Tag: Saudi Arabia

Saudi Arabia looks to nuclear to diversify its energy mix

Saudi Arabia looks to nuclear to diversify its energy mix

Saudi Arabia announced its intention to build its first nuclear reactor as part of wider reforms in the country. The government hopes to expand nuclear installed capacity to 17.6 GW by 2032, making it one of the most ambitious nuclear initiatives in the world. According to the International Atomic Energy […]

US to become key global energy source

US to become key global energy source

A top US energy diplomat has said America will become a significant energy source across the globe, with its innovation in technology and financing that will help boost oil and gas production over the next ten years. Frank Fannon, assistant secretary in the energy bureau of the U.S. state department, […]

Saudi Arabia and Russia extend oil pact

Saudi Arabia and Russia extend oil pact

Saudi Arabia and Russia have agreed to extend their partnership to maintain oil stability, according to Saudi Energy Minister Khalid al-Falih. “Saudi Arabia and Russia will interfere together, along with the heads of the other producing states, to prevent the market form falling out of balance,” the minister said during […]

Saudi Aramco to invest in Chinese refinery-petrochemical project

Saudi Aramco to invest in Chinese refinery-petrochemical project

Saudi Aramco has signed an agreement that will see the state-owned oil giant invest in a refinery-petrochemical project in eastern China, as it looks to expand its global downstream operations. Details released by the Zhoushan government suggest the memorandum of understanding between Aramco and Zhejiang province includes an investment in […]

OPEC and Russia reject Trump’s call to increase production

OPEC and Russia reject Trump’s call to increase production

Saudi Arabia and OPEC’s biggest oil producing ally, Russia, have ruled against any immediate increases to crude output, despite calls from US President Donald Trump to boost production in a bid to cool the market. Trump reinforced his demands for OPEC to help lower prices after international benchmark Brent crude […]

Aramco to spend $133bn drilling over 10 years

Aramco to spend $133bn drilling over 10 years

Saudi Aramco has announced it will spend over $133 billion on drilling for oil and gas over the next decade, despite the country’s attempts to diversify its economy away from its reliance on the energy sector. During a recent graduation ceremony at the Saudi Arabian Drilling Academy (SADA), Aramco senior […]

Russia and Saudi commit to long-term cooperation pledge

Russia and Saudi commit to long-term cooperation pledge

Russian energy minister Alexander Novak and his Saudi counterpart Khalid al-Falih have committed to a long term working cooperation agreement to encourage greater collaboration between OPEC and non-OPEC members. During a meeting in Moscow the two energy ministers discussed extending bilateral ties and the wider global energy market. The Russian […]

OPEC and partners extend easing oil production cuts

OPEC and partners extend easing oil production cuts

OPEC and its partners reduced their total production in July by 9% more than initially agreed in a production cut deal. A committee made up of representatives from Saudi Arabia, Russia, as well as Kuwait, the UAE, Algeria, Venezuela and Oman found that total production was 9% above the agreed […]