Saudi Arabia | Egypt Oil & Gas - Part 65

Saudi Arabia | Egypt Oil & Gas - Part 65

Egypt’s Foreign Reserves Rose to $17.52b

Egypt's net foreign reserves rose to $17.52b at the end of May, up from $17.011b in April, the Central Bank of Egypt (CBE) announced.

Saudi Aramco Sings Oil Supply Deal with Polish PKN

Saudi Aramco announced its entry into the Baltic market after signing a contract with Poland's biggest refiner, PKN Orlen, for Aramco to supply PKN with 50,000bp/d starting in June.

Saudi Arabia Agrees Petchem Project with China

Saudi Arabia's giant petrochemical coporation, SABIC, inked a deal with Chinese Shenhua Ningxia Coal Industry Group to build a petrochemical complex in China.

Egyptian Cabinet Approves Nuclear Cooperation with Riyadh

The Egyptian cabinet has officially approved cooperation with Saudi Arabia in peaceful usage of nuclear power and on nuclear security.

Aramco to Expand Hasbah Sour Gas Field

State oil giant Saudi Aramco has awarded a contract of more than $1b to India's Larsen & Toubro (L&T) and Singapore-based Emas AMC for the expansion of the offshore Hasbah sour gas field.

Non-Opec Producers Cutting Back Oil Output

Oil output from producers outside the Organisation of Petroleum Exporting Countries (OPEC) is falling faster than expected, helping the market to rebalance.

Saudi Arabia Signs $900m KEXIM-Backed Loan for Power Plant

Saudi Electricity Co (SEC) signed a $900m loan agreement with the Export-Import Bank of Korea (KEXIM) among other international lenders, to help finance the construction of a 2,640MW power plant in Shuqaiq.

Aramco’s Huge Marine Complex to Be Ready by 2021

National oil giant Saudi Aramco expects a huge ship repair and shipbuilding complex that it is developing at Ras al-Khair on the Kingdom's east coast to be fully operational by 2021.

Saudi Aramco to Ink a Deal with SABIC

National oil giant Saudi Aramco expects soon to sign a Memorandum of Understanding (MoU) with Saudi Basic Industries for a joint oil-to-chemicals project.

Saudi Aramco Raising Oil Output Ahead IPO

Saudi Aramco is raising output levels to capture more customers as it pushes ahead with Initial Public Offerings (IPOs). According to the CEO, the proposals for the partial privatization will be presented "soon" to t ...

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