Saudi Arabia
News
September 25, 2019
The state-run company plans to announce its intention to float around Oct. 20, according to people with knowledge of the matter. The firm, which is holding analyst meetings from Wednesday, is targeting a valuation of at least $2 trillion -- more than double that of Apple Inc.
News
September 25, 2019
Saudi Arabia is recovering faster than expected from the attacks on its oil industry, with total production capacity restored to more than 11 MMbpd about a week ahead of schedule, according to people with knowledge of the situation.
News
September 24, 2019
Saudi Arabia will waive the controversial fees it requires industrial companies to pay for their foreign workers for a period of five years, lightening a burden on the private sector.
News
September 23, 2019
Oil stabilized as traders weighed conflicting reports on how quickly Saudi Arabia will be able to restore its lost production.
News
September 23, 2019
“We are still in a frantic search for spare parts,” an anonymous Saudi official was quoted as saying. The situation is not “as rosy as you might think,” the official said.
News
September 20, 2019
Saudi Aramco revealed the significant damage caused by aerial strikes on its Khurais oil field and Abqaiq crude-processing plant last weekend, and insisted that the sites will be back to pre-attack output levels by the end of the month.
News
September 20, 2019
Consultants caution that Saudi Arabia's recovery could take longer than expected, and the kingdom’s resort to sourcing refined fuels and condensates from the market is fanning concerns about the length of the disruption.
News
September 19, 2019
Saudi Arabia’s pledge to fulfill all commitments to oil buyers after a strike on the giant processing plant at Abqaiq means the world’s largest crude exporter must continue to draw heavily on its inventories until production capacity returns.
News
September 19, 2019
Oil rose amid doubts about the speed of Saudi Arabia’s recovery from the weekend’s attack on its facilities that knocked out a large chunk of its production.
News
September 18, 2019
Saudi Arabia is fixing its energy infrastructure and restoring crude production, but the weekend’s attacks may have done irreparable damage to one of the kingdom’s greatest assets -- its role as guardian of global oil markets.
News
September 18, 2019
Futures fell as much as 2.2% in New York before easing declines on Wednesday. The weekend attacks on the kingdom’s critical oil infrastructure were “unquestionably sponsored by Iran” and did not originate from Yemen, said Turki al-Maliki, a spokesman for the Saudi defense ministry.
News
September 18, 2019
Weatherford has announced the signing of a five-year corporate procurement agreement with Saudi Aramco to deliver cementation, completions, liners, solid expandables and casing exit technologies
News
September 18, 2019
Saudi Arabia joined a U.S.-led coalition to secure sea lines vital to oil shipping in the Middle East in the aftermath of a devastating attacks on Aramco’s oil facilities.
News
September 18, 2019
“Considering limited spare capacity outside Saudi Arabia and risks of renewed attacks on Saudi energy infrastructure, a risk premium is likely to stay on oil prices in the foreseeable future,” UBS Group AG analyst Giovanni Staunovo said in a note on Wednesday.
News
September 18, 2019
Petrofac’s Engineering & Production Services
division will provide managed maintenance services for ADNOC’s Al Dhafra Petroleum to support its operations at Haliba field, located onshore along the south-east border of Abu Dhabi.
News
September 18, 2019
Saudi Arabia is committed to the IPO, Yasir Al-Rumayyan said on Tuesday at a press conference in Jeddah. He refused to commit to a precise timetable, however, saying the company is ready to do it any time in the next 12 months.
News
September 17, 2019
Saudi Arabia attempted to move beyond the worst oil disruption in its history, assuring the world that crude exports will not suffer, its damaged facility had partially restarted and production capacity would be back to normal within months.
News
September 17, 2019
The Pentagon is preparing a report on who was responsible for the weekend attack on Saudi oil facilities and intends to make it public within 48 hours, a U.S. defense official said.
News
September 17, 2019
Oil plunged nearly 7% in London after Reuters reported Saudi Arabia is close to restoring 70% of the oil production it lost after this weekend’s attack on a key crude facility in the kingdom.
News
September 17, 2019
Nearly all of the kingdom’s oil shipments to Canada travel to New Brunswick, home to a single refinery, Irving Oil Ltd.’s Saint John plant, which can process about 299,000 bpd. The refinery relied on Saudi crude for more than 40% of its supplies in July, Statistics Canada data show.
News
September 17, 2019
The U.S. energy revolution has fundamentally added to U.S. and global near-term deliverability of oil, natural gas and natural gas liquids, generally helping stabilize the global market against supply disruptions.
