Saudi Arabia – Oil & Gas 360

Saipem wins $600 million offshore EPC contracts with Aramco in Saudi Arabia

December 31, 2025

(World Oil)– Saipem has won two offshore Contract Release Purchase Orders (CRPO) in Saudi Arabia, reinforcing its position as a leading EPC contractor in the Kingdom. The contracts are worth approximately $600 million, and expand Saipem’s long-standing partnership with Aramco. The first work package (CRPO 162), spanning 32 months, covers engineering, procurement, construction and installation of roughly 34 km of pipeline—ranging from

Will Saudi Arabia/UAE tensions over Yemen threaten OPEC status quo?

December 31, 2025

(Oil Price)– The latest flare-up between Saudi Arabia and the United Arab Emirates over Yemen looks dramatic on the surface, but OPEC cohesion, not missiles or militias, is what ultimately matters to the oil markets, which is why the latest public spat between Saudi Arabia and the UAE over Yemen created just a temporary blip in crude prices. Saudi forces

Saudi Arabia set to lower oil prices to Asia again

December 29, 2025

(Oil Price)– Saudi Arabia is expected to further lower the price of its crude oil bound for Asia in February, as global supply remains plentiful and spot benchmarks in the Middle East have dropped, a Reuters survey of six Asian refining sources showed on Monday. Saudi Arabia, the biggest crude exporter in the world, is poised to reduce the price of

From oil giant to mining superpower—Saudi Arabia’s next big move

November 18, 2025

(Oil Price)– In the coming days, the media will push themes related to the upcoming meeting between Saudi Crown Prince Mohammed bin Salman (MBS) and US President Trump in Washington. While most will be looking at the possibilities of Saudi investments in US LNG via Aramco or defense deals, Saudi Arabia’s mineral strategy and opportunities will also be on the

Saudi Arabia awards five renewables projects worth $2.4 billion

October 28, 2025

(Oil Price) – Saudi Arabia has awarded one wind power and four solar power projects in the country worth a total estimated investment of $2.4 billion (9 billion Saudi riyals), the official Saudi Press Agency reports. Saudi Power Procurement Company, the principal buyer of the projects, awarded the five projects with a total capacity of 4.5 gigawatts (GW), as part of the

Aramco awards Baker Hughes multi-year coiled tubing drilling contract

October 24, 2025

(World Oil)– Baker Hughes has secured a multi-year agreement from Aramco to significantly expand its integrated underbalanced coiled tubing drilling (UBCTD) operations across Saudi Arabia’s natural gas fields. The order, booked in the third quarter of 2025, will see Baker Hughes increase its active UBCTD fleet from four to ten units beginning in 2026. Under the new contract, Baker Hughes

Saudi Arabia’s crude oil exports jumped by 400,000 bpd in August

October 22, 2025

(Oil Price) – Saudi Arabia’s crude oil exports surged by 413,000 barrels per day (bpd) in August, to the highest level in six months, as the world’s top crude exporter and the OPEC+ group accelerated the reversal of the production cuts. Saudi Arabia’s crude oil production also soared in August, by 521,000 bpd from July, the latest data by the Joint

IMF ups Saudi Arabia’s 2025 GDP growth forecast to 4% as oil output rises

October 14, 2025

(BOE Report)– The International Monetary Fund upgraded its 2025 economic growth forecast for Saudi Arabia on Tuesday due to a faster-than-expected unwinding of oil production cuts in the world’s top crude exporter. In its latest World Economic Outlook, the IMF lifted its forecast for Saudi Arabia’s GDP growth in 2025 to 4%, from 3% it projected in April. Growth in

Low oil prices: Saudi gift to Trump or ticking bomb?

October 7, 2025

(Oil Price)– OPEC+ yesterday agreed to yet another monthly boost in production, this time for a modest 137,000 barrels daily. Oil prices inched up, yet they remain tightly range-bound, with Brent at just over $65 per barrel following the news. On the one hand, this is good news for consumer countries—including the U.S. On the other hand, it’s bad news for

Oil rises after OPEC+ hikes output less than expected

October 6, 2025

(Investing) – NEW YORK -Oil prices rose by about $1 on Monday after OPEC+’s planned production increase for November was more modest than expected, tempering some concerns about supply additions, though a soft outlook for demand is likely to cap near-term gains. Brent crude futures climbed $1.07, or 1.66%, to $65.60 a barrel by 12:52 p.m. EDT (1652 GMT), while U.S. West

What’s the real reason behind OPEC+’s surprise oil production boost?

September 19, 2025

(Oil Price)-OPEC+’s decision last week to increase its collective oil production has surprised many, given the soft outlook for oil prices for the remainder of this year and into next. It is true that the 137,000 barrels per day (bpd) rise from October is much lower than the 411,000 bpd and 555,000 bpd respective increases for the June and July

Low oil prices force Saudi Arabia to tap more debt

September 2, 2025

(Oil Price)– Saudi Arabia’s budget deficit is growing this year as oil prices are down from last year’s levels and well below the $90 per-barrel price the Kingdom is estimated to need to balance its budget. Brent Crude oil prices have declined by about 8% since the beginning of the year, at around $69 a barrel as of early Tuesday, additionally

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