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 »
Tag Archives: OIL
Iraq, US deny planned evacuation of contractors from Iraqi base
:: Iraqi and US military spokesmen denied on Saturday that US forces were preparing to evacuate hundreds of staff of Lockheed Martin Corp and Sallyport Global from an Iraqi military base where they work as contractors. Four separate military sources,
Trump talks to Saudi Crown Prince on Iran, oil
:: US President Donald Trump spoke on Friday to Saudi Crown Prince Mohammed bin Salman about Middle East stability and the oil market, the White House said, after tensions with Iran prompted a rise in oil prices. “The two leaders
Rouhani threatens to block all Gulf oil exports if Iran can’t export oil
:: Iran has threatened to block the waterway in which oil exports are shipped on Tuesday, with Iranian President Hassan Rouhani reiterating that the United States will not be able to stop the country from exporting its oil and any
Headquarters of Libya national oil firm under attack, chairman evacuated
:: Blasts were heard at the headquarters of the National Oil Corporation (NOC) in the Libyan capital on Monday and a security operation was under way at the building, a Reuters witness said. Smoke could be seen rising from close
Saudi Arabia to send monthly oil derivatives worth $60 mln to Yemen
:: Saudi Arabia will send oil derivatives worth $60 million to Yemen every month to help operate electric power plants, the Saudi ambassador to Yemen Mohammed al-Jabir said. Jabir added that this decision was made under the directives of Saudi
Saudi Arabia says ready to pump more oil to balance market
:: Saudi Arabia has said it is ready to use its spare production capacity in order to help balance the global oil market, according to a Cabinet statement released on Tuesday. The Kingdom, which has been pumping around 10 million
Saudi Arabia, Russia focus on rebalancing oil markets
:: Rebalancing oil markets was high on the agenda when King Salman and Russian Energy Minister Alexander Novak held official talks on Wednesday exploring aspects of cooperation between their two countries. The talks at Al-Yamamah Palace addressed bilateral relations and
Oil prices gain after OPEC extension of output cut
:: Oil futures rose on Friday after OPEC and other major producers agreed to extend their production curbs in a widely expected move aimed at ending a persistent glut in global supplies. The Organization of the Petroleum Exporters (OPEC) and
Saudi Crown Prince say Saudi Aramco IPO on track for 2018
:: Saudi Aramco’s initial public offering is on track for next year, and the national oil giant could be valued at more than $2 trillion, Saudi Arabia’s Crown Prince Mohammad bin Salman told Reuters in an interview. The sale of
Saudi’s Al-Falih says global oil market improving, stabilizing
:: The global oil market is improving and stabilizing, Saudi Oil Minister Khalid Al-Falih said in Baghdad on Saturday. In a speech at the opening of the Baghdad International Exhibition, Al-Falih praised the cooperation between Iraq and Saudi Arabia, which
Iraqi forces seize oil city Kirkuk from Kurds in bold advance
:: Iraqi government forces captured the major Kurdish-held oil city of Kirkuk on Monday, responding to a Kurdish referendum on independence with a bold lightning strike that transforms the balance of power in the country. A convoy of armored vehicles
Iraq’s talks with Exxon on southern oilfields in final stages
:: Iraq’s talks with Exxon Mobil to develop a multi-billion-dollar project to boost output from several southern oilfields are nearing completion, oil minister Jabar al-Luaibi said on Monday. “Talks are in advanced final stages with Exxon to develop and finance
Oil prices stable after OPEC signals possible further action
:: Oil prices stabilised on Monday after one of the most bearish weeks in months propped up by OPEC comments signalling the group and other producers may take further action to restore market balance in the long term. Oil production
Iraqi PM office says Turkey agrees to deal only with Baghdad on oil exports
:: Turkey told Iraq it would deal only with the Iraqi government on crude oil exports, the office of Iraqi Prime Minister Haider al-Abadi said on Thursday. In a phone call with Abadi, Turkish Prime Minister Binali “Yildirim confirmed the
Lukoil to maintain oil production, investments outside Russia
:: Lukoil plans to keep pumping 100 million tons of oil per year between 2018 and 2027 with projects outside Russia and will keep annual investment at $8 billion (SR30 billion)-$8.5 billion, the chief executive said on Saturday. Lukoil, Russia’s
Qatar at center of oil crisis, amid migrant woes and World Cup fears
:: Qatar’s Minister of Foreign Affairs Mohamad bin Abdulrahman al-Thani has said that regaining trust with GCC countries will take a long time. The implications of the Qatari crisis has begun to directly impact expats, with many workers have been
Saudi Crown Prince affirms strong ties with Iraq in all fields
:: Saudi Crown Prince Mohammed bin Salman met Iraqi Oil Minister Jabbar al-Allaibi, Wednesday evening in Jeddah. Prince Mohammed bin Salman affirmed the keenness of the Saudi government to stabilize Iraq and its determination to develop and strengthen relations in
Is the US considering some sanctions on Venezuela oil sector
:: The Trump administration is considering imposing some US sanctions on Venezuela’s vital oil sector in response to Sunday’s election of a constitutional super-body that Washington has already denounced as a “sham” vote, US officials said. The measures, which could
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