Aramco despatches blue ammonia to Japan
Saudi Aramco has sent 40 tonnes of blue ammonia to Japan, for use in zero-carbon power generation.
Saudi Arabia
Saudi calls for UN to tackle Yemeni tanker problem
Saudi Arabia has written to the United Nations Security Council warning of an “oil spot” has been detected offshore Yemen.
Oil rises with Saudi Arabia stressing OPEC+ compliance
Oil climbed on Thursday after Saudi Arabia showed its determination to stop OPEC+ members exceeding their production quotas.
Oil edges higher ahead of OPEC+ meeting with demand in focus
Oil has climbed ahead of an OPEC+ meeting this week that will assess the group’s production cuts as the recovery from virus-driven demand destruction falters.
Updated: Oil extends losses after first sub-$40 close since mid-June
Oil extended losses after its biggest one-day drop in more than two months as growing doubts over the strength of the global demand recovery along with continued weakness in stocks soured market sentiment.
Saudi Arabia’s deep recession and collapsing oil prices: Can it recover?
The Gulf is slated to earn $270 billion less in oil revenue compared to last year. This is to a large extent because the region's economic heavyweight, Saudi Arabia, has been sinking deeper into recession amid the coronavirus pandemic.
OPEC+ urges members to keep to plan amid threats to oil recovery
OPEC+ emphasized the need to stick closely to its planned oil-production cuts to guard against the market recovery being undermined by a resurgence of the coronavirus.
Aramco feels the squeeze
No company has been immune from the headwinds facing the global oil industry, even Saudi Aramco.
Opec+ chiefs insist easing of oil output cuts will ‘barely’ be felt
Oil markets will “barely feel” the impact of additional production by Opec and its allies as demand ramps up across the world, Saudi Arabia’s energy minister said on Wednesday.
UN to discuss “floating oil bomb” offshore Yemen
The United Nations Security Council will discuss the outlook for the Safer tanker, a floating oil storage vessel off Yemen in a state of disrepair.
Aramco plans downstream shake up
Saudi Aramco has launched a reorganisation of its downstream business with the aim of maximising value.
Opec keen to avoid oil ‘taper tantrum’
Saudi Oil Minister Prince Abdulaziz bin Salman likes the idea of OPEC+ acting as the central bank of oil. And he expresses admiration for Alan Greenspan, former chairman of the U.S. Federal Reserve.
Demand coming back but uncertainty high, IEA warns
The worst of the reduction in oil demand came in the second quarter, the International Energy Agency (IEA) has said, and will be down by 5.1 million barrels per day in the second half of the year.
The big oil turnaround: From negative prices to a bull market
Every day, traders in London congregate at 4 p.m. to buy and sell North Sea oil for half an hour. The window, as it’s known in the industry, is where competition between the most powerful players in the market sets the price of Brent crude.
Aramco closes $69bn Sabic deal
Saudi Aramco has completed its purchase of a 70% stake in Saudi Basic Industries Corp. (Sabic) for $69.1 billion.
Saudi oil exports to US fall to lowest level in 35 years
After flooding the U.S. with crude earlier this year, Saudi Arabia has all but cut off the taps to the American oil market.
Aramco pauses Shelf contract
Saudi Aramco has paused its contract for the High Island IV jack-up rig, owned by Shelf Drilling.
Oil steadies after rally paused on Saudi supply move
Oil was anchored near $38 a barrel as expectations U.S. crude stockpiles extended declines offset a decision by Saudi Arabia to cease extra voluntary production cuts by the end of this month.
Oil advances after OPEC+ extends production cuts
Oil rose to trade near $43 a barrel in London after OPEC and its allies agreed to extend historic output curbs by an extra month, promising stricter compliance to ensure members don’t pump more than they pledged.
OPEC+ agrees to extend output cuts as cheats offer penance
OPEC+ agreed to a one-month extension of its record output cuts and adopted more stringent methods to ensure members don’t break their production pledges.
Updated: Oil’s climb continues as strong jobs data adds to OPEC+ optimism
Oil headed for a sixth weekly gain after OPEC+ reached a tentative agreement to prolong its record production cuts and U.S. jobs data were better than expected.
African rig count plummets, while Middle East holds up
Africa has been the hardest hit region in terms of rig numbers, according to Baker Hughes’ May data.
Oil slips with planned Opec+ talks stymied by Iraq obstacle
Oil declined as OPEC+ unity was threatened by a long-running feud over compliance with production cutbacks.
Oil dips as quota cheating casts doubt over Opec+ meeting
Oil erased gains as the OPEC+ meeting was put in doubt over cheating by some nations on their output-cuts deal.
‘Relief’ for some as oil rises past $40, but North Sea activity to remain depressed
Oil prices rose past $40 per barrel mark on Wednesday amid speculation that quotas for international production cuts could be kept higher for longer.