Saudi Arabia | Egypt Oil & Gas - Part 63
Aramco to Reduce Stake in Indonesian Refinery Upgrade
Saudi Arabia’s oil and gas giant, Aramco, has asked to cut its shares in a proposed $5.5b refinery project in Indonesia to 30% from 45%, Reuters reported. With Indonesian state energy company Pertamina likely to...
Saudi Arabia Opens IPOs to Foreign Investors
Saudi Arabia’s Capital Market Authority announced new rules permitting foreign investors to buy shares directly in initial public offerings (IPO). The new policy will take effect at the start of 2017, and could ...
Russia,Saudi Arabia Talk Oil Market Stability
The Russian Energy Minister, Alexander Novak, said that his country is consulting with Saudi Arabia and other producers to achieve oil market stability, adding that the door is still open for more discussions on outpu...
Saudi Pumps Record Volume of Crude
Saudi Arabia boosted its output to a record high of 10.67mb/d in July, up from 10.55mb/d in June, according to figures it provided to the Organization of the Petroleum Exporting Countries (OPEC), Reuters reported. The...
MENA Expands its LNG Import Facilities
The MENA region is forecast to become the world’s second-largest gas-importing area by 2040, as the countries invest around $10.3b in LNG-importing facilities, Hellenic Shipping News reported. The move comes in light ...
Russia Relunctant to Renew Output Freeze Talks
Russia sees no need for renewing discussion of an oil-output freeze at current crude prices, while leaving open the possibility for future talks with the Saudi counterparts, Bloomberg reported. The Russian Energy Mini...
Oil Prices Rose Nearly 3% over Freeze Buzz
Oil prices rose nearly 3% in first half of August over reports of renewed talks by some members of the Organization of Petroleum Exporting Countries (OPEC) to restrain crude output, as Reuters reported, with US West T...
Saudi Maintains Near-Record Crude Output
Saudi Arabia has been reported to continue pumping at near-record levels to defend sales in Asia, its biggest market, amid an increase in global supply. In addition, Saudi Aramco, the state-run oil giant, said that bo...
