Putin's interest in Israeli gas is neither secret nor new. In 2012 Russia's Gazprom discussed the possible purchase of a 30% stake in Israel's offshore Leviathan gas field. In 2013 Gazprom signed a contract to purchase much of the Tamar gas field's production but the contract wasn’t approved by Israel's Energy Ministry.
Top oil exporter Saudi Arabia plans to generate 9.5 gigawatts of electricity from renewable energy by 2030, it said in Vision 2030 reform plan.
The world's top crude oil exporter asked banks for a loan worth between $6 billion and $8 billion that would run for five years, sources told Reuters last month, as the kingdom seeks to plug a record budget deficit caused by low oil prices.
The two countries also signed agreements to develop a 2250 Megawatt electricity plant with a cost of $2.2 billion, set up agriculture complexes in Sinai and develop a canal to transfer water, a statement from the Presidency said.
Saudi Arabia is the largest supplier of crude oil to India, where oil demand grew by 5.7% last year and is expected by the International Energy Agency to increase 6.3% this year.
State-run Saudi Arabian Oil Co. increased its official selling price for May Light, Medium and Heavy sales to U.S. buyers by 40 cents a barrel, the company said in an e-mailed statement Tuesday. Extra Light crude will sell at a premium of $2.60 a barrel to the regional benchmark, 75 cents higher than the differential in April. For the U.S., the benchmark is the Argus Sour Crude Index.
OPEC secondary sources put Iran's current output at 2.93 million barrels per day (bpd). It is working to regain market share, particularly in Europe, after the lifting of international sanctions in January. The sanctions had cut crude exports from a peak of 2.5 million bpd before 2011 to just over 1 million bpd in recent years.
The sale of Aramco, or Saudi Arabian Oil Co., is planned for 2018 or even a year earlier, according to the prince. The fund will then play a major role in the economy, investing at home and abroad. It would be big enough to buy Apple Inc., Google parent Alphabet Inc., Microsoft Corp. and Berkshire Hathaway Inc. -- the world’s four largest publicly traded companies.
Production at Khafji was halted in October 2014 because of environmental concerns. The 300,000-b/d field lies in the Saudi-Kuwaiti neutral zone. Kuwait Gulf Oil Co. and Saudi Aramco Gulf Operations Co. jointly operate it. Neither company commented on restart reports.
The framework agreement includes opportunities for joint investment in future oil and gas exploration, and possible oil and gas trading deals, including LNG.
The world’s biggest oil exporter lost ground to rivals in nine out of 15 top markets between 2013 and 2015, including China, South Africa and the US, according to an analysis of customs data.
The world’s biggest oil exporter, known as Saudi Aramco, won’t cancel any oil, gas or refining projects, Amin Nasser told reporters during a conference in Al-Ahsa in eastern Saudi Arabia. Aramco is also studying a possible expansion of the country’s largest oil refinery, Ras Tanura, which has a capacity of 550,000 barrels a day, he said Wednesday.
Critics said the deal gave too much profit to corporations at the public's expense. The court opposed a clause that would prevent Israel from making significant regulatory changes for the next ten years.
China's total oil imports rose about 20 percent on year to the highest ever on a daily basis in February, when near 10-year low global oil prices drove buying from a group of new importers and for state and commercial stockpiling.
Israel and Russia are about to agree upon a modus operandi in the East Mediterranean concerning weapons and natural gas deals, several Israeli media reports indicate. According to various assessments, the bottom line of such an agreement would be that Israel will not sell natural gas to Turkey and, in return, Russia won't supply S-300 anti-aircraft missiles and other advanced weapon systems to Iran and other regional enemies of Israel.