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Saudi Arabia’s budgetary deficit is set to continue to the next fiscal year after recording a $98billion deficit in 2015 with oil revenues providing 72% of the country’s income, compared to 87% last year, despite the drastic fall of prices. Read more
Saudi Arabia has positioned itself in the global oil market as the main exporter of crude oil but the country is changing its methods by increasing the amount of crude oil processed in its local massive refineries that have already Read more
Chief Executive Khalid al-Falih of Saudi Aramco was speaking at the World Energy Congress in Daegu, South Korea, when he mentioned that they are ready to begin shale gas production together with other unconventional resources to generate more power. The Read more
Saudi Arabia is expected to begin the exploitation of its shale gas resources. Aramco is engaged in talks for the acquisition of 40 extra rigs to supplement its plans for shale gas operations. The government has not made any official Read more
Saudi state-oil company Aramco suffered lately its biggest cyber attack ever that affected about 30,000 workstations of the firm. The attack, which apparently had no direct impact on crude production, forced the Saudi oil giant to shut down part of Read more
The bidding for the construction of a new refinery in Jizan, eastern Saudi Arabia, has been prolonged for a month prior to the deadline that was fixed earlier according to sources close to Aramco. The Jizan refinery is part of Read more
The National Shipping Company of Saudi Arabia (Bahri) is set to become the fourth largest owner of very large crude carrier (VLCC) if a proposed merger of fleets and operations between them and Saudi Aramco’s own subsidiary called Vela International Read more
According to industry sources familiar with the Rabigh II petrochemical expansion project, a deal is in the pipeline and will be concluded before the end of the month between the Saudian-based Oil Company, Aramco, and Sumitomo Chemical from Japan. The Read more
Sadara is a petrochemical joint venture between oil giant Saudi Aramco and Dow Chemical. Sadara will soon announce a Sukuk project according to close sources. There are claims that the move is in line with Sadara’s bid to raise billions Read more
One of the most improvised states in the Arabian Diaspora and has battling with the presence of Al Qaeda forces on its territory is suffering from serious fuel shortages. Yemen’s oil industry has come under series of attacks and the Read more