Saudi Basic Industries Corp (Sabic), one of the world's largest petrochemicals groups, said on Monday it is studying launching a jointly-owned petrochemicals complex with an affiliate of US firm Exxon Mobil (NYSE: XOM). The project will be on the US's Gulf Coast, possibly in Texas or Louisiana, and will include a production facility which will supply ethylene to other units to produce ethylene derivatives, Sabic said in the statement. The two parties will conduct studies and work with state and local officials to help identify a potential site with adequate infrastructure access before making a final investment decision, said Sabic.
Saudi Arabia’s guardianship system remains the most significant impediment to realising women’s rights in the kingdom, according to a new report.
OPEC forecast higher demand for its crude next year as the global surplus fades, while Saudi Arabia pumped near-record levels amid peak summer consumption.
Russia and Saudi Arabia are going head-to-head in a bid to lock-down the Chinese import market.
Saudi Arabia’s foreign-currency reserves rose modestly in May for the first time in 16 months, probably due to a $10 billion syndicated loan concluded in the previous month.
Oil markets are improving as supply and demand are seen to be almost balancing, according to Saudi Arabia's energy minister.
OPEC said its oil revenue plunged by $438billion to a 10-year low last year, as an increase in export volumes failed to compensate for the collapse in prices.
Corrosion and erosion monitoring specialist Permasense has appointed STARC (Saudi Trading And Research Company Ltd) to support it expanding Middle East operation by becoming its representative in Saudi Arabia.
Saudi Arabia’s state electricity utility is seeking bids from international developers to build two solar-power plants in the kingdom’s northern region.
Saudi Arabia, the world’s largest crude exporter, raised pricing on most of its oil grades for sales to Asia in July after the nation’s oil minister said demand was robust.
OPEC plans to stick to its policy of unfettered oil production after members failed to agree on a new output ceiling, according to a delegate at the group’s meeting in Vienna.
Saudi Arabia is ready to consider a surprise deal with fellow OPEC members, attempting to mend divisions that had grown so wide many dubbed the group as good as dead.
In the rarefied world of oil macroeconomics there appears to be widespread - if grudging - admiration for Saudi Arabia's refusal to blink over its policy to continued high levels production as the oil price crashed.
Saudi Aramco, the world’s largest crude producer, plans to increase the capacity of its main cross-country pipeline by 40 percent as the company expands oil fields in the eastern part of the nation and builds refineries on the western coast.
Saudi Arabia’s planned privatisations, including a share sale in the world’s biggest oil company, represent the biggest investment banking opportunity in emerging markets, according to Citigroup Inc.
Saudi Arabia has been fighting with fellow OPEC members since the oil rout started two years ago.
Technip has landed an engineering deal in Saudi Arabia with CTCI.
Saudi Arabia, one of the founders of OPEC, is sounding the group’s death knell.
General Electric Co. agreed to take part in $3 billion of Saudi Arabia investments as the desert kingdom seeks to diversify its economy away from crude.
The United States produced more than twice the petroleum and natural gas hydrocarbons as Saudi Arabia produced in 2015.
Cape, which provides support services to the energy and natural resources sectors, reported mixed trading conditions in the first quarter of 2016 with margins lower than expected but with "solid" order intake and revenue.
There are currently no proposals on the table for OPEC to revive limits on crude output at its June meeting after the failure of talks to freeze production last month, according to six delegates from the group.
Saudi Arabia's oil output is expected to edge up closer to record highs in the coming weeks to meet Summer demand for power.
Saudi Arabia’s Cabinet has approved a plan laying out economic reform priorities for the next 15 years which are aimed at moving the kingdom away from its reliance on fossil fuels.
Saudi Arabian Oil Co. will complete the expansion of its Shaybah oilfield by the end of May, allowing the biggest crude exporter in the world to maintain the level of its total production capacity, according to two people with knowledge of the plan.