New platform goes live with content catering to key decision-makers and influencers in the Saudi Arabian energy market
Oil & Gas KSA, a new platform exclusively catering to the Saudi Arabian energy sector, went live on Monday, February 28. The site is available here. Energy industry stakeholders can sign up now for access to Oil & Gas KSA’s newsletter. The launch of the Oil & Gas KSA online will be followed up with […]
Global benchmark for oil – Brent crude – crosses 7-year high as Russia announces special military operation in Ukraine
Brent crude crossed $100 a barrel for the first time since 2014 on account of Russia’s statement that military action is imminent in Ukraine. WTI jumped by 4.74% to trade at $96.47, while the global benchmark for oil – Brent crude – jumped by 4.56% to $101.26 per barrel as of 24 February. The BBC […]
The chairman went on to say that “energy transitions take time"
Saudi Arabian energy giant Aramco plans on remaining the world’s most important producer of oil and gas even while it intends to achieve net zero Scope 1 and 2 greenhouse gas emissions across all of the assets it owns and operates, the chairman of the company’s board of directors Yasir Al-Rumayyan said in a statement. […]
The new platform seeks to inform the key decision-makers and influencers in the Saudi Arabian energy market
ITP Media Group announced Friday that it would be launching a new platform exclusively for Saudi Arabia’s energy sector: Oil & Gas KSA. The new brand will be launching on February 28, and was conceived as interest has grown from our Saudi Arabian readership in Oil & Gas Middle East. The launch is perhaps unsurprising […]
Oil prices rollercoaster as JCPOA deal days away, Russia-Ukraine situation in standstill
Oil prices slipped by more than 2% early Thursday (17 February) morning due to comments regarding the JCPOA deal. West Texas Intermediate (WTI) fell more than 2% after closing above $93 a barrel on Wednesday, while Brent crude was trading down 2.6%. Iran’s top negotiator Ali Bagheri Kani tweeted that efforts to restore the […]
BP aims to generate earnings of $9-10bn by 2030 driven by businesses from bioenergy, convenience, electrification, renewables and hydrogen.
British multinational company BP has announced its annual financial results, reporting underlying replacement cost profit, a proxy for net profit, of $12.8bn for 2021, its highest in eight years, compared to a loss of $5.69bn during 2020. The firm’s underlying profit for Q4 2021 was $4.1bn, up 24 percent quarter-on-quarter, compared with $3.3bn in Q3 […]
US oil crossed $90/bbl for the first time since 2014 as concerns mount over increasing demand versus constrained supply
“Continued shortfalls may tip the market into deficit and put upward pressure on oil prices,” independent advisory firm notes
OPEC+ member states underperformed their production target by 832,000 b/d in December, the group’s advisory committee’s analysis stated, S&P Global Platts reported. This casts uncertainty on whether the allies will increase supply in line with global demand, S&P noted. Today’s committee meeting to discuss March output levels will likely approve another 400,000 b/d hike in […]
The oil giant generated $48 billion of cash flow from operating activities, the highest level since 2012
American oil company ExxonMobil reported Tuesday a profit of $23 billion in 2021 and Q4 earning of $8.9 billion owing to the recovery of oil prices throughout last year. In addition, the company stated that it generated $48 billion in cash flow from operating activities – the highest in 10 years – and reduced its […]
Analysts say the pressure from importing nations and the pace of crude's price rally indicate a potential for OPEC+ to increase output
Investment banking firm Goldman Sachs said on Tuesday that OPEC+ may announce a bigger-than-expected rise in output due to Brent oil prices’ increase to around $90 per barrel, as cited by Bloomberg. The outcome of either an expected hike of 400,000 barrels a day for March versus a bigger increase following Wednesday’s OPEC meet remains […]
