Egypt and Saudi Arabia signed a memorandum of understanding (MoU) to strengthen bilateral cooperation in oil, natural gas and petrochemicals, opening new avenues for energy-sector integration, investment and trade between the two countries. The agreement was signed by Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, and Saudi Arabia’s Minister of Energy, Prince Abdulaziz […]
Oil fell as Saudi Arabia cut crude prices for Asian buyers in a sign that physical supplies are becoming more readily available as Middle Eastern exports recover.
Seven of the world’s largest oil-exporting countries agreed Sunday to maintain their baseline production levels for November, as fuel prices remain elevated amid the Iran war. The “OPEC+” group, which includes Algeria, Iraq, Kazakhstan, Kuwait, Oman, Russia and Saudi Arabia, decided to “maintain” oil production levels they agreed to in September, the Organization of the […]
Saudi Arabia has completed repairs on its East-West pipeline, which had been shut down by a drone attack. The pipeline, which has served as a bypass route around the Strait of Hormuz since the U.S.-Iran war, is running again, raising the question of whether crude prices that have climbed above $100 a barrel will stabilize. […]
Saudi Arabia has restarted its East-West oil pipeline, restoring at least some flow through the 4-million-barrel-per-day route that had become the kingdom’s main escape hatch around the Strait of Hormuz.
Satellite images gathered by Bloomberg show supertankers with capacity for 14 million barrels at Saudi Arabia’s Gulf export terminals over the weekend, the highest tanker count observed since at least June, according to data compiled from the European Union’s Sentinel-2 satellite.
Saudi Arabia halted operations at several energy facilities in the south after fresh Houthi attacks sparked fires, adding to concerns over oil supplies as Brent crude approaches $100/bbl.
Saudi Arabia has boosted its crude oil exports from Egypt’s Mediterranean port of Sidi Kerir by about 33% in the month since the Houthis threatened Saudi oil shipments in the southern Red Sea and the Bab el-Mandeb Strait, tanker-tracking data compiled by Bloomberg showed on Friday.
Halliburton has secured lump-sum turnkey contracts from Aramco for well delivery across multiple Saudi fields, Halliburton announced on Thursday
Halliburton has secured multi-year lump sum turnkey (LSTK) contracts from Aramco to support an onshore oil re-entry program across multiple fields in Saudi Arabia, further expanding the company’s integrated well delivery portfolio in the Kingdom. The award follows Halliburton’s announcement earlier this week of a separate multi-year contract supporting Aramco’s unconventional gas development program, reinforcing the company’s growing role across […]