All publications by tag «ARAB»
BLOOMBERG - The IMF bolstered its estimate for the oil price the kingdom needs to balance the national budget this year to $88 a barrel, 26 percent more than an assessment made in October.
REUTERS - Saudi Arabia has projected a budget deficit of 195 billion riyals ($52 billion) in 2018, or 7.3 percent of GDP, down from 230 billion riyals last year. It plans to balance the budget by 2023.
PLATTS - Japanese imports of crude oil from Saudi Arabia in March rose 3.4% month on month to an average of 1.29 million b/d, preliminary data from the Ministry of Economy, Trade and Industry released Friday showed.
BLOOMBERG - The Saudis see atomic energy as a way to ease their dependence on finite fossil fuels. But they are also driven by competition with their rival Iran, which has multiple nuclear facilities.
FT - Crude producers led by Saudi Arabia and Russia will aim to draft an agreement to formalise their partnership for oil market co-operation by the end of 2018, the UAE’s energy minister said.
AOG - Saudi Arabia's Energy Minister Khalid al-Falih has said that the recent talks with his Iraqi counterpart stressed the need to strengthen commitment to a OPEC-led agreement to reduce crude output.
PLATTS - "We understand that global demand for oil will continue to grow rapidly and this demand will need to be met, so we will likely need to work together, including on upstream technology and joint projects to meet this growing demand," Novak said.
PLATTS - Saudi Arabia's commitment to the OPEC-led production output cut deal was confirmed with reduced exports to key Asian outlets in 2017, but Japanese imports of Saudi crude jumped to the highest level in 35 years as the kingdom also maintained its flexibility to meet demand whenever there is a need. Japan's crude oil imports from Saudi Arabia rose 9.5% year on year to 1.295 million b/d in 2017, or 40.1% of total imports in the year, and the country's imports of Saudi crude in 2017 were the highest since 1982, according to the Ministry of Economy, Trade and Industry data.
WNA - Saudi Arabia plans to construct 16 nuclear power reactors over the next 20-25 years at a cost of more than $80 billion. It projects 17 GWe of nuclear capacity by 2040 to provide 15% of the power then, along with over 40 GWe of solar capacity. There are also plans for small reactors for deslination.
BLOOMBERG - Mexico, Chile and Peru offer strong potential for growth in renewable energy, and governments in the region are courting international investors to help diversify the electricity mix.