Saudi Arabia Archives - Ibe Kachikwu

4th July 2022

Saudi Arabia May Further Increase Oil Prices for Asia

To benefit from robust premiums for Middle Eastern oil grades and record-high distillate margins, Saudi Arabia may increase its official selling price for crude oil delivered to Asia for the...

10th May 2022

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,...

9th March 2022

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+'...

19th January 2022

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...

13th January 2022

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...

11th December 2021

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...

8th December 2021

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...

2nd December 2021

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...

23rd November 2021

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...

22nd November 2021

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...