Aramco, Sempra Deal Indicates Saudi Commitment to Output Cuts
Saudi Aramco’s deal with Sempra Energy, a US gas export project, indicates the Kingdom’s commitment to continue supporting oil production cuts.
Saudi Aramco’s deal with Sempra Energy, a US gas export project, indicates the Kingdom’s commitment to continue supporting oil production cuts.
Aramco sees the agreement as a step in its long-term strategy to become a leading global LNG player.
Saudi Arabia may recover part of its previous market share on the Indian market, especially after the US sanctions on Iran.
Saudi Aramco has resumed oil pumping via its East-West pipeline after being temporarily closed because of drone attacks.
Saudi Aramco plans to expand its trading operations in Europe by increasing oil supply by 300,000 barrels per day (b/d) over the next two years.
A deal is reportedly in place between the two oil giants who share the ownership of the refining complex.
Saudi Aramco has agreed to purchase $1.2 billion stake in South Korean oil refiner Hyundai Oilbank.
Under the supply agreement, Aramco will supply the refinery with its Arabian crude oil in exchange for a similar volume of high sulfur fuel oil from the refiner.
Saudi Aramco has priced its inaugural international bond issuance at $12 billion
Saudi Aramco has increased the price for its Arab Light Crude to Northwest Europe in May by $1.10 per barrel, up from a discount of $0.80 in April to ICE Brent.