Post Tagged with: "Saudi Arabia"

Saudi Daily Oil Output Surpasses Record 11 Million Barrels

Saudi Daily Oil Output Surpasses Record 11 Million Barrels

From Bloomberg

Saudi Arabia is pumping more crude than at any time since its first barrel was extracted 80 years ago, responding to pressure from U.S. President Donald Trump to keep driving oil prices lower.

Saudi daily output reached 11.2 …

November 26, 2018 - 3:12 pm Closing Bell Story‎, Crude Oil News, Energy News
Muhammad bin Salman, Deputy Crown Prince of Saudi Arabia
Photo Credit: The Economist

Saudi Arabia, OPEC’s Anchor, Ponders a Future Without the Cartel

From The Wall Street Journal

Saudi Arabia’s top government-funded think tank is studying the possible effects on oil markets of a breakup of OPEC, a remarkable research effort for a country that has dominated the oil cartel for nearly 60 …

November 8, 2018 - 3:21 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Total CEO Steps Into Eye of Saudi Storm as Other Bosses Balk

Total CEO Steps Into Eye of Saudi Storm as Other Bosses Balk

From Bloomberg 

Total SA boss Patrick Pouyanne proved once again that he’ll go where other business leaders fear to tread.

The storm in Saudi Arabia caused by the killing of dissident journalist Jamal Khashoggi was too much for the chief …

October 24, 2018 - 4:18 pm Closing Bell Story‎
Muhammad bin Salman, Deputy Crown Prince of Saudi Arabia
Photo Credit: The Economist

Saudi Prince Vows Aramco IPO by 2021 – Five Things You May Have Missed: Bloomberg

From Bloomberg

Saudi Crown Prince Mohammed bin Salman, in an interview with Bloomberg last week, promised that the stalled Aramco IPO will take place by 2021 at a valuation of at least $2 trillion, declared his love of working with …

October 8, 2018 - 11:32 am Closing Bell Story‎, Energy News, OPEC
Saudi Arabia v. Canada: Stop Treating Us as ‘A Banana Republic’

Saudi Arabia v. Canada: Stop Treating Us as ‘A Banana Republic’

Canada ruffles a few feathers

From Reuters/Globe and Mail

Saudi Arabia’s foreign minister asked Canada to apologise for demanding the release of Saudi women’s rights activists and stop treating the kingdom as “a banana republic” if it wanted to resolve …

September 28, 2018 - 2:32 pm Closing Bell Story‎, Energy News
Muhammad bin Salman, Deputy Crown Prince of Saudi Arabia
Photo Credit: The Economist

Saudi Sovereign Fund Buying Tesla Shares: $2 Billion Down, $64 Billion to Go

From FreightWaves

On Tuesday, Elon Musk tweeted that he was considering taking Tesla Motors (NASDAQ: TSLA) private at $420 per share, an overall valuation of $82B, which would make the electric car maker the most valuable private company in the …

August 10, 2018 - 12:51 pm Closing Bell Story‎, Transportation
Wyoming Files Suit Opposing BLM Rule on Flaring - Oil & Gas 360 flare

Oil Rises as Oversupply and Trade Tension Subsides

From Reuters

Oil prices rose about 1 percent on Tuesday as the market shifted focus to the possibility of increased Chinese demand, drawing attention away from trade tensions between that country and the United States after a series of tariffs …

Bohrturm, Österreich: Weißer Hof 2014

Oil Price Reached $74 This Week, But Double That Could Be on the Horizon

Despite the surprise moderate build in U.S. crude oil stockpiles, analysts are worried of an impending price spike to $150 or more. 

Prices Today

Crude oil stocks rose by 1,245 MBBL last week to 417,881 MBBL from 416,636 MBBL. This …

Saudi, Russia Reaffirm Deal that will Generate Million-Barrel Oil Boost

Saudi, Russia Reaffirm Deal that will Generate Million-Barrel Oil Boost

From The Houston Chronicle

Saudi Arabia and Russia reaffirmed an agreement between OPEC and its allies, which they say will mean increasing oil production by 1 million barrels a day.

