All publications by tag «SAUDI»
SAUDI ARAMCO - 2017 highlights: Produced an average of 10.2 million barrels per day of crude oil including condensate Increased amount of natural gas supplied for fourth straight year, to an average of 8.7 billion standard cubic feet per day Crude oil exports averaged 6.9 million barrels per day
BLOOMBERG - Saudi Aramco, as the state-owned company is known, cut pricing for September shipments of all grades to Asia, its largest market. Aramco set the premium for Arab Light crude to Asia at $1.20 a barrel above the Middle East benchmark, it said Thursday in an emailed price list. The reduction of 70 cents for Arab Light was the second consecutive monthly cut for the grade and was 10 cents deeper than the median estimate of five traders in a Bloomberg survey.
WNN - "The vision of Saudi Arabia 2030 considers nuclear energy as an important source to support stability and sustainable growth," Al Sultan said. "Deployment of nuclear energy aims for peaceful purposes, in a safe, secure and sustainable manner consistent with highest standards and best practices. The Kingdom of Saudi Arabia has requested the INIR mission to support this goal. It was a valuable tool to pinpoint areas of improvement and ensure that the required infrastructures are in place before signing the contract for building the first nuclear power plant in the Kingdom of Saudi Arabia."
IMF - Real GDP growth is expected to increase to 1.9 percent in 2018, with non-oil growth strengthening to 2.3 percent. Growth is expected to pick-up further over the medium-term as the reforms take hold and oil output increases. Risks are balanced in the near-term. The employment of Saudi nationals has increased, especially for women, but the unemployment rate among Saudi nationals rose to 12.8 percent in 2017.
PLATTS - "The shift from reporting individual country conformity to reporting overall conformity will be adopted to reflect the June 23 decision of the 4th OPEC and non-OPEC Ministerial Meeting that countries will strive to adhere to the overall conformity level, voluntarily adjusted to 100%, as of July 2018," Saudi energy minister Khalid al-Falih wrote to his counterparts Thursday in a letter.
BLOOMBERG - Saudi Arabia and Russia reaffirmed an agreement between OPEC and its allies, which they say will mean increasing oil production by 1 million barrels a day.
PLATTS - "I think you're going to see a settling-down of the market -- people feeling comfortable that Saudi Arabia, Russia and the United States, we've got substantial production," Perry said, while acknowledging pipeline constraints in Texas that are holding back Permian Basin oil exports.
NOV - National Oilwell Varco, Inc. (NYSE: NOV) today announced the signing of an agreement with Saudi Aramco to form a joint venture in the Kingdom of Saudi Arabia. Through its state-of-the-art manufacturing and fabrication facilities in the Kingdom and NOV’s market-leading drilling technologies, the joint venture will provide high-specification land rigs, rig and drilling equipment and offer certain aftermarket services.
AOG - Sheikh Abdullah said: “This agreement strengthens the already close ties between the UAE and the Kingdom of Saudi Arabia and between the UAE and India. The UAE is unwavering in its commitment to its strategic multi-lateral relationships with both Saudi Arabia and India, as well as being a reliable partner in India’s energy security. We look forward to exploring further opportunities to expand our energy partnerships and to collaborating on new, broader, opportunities that will further strengthen and deepen the long-standing economic links between our three countries.”
BLOOMBERG - Russian Oil Minister Alexander Novak said in a speech yesterday that “we need to build upon our successful cooperation model and institutionalize its success through a broader and more permanent strategically focused framework.” His Saudi counterpart Khalid Al-Falih echoed those comments.