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: OPEC
Vladimir Putin to visit Saudi Arabia in October
:: Russian President Vladimir Putin will visit Saudi Arabia in October, the Kingdom’s Energy Minister Khalid Al-Falih said Monday. Al-Falih, who was in Moscow for talks with his Russian counterpart, said Saudi companies were considering taking part in a methanol
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
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 Arabia steps up oil diplomacy ahead of OPEC meeting
:: Saudi Energy Minister Khalid Al-Falih and his staff are busy these days. The minister and some of his aides are in continuous talks with global producers to convince them to attend the meeting of OPEC in Vienna on Nov.
Saudi Arabia ready to extend oil output cut deal
:: Crown Prince Mohammed bin Salman on Saturday reiterated Saudi Arabia’s readiness to support the extension of a global oil production cut agreement. “The Kingdom affirms its readiness to extend the production cut agreement, which proved its feasibility by rebalancing
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 Arabia determined to end oil glut
:: Saudi Arabia is determined to reduce inventories further through an OPEC-led deal to cut crude output and raised the prospect of prolonged restraint once the pact ends to prevent a buildup in excess supplies. Saudi Energy Minister Khalid Al-Falih,
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
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
OPEC on its 57th birthday: Still alive
By : Wael Mahdi :: This year marks the 57th anniversary of the creation of the Organization of Petroleum Exporting Countries (OPEC). The world’s best-known oil organization was born on Sept.14, 1960 in Baghdad with five founding members: Saudi Arabia,
Why OPEC needs to think outside the box
By : Wael Mahdi :: The outlook for the oil market over the coming few years is scary — not because there will be no demand for oil, but because it is becoming extremely hard to predict developments. Andy Hall,
Why OPEC’s Long-Term Strategy needs regular reviews
By : Wael Mahdi :: It was in Saudi Arabia in November 2007, only a few days ahead of the third summit of the Organization of the Petroleum Exporting Countries (OPEC) heads of state, that I met with one of
Nigeria to put off deciding whether to join OPEC cuts, minister says
:: Nigeria supports OPEC’s efforts to stabilize oil prices, but it wants to wait before deciding whether join the alliance’s cuts in oil production, its oil minister said on Wednesday. “Hopefully, in the next two to three months we can
From shale to electric cars, a packed agenda for OPEC
By : Wael Mahdi :: The Joint Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC Ministerial Monitoring Committee (JMMC) is set to meet in Russia later this month after the committee’s mandate was broadened in May by OPEC ministers.
Tunisian president orders army to protect oil and gas fields
:: Tunisia’s President Beji Caid Essebsi on Wednesday ordered the army to protect phosphate, gas and oil production facilities after protests aimed at disrupting output broke out in the south of the country. It is the first time troops in
Saudi Aramco CEO says oil market rebalancing after OPEC-led cuts
The oil market is moving towards a balance between supply and demand with the help of an agreement reached between OPEC and other producers to cut production, the chief executive of Saudi Aramco said on Thursday. The Organization of the
To enhance transparency, OPEC and UAE to launch oil and gas database
OPEC and the United Arab Emirates’ ministry of energy will next week launch the first phase of a new global oil and gas database project aiming to develop an easy-to-use tool to analyse energy information and allow for more transparency.
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
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