Saudi Arabia | Egypt Oil & Gas - Part 55
Saudi Aramco Eyes $5b Investment in Renewables
Saudi Aramco is considering as much as $5b of investments in renewable energy firms as part of plans to diversify from crude production.
Saudi Aramco’s Oil Reserves Reach 261b Barrels
The external audit of the oil reserves of Saudi Aramco ahead of its planned IPO has confirmed that Saudi Arabia’s oil giant has more than 261b barrels of reserves.
Saudi Aramco Pulls Out of JV Project with Petronas
Saudi Aramco has pulled out of a planned joint venture with Malaysia’s state-owned oil company Petronas, concerning the construction and operation of a major $27b refining and petrochemical project in southern Malaysia.
Saudi Aramco Operates 220 Rigs Despite Oil Prices
Oil and gas company Saudi Aramco said it is currently operating about 220 drilling rigs as it sees continued investment in capacity.
McDermott Contracted Offshore Saudi Arabia
McDermott International has been awarded a substantial contract from Saudi Aramco for engineering, procurement, construction, and installation (EPCI) services in the Safaniya and Zuluf fields offshore Saudi Arabia.
Aramco to Get Tax Break for IPO
Saudi Arabia will reduce the overall tax rate paid by Aramco to make its 2018 initial public offering more appealing to investors, as it is expected to conduct a public offer of its shares in 2018. Enel Expands Renewable Projects in MENA
Enel SpA is targeting renewables projects in Saudi Arabia and the United Arab Emirates (UAE) as oil-rich Gulf countries take advantage of the falling cost of solar power.
Saudi Arabia Increased Oil Output Reductions
Saudi Arabia reduced oil production to less than 10mb/d, below its targeted level, and will consider renewing its pledge to cut crude output in six months.
