CARACAS, VENEZUELA (By Piero Stewart, Energy Analytics Institute, 20.Jul.2026, Words: 130) — Venezuela’s foreign minister Félix Plasencia met in Riyadh with his Saudi counterpart Faisal bin Farhan Al Saud. The purpose of the meeting was to strengthen bilateral relations in preparation for the upcoming second joint commission meeting.
Category: Saudi Arabia
Saudis
OPEC+ to adjust production, reaffirms commitment to market stability
VIENNA, AUSTRIA (By OPEC, 11.Mar.2026, Words: 294) — The 8 OPEC+ countries, which previously announced additional voluntary adjustments in Apr. and Nov. 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 1 Mar. 2026, to review global market conditions and outlook. In view of a […]
Treasury reveals capital markets sector collaboration with Saudi Arabia
WASHINGTON, DC (By US Treasury, 17.Nov.2025, Words: 404) — On 17 Nov.2025, the US Department of the Treasury and the Kingdom of Saudi Arabia signed 2 new frameworks for enhanced cooperation between our countries. As part of president Donald J. Trump’s historic strategic economic partnership with Saudi Arabia, announced in […]
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EAI NRG Dashboard 2 Nov. 2025 [free pdf download]
BATON ROUGE, LOUISIANA (By Steve Stewart, Energy Analytics Institute, 2.Nov.2025, Words: 2,000) — The Energy Analytics Institute (EAI) NRG Dashboard — a must read for investors, students, academics and energy executives among others interested or already following the Latin America and Caribbean (LAC) region energy sector in particular and the global energy […]
Arameo, Baker Hughes ink deal to expand coiled tubing drilling operations across the Kingdom
HOUSTON, TEXAS and LONDON, ENGLAND (By Baker Hughes, 24.Oct.2025, Words: 337) — Baker Hughes announced an award from Aramco to expand its integrated underbalanced coiled tubing drilling (UBCTD) operations across Saudi Arabia’s natural gas fields. The order was booked in the third quarter of 2025. Under the multi-year agreement, Baker Hughes will expand its […]
US-Saudi Business Council names Olayan and Fraser to BODs
BATON ROUGE, LOUISIANA (By Steve Stewart, Energy Analytics Institute, 21.Oct.2025, Words: 440) — The US-Saudi Business Council announced appointment of Ms. Lubna S. Olayan, chair of the corporate board of The Olayan Group, and Ms. Jane Fraser, chief executive officer of Citi, as co-chairs of the Council’s board of directors, representing […]
8 OPEC+ countries reaffirm commitment to market stability
VIENNA, AUSTRIA (By OPEC, 5.Oct.2025, Words: 286) — The 8 OPEC+ countries, which previously announced additional voluntary adjustments in Apr. and Nov. 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 5 Oct. 2025, to review global market conditions and outlook In view of […]
Aramco announces second quarter and half-year 2025 results [pdf download]
DHAHRAN, KINGDOM SAUDI ARABIA (By Aramco, 6.Aug.2025, Words: 359) — “Aramco’s resilience was proven once again in the first half of 2025 with robust profitability, consistent shareholder distributions and disciplined capital allocation. Despite geopolitical headwinds, we continued to supply energy with exceptional reliability to our customers, both domestically and around […]
Eight OPEC+ countries eye 547,000 b/d production adjustment [table]
VIENNA, AUSTRIA (By OPEC, 3.Aug.2025, Words: 294) — Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman reaffirmed their commitment to market stability on current healthy oil market fundamentals and steady global economic outlook and adjust production. The 8 OPEC+ countries, which previously announced additional voluntary adjustments in Apr. […]
![OPEC+ reaffirm commitment to market stability [table]](https://energy-analytics-institute.org/wp-content/uploads/2020/08/Aramco.jpg)
OPEC+ reaffirm commitment to market stability [table]
BATON ROUGE, LOUISIANA (By Steve Stewart, Energy Analytics Institute, 5.Jul.2025, Words: 309) — Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman reaffirmed their commitment to market stability on current healthy oil market fundamentals and steady global economic outlook and adjust production. The 8 OPEC+ countries, which previously announced […]
