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2017-10-04 23:55:00

SAUDIS - RUSSIA RELATIONSHIPS

SAUDIS - RUSSIA RELATIONSHIPS

SAUDI ARAMCO - Saudi Aramco will participate in the historic Royal Visit to Russia by The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al-Saud from October 4 to 7, 2017.

The visit will reinforce the already strong relationship between Saudi Arabia and the Russian Federation, primarily driven by the fact it is creating the much desired synergy between two highly influential energy powers of the world.

Saudi Aramco will participate in a range of high-level engagements and activities including an exhibit throughout the three days which form the business component of the Royal Visit, alongside other key Saudi entities.

The highlight will be the "Saudi-Russian Business Investment Forum" to be held in Moscow under the theme: "Investment, Toward Building a Strong Partnership." The forum will be officially opened by Russia's Minister of Energy, H.E. Alexander Novak.

Jointly organized by the Saudi Arabian General Investment Authority (SAGIA), Council of Saudi Chambers, and the Russian Direct Investment Fund (RDIF), the forum will see Saudi Aramco President and CEO Amin H. Nasser participate in a panel discussion on "Bilateral Investments."

The forum will serve as a strategic platform for Saudi Aramco to promote its initiatives in supporting Saudi Vision 2030, and the industrial localization program In-Kingdom Total Value Add (iktva) which can potentially attract Russian market-leading companies to offer skills development and technological expertise.

"There are significant opportunities in a number of these areas for collaboration between Saudi Aramco and leading Russian companies. In particular, oil and gas services, petrochemicals, renewables, advanced materials and other advanced technologies, and cutting-edge basic and applied research are all promising areas for bilateral cooperation," Saudi Aramco CEO Amin Nasser said ahead of the visit.

Saudi Aramco is also expected to sign a number of Memoranda of Understandings with major Russian companies.

In 2016, Russian Energy Minister H.E. Novak visited Saudi Aramco when he visited the Kingdom and met with H.E. Khalid Al-Falih, Minister of Energy, Industry, and Mineral Resources and Chairman of Saudi Aramco when they discussed topics of mutual interest. In May this year, Igor Sechin, CEO led a delegation from Rosneft to Saudi Aramco to discuss a range of areas of potential collaboration including technology, sharing best practices, and other areas.

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Earlier:

RUSSIA: 

     

 SAUDIS:

 RUSSIAN OIL PRODUCTION: 10.91 MBD
October, 2, 14:50:00

RUSSIAN OIL PRODUCTION: 10.91 MBD

Russian oil output stood at 10.91 million barrels per day (bpd) in September, unchanged from August and staying at a low for the year

     SAUDIS - RUSSIA OIL DEAL
August, 31, 12:25:00

SAUDIS - RUSSIA OIL DEAL

Top oil producers Saudi Arabia and Russia are pushing to extend their deal to limit crude oil production for another three months, which would leave the output deal between OPEC and non-OPEC producers in place through the end of June, people familiar with the matter said.

 

 RUSSIA IS THE TOP
July, 24, 13:45:00

RUSSIA IS THE TOP

Russia was China's biggest crude oil supplier for a fourth straight month in June, its longest streak ever in the top spot, data from the General Administration of Customs showed on Monday.

 

     SAUDI'S DEFICIT DOWN
August, 14, 14:20:00

SAUDI'S DEFICIT DOWN

Saudi Arabia's state budget deficit shrank by a fifth from a year earlier in the second quarter of this year as revenues rose moderately and spending fell marginally, finance ministry figures showed on Sunday.

 RUSSIA'S INVESTMENT POTENTIAL
July, 12, 14:15:00

RUSSIA'S INVESTMENT POTENTIAL

"Russia is among the leading energy countries today. We see colossal unrealized potential for cooperation, for investment -- we will continue working on implementing it with all the interested parties," Novak said.

 

     SAUDI'S GDP GROWTH: ZERO
July, 24, 13:40:00

SAUDI'S GDP GROWTH: ZERO

Non-oil growth is projected to pick up to 1.7 percent in 2017, but overall real GDP growth is expected to be close to zero as oil GDP declines in line with Saudi Arabia’s commitments under the OPEC+ agreement.

 RUSSIAN OIL PRODUCTION DOWN 0.6%
July, 10, 12:15:00

RUSSIAN OIL PRODUCTION DOWN 0.6%

The energy ministry is forecasting that crude production in Russia will fall by 0.6% year on year to 549.1 million mt, or 11.027 million b/d on average, in 2017 on the extension of the output cut deal.

 

     SAUDIS WILL CUT
July, 12, 14:00:00

SAUDIS WILL CUT

Saudi Arabia will cut crude oil shipments to its customers in August by more than 600,000 barrels per day to balance the rise in domestic consumption during the summer, while staying within its OPEC production commitment, a Saudi industry source said.

 OPEC & NON-OPEC AGREEMENT
May, 26, 14:15:00

OPEC & NON-OPEC AGREEMENT

OPEC Member Countries and non-OPEC parties, Azerbaijan, Kingdom of Bahrain, Brunei Darussalam, Kazakhstan, Malaysia, Mexico, Sultanate of Oman, the Russian Federation, Republic of Sudan, and the Republic of South Sudan, taking into account the decision reached by OPEC at the 172nd Meeting of the Conference, recognized the need for continuing cooperation among oil exporting countries in order to achieve a lasting stability in the oil market.

 

     SAUDIS OIL RESOURCES UP
June, 21, 11:05:00

SAUDIS OIL RESOURCES UP

Saudi Arabia effectively grew its recoverable oil resources by 73 billion barrels this year after lower tax rates for state producer Saudi Aramco boosted the country's estimated prospective resources.

 RUSSIAN OIL REDUCTION
May, 24, 19:35:00

RUSSIAN OIL REDUCTION

Russia itself is now slightly overcomplying with its commitment to cut 300,000 b/d of oil production from October levels, having achieved a 310,000 b/d cut since the beginning of the month.

 

     SAUDIS FINANCIAL PRESSURE
May, 22, 16:40:00

SAUDIS FINANCIAL PRESSURE

Saudi Arabia will go into the meeting of OPEC and non-OPEC producers in Vienna on May 25 determined to maximize its oil revenue through high prices, even if it must make large production cuts in return.

 RUSSIAN STRUCTURAL REFORMS
May, 22, 16:45:00

RUSSIAN STRUCTURAL REFORMS

IMF - advancing decisively on the structural reform agenda to improve growth potential and rebalance growth towards non-commodity sectors.

     SAUDI'S INVESTMENT STRATEGY
April, 17, 17:35:00

SAUDI'S INVESTMENT STRATEGY

“We are continuing to invest and strengthen our core oil and gas business across the value chain.”

 

 

Tags: SAUDI, RUSSIA
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