Saudi Arabia | Egypt Oil & Gas - Part 47
Saudi Aramco, Schlumberger Sign $1.6B MoU
Saudi Aramco signed a memorandum of understand (MoU) with Schlumberger valued at $1.6 billion, Reuters reports. The two companies signed two contracts, Middle East Monitor reports, requiring the US-based company to pr...
Saudi Aramco Looking for IPO Bookrunners & Coordinators
Saudi Aramco is seeking bookrunners and coordinators for its proposed initial public offering (IPO), sources told Reuters. The company plans to offer an IPO of up to 5% of its valuation next year. JP Morgan, Morgan St...
January OSPs for Arab Light Rise
Saudi Arabia raised its prices for Asian and European purchasers of its Arab Light crude, Reuters reports. The official selling price (OSP) of Arab Light to Asian importers rose to a premium of $1.65 per barrel over P...
Saudi Arabia Readies to Hike Domestic Fuel Prices
Saudi Arabia plans to raise gasoline and jet fuel prices in January to better align domestic prices with the international market, a source told Bloomberg. According to the source, gasoline prices will jump by approxi...
Saipem Awarded New Contract in Saudi Arabia
Saudi Aramco has awarded Saipem a new contract to conduct Engineering, Procurement, Construction (EPC) work in Saudi Arabia, Rigzone reported. The contract comes as a part of long-term agreement sealed in 2015 until 2...
El Falih: Gulf Should Increase Petrochemical Production
Gulf oil producers should follow the US lead and convert a greater share of their crude to chemical products, according to the Saudi Oil Minister, Khalid El Falih, The National reports. Only 18% of the region’s oil pr...
Saudi Arabian Exports to China Rise
Saudi Arabia’s crude exports to China rose in October even as the Asian giant reduced oil imports, Platts reports.  With the higher exports, Saudi Arabia overtook its OPEC rival, Angola, and became the second biggest...
Saudi Aramco Plans Additional Petrochemical Investments
Saudi Aramco is planning new investments in the petrochemicals sector, the company’s CEO, Amin Nasser, told Reuters. These investments will be in addition to the $20 billion petrochemical plant that the company and Sa...
