HOTTEST DAY NEWS

  • saudis-tighten-the-spigot
    Industry

    Saudis Starting to Tighten the Spigot

    After finally agreeing to cut oil production after two-plus years of decline, Saudi Arabia has indicated that refining customers in both North America and Europe will receive lower shipments starting in January. The reason for those specific targets is because of lower margins, particularly in the United States. Asian customers won’t be affected, with eight…

  • Saudi Aramco Boosts Prices March Crude
    Industry

    Saudi Aramco Boosts Prices on March Crude

    As Saudi Arabia continues to navigate its way in the new reality of the oil business, its recent steps to finally cut back production in order to stimulate price will have an additional component attached for the immediate future. That revenue-enhancing decision on February 2 by the Kingdom’s state-run company, Saudi Aramco, was that the…

  • saudi cabinet
    History

    Changes in Saudi cabinet: towards a much stronger Saudi Arabia

    The recent news of the Saudi oil minister’s removal, after a 20-year mandate is being interpreted by many analysts as the kingdom gearing up for major change and a power-play on world oil markets. “You’re going to see a much more robust Saudi Arabia going forward. There’s no question about it,” told one such observer…

  • 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…