Saudi Arabia | Egypt Oil & Gas - Part 32
Oil Could Drop to $30 Due to Supply Glut
Russia is growing concerned of a scenario that could see crude oil prices drop to as low as $30 a barrel if the output cut deal, sponsored by the Organization of the Petroleum Exporting Countries (OPEC), is not extend...
Aramco Reiterates Interest in Arctic LNG 2 Project
Saudi Aramco has extended its offer to engage in Novatek’s Arctic LNG 2 project, according to Saudi Energy Minister Khalid Al-Falih, Reuters reported citing Russia’s TASS news agency. The minister stressed his h...
OPEC Nears Extending Production Cuts
The Organization of the Petroleum Exporting Countries (OPEC) and other major producers are nearing an agreement to extend crude output cuts, according to Saudi Arabia’s Minister of Energy Khalid Al-Falih. More talks a...
Saudi Arabia to Raise Oil Shipments to India
Saudi Arabia may increase its crude oil market share through the Indian market, especially after the US sanctions on Iran, TradeArabia reported. Saudi Aramco will ship an additional 2 million barrels per month to Indi...
Aramco Resumes Pipeline Oil Pumping After Drone Attack
Saudi Aramco has resumed oil pumping through the East-West pipeline after it was temporarily closed because of drone attacks, according to a source familiar with the matter, Reuters reported. Two pump stations on the ...
Oil Prices Surge on Geopolitical Tensions in Middle East
Recent incidents in the Arabian Gulf led to global oil prices rising to their highest level in two weeks. On Tuesday, May 14, two pump stations on the Saudi East-West pipeline, which transports oil from the Eastern Pr...
Saudi Arabia, Nigeria Plan Cooperation in Oil, Gas
Saudi Arabia and Nigeria plan to draft a memorandum of understanding (MoU) for an oil and gas partnership, according to the Nigerian Petroleum Ministry, Reuters reports. Despite being a top crude oil producer, Nigeria...
Saudi Oil Exports Declines in February
Saudi Arabi’s oil exports have declined in February 2019 for the third consecutive month, according to the Joint Organizations Data Initiative’s (JODI) data, Mubasher reported. The level of Saudi crude oil expor...