Woodside inks non-binding collaboration agreement with Aramco
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 14.May.2025, Words: 234) — Woodside Energy Ltd and Aramco entered into a non-binding collaboration agreement to explore global opportunities, including Aramco’s potential acquisition of an equity interest in and LNG offtake from the Louisiana LNG project. Both companies are also exploring opportunities for […]
OPEC+ countries commit to market stability, 411 Mb/d adjustment
HOUSTON, TEXAS (Ian Silverman, Energy Analytics Institute, 3.May.2025) — 8 OPEC+ countries — namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman — which previously announced additional voluntary adjustments in Apr. and Nov. 2023, announced plans to implement a production adjustment of 411 thousand barrels per day (Mb/d) […]
SANAD to start 3 additional newbuild rigs in the remainder of 2025
BATON ROUGE, LOUISIANA (Steve Stewart, Energy Analytics Institute, 29.Apr.2025) — Nabors Industries Ltd., through its 50/50 joint venture in Saudi Aramco Nabors Drilling Company (SANAD) with Saudi Aramco, expects 3 newbuild rigs to commence operations during the balance of 2025. This, after SANAD began operating its tenth newbuild rig during […]
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IMF revises global growth forecasts downward [PDF download]
ATLANTA, GEORGIA (Chad Archey, Energy Analytics Institute, 22.Apr.2025) — The global economy has appeared to have stabilized, with steady yet underwhelming growth rates, according to the International Monetary Fund (IMF). This, after enduring a prolonged and unprecedented series of shocks. The agency warned however that the landscape has changed as […]
NextDecade and Aramco execute 1.2 MTPA LNG SPA for Rio Grande LNG Train 4
BATON ROUGE, LOUISIANA (Steve Stewart, Energy Analytics Institute, 8.Apr.2025) — NextDecade Corporation executed a 20-year liquefied natural gas (LNG) sale and purchase agreement (SPA) with a subsidiary of Aramco for offtake of 1.2 million tonnes per annum (MTPA) of LNG from Train 4 at the Rio Grande LNG (RGLNG) facility. The agreement follows […]
8 OPEC+ countries reaffirm commitment to market stability
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 3.Apr.2025) — 8 OPEC+ countries — Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria and Oman — reaffirmed their commitment to stabilizing the oil market and upward production adjustments. The 8 OPEC+ countries previously announced additional voluntary adjustments in Apr. 2023 and Nov. […]
Aramco finalizes purchase of 50% interest in Blue Hydrogen Industrial Gases Company (BHIG)
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 24.Mar.2025, Words: 204) — Aramco and Air Products Qudra (APQ) announced that Aramco has completed the acquisition of a 50% equity interest in the Jubail-based Blue Hydrogen Industrial Gases Company (BHIG). BHIG targets the production of hydrogen, including lower-carbon hydrogen from natural gas, […]
Aramco Launches Saudi Arabia’s First CO2 Direct Air Capture Test Unit
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 20.Mar.2025) — Aramco launched the Kingdom’s first CO2 Direct Air Capture (DAC) test unit, capable of removing 12 tons per year (t/y) of carbon dioxide from the atmosphere. The pilot plant, developed in collaboration with Siemens Energy, represents a significant step in Aramco’s […]
COMMENTARY: Time for the US, OPEC, Europe China, Asia and Russia to Negotiate
CARACAS, VENEZUELA (Carlos A. Rossi, Energy Analytics Institute, 5.Mar.2025) — A crucial point behind Europe’s motivation to support Ukraine’s president Volodymyr Zelenski is simply to not be left behind and ignored in any oil derivative deal certain to come out of any peace negotiation between the US and Russia. Europe understands […]
Aramco to Acquire 25% Interest in Unioil, Enter Philippines Retail Market
