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  • Saudi Arabia’s Former Minister of Petroleum and Natural Resources Ali Al-Naimi Pens Memoir
     

    Saudi Arabia’s former Minister of Petroleum and Natural Resources Ali Al-Naimi has penned a memoir that offers “a rare insight into decades of domestic infighting over the future of state-run Saudi Aramco,” Reuters reports. Out of the Desert: My Journey from Nomadic Bedouin to the Heart of Global Oil, published by Portfolio Penguin, “describes the battles waged […]

     
  • Saudi Energy and Industry Minister Khalid Al-Falih: Oil Market Wrapping Up ‘Considerable Downturn’
     

    Saudi Minister of Energy, Industry and Mineral Resources Khalid al-Falih said on Wednesday that oil markets were at the end of a “considerable downturn” and that fundamentals were improving. “Market forces are clearly working after a testing period of sub-$30 oil prices… Oil demand is expanding at a healthy rate despite slower global growth,” Al-Falih said. […]

     
  • Top Saudi Investment Officials in New York for Two-Day JPMorgan Chase Event
     

    Saudi Capital Market Authority Chairman Mohammed Al-Jadaan and Tadawul stock exchange Chief Executive Officer Khalid Al Hussan are among officials attending a two-day event in New York City this week organized by JPMorgan Chase & Co., Bloomberg reports. According to Bloomberg, senior representatives of the kingdom’s economy ministry and central bank will also be present. The […]

     
  • $20 Billion Dow-Saudi Aramco Venture Takes Another Step
     

    Sadara, a joint-venture between Dow Chemical Company and Saudi Aramco has started its mixed feed cracker, the only one of its kind in the Middle East and one of 26 manufacturing units that will be part of the Sadara chemical complex. Located in Jubail Industrial City along the Gulf coast of Saudi Arabia, Sadara was […]

     
  • Deputy Crown Prince to Promote Saudi Vision 2030 in Japan, China and at G20
     

    Saudi Deputy Crown Prince, Minister of Defense and head of the influential Council of Economic and Development Affairs, HRH Mohammed bin Salman, plans to visit China August 29-31 and Japan August 31-September 3. Prince Mohammed will then attend the Group of 20 Summit September 4-5 to be held in Hangzhou, China where he will be […]

     
  • Contemporary Saudi Art Exhibit Continues Tour of America
     

    Today’s SUSTG Review includes a review from the East Bay Express about GENERA#ION, a traveling show presenting contemporary art from Saudi Arabia that is now on view in a number of galleries in San Francisco.  The East Bay Express gives the show a strong recommendation and, in fact, the exhibition has been very well-received as […]

     
  • Aramco Names Ibrahim Al Buainain as Chief Executive of Its Trading Arm
     

    Saudi Aramco has named Ibrahim Al-Buainain as chief executive of its trading arm, the company said on Tuesday, as Al-Buainain’s star continues to rise within the ranks of the energy giant. Ibrahim Al-Buainain’s promotion to CEO of Saudi Aramco Trading takes effect this month. In November 2014, Aramco named Al Buainain as head of Saudi […]

     
  • SABIC, Exxon Affiliate Studying JV Petrochemicals Complex on U.S. Gulf Coast
     

    Saudi Arabia’s SABIC said Monday it is studying launching a jointly-owned petrochemicals complex with an affiliate of U.S. Exxon Mobil. fIf developed, the project would be “located in Texas or Louisiana near natural gas feedstock and include a world-scale steam cracker and derivative units,” the company said. Before making final investment decisions, the companies will “conduct necessary […]

     
  • New Saudi Fund Created by Apicorp and Bahri Seeks to Create Biggest Tanker Fleet
     

    A venture between Arab Petroleum Investment Corporation (Apicorp) and National Shipping Co. of Saudi Arabia (Bahri) “will create the world’s largest fleet of oil tankers and support the kingdom’s plan to boost crude exports,” according to a report in Bloomberg, which cited comments from Dr. Khalid al-Falih. The venture will create a $1.5 billion fund […]

     
  • Construction Begins on ‘World’s Largest’ Gas Complex in Jazan, Saudi Arabia
     

    Construction has begun on a $2.1 billion industrial gas complex in Jazan, Saudi Arabia, which is slated to become the largest such facility in the world. The industrial gas complex will serve Saudi Aramco’s Jazan refinery and terminal when complete, and will require 600MW to operate, according to a report in Gulf Business. The contract for the […]

     

MUST-READS

  • Japan, Saudi Aramco extend Okinawa crude storage deal

    Japan Organization for Metals and Energy Security (JOGMEC) has renewed a deal with Saudi Aramco for crude oil storage on the island of Okinawa for another three years, the state-run Japanese company said on Thursday. Under the agreement, JOGMEC leases 13 national crude oil stockpiling tanks on the island southwest of mainland Japan to Aramco, enabling Saudi Arabia's state oil producer to store about 1.3 million kilolitres of crude oil for the next three years, JOGMEC said in a statement.

