse portfolio of pumps, mechanical seals and sealing systems for different components of the Jafurah project.
News
December 29, 2022
World Oil was on the front lines of every breaking news story in 2022. From positive production predictions and interventions from the White House to billion-dollar profit exploration setbacks, our readers had plenty to keep them on their toes. Read more of this year's top headlines here.
News
December 12, 2022
Saudi Aramco is talking with potential backers for its $110 billion Jafurah gas development as the oil producer plans to exploit one of the world’s largest unconventional gas fields.
News
November 28, 2022
Viking Completion Technology announced on Monday multiple contract wins valued at more than $7 million to deliver its full portfolio of well completion manufacture and design services to major MENA operators, further cementing its strong regional presence.
News
November 17, 2022
Saudi Arabia has cut oil exports sharply this month as the kingdom delivers on an OPEC+ agreement to shore up global crude markets.
News
November 14, 2022
Saudi Arabia’s wealth fund is considering an initial public offering of oil and gas driller ADES International Holding by the first half of next year, as it accelerates efforts to raise billions of dollars for new investments, sources said.
News
November 10, 2022
Saudi Arabia has established a carbon-capture sequestration center, as the state oil giant seeks to reach its goal of net-zero emissions by 2060.
News
November 01, 2022
OPEC’s crude production held steady last month after the group pledged a symbolic cutback to stabilize market sentiment, with output up 30,000 bpd to 29.98 million barrels ahead of deeper cuts this month.
