Category: Saudi Aramco

OPEC+ members will undergo an annual assessment of their oil production capacity starting next year for use in 2027, OPEC+ sources said, to ensure that the group sets output quotas that are more closely aligned with each country’s real capacity. …

The decision by Saudi Aramco to cut the price of its crude oil for Asian refiners for December cargoes has been viewed as a move to build market share amid concerns of looming global oversupply. But the reduction was at the lower end of forecasts by As…

By Andrew Mills Deputy Bureau Chief, Gulf I’m writing Gulf Currents this week from an aircraft 20,000 feet above the Saudi desert, because, like most Reuters’ Gulf correspondents in recent weeks, I too am crisscrossing the Arabian Peninsula to break ne…

About 50 years ago, a time span which is somewhere between “ancient history” and “I remember when”, depending where you are on the Gen Z <-> Boomer continuum, accountants plied their trade in a way that would blow most young minds of today. Tra…

Jafurah Midstream Gas Company secures significant foreign direct investment, together with agreement to lease and leaseback development and usage rights for Aramco’s Jafurah midstream assets  Aramco to receive upfront proceeds of $11 billion on c…

OPEC+’s recent decision to fully unwind 2.2 million barrels per day of crude oil output cuts has largely been viewed as a sign the exporter group is pivoting from trying to bolster prices to rebuilding market share. The recent decision, however, …

The West’s energy watchdog said on Friday it was ready to release oil stocks should the market experience shortages following Israel’s attack on Iran, drawing criticism from rival OPEC which said the statement would only create fear in the …

(The opinions expressed here are those of the author, a columnist for Reuters.) *Israel strikes Iran, Iran retaliates *Tehran could opt to target Strait of Hormuz, a chokepoint for oil shipping *Saudi Arabia, UAE, have sought to bypass Hormuz with pipe…

Saudi Arabia is expected to issue $12.6 billion in bonds for the remainder of the year, JPMorgan said on Tuesday, as the kingdom resorts to the debt markets amid huge investments to overhaul its economy and lower oil prices. The Gulf country, which for…

Saudi oil giant Aramco is seeking investors in infrastructure, including pipelines, for its $100 billion Jafurah gas project, two people familiar with the matter told Reuters. The Jafurah project is key to Saudi Aramco’s ambitions to become a maj…

Saudi Arabia, the world’s top oil exporter, increased its prices for Asian buyers despite crude prices falling on Monday after producer group OPEC+ over the weekend agreed another accelerated boost to output. State oil company Saudi Aramco raised…

Saudi oil giant Aramco signed a joint development agreement with Chinese electric vehicle (EV) manufacturer BYD to explore collaboration in the development of new energy vehicle technologies, Aramco said on Monday. The agreement, signed by Aramco unit …