HOTTEST DAY NEWS

  • Saudis production cuts
    Industry

    Saudis Focusing Hard When It Comes to Production Cuts

    When the agreement by OPEC nations to reduce production to stimulate what’s been a stagnant price for a barrel of oil was first announced, the expectation was that the agreement wouldn’t last. The reason was that the particular interests of certain countries would take precedence over such allegiances, thereby rendering the pact worthless. That may…

  • Saudi Arabia Egypt
    History

    The Tightening Bond Between Saudi Arabia and Egypt

    The new economic bond between Saudi Arabia and Egypt in which petroleum is a key aspect marks a sharp contrast to the previous rivalry between the two countries. Those conflicts over generations were most recently on display during the Arab Spring revolt in 2011 that toppled Egyptian leader Hosni Mubarak. However, the two countries have…

  • production costs saudi ace hole
    Industry

    Production Costs are a Saudi Ace in the Hole

    The continuing watch that comes with stagnant oil prices is usually fixated on Saudi Arabia, given its nearly half-century run of exploiting its geography that allowed trillions of dollars to find their way into government coffers. With no signs of any dramatic shift upward when it comes to oil prices, some alleged experts believe that…

  • saudi arabia equtorial guinea economic forum
    Industry

    Saudi Arabia and Equatorial Guinea Come Together

    During an economic forum in Jeddah, Saudi Arabia and the West African nation of Equatorial Guinea came to an agreement on May 11 that brings the two countries together on a variety of business projects. One of those is an agreement that will help finance what will be the region’s largest terminal for oil storage….

  • saudi arabia owns largest american oil refinery
    Industry

    Saudi Arabia Now Fully Owns Largest American Oil Refinery

    Though the impact of Saudi Arabia within the American oil market has been diminished over time, their ability to maintain a very clear presence once again came into focus on May 1. That was when Saudi Aramco, the Kingdom’s state-run oil company, finalized an agreement to take complete control of the largest oil refinery in…

  • Saudis Benefits Back
    Industry

    Saudis Get Some of Their Benefits Back

    While the price of oil is still stuck in neutral, some signs exist in Saudi Arabia that the Kingdom has weathered the worst of the storm and is ready to start taking incremental steps in the months ahead. The reason stems from a decision by the Saudi government on April 22 to bring back the…

  • vision 2030 plan saudi arabia UK
    Industry

    Saudis and Brits Coming Together on Vision 2030 Plan

    The relationship between Saudi Arabia and Great Britain has been a long one that’s been intertwined through both business and politics for the past century. In early April, British Prime Minister Theresa May began a tour of Middle Eastern countries, with one of her first stops in the Kingdom. The basis of that specific visit…

  • Saudis Russians Oil Production Cut Extension

    Saudis and Russians Come Together on Oil Production Cut Extension

    The three-year slide of oil prices has delivered a major hit to the financial stature of Saudi Arabia, primarily because of their status as the world’s top oil producer. While that title has seemingly fluctuated in the past year with Russia, the economic punch that those two nations provide has the ability to provide an…

  • saudi arabia equtorial guinea economic forum

    Saudi Arabia and Equatorial Guinea Come Together

    During an economic forum in Jeddah, Saudi Arabia and the West African nation of Equatorial Guinea came to an agreement on May 11 that brings the two countries together on a variety of business projects. One of those is an agreement that will help finance what will be the region’s largest terminal for oil storage….

  • saudi arabia owns largest american oil refinery

    Saudi Arabia Now Fully Owns Largest American Oil Refinery

    Though the impact of Saudi Arabia within the American oil market has been diminished over time, their ability to maintain a very clear presence once again came into focus on May 1. That was when Saudi Aramco, the Kingdom’s state-run oil company, finalized an agreement to take complete control of the largest oil refinery in…