Saudi Arabia | Egypt Oil & Gas - Part 16
Aramco Announces Lower Gasoline Prices for October
Saudi Aramco, the world’s largest oil company, has announced new petroleum prices starting October 11, according to the company’s website. The company lowered the price of Gasoline 91 to 1.44 riyals, and Gasoline 95 t...
Saudi Oil Production Remains Steady in September
Saudi Arabia, the world’s largest oil producer, has reduced its crude oil production by only 14,000 barrels of oil per day (bbl/d) when compared with August’s figures, keeping output at a steady pace, according to Blo...
Saudi Firms to Create $11 B Petrochemicals Business
Saudi Industrial Investment Group and National Petrochemical Company have initiated talks to merge the two companies, resulting in an $11 billion petrochemical enterprise, according to Bloomberg. The companies said t...
Global Oil Supply Rises to 90 mmbbl/d After Termination of Voluntary Cuts
The International Energy Agency’s (IEA) monthly report has found that global oil supply has increased by 2.5 million barrels of oil per day (mmbbl/d) to 90 mmbbl/d after the cessation of voluntary cuts by Saudi ...
Aramco Discovers New Oil, Gas Fields
The world’s largest oil company, Saudi Aramco, has discovered two new oil and gas fields in the north of Saudi near Arar, according to Reuters. The energy minister, Abdulaziz bin Salman Al-Saud, announced that the new...
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, according to a press release. This n... 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 , due to the drop...
Six Arab Countries Reassert Compliance to OPEC+ Deal
The oil Ministers of Saudi Arabia, UAE, Kuwait, Oman, Iraq, and Bahrain re-affirmed their full support for OPEC+ agreement of cutting oil production in order to further speed up rebalance of oil markets, according to ...