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 19.Feb.2025) — Aramco signed definitive agreements to acquire a 25% equity stake in Unioil Petroleum Philippines, one of the largest petroleum companies in the Philippines. The acquisition aims to capitalize on anticipated growth of the high-value fuels market in the Philippines. It represents […]
CERAWeek by S&P Global Houston, 10-14 Mar. 2025
HOUSTON, TEXAS (S&P Global, 10.Feb.2025) — The 43rd annual gathering of CERAWeek by S&P Global—the world’s preeminent energy conference—will convene energy industry leaders, experts, government officials and policymakers, as well as leaders from the technology, financial and industrial communities, 10-14 Mar. 2025 in Houston. CERAWeek 2025: Moving Ahead: Energy strategies for […]
WoodMac: Key Upstream Things to Look for in 2025
(WoodMac, 8.Jan.2025) — Improving upstream sentiment comes at a time of high geopolitical tensions, and both supply and demand concerns, setting 2025 up to be a year of mixed messages. Wood Mackenzie recently released the Global Upstream: 5 things to look for in 2025 report. Key themes to watch for […]
EAI’s NRGBriefs Dec. 2024: Exxon Guyana, Venture Global IPO, Rio Tingo Argentina
HOUSTON, TEXAS (Energy Analytics Institute, 31.Dec.2024) — Energy briefs as well as others related to finance and projects during Dec. 2024 including Venture Global filing for IPO; Rio Tinto approving $2.5bn to expand the Rincon project in Argentina; ExxonMobil, with the announcement of the Hammerhead and Longtail projects offshore Guyana, […]
TotalEnergies Celebrates 50 Years in Saudi Arabia
(TotalEnergies, 3.Dec.2024) — On the occasion of French President Emmanuel Macron’s state visit to the Kingdom of Saudi Arabia and as the TotalEnergies celebrates 50 years of operations in the country, TotalEnergies underlines the importance of its strategic partnership in the field of energy with the Kingdom under the patronage […]
TotalEnergies and Aljomaih Awarded 300 MW Rabigh 2 Solar Project
(Energy Analytics Institute, 3.Dec.2024) — The consortium comprising TotalEnergies and Saudi developer Aljomaih Energy and Water Company (AEW) inked a 25-year Power Purchase Agreement (PPA) with the Saudi Power Procurement Company (SPPC) related to the 300 MW solar power project, Rabigh 2. Rabigh 2 is part of Round 5 of […]
Nabors Reports 3Q:24 Results, Updates on Saudi Arabia (PDF Downloads)
(Nabors, 22.Oct.2024) — Nabors Industries Ltd. reported third quarter 2024 operating revenues of $732mn, compared to operating revenues of $735mn in the second quarter. The net loss attributable to Nabors shareholders for the quarter was $56mn, compared to a net loss of $32mn in the second quarter. This equates to […]
Saudi Arabia Eyes Boosting Production by 1 MMb/d
(Energy Analytics Institute, 4.Oct.2024) — Saudi Arabia looks to add around 1 MMb/d of production over the next 12-15 months to reach close to 10 MMb/d by the end of 2025, according to a recent Opec report. The production increase is part of a plan by the Kingdom to stop ceding […]
Saudi Arabia Signals Oil Policy Shift
(The Washington Institute, 27.Sep.2024) — The kingdom anticipates and accepts lower oil prices, according to a news report, but the impact on other producers could be comparatively damaging. On September 26, an exclusive in the Financial Times indicated that Saudi Arabia is ready to abandon its unofficial oil price target of $100 […]
Saipem Awarded Offshore Contract in Saudi Arabia Worth$2bn
(Energy Analytics Institute, 16.Sep.2024) — Saipem has been awarded a new offshore contract worth $2bn, under the existing Long-Term Agreement (LTA) with Saudi Aramco, for the development of the Marjan field in Saudi Arabia. The award follows the completion of the bidding procedure, and the occurrence of the usual preliminary […]
Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman Extend Cuts
(Opec, 5.Sep.2024) — The OPEC+ countries, which previously announced additional voluntary cuts in Apr. and Nov. 2023, including Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, held a virtual meeting on 5 Sep. 2024, during which the eight member countries emphasized their collective resolve to […]
