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 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 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.
UK's Wood Group has secured a five-year deal to continue providing engineering and project management services to Saudi Arabia's state-owned oil firm Saudi Aramco.
Saudi Arabia has cut its crude-oil production by at least 486,000b/d since October, bringing the world’s largest exporter of petroleum swiftly into line with OPEC’s deal to raise prices.
Saudi Arabia's Sadara Basic Services, which is fully owned by Sadara Chemical Co, said it would start late December planned maintenance of a mixed-feed cracker at its parent company's petrochemical complex in Jubail.
China's November crude oil imports from the Kingdom of Saudi Arabia (KSA) jumped 29.19% on a year earlier to 1.15mb/d. Saudi Arabia re-emerged as the top oil supplier to India during November with over 873,000b/d,