Saudi Arabia may lower the official price of its heavy oil grade sold to Asia from a six-year high as processing profit for fuel used by ships and power plants dipped in the previous month. For full story, click here
Saudi Arabia may lower the official price of its heavy oil grade sold to Asia from a six-year high as processing profit for fuel used by ships and power plants dipped in the previous month. For full story, click here
U.S. oil major Chevron may deploy a technique to boost oilfield output across the neutral zone between Kuwait and Saudi Arabia in 2017. For full story, click here
When Saudi Aramco summoned its main international contractors to a meeting at its Al-Khobar headquarters in the first week of March, the assembled executives could be forgiven a sense of trepidation. With oil prices barely one-third of their mid-2008 peak of nearly $150 a barrel, the news from the world’s leading oil producer was unlikely [...]
Kuwait Gulf Oil Co. has planned to invest around $11 billion in the next 20 years to boost oil output capacity to 900,000 barrels per day from a divided zone it shares with Saudi Arabia. For full story, click here
Saudi Arabia reported that it could soon move ahead with plans to develop its heavy oil resources, helping to dispel fears that less investment could trigger a future crude supply crisis. For full story, click here
Reports reveal that Nexen Inc. and Opti Canada Inc. may be among Canadian oil companies targeted for takeovers as a price collapse triggers a rush by larger producers to amass holdings in the biggest crude deposits outside Saudi Arabia. Will Lee, an analyst at CIBC World Markets Inc. in Calgary, stated: Opti won’t be around [...]
Saudi Aramco, the world’s leading state-owned oil company, cut its official selling prices for all grades for customers in the U.S., Northwestern and Mediterranean Europe. For full story, click here
Saudi Arabia is reported to likely to put an end to four months of surging differentials for its heavy crudes and cut their official selling prices for May after the fuel oil crack weakened. For full story, click here
Saudi Arabia is reported to have warned of the risks that could result from energy supply shortages unless large amounts of investment are directed to the sector. For full story, click here
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