Saudi King and Crown Prince Condole Kuwait
In a heartfelt gesture of solidarity, Saudi Arabia’s King Salman and Crown Prince Mohammed bin Salman expressed their deepest condolences to the Emir of Kuwait on Monday following the passing of Sheikh More »
Putin and Abbas Discuss Gaza Crisis
Russian President Vladimir Putin is set to meet with Palestinian President Mahmoud Abbas on Tuesday during Abbas’ visit to Russia. Arriving on Monday, Abbas aims to discuss the ongoing Gaza conflict with More »
Saudi Arabia Voices Strong Support for Gaza Peace Initiatives
Saudi Arabia has firmly aligned itself with the recent joint statement made by President Joe Biden of the United States, President Abdel Fattah El-Sisi of Egypt, and Sheikh Tamim bin Hamad Al-Thani, More »
Saudi Crown Prince, US Secretary of Defense discuss troop deployment
:: Saudi Arabia’s Crown Prince Mohammed bin Salman received a phone call on Wednesday from the US Secretary of Defense during which they discussed ongoing arrangements to send US troops of a More »
Saudi Energy Minister confirms restoration of Kingdom’s gas production capacity
:: Saudi Arabia’s Minister of Energy confirmed on Wednesday the restoration of production capacity, affirming the Kingdom’s position as a reliable energy supplier in the global market. The energy minister, Prince Abdulaziz More »
Category Archives: Energy
Oil prices extend gains after drop in US stockpiles
Crude oil prices rose on Thursday to extend gains from the previous session after official government data showed US stockpiles had eased from record highs. Prices surged on Wednesday after a slew of market reports and official data offered some
Saudi energy minister keeping close eye on US oil producers
Khalid Al-Falih, minister of energy, industry and mineral resources says the Organization of the Petroleum Exporting Countries’ (OPEC) production cuts are working to bolster crude prices and Saudi Arabia will look at whether other oil-producing nations are living up to
Saudi Arabia’s Aramco to invest $7 bln in Malaysia oil refinery
Malaysian Prime Minister Najib Razak said Monday that oil major Saudi Aramco will invest $7 billion in a mammoth oil processing hub in Malaysia, making it the single largest investor in the Southeast Asian country. The announcement came on the
King Salman’s month-long Asia visit to boost trade, religious ties
Saudi King Salman bin Abdulaziz al-Saud’s month-long visit through Asia, alongside his 1,500-person entourage, is being described as a bid to strengthen ties with a region the kingdom sees as an increasingly valuable economic partner. According to a newspaper report,
Saudi Electricity Company signs pact with PCMC to reduce carbon emissions
The Saudi Electricity Co. (SEC) and the Petroleum, Chemicals and Mining Co. (PCMC), a subsidiary of the Saudi Binladin Group, have signed a partnership and cooperation agreement aimed at reducing carbon emissions. The deal, which is to be implemented via
Iraq’s Basra oil export terminal to stop loading for 24 hours
Iraq’s main oil export terminal, off the southern city of Basra, will stop loading operations for 24 hours, starting midnight Tuesday, because of work to install a new pipeline feeding the facility, two sources at the state-run South Oil Company
Oil edges further above $55 on Russia, OPEC cuts
Oil edged further above $55 a barrel on Wednesday supported by signs that Russia and OPEC producers are delivering on promised supply reductions, although a report showing a large rise in US crude inventories limited gains. Russia has cut production
Oil edges further above $55
Oil edged further above $55 a barrel on Wednesday supported by signs that Russia and the Organization of the Petroleum Exporting Countries (OPEC) are delivering on promised supply reductions, although a report showing a large rise in US crude inventories
Oil slips as US drilling recovery weakens deal to cut output
Oil prices fell on Monday as news of another weekly increase in US drilling activity spread concern over rising output just as many of the world’s oil producers are trying to comply with a deal to pump less to try
Oil experts cautiously optimistic over Saudi oil output cut
Saudi Minister of Energy, Industry and Mineral Resources Khalid Al-Falih’s announcement on Thursday that the Kingdom has reduced its oil output to its lowest levels in two years has created a wave of cautious optimism. The announcement, made at the
UAE’s ADNOC says fire at Ruwais oil refinery contained
Abu Dhabi’s state-owned national oil company ADNOC said on Wednesday it had contained a fire at the Takreer Ruwais refinery and that production and supply had not been affected. ADNOC had earlier said on its Twitter account that no casualties
GCC and Russia ministers discuss ways to ensure oil market stability
GCC energy ministers and Russian Energy Minister Alexander Novak Sunday discussed the current developments in the oil market, including cooperation between the Gulf states and Russia in the energy sector to stabilize crude prices. The tone for the GCC-Russia energy
KSA is among the healthiest of oil producing countries
Saudi Arabia is among the healthiest of the oil producing countries of the world, a top Riyadh-based economist asserted Saturday as reports said the Kingdom, Russia, Qatar and Venezuela will monitor the oil market following the recent agreement in Doha
KSA, Russia agree to freeze oil output
Al-Naimi: Kingdom wants stable crude price Top global producers Saudi Arabia and Russia have agreed to freeze oil output in a bid to shore up prices after a 70 percent drop due to chronic oversupply. According to AFP, Petroleum and
Nigeria seeks talks with Gulf producers
The mood inside the Organization of the Petroleum Exporting Countries (OPEC) is shifting from mistrust to a growing consensus that a decision must be reached on how to end the global oil price rout, Nigeria’s oil minister told Reuters. Oil
Oil tumbles close to 12-year lows
US crude oil prices were down as much as 4 percent on Thursday, approaching 12-year lows hit last month, weighed down by brimming US crude inventories and a Goldman Sachs forecast that prices would remain low and volatile until the
ECB to decide soon on fate of 500-euro banknotes
The European Central Bank will take a decision soon on whether to keep printing 500-euro banknotes, with the arguments for doing so becoming “less and less convincing,” a top-ranking official said. “We’re actively considering the question and will take a
Saudi Arabia, Venezuela focus on measures to stabilize oil prices
Saudi Arabia and Venezuela discussed on Sunday ways to stabilize the crude market. Petroleum and Mineral Resources Minister Ali Al-Naimi and Venezuelan Oil Minister Eulogio Del Pino discussed the latter’s recent talks with other crude producers and the results of
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