Saudi Arabia | Egypt Oil & Gas - Part 18
Saudi Arabia, Russia Cooperate Over Oil Market
Prince Abdulaziz bin Salman bin Abdulaziz, the Minister of Energy, and Alexander Novak, the Minister of Energy for the Russian Federation, discussed in a phone call the new developments of the oil market situation, ac...
Aramco Maintains Dividend Payout Despite 25% Q1 Profit Drop
Saudi Aramco, the world’s largest oil exporting company, announced that it will maintain its promise to deliver its $18.75 billion dividend payout Q1 even though the company recorded 25% drop in profit, according to R...
Kuwait to Voluntarily Further Reduce Production by 80,000 bbl/d
Kuwait’s oil minister, Khaled Al-Fadhel, announced that Kuwait will support the Kingdom of Saudi Arabia’s efforts to restore stability to oil markets by cutting production by a further 80,000 barrels per day (bbl/d), ...
UAE to Voluntary Cut Production by 2.5% in June
The United Arab Emirates (UAE)’s Minister of Energy, Suhail bin Mohammed Faraj Faris Al-Mazrouei, announced that the UAE will voluntarily cut its oil output by 2.5% (100,000 barrels per day (bbl/d)) in June to rebalan...
Saudi Arabia to Reduce Oil Production Worth 1% of Daily Global Supply
A Saudi Ministry of Energy official stated that Saudi Aramco will reduce its crude oil production in June by a voluntary amount of 1 million barrels of oil per day (mmbbl/d) or 1% of daily global oil supply, according... Saudi Arabia Sells Crude to Belarus for First Time
Belarus’s state refiner Beleneftkhim has purchased its first batch of crude from the Kingdom of Saudi Arabia, according to Reuters. Belarus, which has long since relied on Russian oil imports, has bought 80,000 tonnes... Saudi Arabia Ready for Long Term Cooperation with Russia
Saudi Arabia and Russia confirmed their commitment to implement the OPEC agreement of limiting production to 9.7 million barrels per day (mmbbl/d) for the coming two years, according to Saudi Press Agency. The deal re... Saudi Arabia Crude Oil Exports Falls to 7.2 mmbbl in February
Saudi Arabia’s crude oil exports in February slipped to 7.2 million barrels per day (mmbbl) from 7.29 mmbbl in January, official data showed. In total, the Kingdom pumped 9.784 mmbbl in February, up from 9.748 mmbbl i...
