Tag Archive

Saudi Aramco and Dubai Electricity & Water Authority sign MoU

Saudi Aramco and Dubai Electricity & Water Authority sign MoU

January 21, 2019 No Comments

Saudi Aramco today signed a Memorandum of Understanding (MoU) with Dubai Electricity & Water Authority (DEWA) to foster collaboration in power supply and demand management. The MoU will also provide a framework to assess potential collaborations and ventures in new energy and smart grid applications, digital transformation, and operational excellence. “We look forward to our […]

Crude Oil Price Movement to 18/12/18

Crude Oil Price Movement to 18/12/18

December 18, 2018 No Comments

The price of OPEC basket of fifteen crudes stood at $58.24 a barrel on Monday, 17 December 2018, compared with $59.07 the previous day, according to OPEC Secretariat calculations. WTI CRUDE • 48.70 BRENT CRUDE 58.0 Prices were pushed lower as production reached near record highs in the US and Saudi Arabia. Russia’s output has […]

Deeper Oil Production Cuts may be needed in late 2019

Deeper Oil Production Cuts may be needed in late 2019

December 17, 2018 No Comments

Production cuts agreed by OPEC and its allies are on track to balance global oil markets in the first half of 2019, but more work may be needed after that. If Saudi Arabia, Russia and other countries in the so-called OPEC+ coalition cut production by 1.2 MMbpd as promised for the first six months of […]

Saudi Aramco and Raytheon to establish JV in cybersecurity

Saudi Aramco and Raytheon to establish JV in cybersecurity

December 14, 2018 No Comments

Saudi Aramco and Raytheon Company, through its subsidiary Raytheon Saudi Arabia, signed a Memorandum of Understanding to establish a joint venture company that will develop and provide best-in-class cybersecurity services in Saudi Arabia and the region. The joint venture company will market and provide integrated defensive cybersecurity software and hardware capabilities, and perform research and […]

Libya, Iran, Venezuela Secure OPEC Production Cut Exemptions

Libya, Iran, Venezuela Secure OPEC Production Cut Exemptions

December 10, 2018 No Comments

Whether you call it an exemption or a special dispensation, Iran, Libya, and Venezuela have all been spared the pain of cutting production under the newest OPEC agreement forged today with the help of non-OPEC Russia. The real reasons behind the exemptions may never be known, but one thing is for sure: Iran, Libya, and […]

The Saudi Dilemma: To Cut Or Not To Cut

The Saudi Dilemma: To Cut Or Not To Cut

December 4, 2018 No Comments

To cut and push up prices or not to cut and preserve market share, this is the question that Saudi Arabia is facing ahead of this year’s December OPEC meeting. It seems like just yesterday when OPEC met in 2016 and decided to cut production by 1.8 million barrels daily, including from Russia, to reverse […]

Russia agrees oil output cut

Russia agrees oil output cut

December 3, 2018 No Comments

President Vladimir Putin said that Russia and Saudi Arabia had agreed to renew a pact on oil production cuts, as crude prices slump on global markets. Following talks at a G20 summit with Saudi Crown Prince Mohammed bin Salman, Putin reportedly stated, on Saturday the world’s two biggest exporters of crude “have agreed to extend […]

Localization Efforts in Saudi Arabia

Localization Efforts in Saudi Arabia

December 3, 2018 No Comments

Baker Hughes, a GE company (NYSE:BHGE) received recognition for its localization efforts and announced a series of agreements at Saudi Aramco’s In-Kingdom Total Value Add (IKTVA) Forum. The agreements are in line with Saudi Aramco’s 2030 vision and IKTVA program. BHGE’s support for the advancement of Saudi local suppliers and development of in-country expertise was […]

TechnipFMC Breaks Ground on New Training Facility in Saudi Arabia

TechnipFMC Breaks Ground on New Training Facility in Saudi Arabia

November 22, 2018 No Comments

TechnipFMC has broken ground on its new state-of-the-art manufacturing, aftermarket and training facility in Dhahran in the eastern region of Saudi Arabia. The 52,500-square-meter facility greatly expands TechnipFMC’s footprint in Saudi Arabia with a major investment and 140 new jobs focusing on Saudi talents. The new facility will offer a broad range of manufacturing, aftermarket […]

Global Oil Today

Global Oil Today

November 15, 2018 No Comments

The price of OPEC basket of fifteen crudes stood at $64.51 a barrel on Wednesday, 14 November 2018, compared with $67.01 the previous day, according to OPEC Secretariat calculations. The December light, sweet crude contract on the New York Mercantile Exchange dropped stood at $55.69/bbl. The NYMEX natural gas price for December was up 31¢ […]

Page 1 of 2512345»1020...Last »