Venezuela and Saudi Arabia are coordinating joint action to recover oil prices, which fell 50% last year, and stabilise global oil markets, Venezuelan Minister of Economy and Finance and Public Banks Rodolfo Marco To ...
Saudi Arabia will probably offer smaller discounts to ship crude to Asia amid speculation demand will increase after benchmark prices dropped almost 50 percent last year.
Falling world oil prices will hurt countries across the Middle East unless Saudi Arabia, the world's biggest crude exporter, takes action to reverse the slump, Iran's deputy foreign minister told Reuters.
Russia's No.2 oil producer Lukoil plans to start natural gas production in Saudi Arabia next year, the company's vice president Leonid Fedun said on Friday.
The National Iranian Oil Company (NIOC) has started developing Iran's biggest offshore oil field in the Persian Gulf which is shared with Saudi Arabia.
Saudi Arabia has raised oil exports and the United States is considering releasing crude from its strategic reserves as oil prices hit nine-month highs on Friday and concerns deepened over Iran's nuclear program.
Foster Wheeler AG announced that subsidiaries of its Global Engineering and Construction Group have been awarded an engineering, procurement and construction management contract by Aramco Overseas Company B.V. , a su ...
Technip was awarded a contract by Kuwait Gulf Oil Company (KGOC), for the engineering, procurement, construction and commissioning assistance of their Gas and Condensate Export System project.
Saudi Arabia remained the dominant energy investor in the Middle East and North Africa (MENA) region, with an estimated $141 billion during 2012-2016, data from the Dammam-based Arab Petroleum Investment Corporation ...