HOTTEST DAY NEWS

  • syrian-conflict-rift-saudis-egypt
    History

    Syrian Conflict Causes Rift Between Saudis and Egypt

    What had been a warming of relations between Saudi Arabia and Egypt has apparently frozen over after news of the Saudis suspending shipments of oil supplies to their Middle Eastern neighbor. Though no specific reason for the October 10 decision was publicly noted, diplomatic experts feel that the political machinations dealing with the ongoing civil…

  • saudi-oil-cut
    Industry

    Saudis Set for Oil Production Cut

    The difficulty in trying to keep all OPEC nations in line has never been more evident than during the past two years. That coincides with the steep drop in oil prices that show no real sign in moving upward anytime soon. For Saudi Arabia, that stagnancy has evolved from a defiant approach to one of…

  • saudi-arabia-oil-focus
    Industry

    Oil Still in Focus for Saudi Arabia

    Saudi Arabia has made no secret of the fact that they’re seeking to diversify its economy so that they’re better able to weather the oil slide that’s chopped revenues in half over the past two years. However, that strategy doesn’t mean that the Kingdom is abandoning its cornerstone industry over the next decade. That was…

  • saudi from space
    Trivia

    The Largest Oil Reserves in the World

    The world consumes more than 85 million barrels of oil every day and this oil comes from more than 4000 oil fields. Most of these oil fields are small and they don’t even produce 20,000 barrels per day. The really big oil fields that produce more than 100,000 barrels of oil per day are less…

  • crude-oil-price-drop
    Trivia

    The Price of Oil

    Oil pricing- how is it calculated? Crude oil comes in three grades- UAE Dubai Crude, North Sea Brent Crude and West Texas Intermediate. The entire oil industry uses these three grades as a benchmark. The oil from individual fields is compared with the three grades and priced accordingly. Oil production does not vary by season,…

  • Petroleum-Industry
    Trivia

    Little Known Facts about Crude Oil

    When petroleum engineers strike crude oil, they analyze it. There are two important qualities that are analyzed – the crude oil density, which determines whether the crude oil is classified as light or heavy and the sulfur content of the oil. Heavy oil is slow when it flows and its constituents are also heavier. Refining…

  • 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…