Saudi Arabia Sets up New Aramco Share Sale
(Reuters, 30.May.2024) — Saudi Arabia’s government on Thursday filed papers to sell a new stake in state oil giant Aramco that could raise as much as $13.1 billion, a landmark deal to help fund Crown Prince Mohammed bin Salman’s plan to diversify the economy. In the main part of the deal, Saudi […]
Petrobras Ranking by Poder 360
(Energy Analytics Institute, 18.May.2024) — In 2023, Petrobras was the 4th most profitable oil company. Saudi Arabia’s Saudi Aramco remains the leader, on its own, according to Poder 360. Petrobras ranked above other oil majors, including some with higher revenues. This is the case of the British BP, the Norwegian […]
CERAWeek 2024 Boasts Delegate Attendance of 8,100+
(Energy Analytics Institute, 22.Mar.2024) — The CERAWeek by S&P Global, held 18-22 Mar. 2024 in Houston, Texas, boasted in attendance 8,100+ delegates (9,400+ when counting staff, vendors etc), a record compared to the prior record of 7,200+ delegates at CERAWeek 2023. CERAWeek counted on 1,400 speakers and tons of S&P […]
Aramco Reports 2023 Net Income of $121.3bn
(Aramco, 10.Mar.2024) — The Saudi Arabian Oil Company announced its full-year 2023 financial results, reporting a net income of $121.3bn, its second-highest ever net income. The results, underpinned by Aramco’s unique operational flexibility, reliability and low-cost production base, reflect the company’s ongoing commitment to creating value for its shareholders. ____________________
Concacaf and Aramco Ink Multi-year Partnership
(Aramco, 23.Feb.2024) — Concacaf has agreed to a multi-year Confederation-wide partnership with Aramco, a global integrated energy and chemicals company. Aramco will become the “Official Energy Partner” for all of Concacaf’s national teams and club competitions, beginning with the upcoming W Gold Cup, commencing today through to the Final on […]
Aramco’s Shift to Abandon 13 MMb/d Capacity Target
(WoodMac, 1.Feb.2024) — Addressing the Saudi Ministry of Energy’s instructions to Saudi Aramco to abandon its 13 million barrels per day (b/d) target and maintain 12 million b/d, Ann Louise Hittle, vice president of Oil Markets for Wood Mackenzie, said “Based on our forecast for oil demand to peak in […]
Ministerial Roundtable Sets Stage for Future Minerals Forum 2024
(Minister of Industry and Mineral Resources of the Kingdom of Saudi Arabia, 8.Jan.2024) — The Ministerial Roundtable, a pivotal precursor to the third edition of the Future Minerals Forum, is poised to take the spotlight on 9 Jan. 2024. Led by its Chair, H.E. Bandar Ibrahim AlKhorayef, Minister of Industry and Mineral […]
S&P Global Releases its 2024 Energy Outlook
(S&P Global, 14.Dec.2023) — Analysts at S&P Global Commodity Insights, an independent provider of information, data, analysis, benchmark prices and workflow solutions for the commodities, energy and energy transition markets, today released their latest 2024 energy outlook. OVERVIEW After years of turbulence, global markets are still striving to find sustainable […]
CGG Sells its Stake in ARGAS to TAQA
(CGG, 21.Nov.2023) — CGG has entered into a definitive agreement with Industrialization and Energy Services Company (TAQA) to sell its entire 49% stake in Arabian Geophysical and Surveying Company (ARGAS). The transaction is expected to close this year, subject to satisfying relevant conditions. Sophie Zurquiyah, CEO CGG, said “The sale […]
Sungrow Announces Renewable Energy Solutions to Support Saudi’s Vision 2030
(Sungrow, 1.Nov.2023) — Sungrow, the global inverter and energy storage system supplier, introduced its state-of-the-art solar-plus-storage energy solutions covering utility-scale, C&I and residential scenarios during the Solar Show KSA 2023. The solutions incorporate cutting-edge technologies in the industry, aiming to accelerate Saudi Arabia’s transition from traditional energy to clean power and increase […]
Aramco Enters LNG Business by Buying Interest in MidOcean Energy
