Saudi Arabia sets new gasoline prices

Monday, 1 January 2018

Saudi Arabia is set to raise local gasoline prices on Monday, state news agency SPA reported. It said Octane 91 will sell for 1.37 riyals a litre, up from 0.75 riyals, while Octane 95 will sell for 2.04 riyals a litre, up from 0.90 riyals. The price of diesel for trucks remains unchanged.“The regulatory authorities are monitoring the markets to ensure that prices are applied, not manipulated, and that supplies are not interrupted, and that legal penalties will be ...

Petrochemicals: Leveraging Saudi Arabia’s Sweet Spot

Wednesday, 27 December 2017

Saudi Arabia’s efforts to broaden its share in the global petrochemicals market since the 1990s are paying off. An early start has given the Kingdom a sturdy foothold to fend off intensifying competition from Asia, the US and Iran in the rapidly-growing segment. Market growth also supports the diversification of Saudi Arabia’s oil-centric economy and broadens the local job market – both cornerstones of the Kingdom’s Vision 2030. Saudi Arabia’s petrochemical industry ...

Saudi Arabia hopes to start nuclear pact talks with US in weeks

Thursday, 21 December 2017

Saudi Arabia aims to start talks with Washington within weeks on an agreement to allow US firms to participate in its nascent civilian nuclear energy programme, with the first tender expected in 2018, the kingdom’s energy minister said on Wednesday. Saudi Arabia is interested in reaching a civilian nuclear cooperation agreement with Washington, and Riyadh has invited US firms to take part in developing the kingdom’s first atomic energy programme. The world’s top oil exporter ...

Saudi energy minister signs 18 MoUs with Iraq

Tuesday, 5 December 2017

Saudi Arabia’s Minister of Energy, Industry and Mineral Resources Engineer Khalid bin Abdulaziz Al-Falih and his Iraqi Oil Minister Engineer Jabbar Al-Alluaibi witnessed singed 18 memorandums of understanding between Saudi and Iraqi companies in the fields of energy.Petrochemical giant Saudi Basic Industries Corp (SABIC) plans to open an office in Iraq soon, Saudi Arabia’s energy minister said during a visit to Iraq’s southern oil city of Basra, as relations between Riyadh and ...

Saudi King receives US Secretary of energy

Monday, 4 December 2017

King Salman bin Abdulaziz Al Saud received at Al-Yamamah Palace United States Secretary of Energy Rick Perry. At the outset of the reception, the Secretary conveyed to the King and the Crown Prince the greetings of President Donald Trump of the United States of America, while the King expressed his greetings to the President. During the meeting, they reviewed the relations of friendship, the prospects of bilateral cooperation between the two countries and ways of enhancing them.

Saudi crown prince meets with US Secretary of Energy Rick Perry

Monday, 4 December 2017

Saudi Crown Prince Mohammed bin Salman met with the United States’ Secretary of Energy Rick Perry in Riyadh on Sunday. During the meeting, they discussed the strategic partnership between the two countries in various fields, especially in energy, environment, industry and joint investments between the two countries, especially in the petrochemical, infrastructure and energy sectors. The Saudi crown prince affirmed the kingdom's keenness to stabilize energy markets and supply them in a ...

Turkey looking to diversify gas import supplies

Monday, 20 November 2017

Turkey is working on possible gas imports from the Middle East, Central Asia, the East Mediterranean and Africa, according to the text of a speech, which Energy Minister Berat Albayrak was making on Monday. In the text of the speech, which he was making to a parliamentary budget commission, Albayrak said Turkey was looking to diversify the resources and routes for natural gas imports to increase competition.

Oil eases as traders, investors grow edgy ahead of OPEC meeting

Monday, 20 November 2017

Oil eased on Monday, as traders were reluctant to take on big new positions ahead of an OPEC meeting next week, when the exporter group is expected to decide whether to continue output cuts aimed at propping up prices. Brent crude futures were at $62.37 per barrel by 1002 GMT, down 35 cents on the day, while U.S. West Texas Intermediate (WTI) crude futures were down 7 cents at $56.48 a barrel. The Organization of the Petroleum Exporting Countries (OPEC), together with a group of non-OPEC ...

Saudi Electricity Company ranks 14th largest power company globally

Saturday, 18 November 2017

The Saudi Electricity Company has ranked 14th among the electricity companies in the world after it topped the list of electric power companies in the Arab countries by market value which reached at the end of September 2017 at about $26.5 bln.“This rank is a result of the company success during the past few years in developing its policies and strategic plans, and seeking to compete on the global performance indicators through the resettlement of modern technology, and training of ...

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