Saudi Arabia agrees ‘memorandum of cooperation’ with Britain in energy sector – SPA
Saudi Arabia’s cabinet agreed on Tuesday on “a memorandum of cooperation” with Britain in the energy sector, Saudi state news agency SPA reported citing a cabinet statement. There were no further details mentioned in the statement. Reuters News
Saudi Arabia’s oil production increased by 20% in 8 months
Saudi Arabia’s average oil production increased since the beginning of 2022 until the end of August by 20 percent, a government document seen by Saudi Gazette showed. The Kingdom’s production reached around 10.5 million barrels per day, higher by 1.8 million barrels per day compared to the same period last year. The increase […]
Oman-Saudi bilateral trade soars to over $3bln in H1 2022
Bilateral trade between the Sultanate of Oman and Saudi Arabia more than doubled to exceed RO 1.249 billion during the first half of 2022, compared to RO 595 million in 1H of 2021, entailing an increase of 210%. Saudi Arabia’s exports into Oman were valued at RO 831 million while Oman’s exports to Saudi Arabia […]
UAE supports Saudi comments on possible oil output cuts, source says
The United Arab Emirates is aligned with Saudi Arabia’s thinking on crude oil markets and supportive of its recent comments, a source with knowledge of the matter told Reuters on Friday. OPEC’s de facto leader Saudi Arabia on Monday flagged the possibility of introducing production cuts to balance an oil market it described as […]
Saudi Arabia’s Kingdom Holding invests in Russian energy companies
Saudi Arabia’s Kingdom Holding invested in Russian energy groups Gazprom, Rosneft and Lukoil between Feb. 22 and March 22, it said on Twitter on Sunday. Many Western nations have imposed sanctions on Russian energy firms and their executives following Russia’s invasion of Ukraine on Feb. 24. The Kingdom Holding investments fall within the company’s 12.8 […]
Saudi Aramco’s Amin Nasser: a homegrown engineer who reached the top
At an industry event this year in Riyadh, the Saudi energy minister paused at about 9 p.m. in front of some 1,000 people and told them it was bedtime for Amin Nasser, the chief executive of state-owned oil producer Saudi Aramco. He was not joking. Over a career of four decades, Nasser has earned […]
Saudi Aramco profit soars on higher prices and refining margins
State oil giant Saudi Aramco reported a soaring 90% rise in second-quarter profit on Sunday, beating analyst expectations and propelled by higher oil prices, volumes sold and refining margins. The company expects “oil demand to continue to grow for the rest of the decade, despite downward economic pressures on short-term global forecasts,” Aramco chief executive […]
Korean firm, Aramco to set up special steel project at Spark
South Korea’s steel conglomerate SeAH Group has set up a joint venture with Saudi energy giant Aramco to produce special steel pipes, a report said. SeAH Changwon Integrated Special Steel Corp, the group’s special steel maker, said the joint venture, SeAH Gulf Special Steel Industries (SGSI), will accelerate the expansion of the group in the […]