Saudi Arabia | Egypt Oil & Gas - Part 62
Aramco, Nabros Formed Drilling Partnership
Saudi Aramco signed an agreement to form a new joint venture (JV) in Saudi Arabia to manage and operate onshore drilling rigs with the Anglo Energy company, Nabors. The joint venture, which will be equally owned by Sa...
OPEC, Russia to Discuss Oil Output
Energy ministers from Saudi Arabia, Iran, and Iraq will be among representatives of key member’s of the Organization of the Petroleum Exporting Countries (OPEC) producers meeting with Russia for informal discuss...
OPEC Agreed on a Production Freeze
Members of the Organization of the Petroleum Exporting Countries (OPEC) agreed to reduce their oil output to 32.5mb/d from the current production levels of around 33.24mb/d, with global prices of oil jumping by more t...
Aramco to Invest a $334b by 2025
Saudi Arabia’s state-owned oil giant Aramco plans to invest a total of about $334b by 2025 on infrastructure and projects to maintain oil potentials, reported Reuters. Aramco’s Vice President for Procureme...
Saudi Arabia to Consider Reducing Oil Output
Saudi Arabia has offered to reduce oil production, if rival, Iran, agrees to cap its output at the current level of 3.6mb/d. This is a major compromise from the Kingdom ahead of production freeze talks in Algeria by t...
Arabian Drilling to Buy Dalma Energy
Saudi Arabia’s Arabian Drilling Company (ADC) has shown interest in purchasing Dalma Energy, in a deal which could value the land rig operator at more than $500m, Ecofin Agency Oil and Gas reported. ADC is inter...
Saudi, China to Invest $4b in Petchem Project
Saudi Basic Industries Corp (SABIC) expects the company’s greenfield petrochemical complex in Ningxia Hui Region of China to cost $3-4b and be finalized by 2020, Reuters reported. In May, SABIC signed the projec...
Saudi Arabia Signed 15 Agreements with China
Saudi Arabia signed 15 preliminary agreements with China, late August, upon Deputy Crown Prince, Mohammed bin Salman’s visit and meeting with China’s Vice Premier, Zhang Gaoli. The agreements included deal...
