Saudi Arabia currently holds spare capacity of 3 million barrels per day, a source with direct knowledge of the matter said, equal to about 2.9% of daily world demand according...... continue reading
The cancellation, only months before the first of a series of oil field expansions was due to come on stream, was at the behest of the Saudi...... continue reading
Saudi Arabia's surprise reversal of its oil expansion plan was at least six months in the making and spurred by uncertainty over the market's need for additional spare capacity, an...... continue reading
“At the start of 2024, the risk of global oil supply disruptions from the Middle East conflict remains elevated, particularly for oil flows via the Red Sea and, crucially, the...... continue reading
The surprise move comes after the world’s biggest oil exporter had said in November that it was progressing “very well” with a multibillion-dollar project to boost capacity to 13 million...... continue reading
Saudi Arabia's government on Tuesday ordered state oil company Saudi Aramco (2222.SE), opens new tab to halt its oil expansion plan and to target a maximum sustained production capacity of...... continue reading
Saudi Arabia’s state-controlled Aramco on Tuesday announced it is pausing plans to raise its crude production capacity from 12 million barrels per day to 13 million barrels per day. In a...... continue reading
The allegations concern events prior to his AlUla appointment in 2017. He is accused of having benefited from contracts given by the King Abdullah City for Atomic and Renewable Energy,...... continue reading
“We’re moving in the Red Sea with our oil and products cargoes,” Mohammed Al Qahtani, who heads Aramco’s refining and oil trading and marketing businesses, said in an interview at...... continue reading
Researchers at King Abdulaziz University recently conducted a techno-economic analysis for utility-scale wind and solar plants in Saudi Arabia. They found that current tariffs make...... continue reading