Continuing its push to make sure that its oil continues to reach its intended destination, Saudi Arabia announced on July 17 an ambitious plan that’s intent on making sure that the Kingdom has the world’s largest oil fleet. Putting together an investment fund that will total $1.5 billion, the proposed project will result in the…
A fraction refers to a portion of a thing and distillation means separation. Through the process of fractional distillation, crude oil is separated into its fractions. In its raw form, crude oil is a viscous, sticky and dark liquid, which is not of much use. To extract real value from crude oil, we have to…
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…
A fraction refers to a portion of a thing and distillation means separation. Through the process of fractional distillation, crude oil is separated into its fractions. In its raw form, crude oil is a viscous, sticky and dark liquid, which is not of much use. To extract real value from crude oil, we have to…
Petroleum is a mixture of several hydrocarbons and chemicals. The composition will vary depending on where the petroleum was found. In fact, you can find out where a certain sample of petroleum came from through chemical analysis. However, there are some characteristic properties that are common to all varieties of petroleum. Common hydrocarbons Four kinds…
The extraction of shale oil (also known as tight oil) is an unconventional process of obtaining synthetic oil and gas. Oil shale is a type of sedimentary rock which is rich in organic content (bituminous stuff called kerogen). The organic content has to be treated to extract shale oil. The oil shale (rock containing the…
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…
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….
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…
