Saudi Aramco

Advanced drilling rigs to be made in Saudi Arabia under new joint venture

Innovation

NOV will own 70% interest in joint venture, while Saudi Aramco will own 30% National Oilwell Varco, Inc. announced entering into an agreement with Saudi Aramco to form a joint venture in Saudi Arabia, according to a press release. Through its state-of the art manufacturing and fabrication facilities and NOV’s market-leading drilling technologies, the joint […]

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Saudi Arabia to conserve oil at home to meet demands abroad during supply cut

News

Saudi Arabia moves to natural gas in power stations Oil-rich Saudi Arabia is hoping to reduce its crude consumption this summer by shifting some of its power plants from oil to natural gas. The move would free up more crude for export, and not force the kingdom to push output to the record high of 10.67 million b/d reached

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Saudi favors New York for Aramco IPO, also considers Toronto, London -WSJ

Energy Financial

Aramco IPO brings in investment, diversify economy Feb 20 (Reuters) – Saudi Arabia is favoring New York to list state oil giant Saudi Aramco, while also considering London and Toronto for the prospect of floating the firm, the Wall Street Journal reported on Monday. Saudi officials also talked to exchanges in Singapore, Hong Kong, Tokyo

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Opinion: Is Saudi Arabia back in the oil market share game?

News

Saudi Arabia recently slashed oil prices to Asian customers By Clyde Russell LAUNCESTON, Australia, Aug 1 (Reuters) – Sometimes actions really do speak louder than words, with Saudi Arabia’s slashing of crude oil prices to customers in Asia contrasting with recent comments from the kingdom’s top oil executive that chasing market share isn’t a priority.

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New technology produces ethylene directly from crude oil, cutting refining costs – IHS

Innovation

Exxon Mobil process completely bypasses refinery and feeds crude oil to cracking furnaces HOUSTON – Two new steam-cracking processes developed by Exxon Mobil and Saudi Aramco will allow petrochemical producers to essentially skip the refining process in converting crude oil directly to light olefins, according to consultancy IHS Inc. “In 2014, Exxon Mobil commissioned a

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