Saudi Arabia | Egypt Oil & Gas - Part 78
Saudi Solar Bids, Projects Run Up Against Bureaucratic Resistance,
Sources told Reuters that Saudi Arabia’s plan to issue bids for its first solar power projects, announced in 2013, has been postponed. “It hasn’t been approved yet, we are in a waiting mode,” s...
Saudi Aramco Desperate for Loans
Informed sources, on condition of anonymity, told Reuters that Saudi Aramco is talking to banks about raising a $5b loan to help out a refinery it built in collaboration with China’s Sinopec. The finances, if ra...
Saudi Arabia On Verge of Fuel Subsidy Reforms
A source in the Gulf oil industry told Reuters that Saudi officials were “seriously” thinking about reducing fuel subsidies, if gradually. This was in response to a Saudi publication, Al Watan’s Satu...
Saudis Reassured by Obama Over Post-Sanction Iran
A senior Saudi official announced on Friday that Saudi Arabia is satisfied with assurances from US President Barack Obama about the Iran nuclear deal and believes the agreement will contribute to security and stabilit...
Oilfield Expansion Projects Delayed in Saudi Arabia
The planned expansion of the Khurais oilfield in Saudi Arabia has reportedly been delayed beyond the original 2017 schedule, said Gulf Digital News. “The project is important because of the associated gas that c...
Investigators Place Blame of Aramco Expatriate Fire on Short Circuit
The preliminary investigation into Sunday’s fire at the Aramco residential complex found that the cause was a short circuit, said Arab News. The short took place in a transformer in the basement, spreading to th...
Oil Prices and Saudi Boom and Islamic Finance Cycles
Rising oil output boosted Saudi Arabia’s economic growth to its fastest pace in over a year in the second quarter of 2015, according to data released by the country’s state statistics department. GDP expan...
Aramco Fire Kills 11, Causes Unknown but Under Investigation
A fire at an oil workers’ residential compound in Saudi Arabia broke out on Sunday, killing 11 people and injuring over 200 others, reported Reuters. “At 05:45 today a fire was reported in the basement of ...
