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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¢ […]

Oil Price Manipulation must stop!!

Oil Price Manipulation must stop!!

November 13, 2018 No Comments

The headlines across the world today read….’Oil prices rise as Saudi Arabia signals production cut’, ”Oil price rises as Saudi Arabia pledges supply cut” , ” Saudi Arabia is reducing oil supply and OPEC may cut too” ”Saudi Arabia’s Call for an Output Cut Pushes Oil Prices Higher” They want to reduce oil supply by […]

Saudis Scramble To Stop Oil Price Slide

Saudis Scramble To Stop Oil Price Slide

November 13, 2018 No Comments

Saudi Arabia is moving quickly to halt the slide in oil prices, telegraphing a production cut intended to erase some of the re-emerging supply surplus. Saudi oil minister Khalid al-Falih said on Monday that the kingdom would slash oil exports by 500,000 bpd in December, a move that would go a long way to reversing […]

Major oil and gas exporters face challenges in years ahead – IEA

Major oil and gas exporters face challenges in years ahead – IEA

October 26, 2018 No Comments

Major oil and gas exporters have weathered many upheavals in recent decades but a renewed commitment to reform and economic diversification will be vital to cope with the changing dynamics of global energy. These include rising production from new sources such as shale, uncertainties over the pace of oil demand growth and deployment of new […]

Saudi Aramco signs 15 Memoranda of Understanding (MoUs)

Saudi Aramco signs 15 Memoranda of Understanding (MoUs)

October 25, 2018 No Comments

At the highly impactful Future Investment Initiative (FII) forum in Riyadh today, Saudi Aramco signed 15 Memoranda of Understanding (MoUs) and strategic and commercial collaborations valued at more than US$34 billion with 15 international partner companies and entities from eight countries in 3 continents. These collaborations reflect the range and ambition of Saudi Aramco’s business […]

Saudi Aramco and Total To Build a Petrochemical Complex in Jubail

Saudi Aramco and Total To Build a Petrochemical Complex in Jubail

October 8, 2018 No Comments

Amin H. Nasser, President and Chief Executive Officer of Saudi Aramco and Patrick Pouyanné, Chairman and Chief Executive Officer of Total, signed today in Dhahran the joint development agreement for the front-end engineering and design (FEED) of a giant petrochemical complex in Jubail, on Saudi Arabia’s eastern coast. Announced in April 2018, the world-class complex […]

Saudi Aramco promotes small and medium enterprise investment in Saudi Arabia

Saudi Aramco promotes small and medium enterprise investment in Saudi Arabia

October 3, 2018 No Comments

Saudi Aramco participated in the U.S.-Saudi Arabian Business Council’s (USSABC) premier U.S.-Saudi SME Forum in Los Angeles, adding momentum to ongoing efforts by the integrated energy and chemicals giant to develop a locally accessible, reliable and innovative supply chain. Senior Vice President of Technical Services Ahmad A. Al-Saadi was a keynote speaker at the forum […]

Aramco Asia, China University of Petroleum to further strategic collaboration

Aramco Asia, China University of Petroleum to further strategic collaboration

October 1, 2018 No Comments

Saudi Aramco recently signed a Memorandum of Understanding (MoU) with China University of Petroleum in Beijing (CUPB) to enhance their partnership and closer collaboration. The MoU is intended to explore added value opportunities for joint research in the field of research and technology, education, social outreach, and community service betterment for mutual benefit. The MoU […]

$100 Oil Is A Distinct Possibility

$100 Oil Is A Distinct Possibility

September 26, 2018 No Comments

An oil price spike is starting to look increasingly possible, with a rerun of 2008 not entirely out of the question, according to a new report. The outages from Iran are worse than most analysts expected, and bottlenecks in the U.S. shale patch could prevent non-OPEC supply from plugging the gap. To top it off, […]

U.S. overtakes Russia, Saudi Arabia as world’s largest crude producer

U.S. overtakes Russia, Saudi Arabia as world’s largest crude producer

September 20, 2018 No Comments

The United States has risen to the top the list of oil-producing countries for the first time in almost 45 years. The US overtook Saudi Arabia for monthly crude oil production back in February and likely surpassed Russia some time in June or August, new data shows which comes after the development of fracking led […]

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