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Saudi oil giant Aramco reports over 80% profit rise in 1Q22
- Aramco's first quarter 2022 profits hit $39.5 billion compared to $21.7 billion in same period of last year
Saudi Arabia condemns Houthi attacks on Kingdom’s oil facilities
- Riyadh says global energy supplies threatened by Iran-backed rebels in Yemen
Houthis attack Aramco oil facility in Saudi Arabia's Jeddah: Arab Coalition
- No casualties reported, says Saudi-led coalition
TotalEnergies to stop purchasing oil, petroleum products from Russia
- Decision due to worsening situation in Ukraine; company will cease further capital investment, activities in Russia
S. Arabia will not take responsibility for global oil supply disruptions: foreign ministry
- Iranian-aligned Houthis' attacks on oil facilities undermine security and sustainability of energy supply to global markets, says Saudi foreign ministry
Saudi Aramco's income more than doubles amid plans to raise output by 2027
- Company to raise crude production capacity by 2.8 million barrels per day by 2027
UK, Saudi Arabia agree to 'collaborate to maintain stability in energy market'
- Prime Minister Boris Johnson meets Saudi Crown Prince Mohammed bin Salman in Riyadh
UK to urge Saudi Arabia to raise oil output amid plans to reduce dependency on Russian resources
- Prime Minister Boris Johnson flying to Riyadh to meet officials on oil production
Saudi Arabia surpasses Russia as top OPEC+ producer
-Analysis by Energy Intelligence show output levels of two major oil producers have been equal since April 2020
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Saudi King says OPEC+ production deal ‘essential’
- Major oil producers of OPEC+ are scheduled to meet next week to decide an output scheme in February
Oil up after S. Arabia imposes oil price hike for Asian, US buyers
- Decision comes after Saudi Arabia and Russia led group of major oil producers on agreement to keep January output unchanged
Saudi oil giant Aramco profit soars 158% in 3Q21 on higher oil prices, volumes
- Aramco gained $30.4 billion in July-September period of this year, compared to $11.8 billion in same period of 2020
Political motives lie behind US' call on OPEC+ to accelerate output: experts
- US is aware of OPEC+ spare capacity of around 6.5 million bpd and will continue political pressure on group and Saudis
Oil down as deep Saudi price cut signals demand slip in Asia
- Further price declines are limited by supply disruptions in US after Hurricane Ida
Saudi oil supremacy confronted by UAE's rejection of unconditional obedience
- Cartel's insistence of 'one-size-fits-all' approach results in UAE revolt, which may prompt more opposition, experts say
OPEC+ reaffirms prior decision to gradually ease output till July
- Next meeting of OPEC and non-OPEC members scheduled for July 1
Saudi oil giant Aramco reports 30% profit rise in 1Q21
- Aramco's first quarter 2021 profits hit $21.7 billion compared to $16.6 billion in same period of last year
IMF revises down Saudi economic growth to 2.1% for 2021
- Budget deficit widened to 11.3% of GDP in 2020 as oil revenues fell and expenditure needs increased
Saudi Arabia in talks to sell 1% stake in Aramco
- Firm's IPO is part of Vision 2030 initiative to steer country away from oil dependency
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S. Arabia grants oil to Yemen to prevent power outages
- Yemen struggles with frequent power outages due to depletion of diesel fuel used in power plants
Oil-rich Saudi Arabia branches into solar power
- Saudi Arabia's latest steps on solar energy will help the country reach 3,670 megawatts of solar capacity
Brent leaps over alleged attacks on Aramco facilities
- Tensions in region were already heightened after cyber-attack on Iran’s main nuclear facility on Sunday
Aramco signs $12.4B infrastructure investment deal
- Newly-formed Aramco subsidiary, Aramco Oil Pipelines Company, will lease usage rights in Aramco’s stabilized crude oil pipelines network for 25-year period
Siemens Energy signs long-term service deal with Aramco
-15-year agreement covers power supply at four major oilfields of Saudi Arabia’s state oil company
OPEC+ meeting begins with cautious optimism
- Saudi energy minister warns OPEC+ should maintain cautious stance until evidence of recovery is undeniable
Iraqi PM makes first official visit to Saudi Arabia
- 5 memoranda of understanding signed between two countries as part of visit aimed at strengthening bilateral relations
Saudi Arabia offers cease-fire plan to Houthis in Yemen
- Riyadh hopes Houthis to respond positively, provide opportunity for political solution, says Saudi foreign minister
23.03.2021
Middle East-Africa
OPEC+ agrees to extend output cuts for another month
- New production scheme again includes output rise exemption for Russia and Kazakhstan
Qatar to resume trade with Saudi Arabia on Feb. 14
- Qatari customs authority issues regulatory controls pertaining to movement of imported, transiting goods
11.02.2021
Middle East-Africa