Saudi Arabia | Egypt Oil & Gas - Part 49
Crude Prices Hit 2-Year High
Crude oil prices climbed to two-year high earlier this week, rising to levels unseen on the markets since 2015, before receding slightly, Bloomberg reports. Brent and WTI crudes are now trading over $64 and $57 per ba...
Arkad, ABB form Joint Venture
Saudi Arabia’s Arkad is forming a joint venture with Swiss ABB Ltd. in order to extend its operations throughout the Gulf and into North Africa, Bloomberg reports. “It has been our goal since the beginning to become a...
Egypt, Saudi Interconnection Project on Track
Domestic political events in Saudi Arabia will not impact the Egypt-Saudi Arabia Interconnection Project, Ayman Hamza, Spokesman for the Ministry of Electricity and Renewable Energy, told Al Mal News. The project is p...
Saudi Energy Minister: “More Needs to be Done”
Oil producers must do more to reduce the global oversupply of crude oil, the Saudi Energy Minister, Khalid El Falih, said on Saturday, according to Reuters. While noting “general satisfaction” with the results of the ...
Saudi Arabia, Kazakhstan Reiterate Importance of Production Cuts
Officials from Saudi Arabia and Kazakhstan noted the importance of ongoing production cuts during a recent meeting in Uzbekistan, Saudi Arabian media reported, according to Reuters. Both countries are signatories to a...
December OSPs Rise
Last week Saudi Arabia and the UAE raised their official selling prices (OSPs) for December, Platts reports. The OSPs for Saudi Arabia’s Asia-bound crudes rose across the board. It raised December OSPs for Arab Extra ...
GE Completes Substation to Connect Egyptian, Saudi Arabian Grids
GE has connected a new 500/220 kilovolt (kV) gas-insulated substation to Egypt’s national grid as part of the Egypt-Saudi Arabia Interconnection Project, Egypt Oil & Gas reports. The new substation is located in B...
Saudi Aramco, SABIC Explore Options for Petrochemical Production
Saudi Aramco and Saudi Basic Industries Corporation (SABIC) are conducting a feasibility study for a facility to convert crude oil directly into petrochemicals, Platts reports. The direct conversion would eliminate th...
