Tag: Saudi Arabia

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Lack of Sufficient Investment is to Blame for High Fuel Prices – Prince Abdulaziz bin Salman

According to Saudi Arabia's Energy Minister, Prince Abdulaziz bin Salman, a lack of investment in global refining capacity is one of the main drivers of the global rally in gasoline,...
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Saudi Arabia Reiterates Commitment to the OPEC+ Agreement and Russia

Despite the conflict between Russia and Ukraine, last week, the Saudi Press Agency reported that Saudi Arabia's Crown Prince Mohammed bin Salman (MbS) reaffirmed his country's "commitment to the 'OPEC+'...
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It is US’s Prerogative to Release to Draw Crude from its SPR – Saudi Arabia

Saudi Arabia's Energy Minister, Prince Abdulaziz bin Salman, told Reuters on Monday that it is up to the US administration to decide whether to draw crude oil from its Strategic...
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Saudi Arabia’s Aramco Buys Stake in a Polish Refinery

Saudi Arabia has purchased a share in a Polish refinery to boost its downstream presence and crude consumers in Eastern Europe. Aramco has agreed to buy a 30% investment in...
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Saudi Supplies Full Volumes to Asia for the Fourth Month in a Row

According to Reuters, Saudi Arabia will supply full agreed oil volumes to most of its Asian consumers, citing anonymous people familiar with the Kingdom's plans. This will be the fourth...
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Saudi’s Aramco Agrees $15.5 Billion Gas Pipeline Deal with BlackRock and Hassana Investment Company

Aramco has agreed to a $15.5 billion lease and leaseback transaction with a consortium led by BlackRock Real Assets and Hassana Investment Company, the investment management arm of Saudi Arabia's...
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Global Oil Market Overreacted to News of Omicron Last Week – Aramco’s CEO

According to Saudi-owned Al Arabiya TV, Amin Nasser, the CEO of the world's largest oil company and largest oil exporter, the global market overreacted to the new Omicron COVID variation...
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Saudi Arabia Remains China’s Top Supplier for the Eleventh Month in a Row

Per a Reuters report, Saudi Arabia has remained China’s number-one crude oil supplier, customs data for October has shown. Saudi oil exports to China increased by 19.5% from the previous...
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OPEC+ Has Delivered More than Any Other Group on the Planet – Prince Salman

Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman remarked last week during the ADIPEC 2021 opening ceremony that the OPEC+ group has achieved more impressively than any other group on...
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COP26: Saudi’s Energy Minister Refutes Claims the Kingdom is Blocking Climate Change Progress

Greenpeace's accusations were rejected by Saudi Arabia's Energy Minister, Prince Abdulaziz bin Salman, who accused the campaigning organisation of spreading "lies" and "fabrications" about the Kingdom's climate change policies. The...
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