Saudi Arabia Wooing France Over Lucrative Energy and Defense Contracts

• Wednesday, 6th May 2015
• by Egypt Oil & Gas

France is in talks to agree billions of euros worth of contracts in Saudi Arabia that could be completed quickly, ranging from defence to civil aviation, transport and energy, the French government said on Tuesday.

Rising Summer Energy Demands Prompt Aramco into 1.7 Mn Gasoil Deal

• Wednesday, 6th May 2015
• by Egypt Oil & Gas

Saudi Aramco is in negotiation to buy 1.7 million barrels of gasoil for delivery in May, its largest spot requirement in recent months, to meet a potential rise in domestic demand for the power generation fuel in sum ...

Oil Prices Alternates with Changing Saudi Policy on Yemen

• Tuesday, 5th May 2015
• by Egypt Oil & Gas

Brent crude oil futures slipped towards $66 a barrel on Tuesday, falling from a 2015 high, as Saudi Arabia considered halting bombing in Yemen to allow the delivery of aid, which eased concerns about oil supply from ...

Temporary Leadership Vacuum at Aramco Filled

• Monday, 4th May 2015
• by Egypt Oil & Gas

Saudi Aramco senior vice-president Amin al-Nasser has been named acting chief executive of the state oil giant until further notice, Aramco said on its website on Friday.

UAE and Other Middle East Stocks Gyrate With Oil Prices

• Monday, 4th May 2015
• by Egypt Oil & Gas

Dubai stocks tumbled the most since March as investors bet the longest streak of weekly gains in 15 months had taken share prices too high, too fast. Abu Dhabi equities fell to the lowest in almost three weeks.

Saudi Reforms of Oil Sector to Make Aramco More Independent

• Sunday, 3rd May 2015
• by Egypt Oil & Gas

Saudi Arabia has approved a restructuring of Saudi Aramco that includes separating it from the oil ministry, a Saudi-owned TV station reported

Aramco Official Becomes New Saudi Health Minister

• Thursday, 30th April 2015
• by Egypt Oil & Gas

Saudi King Salman appointed Saudi Aramco's chief executive as chairman of the state oil firm and health minister on Wednesday, in a reshuffle that is unlikely to change oil policy in the world's top crude exporter.

Global Demand Responsible for Saudi Over-Production, Official Says

• Tuesday, 28th April 2015
• by Egypt Oil & Gas

Saudi Arabia's high crude oil production policy is based on the status of global demand and the top oil exporter is keen to maintain its market share, the kingdom's deputy oil minister said on Monday.

Egypt Receives $6bn from Saudi Arabia, UAE & Kuwait

• Sunday, 26th April 2015
• by Egypt Oil & Gas

Saudi Arabia, Kuwait and the United Arab Emirates deposited $6bn with Egypt's Central Bank, the bank's governor said, a sign that the gulf powers remain committed to propping up the Egyptian economy.

OPEC Pumps Record 2m bpd in Q1

• Sunday, 26th April 2015
• by Egypt Oil & Gas

The world's biggest oil exporters in OPEC have increased production and are now pumping almost 2m bpd more crude than required, the highest surplus for at least a decade.