Energy | SUSTG.com – News, Analysis, and Features on all things Saudi Arabia

SUSTG Team
|
4. 9. 2020

Saudi Arabia’s Public Investment Fund has "amassed stakes worth roughly $1 billion in four major European oil companies," the WSJ reports, as the deep-pocketed sovereign wealth fund goes on a buying spree of assets on the cheap amidst a global economic downturn.

ARAMCO-SABIC

Report: SABIC, Aramco set to decide on oil to chemicals project in 2Q 2020

SUSTG Team
|
1. 17. 2020

Saudi Basic Industries Corp (SABIC) and Saudi Aramco expect to announce in the second quarter whether they’ll proceed with plans to build a facility to process crude oil directly into chemicals, Bloomberg reports.

Renewable Energy

Saudi Arabia launches third phase to build up solar power capacity, invites bidders for new projects

Saudi Arabia’s energy ministry has issued a request for qualifications for the third round of the Kingdom’s National Renewable Energy Program (NREP), which comprises of "four Solar PV projects with a combined generation capacity of 1,200 MW," the Saudi Press Agency said.
Saudi Aramco IPO

Saudi Aramco to Seek $1.7 billion valuation with 1.5% Share Float; Cancels International Roadshow

Saudi Aramco is seeking a valuation of up to $1.7 trillion, which would become the world's biggest IPO and confirm the company as the world's most valuable.
Security

Saudi Arabia, UAE and Norway Say ‘State Actor’ Likely Attacked Oil Tankers

Saudi Arabia, the UAE, and Norway have told the UN Security Council that the recent attack on four oil tankers off the UAE coast was a "sophisticated and coordinated" operation most likely conducted by a "state actor," according to reports.
Renewable Energy

Saudi Arabia plans 2.6 GW solar park near Mecca

The Faisaliah Solar Power Project is planned to be developed in several stages by the Saudi Ministry of Energy, Industry and Mineral Resources and the Development Authority of Mecca.
Oil Prices

Oil Posts Biggest Weekly Gain Since December 2016

Brent crude headed for its biggest weekly gain since December 2016 after several months of price falls as Saudi Arabia’s production cuts outweighed concerns over the health of the global economy, according to reports.
OPEC-Russia Alliance

Crucial Test for Saudi Arabia, Russia on Oil Output at OPEC Meeting in Vienna

OPEC and Russia are facing a "crucial test" on Thursday at a meeting in Vienna as Saudi Arabia and Russia seek to come to an agreement on oil output.
Saudi Aramco

Aramco Set to Invest $300 billion over 10 years in Oil and Gas Projects

While speaking at the ADIPEC Energy Conference in Abu Dhabi, Aramco CEO, Amin Nasser, declared Saudi Aramco's plans to invest $300 billion over 10 years in upstream oil and gas projects.
ExxonMobil

ExxonMobil Announces $20 billion Investment in Manufacturing on U.S. Gulf Coast

Exxon Mobil Corporation said in a press release that it is expanding its manufacturing capacity along the U.S. Gulf Coast through planned investments of $20 billion over a 10-year period "to take advantage of the American energy revolution."

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