(Aramco, 28.Sep.2023) — Aramco, one of the world’s leading integrated energy and chemicals companies, has signed definitive agreements to acquire a strategic minority stake in MidOcean Energy for $500mn. MidOcean is a liquefied natural gas (LNG) company formed and managed by EIG, a leading institutional investor in the global energy […]
Aramco Enters Global LNG Business with $500mn Stake in MidOcean Energy
(Aramco, 28.Sep.2023) — Aramco, one of the world’s leading integrated energy and chemicals companies, has signed definitive agreements to acquire a strategic minority stake in MidOcean Energy for $500mn. Highlights: Aramco agrees to acquire a strategic minority stake in MidOcean Energy for $500mn, with option to increase size of shareholdingStrategic […]
TotalEnergies, Aramco Complete Processing of oil from Plastic Waste
(TotalEnergies, 17.Jul.2023) — TotalEnergies, Aramco and SABIC have for the first time in the Middle East and North Africa successfully converted oil derived from plastic waste into ISCC+ certified circular polymers. The plastic pyrolysis oil, also called plastic waste derived oil (PDO), was processed at the SATORP refinery jointly owned […]
TotalEnergies, Aramco and SABIC Process Oil from Plastic Waste
(TotalEnergies, 17.Jul.2023) — TotalEnergies, Aramco and SABIC have for the first time in the Middle East and North Africa successfully converted oil derived from plastic waste into ISCC+ certified circular polymers. The plastic pyrolysis oil, also called plastic waste derived oil (PDO), was processed at the SATORP refinery jointly owned by […]
Aramco and TotalEnergies Award $11bn Deals for Amiral
(TotalEnergies, 24.Jun.2023) — Aramco and TotalEnergies awarded Engineering, Procurement and Construction (EPC) contracts for the $11bn “Amiral” complex, a future world scale petrochemicals facility expansion at the SATORP refinery in the Kingdom of Saudi Arabia. A signing ceremony took place in Dhahran attended by Amin H. Nasser, Aramco President and CEO, […]
Kapsarc Joins Efforts to Boost Global Dialogue
(KAPSARC, 21.Jun.2023) — The King Abdullah Petroleum Studies and Research Center (KAPSARC) announces its recent accreditation of observer status by the United Nations Environment Programme (UNEP), marking another significant milestone in its journey as a leading advisory think tank, actively participating in global dialogues pertaining to energy, climate, and the environment. […]
Saudi Aramco Reports 1Q:23 Earnings of $31.9bn [PDF Download]
(Saudi Aramco, 9.May.2023) — Global crude oil prices declined in the first quarter of 2023 mainly driven by macroeconomic events contributing to market volatility. Aramco believes it is well positioned to withstand fluctuating commodity prices through its low-cost upstream production and strategically integrated downstream operations, and continued to deliver robust […]
Fitch Upgrades Saudi Arabia to ‘A+’; Outlook Stable
(Fitch Ratings, 5.Apr.2023) — Fitch Ratings upgraded Saudi Arabia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘A+’ from ‘A’. The Outlook is Stable. A full list of rating actions is at the end of this rating action commentary. KEY RATING DRIVERS Balance Sheet Strength Drives Upgrade: The upgrade of Saudi Arabia’s […]
KAPSARC to Participate in CERAWeek by S&P Global 2023
(KAPSARC, 5.Mar.2023) — The Riyadh-based King Abdullah Petroleum Studies and Research Center (KAPSARC) will join the world’s energy industry leaders, experts, government officials and policymakers at the 41st annual CERAWeek by S&P Global, to be held from 6-10 March in Houston, Texas. KAPSARC is an affiliate partner of this year’s CERAWeek […]
Riyadh to Host 44th IAEE International Conference 4-9 Feb. 2023
(KAPSARC, 14.Jan.2023) — The King Abdullah Petroleum Studies and Research Center (KAPSARC) and Saudi Association for Energy Economics (SAEE) are proud to host the 44th IAEE International Conference in Riyadh from 4-9 February 2023. For the first time, the IAEE is holding its prestigious annual international conference in the Middle […]