Saudi Arabia | Egypt Oil & Gas - Part 65
Saudi Electricity Consortium Refinanced $1.82b Debt
A consortium of Saudi Arabia’s electricity companies, including Saudi Electricity Company (SEC) and Riyadh-based Acwa Power, had refinanced debt of the Rabigh 1 power project, totaling more than $1.82b. The cons...
USA Becomes World’s Largest Oil Reserve
Recoverable oil reserves in the US has currently surpassed those in Saudi Arabia and Russia, making the US the world’s biggest country with oil reserves, according to an evaluation published by a Norway-based independ... Saudi Oil Minister: Above $50 Per Barrel Needed to Sustain Investments
Recently appointed Saudi Energy Minister, Khalid Al-Falih, said that an amount of more than $50 per barrel is needed to sustain investments in the global oil sector, Reuters wrote. He added that the excess of huge sto...
Saudi Arabia to Boost Energy Cooperation with China
Saudi Arabia considers boosting energy cooperation with China, after discussions took place between China’s Vice Premier, Zhang Gaoli, and other officials in Beijing during a G20 ministerial meeting. According to Saud...
Shell Demands Aramco to Pay $2b in Compensation for JV Breakup
Royal Dutch Shell has asked Saudi Aramco for up to $2b as part of the breakup of their giant Motiva Enterprises refining joint venture (JV) in the US, The National informed. The payment would be a compensation for the...
OPEC Output at Record High in June
The Organization of the Petroleum Exporting Countries’ (OPEC) oil output has risen in June to its highest in recent history as Iran and the Gulf member states boosted their oil supply, according to a Reuters sur...
Egypt’s Parliament Approves Saudi’s Sinai Development Program
In a plenary session that took place in late June, Egypt’s Members of Parliament (MPs) have approved a presidential decree on the King Salman Program for the Development of Sinai, a Saudi-Egyptian loan agreement that...
Aramco, Sabic to Cooperate First Time on Oil-to-Chemicals
Saudi major petrochemicals producer Saudi Basic Industries Corporation (Sabic) has agreed with the national oil giant Saudi Aramco to conduct a joint feasibility study on a proposed oil-to-chemicals project, Sabic ann...
