Saudi Arabia – Page 21 – Oil & Gas 360

Saudi Arabian Companies Plan Massive Houston-Area Investments

April 9, 2018

Could add to $10 billion in projects pending study From the Houston Chronicle Saudi Arabia’s premier energy companies are planning to invest billions of dollars in their Houston-area petrochemicals operations to take advantage of cheap natural gas feedstocks from West Texas shale fields. Saudi Aramco, the world’s largest oil company, signed two separate agreements with oil-equipment makers TechnipFMC, which has headquarters

Oil Dips but Tensions Over Iran, Saudi Nukes Support Crude Price

March 19, 2018

From Reuters NEW YORK (Reuters) – Oil prices slipped on Monday as Wall Street slid more than 1 percent and energy market investors remained wary of growing crude supply, although tensions between Saudi Arabia and Iran gave prices some support. Brent crude futures LCOc1 were down 34 cents at $65.87 a barrel by 11:35 a.m. EST (1535 GMT). U.S. West

As Saudi Prince Visits U.S., Shale Transforms Oil Relationship

March 19, 2018

From Bloomberg From Franklin Roosevelt to George W. Bush, American presidents saw oil as the cornerstone of the relationship between Saudi Arabia and the U.S. — a steady supply from the Middle East’s largest exporter was considered crucial to the economy’s well-being. As Saudi Crown Prince Mohammed bin Salman travels to America this week, the Texas-to-North Dakota shale boom has

The Shale Boom in the Permian Is Slowing Down - 360

Permian Seen Second to Saudis for Spare Oil-Output Capacity

February 5, 2018

From Bloomberg Permian could boost crude output in days: Aramco’s former reservoir management chief The U.S.’s Permian Basin is looking like Saudi Arabia, with as much as 1 million barrels of spare oil capacity ready to go into production, according to Nansen Saleri, former head of reservoir management at Saudi Aramco, the world’s largest crude exporter. Oil producers in the

OPEC’s Cheer Over 2018 Oil Rally Tinged by Shale Worries

January 10, 2018

From Reuters Oil’s price rally this year to its highest since May 2015 may seem a source of glee for OPEC, but some in the producer group fear the gains could prompt shale companies to crank open their spigots and flood the market. Benchmark Brent crude rose further above $68 a barrel on Tuesday, supported by oil output cuts led

Saudi Arabia 2018 Budget Shifts Away From Oil Revenues

December 29, 2017

Saudi Arabia plans to spend $261 billion in 2018. The budget will set a record for Saudi Arabia, as it looks to reform the country’s economy and reduce reliance on oil revenues. Forbes reported that Saudi Arabia plans to cut gasoline subsidies, creating a 80% price jump in January 2018. The article notes that gasoline prices were very low –

Saudi Arabia Searching for U.S. Shale-Oil Deal: Sources

December 21, 2017

From Dow Jones/Fox Business Saudi Arabia is hunting for an energy deal in American shale country. Saudi Arabian Oil Co., known as Aramco, has had initial conversations about either taking a stake in Tellurian Inc., a Houston-based liquefied-natural-gas developer, or agreeing to buy some of its fuel in the future, people familiar with the matter said. Separately, it has also

Saudi Arabia Now Targeting U.S. Data to Boost Prices

June 15, 2017

As production cuts fail to raise prices further, Saudi Arabia looks to influence U.S. data to strengthen commodity prices Crude oil prices hit a five-week low Wednesday as OPEC production rose and U.S. inventories showed smaller than expected draws. OPEC has been trying to bolster oil prices with a production cut deal, but increased output from Libya and Nigeria, both

Saudi Arabia Cutting Exports to Asia by 300 MBOPD

June 12, 2017

Saudi Arabia will be shipping less crude to Asia in June as it prepares for stronger local demand Saudi Arabia, the world’s top oil exporter, will reduce the number of barrels it sends to Asian markets in July by about 300 MBOPD from June levels. State-run Saudi Aramco will supply full contracted volumes to at least five Asian buyers mainly

OPEC: We Will Do “Whatever it Takes” to Rebalance Oil Markets

May 8, 2017

OPEC could extend cuts to 2018, but in the long run U.S. shale “won’t make a dent” As oil prices struggle to stay above $50 per barrel, OPEC appears to be ready to extend production cuts through the second half of 2017 in an attempt to rebalance markets. Both WTI and Brent crude oil prices were up slightly today, but

EnerCom Exclusive: Tom Petrie Discusses the Effects of Saudi Oil on the U.S. Oil and Natural Gas Sector

March 10, 2017

The Saudi Aramco IPO, U.S. crude oil exports, U.S. LNG exports During last week’s EnerCom Dallas oil and gas investment conference, Tom Petrie, chairman and founder of Petrie Partners, gave a luncheon presentation entitled “Scoping 21st Century Energy Geopolitics.” At its heart, Petrie’s presentation was a look at “today’s realities” especially concerning Saudi Arabia’s oil fortunes, U.S. Middle East policy

Saudi Aramco Eyeing Billions in Investments ahead of IPO

March 7, 2017

Aramco looking at making a $5 billion solar investment to attract attention to oil company’s IPO Saudi Aramco, the world’s largest oil company in terms of production, is considering a $5 billion investment in solar energy. The substantially step into the renewable energy sector is part of a broader effort by Saudi Arabia to reduce its dependence on fossil fuels,

Premium Content