Saudi oil minister Ali Al-Naimi said on Thursday the kingdom envisaged the fact that fossil fuels could become unnecessary before the middle of the century and was investing in renewable energy for that reason.
Saudi Arabia and its main Middle East OPEC partners are turning down Chinese requests for extra oil as they hold back fuel for their own refineries just as demand from the world's biggest crude importer hits new records.
Oil prices fell more than 3 percent on Tuesday, with U.S. crude extending losses for a fifth straight day as the dollar rallied and on evidence that the United States and top oil exporter Saudi Arabia were pumping mo ...
Rates for the world’s biggest oil tankers surged to the highest since January as shipments accelerated from Saudi Arabia and Iraq, the two biggest suppliers in the Persian Gulf.
The energy sector’s latest equipments and services were on show at a leading international trade exhibition for power, which concluded recently in Saudi Arabia.
A jointly operated onshore oilfield between Saudi Arabia and Kuwait will shut for maintenance, a move apparently aimed at giving the Gulf OPEC allies more time to solve a long-standing dispute.
Leading players in the electricity, power generation, alternative energy, water technology, and lighting sectors will be showcasing their products and solutions at the upcoming Saudi Power 2015 expo in Riyadh.
Abu Dhabi National Oil Company (Adnoc) raised the retroactive prices of crude sold to Asia in April, after robust demand pushed up spot premiums for its grades.