Saudi Calls for Energy Subsidies Reform

• Monday, 9th February 2015
• by Egypt Oil & Gas

Saudi Arabia's central bank governor called for reforms to the country's lavish system of energy and water subsidies, which drain billions of dollars from the state budget and encourage waste by keeping down prices f ...

Saudi Discounts Shower Asia Market

• Sunday, 8th February 2015
• by Egypt Oil & Gas

Saudi Arabia, the world’s largest crude exporter, has cut its March oil prices to Asia by 90 cents - the largest discount in at least 14 years. Experts suggest the move is part of the country’s fight for global marke ...

$755 Billion for MENA Energy Projects

• Thursday, 5th February 2015
• by Egypt Oil & Gas

The Middle East and North Africa (MENA) countries are set to invest about $755 billion in energy projects over the next five years despite plunging oil prices, according to a report.

World’s Largest Solar Desalination Plant for Saudi

• Monday, 26th January 2015
• by Egypt Oil & Gas

Abengoa SA (ABG), a Spanish energy and environment company, will develop the world’s largest solar-powered desalination plant in Saudi Arabia with a local water firm.

UAE, Egypt and Saudi Lead Renewables Demand

• Wednesday, 21st January 2015
• by Egypt Oil & Gas

The UAE and Egypt are expected to account for the highest demand for renewable energy in the region this year, according to Luc Grare, senior vice president of sales and marketing at REC Group, a global provider of s ...

Oil Drop Cuts 29% in Saudi Basic Industries Profit

• Sunday, 18th January 2015
• by Egypt Oil & Gas

Saudi Basic Industries Corp. (SABIC), the world’s biggest petrochemical maker by sales, reported a 29% drop in fourth-quarter profit as lower oil prices reduced returns from its own products.

Saudi and Venezuela Work Together to Recover Falling Oil Prices

• Monday, 12th January 2015
• by Egypt Oil & Gas

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 to Drill for Shale Gas This Year

• Tuesday, 19th March 2013
• by Egypt Oil & Gas

Saudi Arabia signaled Monday that it intends to remain a world energy powerhouse for the foreseeable future, partly by exploiting new technology which has unlocked vast quantities of oil and natural gas in North America.

Sudan to attract Saudi investments in oil and gas sectors

• Monday, 19th March 2012
• by Egypt Oil & Gas

A top official at the consulate general of Sudan in Jeddah said yesterday that a number of Saudi businessmen are intending to invest more than $1 billion in the Sudanese oil and gas. He expected that Sudan would star ...

Saudi oil output at 30-year high

• Friday, 16th September 2011
• by Egypt Oil & Gas

Saudi Arabia pumped the most oil in 30 years last month as it boosted production along with other members of the Organisation of Petroleum Exporting Countries' (Opec) including Nigeria, Angola, Iraq, Kuwait and the U ...