The two companies received the world’s first TÜV certificate, marking a “major milestone” in the development
largest oil exporter
Latest in largest oil exporter
Arab Light Crude
Saudi Aramco lowers oil prices for first time in four months amid uncertainty around Russian supplies
Aramco’s decision comes days after OPEC+, led by Saudi Arabia and Russia, agreed to continue increasing crude output only gradually, adding 432,000 barrels a day to the market in June
crude oil price
Goldman Sachs lifts Saudi Arabia’s growth forecasts as oil prices rise
US bank sees the economy of the world’s largest crude exporter expanding a further 7 percent in 2022, compared to a 5.7 percent forecast previously
Aramco revenue
Video: The worst is over for Aramco even if oil prices stay at $45 per barrel, says analyst
Amena Bakr of Energy Intelligence Group says Aramco’s balance sheet shows its free cash flow is still positive and the company has room for taking on debt to fulfill dividend obligations.
Amin Nasser
Video: Saudi Aramco sticks with dividend even as profit slumps
Saudi Aramco is pressing ahead with a planned $75 billion in dividends this year, despite the slide in profits and rising debt as the kingdom battles a widening budget deficit.
Aramco IPO
New Saudi Aramco chief working on Saudi Aramco listing plan
Appointment of former PIF governor comes ahead of IPO in 2020-21
Bandar al-Khorayef
Saudis sharpen oil policy focus with energy ministry reshuffle
The ministry reshuffle won’t change Saudi oil policy as the kingdom remains focused on curtailing production to balance crude markets and prop up prices
Fuel trading
Saudi Aramco starts fuel trading from UAE with ex-BP, Pemex hires
Aramco’s trading unit started doing deals earlier this month at its new office in Fujairah
Global oil demand
Saudis set to meet all requests for oil purchases from ex-Iran oil buyers
Saudi oil production for June is expected to remain below the kingdom’s ceiling under an agreement between OPEC and its allies limiting output until the end of next month
Crude exporter
Obscure UN pollution rule may cost Saudis billions
Revenues could drop by as much as $5 a barrel starting in the second half as refiners and shippers prepare for the change
largest oil exporter
Middle East looking toward shale oil in the future, says UAE Energy Minister
UAE Energy Minister Suhail Al Mazrouei says that oil-producing countries in the region should work with shale producers as partners
Amin Nasser
Saudi Aramco eyes LNG deals in next year in new global gas strategy
The gas shift comes as Aramco also invests heavily in oil refining and petrochemicals, in an effort to secure long-term outlets for its crude production
crude output
Saudi needs oil at $80-$85 a barrel to balance budget, says IMF
The UAE’s energy minister said supply and demand should balance out in the first quarter of 2019
crude production
Saudis pledge deeper oil cuts in February under OPEC+ deal
Saudi Arabia and like-minded countries are determined to drive inventories below the five-year historical average
Aramco IPO
Saudi Aramco’s $1.6bn Hyundai stake deepens refiner ties in Asia
Saudi Arabia was South Korea’s biggest crude supplier last year, with its nearly 876,000 barrels a day of shipments accounting for about 29 percent of total imports
Abu Dhabi
Saudi says transition to renewable energy should be gradual
Saudi Energy Minister Khalid al-Falih proposed a strategy of gradually improving the quality of fossil fuels to reduce greenhouse gas emissions
Banking & Finance
Video: Saudi’s 2019 budget prediction
Top oil exporter Saudi Arabia is on course to post a higher deficit and lower economic growth than budgeted, due to a renewed fall in oil prices, economic experts said.