HOTTEST DAY NEWS

  • Saudi Aramco to welcome oil investors
    Industry

    Saudis Seem Poised to Welcome Oil Investors

    In the challenge to forge a new world in the oil business, Saudi Arabia finds itself seeking different avenues toward delivering revenue to the kingdom. However, they’re also fighting off other countries that are seeking to chip away a good portion of the lucrative market share that the Saudis have enjoyed for decades. One of…

  • Saudi Aramco IPO
    Industry

    Thinking Twice About a Saudi Aramco IPO

    For the past few years, the likelihood of Saudi Arabia offering minority shares in its largest company, Saudi Aramco, seemed to be a given. That’s because the dropping price of oil and the subsequent depletion of the country’s vast financial resources made it a more economically viable option to undertake. Those resources haven’t quite reached…

  • Saudi Arabia World leader Oil Fleets
    Industry

    Saudi Arabia Poised to Become the World’s Leader in Oil Fleets

    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…

  • New Pricing Strategy in Store for Saudi European Refiners
    Industry

    New Pricing Strategy in Store for Saudi’s European Refiners

    Change is in the air when it comes to pricing of Saudi Aramco’s oil for its refining customers in Europe after the Kingdom’s state-run firm announced changes on April 4 to its current setup. The official change will take place beginning in July, with the expectation being that it will be a customer-friendly option for…

  • Saudi Aramco ADNOC
    Industry

    Saudis and Abu Dhabi Focusing on Renewables Market

    The continuing business challenges that are part of the current oil landscape are serving as the impetus for Saudi Arabia and Abu Dhabi to find additional common ground when it comes to seeking out new areas of economic growth. That’s why the two nations’ state-run oil companies forged an agreement at the start of April…

  • Saudis Chinese agreement March 16 oil
    Industry

    Saudis and Chinese Get Closer Through Oil

    During the course of King Salman’s six-week tour of multiple Asian countries, the main focus was geared toward the sale of oil in different contexts. Drumming up interest in next year’s expected IPO of Saudi Aramco was one component, but traditional deals also weren’t left out. In that case, the Saudis and China came to…

  • 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…

  • Production cut OPEC agreement
    Industry

    Production Cut Agreement Remains on Shaky Ground

    The tenuous OPEC agreement to cut oil production over a six-month period, has always been fraught with concern that countries would violate the agreement in order to further their own self-interest. Saudi Arabia is definitely keeping tabs on any such violations, offering a veiled threat of increasing their own production if they continue to detect…

  • 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…