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  • Saudi Aramco cancelled planned roadshows in Asia, the US and Europe in November, after a luke-warm reception from international investors for its long-awaited initial public offering (IPO).Investors valued the state-owned company below the $2tn target set by Crown Prince Mohammed bin Salman. Saudi A...

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  • The war of words between Saudi Arabia and Russia over plunging oil prices intensified last night as Opec warned there could be a repeat of the 1998 crash when crude reached $10 per barrel.

  • Saudi Arabias King Salman has appointed his son Prince Abdulaziz bin Salman as the new Energy Minister, replacing Khalid al-Falih.Prince Salman has been the Saudi Minister of State for Energy Affairs since 2017, having previously worked in the roles of Assistant Oil Minister and Deputy Oil Minister...

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  • The Saudi oil minister, Ali al-Naimi, was fairly emphatic yesterday: A price war with non-Opec producers? 'Absolutely not.' But it is becoming clear that the mainly Middle East-based oil cartel has effectively lost control of a crude market where the price of Brent blend plunged 9% to under $19 a ba...

  • Saudi Arabia will raise oil production by 500,000 barrels a day to a record total production of 9.7 million barrels a day. The increase is in response to calls from 30 to 60 consumer countries, but Saudi Arabia have also called on the West to cut fuel taxes to lower the cost of petrol for consumers.

  • The oil market was thrown into fresh disarray yesterday after it emerged that Saudi Arabia had raised output in defiance of a ruling by Opec that no increase was needed. The kingdom was said to be pumping an extra 250,000 barrels a day into the market and would add another 250,000 from next month.

  • Saudi Aramco has completed its acquisition of Shells 50% interest of the SASREF joint venture in Jubail Industrial City, in the Kingdom of Saudi Arabia.The acquisition supports Saudi Aramcos plan to increase the complexity and capacity of its refineries, as part of its long-term downstream growth ...

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  • McDermott has been awarded a contract in excess of $3bn for Package 1 of Saudi Aramco's Marjan increment development mega-project to provide engineering, procurement, construction and installation (EPCI) of the gas-oil separation plant (GOSP), in a consortium with China Offshore Oil Engineering...

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