Since the appointment of the new Saudi Energy Minister, Mr Khalid al-Falih has toured six state oil companies, met Gulf oil industry ministers, the South
Tag: Saudi Arabia
Asian Markets in Focus as Iran and Saudi Arabia Fight for Market Share in Oil
Iran’s oil exports are expected to soar in May by almost 60 percent compared to a year ago, which is being mostly driven by the
Geopolitics of Oil: Saudi Arabia Appoints a New Energy Minister
Saudi Arabia on Saturday (7 May) appointed a new energy minister, replacing Ali al-Naimi, who held the post since 1995. The new head of the
Saudi Aramco Plans Expansion to Become a “Global Industrial Conglomerate”
Saudi Arabia’s energy company, Aramco, the world’s biggest oil company, presented its plans to support its expansions into new areas. The plan is part of
Oil Prices Slump on Looming Saudi Arabia-Iran Production Race
Oil prices have plunged again following analysts’ warnings of a looming production race between Saudi Arabia and Iran. The news wiped out earlier price gains
OPEC Fails to Agree on a Production Freeze
Yesterday’s (17 April) marathon negotiation session in Doha among the world’s biggest oil producers failed to produce an output freeze, a decision that could cause
An Oxymoron: Saudi Arabia and its Austerity Plan
Saudi Arabia has come to the realization that oil is no longer a reliable source of revenue to develop its economy. As a result, the
Russia Shows First Signs of the Implementation of Oil Production Freeze Deal
In February, Russia produced oil at the same rate as in January, at 10.88 million barrels per day (bpd), an almost 30-year high, regardless of
Four Major Oil Producers Announce Freeze Output at January Levels
Four major oil producers decided to freeze their production at January levels if other big energy exporters join, in response to which oil prices fell
Iran’s Playing with the OPEC Giants
Iran has recently considered sitting down at the negotiation table with oil giants over the global oil surplus which some observers interpret as an indication