  • Japan, Saudi Aramco extend Okinawa crude storage deal

    Japan Organization for Metals and Energy Security (JOGMEC) has renewed a deal with Saudi Aramco for crude oil storage on the island of Okinawa for another three years, the state-run Japanese company said on Thursday. Under the agreement, JOGMEC leases 13 national crude oil stockpiling tanks on the island southwest of mainland Japan to Aramco, enabling Saudi Arabia's state oil producer to store about 1.3 million kilolitres of crude oil for the next three years, JOGMEC said in a statement.

  • Saudi Aramco and Sinopec sign initial agreement to set up refinery in China

    Leading crude oil exporter Saudi Aramco and China Petroleum and Chemical Corporation (Sinopec) have signed an initial agreement to build a refinery and a petrochemicals plant in China. The 320,000 barrels-per-day refinery and 1.5 million tonnes-per-year petrochemical cracker complex will be in operation by the end of 2025, Aramco said in a statement on Sunday. Aramco and Sinopec, along with Saudi Basic Industries Corporation (Sabic), have also signed a preliminary agreement to study the feasibility of developing a petrochemicals complex to be integrated with an existing refinery in Yanbu, Saudi Arabia.

  • Aramco, Total to Build $11 Billion Saudi Petrochemical Project

    Saudi Aramco and TotalEnergies SE took a final investment decision on an $11 billion petrochemical project in Saudi Arabia, betting that demand for materials to make plastics will continue to climb. The world’s largest oil-exporting nation is seeking alternative outlets for its vast supply of crude as countries gradually shift to cleaner energy. Aramco can add value to its sales by using the oil to make the building blocks for an enormous array of consumer items such as cars, computers and mobile phones.

  • Aramco and TotalEnergies to build petrochemical complex in Saudi Arabia

    Saudi Arabia’s ARAMCO and TotalEnergies are going to build a petrochemical complex in the Kingdom, it was announced Thursday. Construction of complex is scheduled to start in 2023 with commercial start up expected in 2027.

  • Aramcon gearing up for Dakar Rally in Saudi Arabia

    The Hail Toyota International Rally event was a stepping stone to the 45th edition of Dakar, which will run from Dec. 31 to Jan, 15, 2023. The Dakar Rally, which will be hosted in Saudi Arabia for the fourth time, will finish on the Kingdom’s eastern sea border. It will include new routes and provide many challenges for its participants. The 15 days of racing will comprise of a prologue and 14 stages, including a four-day excursion into the unexplored desert of the vast Rub’ al-Khali, or empty quarter

  • Saudi Aramco Seeks Investors For $110 Billion Unconventional Gas Project

    At the end of last year, Aramco awarded $10 billion worth of subsurface and EPC contracts for the Jafurah field development, and said it expects more than $100 billion in total overall lifecycle investment at Jafurah. Production at the field is expected to reach up to two billion standard cubic feet per day (scfd) of sales gas, 418 million scfd of ethane, and around 630,000 barrels per day of gas liquids and condensates by 2030, according to Aramco.

  • Aramco Gulf Operations, Kuwait’s KGOC agree to develop Durra gas field, Saudi news agency reports

    Saudi Aramco Gulf Operations Company signed a Memorandum of Understanding on Sunday with Kuwait Gulf Oil Company (KGOC) to develop the joint Durra gas field, Saudi state news agency (SPA) reported. Saudi Energy Minister Prince Abdulaziz bin Salman and Kuwaiti Oil Minister Badr Hamed Al Mulla attended a signing ceremony in Kuwait City, according to SPA. The development aims at producing 1 billion cubic feet of gas and 84,000 barrels of liquefied gas per day, according to the Kuwaiti state news agency.

  • Saudi Aramco’s Luberef expects to raise up to $1.32 billion from IPO

    Saudi oil giant Aramco's (2222.SE) base oil subsidiary Luberef expects to raise up to 4.95 billion riyals ($1.32 billion) from its initial public offering, it said, if it prices at the top of a range announced on Sunday. Luberef will sell nearly 30% of the company's issued share capital, or 50.045 million shares, at between 91 and 99 riyals each, the company said in a statement. State-led IPO programmes in Saudi Arabia, Abu Dhabi and Dubai have helped equity capital markets in the oil-rich Gulf, in sharp contrast to the United States and Europe, where global banks have been trimming headcount in a dealmaking drought.

  • Aramco discovers two new Saudi gas fields – SPA

    Saudi Arabia's energy minister said Saudi Aramco had discovered two new natural gas fields, Awtad and AlDahna, in the country's eastern region, state news agency SPA reported on Wednesday. Awtad was discovered southwest of the Ghawar field, and gas flowed from one well, Awtad-108001 well at a rate of 10 million standard cubic feet daily, plus 740 barrels of condensate, and another well, Awtad-100921 at 16.9 million standard cubic feet daily, and 165 barrels of condensate, SPA said.