President Biden faced increasing pressure on Monday to ban imports of oil from Russia following its invasion of Ukraine and the deepening turmoil in eastern Europe. The U.S. president is reportedly considering such a move but carefully weighing it against the likely impact it would have on global crude prices and, by extension, the cost…
Tag / Saudi Arabia
SubscribeSaudi Arabia
Articles from Saudi Arabia
To Ease Supply Pressures, OPEC-Plus Targets Further Crude Production Increase
Citing robust demand and fading pandemic worries, an alliance of major oil producing countries agreed on Wednesday to extend production increases into March. Policymakers from the Organization of the Petroleum Exporting Countries (OPEC), headed by Saudi Arabia, and a Russia-led group of allies known as OPEC-plus, said they aim to boost output by 400,000 b/d…
Aramco’s Jafurah Natural Gas Field Set to Produce 2.2 Bcf/d by 2030
Saudi Arabia, the world’s largest oil producer, has ramped up development at the natural gas-rich Jafurah field in the Eastern Province, considered the largest unconventional field of its kind in the Kingdom. State-owned Saudi Arabian Oil Co., aka Aramco, secured regulatory approval in early 2020 to develop the mega field, which holds an estimated 200…
With Demand Rebounding, OPEC-Plus Reaches Deal to Lift Crude Production Through 2021, into 2022
The Organization of the Petroleum Exporting Countries and its allied group of leading oil producers headed by Russia, aka OPEC-plus, on Sunday reached a deal to further boost production through the end of the year and into 2022. The member countries, led by Saudi Arabia, committed to bringing back all the crude supply they had…
Aramco Raises $12B-Plus in Oil Pipeline Deal with EIG-Led Consortium
Saudi Arabia Oil Co., better known as Aramco, has struck a $12.4 billion transaction to sell a minority stake in its oil pipeline operations to a consortium led by U.S.-based EIG Global Energy Partners. The global investment group agreed to take 49% equity interest in newly created Aramco Oil Pipelines Co. Aramco today operates more…
Aramco Looking to Skip LNG Exports, Focus on Blue Hydrogen Transport
Saudi Arabia’s state-owned oil company is looking to expand its natural gas business by skipping over the traditional export route and going for a growing market in blue hydrogen, executives said Monday. Saudi Arabia Oil Co., better known as Aramco, is the largest oil exporter in the world. It also has a plethora of natural…
Saudi Arabia May Reverse Course, Respond to Rise in Oil Prices with Increased Production
Saudi Arabia, which leads the Organization of the Petroleum Exporting Countries (OPEC), may quickly ramp up production this spring, following the recent momentum in oil prices and its own expectations for increased demand in the second half of 2021. It would mark a stark shift from its current stance. OPEC and its allies, aka OPEC-plus,…
Saudi Oilfield Attack Tests Mettle of U.S. Energy Independence
The recent attack on key oil infrastructure in Saudi Arabia demonstrated the muscle of North American oil and natural gas production, but it again tested the notion of energy independence and enduring exposure to global energy markets.
U.S. Energy Sector Impacts Seen Varying in Aftermath of Saudi Oilfield Attack
How attacks on key oil facilities over the weekend in Saudia Arabia impact the U.S. energy sector will be proven in the coming weeks and depend heavily on how long the supply outage lasts, experts said on Monday.
NGI The Weekly Gas Market Report
Saudi Arabia Renewing Interest in Russian LNG Sector
Saudi Arabia, which is taking stakes in several Lower 48 export projets, is said to be eyeing plans to become a major player in Russia’s liquefied natural gas (LNG) sector.