Aramco Establishes Integrated Corporate Development Organization
The world’s largest oil company, Saudi Aramco, has announced the establishment of an integrated Corporate Development organization in an effort to optimize the company’s portfolio.
Saudi Arabia | Egypt Oil & Gas - Part 12
Saudi Aramco’s Profit Declines 73% in Q2
The major Saudi oil company, Aramco reported that its profit declined by 73% to 24.6 billion riyals in the second quarter of 2020 compared to 92.6 billion during the same period of the previous year , because of ...
Six Arab Countries Reassert Compliance to OPEC+ Deal
The oil Ministers of Saudi Arabia, UAE, Kuwait, Oman, Iraq, and Bahrain reconfirmed their full support for OPEC+ agreement of cutting oil production in order to further speed up rebalance of oil markets.
US Sends First Crude Shipment to Saudi After Hiatus
Data released from the US Census Bureau has shown that US sent the first shipment of crude oil to Saudi Arabia in June since the end of banning crude exports in 2015.
Saudi Mining Sector Increases 3.1% During Q1 2020
Saudi Mining Sector has achieved growth 3.1% during the Q1 of the current year despite the exceptional circumstances of Coronavirus pandemic.
OPEC+ Set to Loosen Record Cuts in August
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) are set to ease the record 9.7-million barrels per day (mmbbl/d) production cuts as of August as demand has seen a continual rise, Saudi ...
Saudi, Iraq Confirm Commitment to OPEC+ agreement
Saudi Arabia’s Energy Minister, Prince Abdulaziz Bin Salman Al Saud, and Iraq’s Oil Minister, Ihsan Abdul Jabbar Ismail, had a phone call to discuss the issue of compliance with the OPEC+ deal.
Production Restarts at Wafra Oilfield
Crude oil production resumed on July 1 at the Wafra oilfield, which is a joint venture between Kuwait and Saudi Arabia.
India’s Oil Imports Drop 31%, Hitting Lowest Levels since 2011
India’s oil imports in May have nosedived 31% from April’s levels, representing the lowest importing figures since October 2011.
Kuwait, Saudi Arabia Set to Resume Production at the Neutral Zone
Kuwait and Saudi Arabia have plans in place to resume oil production at the Neutral Zone at jointly-operated Khafji and Wafra oilfields on July 1.