Their joint announcement came days after U.S. President Donald Trump …

Saudis’ Biggest Oil Surge in 5 Years Barely Steadies OPEC

Saudis’ Biggest Oil Surge in 5 Years Barely Steadies OPEC

From Bloomberg

Under U.S. pressure, kingdom boosts production by 330,000 b/d

Libyan, Venezuelan losses mean total OPEC output holds steady. Saudi Arabia’s biggest oil-production surge in five years was only enough to keep OPEC’s output steady last month, as losses …

Saudi Aramco Signs JV with NOV Pushing Creation of Energy Services Sector

Saudi Aramco Signs JV with NOV Pushing Creation of Energy Services Sector

Saudi Aramco and National Oilwell Varco, Inc. (NYSE: NOV) have signed a shareholder agreement to form a joint venture partnership. The JV is to establish an integrated world-class on-shore rig and equipment manufacturing and aftermarket facility in Ras Al-Khair, Saudi …

President Trump Wants Saudis to Balance the Drop in Iran’s Oil Supply

President Trump Wants Saudis to Balance the Drop in Iran’s Oil Supply

From Reuters

President Donald Trump lashed out at OPEC with a warning to stop manipulating oil markets and piled pressure on U.S. ally Saudi Arabia to raise supplies to compensate for lower exports from Iran.

Trump said in a tweet …

Present Day Middle Eastern Game of Thrones – Part Two

Present Day Middle Eastern Game of Thrones – Part Two

[EDITOR’S NOTE: this is the final installment of the OAG360 story in which Helen El Mallakh, director of the International Research Center for Energy and Economic Development (ICEED), discusses the changing political scene and the shifting geopolitical sands that are …

Present Day Middle Eastern Game of Thrones – Part One

Present Day Middle Eastern Game of Thrones – Part One

“The Middle East shapes energy politics, energy crises, and it has a huge impact on geopolitics” – Helen El Mallakh

Ahead of the upcoming 174th OPEC meeting in Vienna, Austria, (scheduled for Friday, June 22, and immediately followed by …

Russia, Saudi Push for Hike in Oil Output Ahead of OPEC Meeting

Russia, Saudi Push for Hike in Oil Output Ahead of OPEC Meeting

From Reuters

Russia and Saudi Arabia are pushing OPEC and its allies to raise oil output steeply from July to meet growing demand and cover supply outages in Venezuela and Libya despite opposition from several members of the producer group …

To prevent $100 Oil Spike over Iran Sanctions, Saudi Arabia and Russia Might Have To Step In

To prevent $100 Oil Spike over Iran Sanctions, Saudi Arabia and Russia Might Have To Step In

From CNBC

Oil prices are continuing to hover around 2014 highs, with market watchers waiting to see what happens when U.S. sanctions are re-imposed on Iran.

It remains to be seen whether major oil producers like Saudi Arabia and Russia …

May 16, 2018 - 10:41 am Closing Bell Story‎, Commodity Pricing, Energy News, OPEC
Saudi Arabian Companies Plan Massive Houston-Area Investments

Saudi Arabian Companies Plan Massive Houston-Area Investments

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 …

April 9, 2018 - 11:46 am Closing Bell Story‎, Energy News
Oil Dips but Tensions Over Iran, Saudi Nukes Support Crude Price

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

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.…

March 19, 2018 - 1:57 pm Closing Bell Story‎, Energy News
Muhammad bin Salman, Deputy Crown Prince of Saudi Arabia
Photo Credit: The Economist

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

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 …

March 19, 2018 - 9:52 am Closing Bell Story‎, Energy News
Permian Seen Second to Saudis for Spare Oil-Output Capacity

Permian Seen Second to Saudis for Spare Oil-Output Capacity

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 …

February 5, 2018 - 12:16 pm Closing Bell Story‎, Commodity Pricing, Energy News, OPEC
OPEC’s Cheer Over 2018 Oil Rally Tinged by Shale Worries

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

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 …

January 10, 2018 - 3:23 pm Closing Bell Story‎, OPEC
Saudi Arabia 2018 Budget Shifts Away From Oil Revenues

Saudi Arabia 2018 Budget Shifts Away From Oil Revenues

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 …

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

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

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 …

December 21, 2017 - 9:52 am Closing Bell Story‎, Energy News
Saudi Arabia Now Targeting U.S. Data to Boost Prices

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

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 …

Saudi Arabia Cutting Exports to Asia by 300 MBOPD

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 …

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

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

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 …

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

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

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 …

Saudi Aramco Eyeing Billions in Investments ahead of IPO

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 …

Saudis Expect 6-Mo. Limit on Production Cuts

“It’s unlikely that we will need to continue [production cuts past June.]” – Khalid al-Falih

OPEC may not continue oil production cuts after the middle of the year, according to estimations from Saudi Minister of Energy and Industry Khalid al-Falih. …

Oil & Gas 360’s Complete OPEC Coverage

Oil & Gas 360’s Complete OPEC Coverage

OPEC Agrees to a 1.2 MMBOPD Cut

“We have made great success today” –  OPEC announces first cut since 2008

“We have made great success today. We reviewed all scenarios… [and] we have been able to reach an agreement,” Qatar …

December 2, 2016 - 4:17 pm Closing Bell Story‎