All publications by tag «SAUDI»
REUTERS - State oil company Saudi Aramco last week raised prices for all crude oil grades to Asia in January.
REUTERS - The outcome represents a successful compromise between de facto OPEC leader Saudi Arabia (which wanted to announce an extension throughout 2018) and non-OPEC heavyweight Russia (which wanted to avoid giving such a long commitment).
PLATTS - Saudi Arabia reasserted its leadership of the oil market Thursday after brokering its desired extension of output cuts with OPEC and non-OPEC partners through to the end of 2018. The deal -- agreed after nearly nine hours of negotiations in Vienna -- kept its new ally Russia onside and prevented a sell-off that many analysts had feared.
BLOOMBERG - As Saudi Arabia led OPEC’s output cuts this year to shrink a global glut, it’s lost out on market share in the world’s biggest energy consumer. Russia in September retained the top Chinese supplier spot for the seventh straight month, while the kingdom was third.
Saudi Aramco signed agreements with several oil and gas service contractors for oil and gas megaprojects designed to enhance the company’s energy sustainability, diversify the economy, expand gas production, and localize domestic content. The agreements are valued at nearly $4.5 billion in total.
Indonesia plans to increase LPG imports from Saudi Arabia and the UAE in a bid to meet rising domestic demand, Energy and Mines Ministry spokesman Dadan Kusdiana said
IMF - Saudi Arabia had made good progress in initiating its ambitious reform agenda. Fiscal consolidation efforts are beginning to bear fruit. Progress with reforms to improve the business environment are gaining momentum, and a framework to increase the transparency and accountability of government is in place. Effective prioritization, sequencing, and coordination of the reforms is essential, and they need to be well-communicated and equitable to gain social buy-in to ensure their success.
Reuters - Saudi Basic Industries Corp (SABIC), the world’s fourth-biggest petrochemicals company, reported a 10.7 percent rise in third-quarter net profit on Sunday, beating analysts’ estimates.
Oil closed at its highest in more than two years in London, nearing $60 a barrel, as Saudi Crown Prince Mohammed bin Salman backed the extension of OPEC output cuts.
Compliance among OPEC and major non-OPEC producers reached 120% in September, its highest level since the output constraint deal was launched in January, the Joint Ministerial Monitoring Committee said.