Saudi Oil Exports to China Hit Highest Level Since 2013

• Tuesday, 30th July 2019
• by Editorial Team

Saudi Arabia has compensated China for the shortage of crude oil supplies due to the US-imposed sanctions on Iran. After Chinese oil importer crude Iranian imports decreased to their lowest level since 2010, Al-Arabiy...

SABIC Not Seeking to Acquire Clariant

• Monday, 29th July 2019
• by Editorial Team

Saudi Basic Industries Corporation (SABIC) has denied interest in acquiring Switzerland’s Clariant, SABIC CEO Yousef Al-Benyan told Asharq Al-Awasat. SABIC owns a 25% stake in Clarent, which recently revealed th...

Saudi Arabia to Expand Pipeline as Alternate Export Route

• Sunday, 28th July 2019
• by Editorial Team

Saudi Arabia plans to increase the capacity of the East-West Pipeline by 40% within two years in order to reduce oil exports through the Strait of Hormuz, Reuters reported. The move comes in response to a number of in...

Saudi Arabia, Kuwait Cooperate to Restore Output in Neutral Zone

• Thursday, 25th July 2019
• by Editorial Team

Saudi Arabia and Kuwait have discussed resuming crude oil production in jointly operated fields in the Neutral Zone, Kuwait News Agency (KUNA) reported. The two countries “continue to discuss resuming of oil productio...

Aramco Awards LTHE Marjan Field Contract

• Sunday, 21st July 2019
• by Editorial Team

Saudi Aramco has awarded L&T Hydrocarbon Engineering (LTHE) a new project in the Marjan Field, Saudi Gazette reported. The project is part of the oil facilities for the Marjan Incremental Development Project and c...

Saudi Steel Pipe Awarded New Contract

• Sunday, 21st July 2019
• by Editorial Team

Saudi Steel Pipe Company announced that it was awarded a contract for the supply of oil and gas steel pipe, according to Mubasher. The contract is worth more than 5% of the company’s revenues in 2018, exceeding ...

Saudi PIF Acquires 40% Stake in Aramco-Jacobs JV

• Wednesday, 17th July 2019
• by Editorial Team

Saudi Arabia’s Public Investment Fund (PIF) has bought a 40% stake in Jasara Program Management Company, a joint venture between Saudi Aramco and Jacobs Engineering Group, Bloomberg reported. PIF acquired 30% of Jasar...

Saudi Arabia to Build Solar Panel Factory

• Tuesday, 16th July 2019
• by Editorial Team

The Saudi Industrial Development Fund (SIDF) has signed an agreement with Masdar for the construction of a solar panels factory that will be the largest in the Arab world, Asharq Al-Awsat reported. The plant will be b...

Aramco Considers Cooperation with Lukoil in Uzbekistan

• Tuesday, 16th July 2019
• by Editorial Team

Saudi Aramco and Russia’s Lukoil are considering a partnership for two natural gas projects in Uzbekistan, Reuters reported. This partnership would come in line with a protocol that was signed by Saudi Arabi and Russi...

China’s CSCEC Seeks Expansion in Gulf Markets

• Sunday, 14th July 2019
• by Editorial Team

The government of Iraq and the China State Construction Engineering Corporation (CSCEC) see a lot of opportunities for cooperation in oil projects, Reuters reported. CSCEC is interested in pipeline projects in Iraq, a...