Saudi Aramco to Invest $1.6 B on South-Korean Refiner
Saudi Aramco plans to invest up to $1.6 billion to acquire around 20% stake in South Korean refiner Hyundai Oilbank.
Saudi Aramco plans to invest up to $1.6 billion to acquire around 20% stake in South Korean refiner Hyundai Oilbank.
Total announced arranging several plans to invest in gas filling stations in Saudi Arabia.
Saudi Arabia's plan comes as part of the $10 billion investments to be in the Kingdom.
Saudi Arabia plans to expand the regional gas network especially after the increase in the Kingdom’s estimates of energy reserves.
Oil demand will remain strong without being affected by US-China trade tensions, said Khalid Al-Falih, Saudi Arabia’s Oil Minister.
Saudi Arabia plans to integrate the renewable energy network to produce 60 GW of renewable energy, 40GW from solar power and 20GW from wind and other sources, by 2030.
The refinery is set to be established in Pakistan's deepwater port of Gwadar.
Saudi reserves increased by 2.2 billion barrels to 263.1 billion barrels of oil at the end of 2017, while natural gas reserves rose to 319.5 trillion cubic feet.
Sabic's domestic sales reached 2.7 million tons, covering around 94% of the kingdom’s consumption.
ADES International is renewing its contract for the ultra-shallow water rig Admarine 67 for a client in Saudi Arabia for seven years.