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2017-04-17 17:35:00

SAUDI'S INVESTMENT STRATEGY

SAUDI'S INVESTMENT STRATEGY

SAUDI ARAMCO - Saudi Aramco's President and CEO, Amin Nasser, said the company's long-term strategy of continued investment in core oil and gas projects, downstream and chemicals is necessary to help meet future energy demand and enable the successful transition of the global economy as the market rebalances itself.

Saudi Aramco's President and CEO, Amin Nasser, said the company's long-term strategy of continued investment in core oil and gas projects, downstream and chemicals is necessary to help meet future energy demand and enable the successful transition of the global economy as the market rebalances itself.

Speaking at the 2017 Columbia University's School of International and Public Affairs (SIPA) Global Energy Summit, Nasser highlighted the importance of continued investment in the oil and gas industry, while cautioning against taking a short-term view of the energy market.

"While the short-term market points to a surplus of oil, the supplies required in the coming years are falling behind substantially and the investments we now see coming back are not going to be enough to get us there" Nasser commented.

Nasser said it would be imprudent to assume that major oil producers will simply make the massive investments needed to bridge all these gaps—particularly since most long-term projects continue to be on hold, even after the recent price recovery.

He said that the impending shortfall has a time lag, and its effect will be felt over a period of time whose duration is difficult to estimate.

"So in my view, the future market situation will be increasingly on firmer grounds, though volatility could continue until the rebalancing takes firmer hold and inventory withdrawals assume a more consistent trend," he added.

Consistent with the company's long-term view of energy investment and in line with Saudi Vision 2030 Nasser said, "We are continuing to invest and strengthen our core oil and gas business across the value chain."

Nasser said this strategy includes doubling gas production over the next ten years to 23 billion standard cubic feet a day, which would position the Kingdom as having the highest share of gas in utilities in the G-20 group of industrialized nations; enhancing the company's downstream business portfolio, which would increase global refining and marketing capacity to approximately 8-10 million bpd.

He also discussed the company's accelerated journey in expanding its downstream with a wide range of joint ventures, acquisitions and asset re-rationalization involving a combination of major players and technology specialists such as Petronas, Motiva, Lanxess and Converge (a technology of Novomer).

"Downstream, we are continuing to build a world-class business portfolio to better balance our upstream oil business. Accordingly, Saudi Aramco's global refining and marketing capacity will be increased to between 8 and 10 million barrels per day.

The Saudi Aramco CEO was part of a distinguished group of senior energy and climate sector leaders at Columbia's SIPA Global Energy Summit, which focused on key issues and questions at the intersection of energy policy, financial markets, the environment and geopolitics.

-----

Earlier: 

SAUDI SELL ARAMCO 

SAUDI'S OIL BALANCE 

SAUDI'S ENERGY INVESTMENT $124 BLN 

SAUDI BEGIN SALES: $2 BLN 

CHINA'S INVESTNENT TO SAUDI

 

 

Tags: SAUDI, ARAMCO, INVESTMENT
SAUDI'S INVESTMENT STRATEGY September, 20, 09:05:00

OIL PRICE: ABOVE $55 YET

SAUDI'S INVESTMENT STRATEGY September, 20, 09:00:00

GAS PRICES UP TO $3.146

SAUDI'S INVESTMENT STRATEGY September, 20, 08:55:00

ЦЕНА URALS: $51,81591

SAUDI'S INVESTMENT STRATEGY September, 20, 08:50:00

U.S. OIL + 79 TBD, GAS + 788 MCFD

SAUDI'S INVESTMENT STRATEGY September, 20, 08:45:00

RENEWABLE'S FUTURE

SAUDI'S INVESTMENT STRATEGY September, 20, 08:40:00

TOTAL BUYS RENEWABLE

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Chronicle:

SAUDI'S INVESTMENT STRATEGY
September, 20, 08:35:00

BP - AZERBAIJAN OIL DEAL

BP and its partners in Azerbaijan's giant ACG oil production complex agreed Thursday to extend the production sharing contract by 25 years to 2049 and to increase the stake of state-owned SOCAR, reducing the size of their own shares.

SAUDI'S INVESTMENT STRATEGY
September, 20, 08:30:00

U.S. DEFICIT UP TO $123.1 BLN

The U.S. current-account deficit increased to $123.1 billion (preliminary) in the second quarter of 2017 from $113.5 billion (revised) in the first quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit increased to 2.6 percent of current-dollar gross domestic product (GDP) from 2.4 percent in the first quarter.

SAUDI'S INVESTMENT STRATEGY
September, 18, 12:35:00

OIL PRICE: ABOVE $55

U.S. West Texas Intermediate (WTI) crude futures CLc1 were trading up 41 cents, or 0.8 percent, at $50.30 by 0852 GMT, near the three-month high of $50.50 it reached last Thursday. Brent crude futures LCOc1, the benchmark for oil prices outside the United States, were at $55.91 a barrel, up 29 cents, and also not far from the near five-month high of $55.99 touched on Thursday.

SAUDI'S INVESTMENT STRATEGY
September, 18, 12:30:00

RUSSIA - CHINA - VENEZUELA OIL

“The principal risk regarding Russian and Chinese activities in Venezuela in the near term is that they will exploit the unfolding crisis, including the effect of US sanctions, to deepen their control over Venezuela’s resources, and their [financial] leverage over the country as an anti-US political and military partner,” observed R. Evan Ellis, a senior associate in the Center for Strategic and International Studies’ Americas Program.

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