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Saudi Aramco considers $10B pipeline stake sale to raise cash

Saudi Aramco considers $10B pipeline stake sale to raise cash

Saudi Aramco, the world’s largest oil producer, is weighing the sale of a stake in its pipeline unit to raise money amid a slump in crude prices. The Saudi Arabian Oil Company announced its full-year 2019 financial results. The agreement marks the Company’s first global sponsorship of a major sporting event. Aramco Trading Limited (ATL)...

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Aramco slashes CAPEX as the oil-price war hits home

Aramco slashes CAPEX as the oil-price war hits home

Saudi Aramco is slashing planned spending this year in the first sign that plunging demand and the oil-price war the kingdom unleashed are hitting home. It reducing 2020 capital expenditure in response to current market conditions. Aramco Trading Limited (ATL) will expand ATC’s global portfolio as it seeks to become one of the top trading...

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Russia keeps door open for OPEC amid threats to raise output

Russia keeps door open for OPEC amid threats to raise output

Russia stepped up its price war with Saudi Arabia by warning it can raise oil production, while also saying further cooperation with OPEC is possible. U.S. shale producers on last Monday rushed to deepen spending cuts and reduce future production. Standard Chartered on Monday cut its 2020 and 2021 oil price forecast, saying the price...

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Aramco delays April oil pricing, as it waits for OPEC’s decision

Aramco delays April oil pricing, as it waits for OPEC’s decision

Saudi Aramco is delaying the release of its monthly crude-pricing announcement. Aramco Trading Limited (ATL) will expand ATC’s global portfolio as it seeks to become one of the top trading companies in the world. Saudi Aramco is sponsoring the first international Carbon capture, utilization, and storage conference. The exceptional step by the world’s biggest oil...

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Aramco’s trading CEO sees recovery after ‘big hit’ from China abates

Aramco’s trading CEO sees recovery after ‘big hit’ from China abates

Oil markets will begin to recover in the second quarter as the virus that has inflicted a “big hit” on Chinese demand abates. Company announces regulatory approval of the development of the Jafurah unconventional gas field. Prince Saud bin Naif bin Abdulaziz, Governor of Eastern Province, opened today the 5th iktva Forum. Saudi Aramco is...

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Oil price gains hold while Russia keeps OPEC+ waiting on output cut

Oil price gains hold while Russia keeps OPEC+ waiting on output cut

Oil advanced from a one-year low even as Russia kept OPEC+ waiting on a decision about whether to cut production in response to the coronavirus outbreak. Oil production in the US has continued to expand and now stands at a record level of 12.9 million barrels. All the leading producers are committed to the level....

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Oil snaps a five-day losing streak on possible OPEC+ cuts

Oil snaps a five-day losing streak on possible OPEC+ cuts

Oil reversed five days of losses as the potential for an OPEC+ production cut overshadowed an uptick in U.S. crude inventories. Oil headed for the biggest quarterly advance in seven years as falling US supply added to speculation the global surplus is easing. Iraq and Libya are the two countries most at risk of political...

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OPEC+ agrees to redistribute oil cuts under Saudi pressure

OPEC+ agrees to redistribute oil cuts under Saudi pressure

OPEC+ will adjust its output target and redistribute production cuts between its members under pressure from Saudi Arabia. China’s record imports of crude oil in November underscore both the challenges and risks facing OPEC. Brent rises 3% in wk;WTI up 7% in biggest weekly gain since June. It has long carried an outsized share of...

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Saudi Arabia says Iranian weapons were used to attack oil facilities

Saudi Arabia says Iranian weapons were used to attack oil facilities

Saudi Arabia said preliminary findings show Iranian weapons were used in the attack on one of its key oil installations. Saudi Arabia’s deputy permanent representative to the UN, Dr. Khaled Manzlawiy. The drone attack that took place in the early hours on last Saturday. It stopped short of directly blaming the Islamic Republic for the...

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Saudi supply disruption puts the 630-MMbbl U.S. oil reserve in play

Saudi supply disruption puts the 630-MMbbl U.S. oil reserve in play

The Trump dministration is standing by to deploy the nation’s emergency oil reserves. The volunteer medical team of the King Salman Humanitarian Aid and Relief Center (KSRelief) held pediatric. Saudi Arabia’s energy minister said drones that attacked Saudi Aramco installations had caused an interruption. The Kingdom’s Ministry of Culture took part in the sixth “Big...

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