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ENERGY HEADLINES THIS WEEK

ENERGY HEADLINES THIS WEEK

September 22, 2017 No Comments

The price of OPEC basket of fourteen crudes stood at $54.59 a barrel on Thursday, 21 September 2017, compared with $54.06 the previous day, according to OPEC Secretariat calculations. —————- Abu Dhabi targets IPOs worth $5 bln ahead of Saudi Aramco Abu Dhabi is hoping to fast-track at least $5 billion of stock market listings […]

OPEC Is 57

OPEC Is 57

September 18, 2017 No Comments

The Fourteenth of September is always a special day for OPEC. It is the day in 1960 when the five Founding Members of OPEC, Iraq, the Islamic Republic of Iran, Kuwait, Saudi Arabia and Venezuela created OPEC at the historic ‘Baghdad Conference’. Today is the Organization’s 57th anniversary. These five Founding Members representing their oil-producing […]

Russia Still China’s No.1 Crude Supplier

Russia Still China’s No.1 Crude Supplier

August 24, 2017 No Comments

Russia continued to be China’s biggest crude oil supplier in July for a fifth consecutive month, while Chinese refineries have been taking in more Brent-price-linked West African crude at the expense of sour Middle Eastern varieties as OPEC’s cuts led to narrower price differentials making African oil more attractive for buyers. China’s crude oil imports […]

Shell completes SADAF chemicals sale to SABIC for $820mn

Shell completes SADAF chemicals sale to SABIC for $820mn

August 16, 2017 No Comments

Shell has completed the sale of its 50% share in SADAF, the petrochemicals joint venture, located in Al Jubail, in the Kingdom of Saudi Arabia to SABIC for $820 million. This sale was announced on 22 January 2017. Completion follows anti-trust filings in the relevant countries and regulatory approval from the Kingdom of Saudi Arabia. […]

This Oil Price Rally Has Reached Its Limit

This Oil Price Rally Has Reached Its Limit

August 2, 2017 No Comments

Last week, crude oil rallied the most so far this year, gaining more than 8 percent, or $4 per barrel. Oil traders are much more optimistic than they were just a month ago, and the market is on the upswing. However, the rally could run out of steam in the not-so-distant future, a familiar result […]

WorleyParsons awarded Contract in Saudi Arabia

WorleyParsons awarded Contract in Saudi Arabia

July 19, 2017 No Comments

WorleyParsons has been awarded the project management and front end engineering and design (FEED) services for the offshore oil and gas facilities portion and the onshore upstream and downstream pipelines portion of Saudi Aramco’s Marjan Oil Field Development Program. Under the agreement, WorleyParsons will provide project management and FEED services. The services will be executed […]

OPEC Secretary General congratulates new Crown Prince of the Kingdom of Saudi Arabia

OPEC Secretary General congratulates new Crown Prince of the Kingdom of Saudi Arabia

June 28, 2017 No Comments

OPEC Secretary General, HE Mohammad Sanusi Barkindo, has congratulated HRH Prince Mohammed bin Salman Al Saud on his appointment as the new Crown Prince of the Kingdom of Saudi Arabia following the announcement of the decision in a Royal Decree by King Salman Bin Abdul Aziz Al-Saud, the Custodian of the Two Holy Mosques. The […]

ENERGY HEADLINES THIS WEEK:

ENERGY HEADLINES THIS WEEK:

June 28, 2017 No Comments

The price of OPEC basket of fourteen crudes stood at $44.23 a barrel on Tuesday, 27 June 2017, compared with $43.14 the previous day, according to OPEC Secretariat calculations. Futures & Indexes WTI Crude 44.08 Brent Crude 46.85 Mars US 43.79 +0.95 Opec Basket 43.14 —————- Key Petroleum has completed the acquisition of Authorities to […]

Mohammed bin Salman named as first in line to the Saudi Arabia throne

Mohammed bin Salman named as first in line to the Saudi Arabia throne

June 21, 2017 No Comments

Saudi Arabia’s King Salman has appointed his son, Mohammed bin Salman, as next-in-line to the throne. A royal decree removed 57-year-old nephew of the king – Crown Prince Mohammed bin Nayef and replaced him with 31-year-old former deputy crown prince, Salman According to the official Saudi Press Agency, Salman was also named deputy prime minister […]

Saudi Arabia’s plans for renewable energy

June 14, 2017 No Comments

A second wind power project would be open for bids in the fourth quarter of this year followed by more solar projects. The Saudi government is making good on its pledge to introduce solar and wind power into the kingdom’s energy mix so that renewable energy becomes a growing part of the feedstock for the […]

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