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Critical Commercial and Economic Ties: Interview with Jose Fernandez
- April 3,2012
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- SUSTG Team
The 2nd US-Saudi Business Opportunities Forum in Atlanta in December brought together a high level delegation of over 200 Saudi officials and business people with over 1000 Americans to explore the $1 trillion-plus commercial openings available in the coming decade in the Kingdom. The response to the Forum – and what it means for American investment and […]
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Saudi to maintain oil supply if U.S. draws stocks
- April 3,2012
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- SUSTG Team
Saudi Arabia is likely to maintain high oil production in the event consumer countries release emergency stocks, but it will not seek to lure buyers for more oil by discounting its crude, industry sources said. U.S. Secretary of State Hillary Clinton on Saturday in Riyadh sought an assurance from Saudi King Abdullah that the kingdom […]
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U.S. Might Have More Oil Than Saudi Arabia, But…
- March 30,2012
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- SUSTG Team
People are often confused about the overall extent of U.S. oil reserves. Some claim that the U.S. has hundreds of billions or even trillions of barrels of oil waiting to be produced if bureaucrats will simply stop blocking development. In fact, in a recent debate between Republican candidates contending for Gabrielle Giffords’ recently vacated House seat, one candidate […]
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Saudi Arabia will act to lower soaring oil prices
- March 29,2012
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- SUSTG Team
In an op-ed in the Financial Times, Ali Al Naimi writes, “High international oil prices are bad news. Bad for Europe, bad for the US, bad for emerging economies and bad for the world’s poorest nations. A period of prolonged high prices is bad for all oil producing nations, including Saudi Arabia, and they are […]
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“Out in the Blue” Part 9 of Video Series “Distant Arabia”
- March 28,2012
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- SUSTG Team
In this clip excerpted with permission from the documentary The Prize: The Epic Quest for Oil, Money and Power based on the book of the same name by Daniel Yergin, the story of Tom Barger’s first journey to Saudi Arabia is related through his movies and letters. The complete story is told in Barger’s book […]
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Geithner welcomes Saudi oil pledge
- March 21,2012
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- SUSTG Team
U.S. Treasury Secretary Timothy Geithner said he welcomed Saudi Arabia’s pledge to continue to make sure oil supplies are sufficient to meet demand.
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Saudi Aramco Rethinks Global Communications Strategy
- March 19,2012
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- SUSTG Team
Saudi Aramco, the world’s largest oil company, is rethinking its global communications strategy as it undertakes an ambitious corporate transformation. The company is understood to be actively seeking public relations agency support across a wide range of areas, including media relations, internal communications, and event management. The review covers Saudi Aramco’s operations in the Gulf, North […]
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Jadwa Saudi Chartbook – March 2012 – Trade
- March 6,2012
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- SUSTG Team
According to Jadwa Investment’s March 2012 Chart Book, “Non-oil exports hit a new all-time high in December owing to greater production of petrochemicals and plastics. Imports also jumped that month and data on letters of credit issued for imports suggest further rises are likely in the months ahead.”
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What to Know About the TASI Opening
- February 29,2012
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- Hussein Abusaaq
Saudi Arabia, the world’s largest oil exporter and the Middle East’s biggest economy, is about to complete a gradual process to open its stock market, known as the Tadawul or TASI, directly to international investors for the first time. The initial step toward this action was to give other GCC countries the right to invest […]
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MUST-READS
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Saudi Aramco increases oil, gas, and hydrogen investments
Aramco said it will raise its crude oil “maximum sustainable capacity” to 13 million barrels a day by 2027, up from 10 million in February.
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Iran boasts of rising oil exports to places ‘the US cannot fathom’
Iranian Petroleum minister Javad Owji says Iran has found dependable customers for its oil despite tough continued US sanctions—and pledged to increase production in a year. This comes as the Islamic Republic maintains that it has increased crude exports, driven by what industry analysts describe as a rise in Chinese purchases of Iranian oil.
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Saudi Arabia says it’s not responsible for high oil prices
“The international community must assume its responsibility to preserve energy supplies,” the Saudi statement added, in order to deter attacks that jeopardize “the kingdom’s production capability and its ability to fulfill its commitments.”
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Saudi Arabia not looking to be ‘central bank’ for global oil, says Dan Yergin
Daniel Yergin, S&P Global vice chairman, joins 'Power Lunch' to discuss the implications of the change in energy distribution from Russia, why Saudi Arabians and the UAE have been hesitant to share energy resources and how much sanctions will affect Russian oil output
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White House believes Russia is seeing big decline in oil sales
Instead, the key phenomenon hurting the Russian oil industry is what experts refer to as “self-sanctioning,” as private traders refuse to buy and sell the product even though Western sanctions were designed to allow them to continue to do so. Oil traders have said they are voluntarily turning down Russian oil in part because of the uncertainty of future Western sanctions, and in part because they do not want to be seen as providing financial support for Russia’s invasion of Ukraine.
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Saudi Aramco full-year profit more than doubles on soaring oil prices
Saudi Arabian oil giant Aramco reported blowout full-year earnings on Sunday, posting a more than doubling in year-on-year net profit to $110 billion. Aramco’s 2021 net income increased by 124% to $110 billion in 2021, compared to $49 billion in 2020, citing higher crude oil prices, stronger refining and chemicals margins, and the consolidation of its chemicals business, SABIC’s, full-year results.
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Oil market heads for ‘biggest supply crisis in decades’ with Russia’s exports set to fall, IEA says
Three million barrels per day of Russian oil output is at risk beginning in April as sanctions hit and buyers shun the nation’s exports, the International Energy Agency said Wednesday. “The prospect of large-scale disruptions to Russian oil production is threatening to create a global oil supply shock,” the Paris-based firm said in its monthly oil report, adding that this could ultimately be the “biggest supply crisis in decades.”
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Saudi Aramco full-year profit more than doubles on soaring oil prices
Aramco’s 2021 net income increased by 124% to $110 billion in 2021, compared to $49 billion in 2020, citing higher crude oil prices, stronger refining and chemicals margins, and the consolidation of its chemicals business, SABIC’s, full-year results.
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Saudi Arabia hikes oil investments as it profits from price surge
Aramco said it would boost its capital expenditure (capex) to $40-50 billion this year, with further growth expected until around the middle of the decade. Capex was $31.9 billion last year, up 18% from 2020 - indicating an increase of about 50% for this year at the middle of the guidance range.
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Saudi Arabia hikes oil investments as it profits from price surge
Aramco said it would boost its capital expenditure (capex) to $40-50 billion this year, with further growth expected until around the middle of the decade. Capex was $31.9 billion last year, up 18% from 2020 - indicating an increase of about 50% for this year at the middle of the guidance range.
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