SABIC signs construction deals with 9 companies
March 21, 2019

RIYADH — SABIC, one of the world’s largest diversified petrochemicals companies, recently signed contracts with nine construction contractors where eight of them are based on the Kingdom of Saudi Arabia.

The contracts, signed in Jubail, are designed for KSA site projects as part of the transformation journey with respect to KSA site projects procurement and execution with the objectives of:

• Enhancing EHSS culture
"...

Saudi Aramco to begin new phase of shale gas development next year
March 21, 2019

Saudi Aramco, the world's biggest oil producing company, will begin a new phase of processing unconventional gas in the Al Hasa governorate in the eastern province next year, as it looks to increase the proportion of the cleaner fuel in its energy mix.

'As part of Saudi Aramco's investment plan, we will start a new phase of the Jafura gas plant construction next year,' Saudi"...

ExxonMobil Provides $300,000 to Support Relief Efforts in Mozambique Following Cyclone Idai
March 20, 2019

(AETOS Wire)-- ExxonMobil said today that it is providing $300,000 to aid agencies to support disaster relief and recovery efforts in Mozambique following Cyclone Idai, which made landfall on March 14. Of this amount, $250,000 will be contributed to the American Red Cross for ongoing rescue efforts and for food, shelter and comfort for the storm’s victims. ExxonMobil’s affiliate ExxonMobil Moçambique Limitada will contribute another $50,000 to organizations operating in Mozambique that are assisting the government with disaster relief efforts. “We are deeply saddened by the impact of Cyclone Idai on Mozambique and surrounding countries,” said Darren W. Woods, ExxonMobil chairman and chief executive officer. “The devastation has been widespread, and this funding will help provide relief during a difficult time. Our thoughts are with everyone affected.” ExxonMobil employees and contractors have been reported safe following......

Opec to stay the course as crude inventories remain high, Saudi Energy Minister says
March 19, 2019

Opec+, the alliance undertaking production cuts to rebalance the oil markets, will 'stay the course” on restricting output as supply continued to remain high, according to Saudi Arabia’s Energy Minister.

Saudi-led Opec and producers outside the group, led by Russia, vowed to slash output by 1.2 million barrels per day for six months starting January. The measure was a reaction"...

GPCA announces winners of innovation competition
March 17, 2019

DUBAI — The Gulf Petrochemicals and Chemicals Association (GPCA), the voice of the chemical industry in the Arabian Gulf region, announced the winners of the inaugural edition of the innovation competition, GPCA’s latest initiative aimed at recognizing ingenuity and talent among university students in the Arabian Gulf region.

Winners were awarded at a gala dinner on the sidelines of the 6th GPCA Research and Innovation Summit by Sheikh Mohammed"...

Oil rises to $67 on planned Saudi curbs, Venezuelan export cut
March 13, 2019

LONDON — Oil rose to around $67 a barrel on Tuesday, supported by Saudi Arabia’s plan for further voluntary supply curbs in April and a cut in oil exports from Venezuela due to a power outage.

Brent crude, the global benchmark, rose by 54 cents to $67.12 a barrel at 1125 GMT. US West Texas Intermediate crude added 47 cents to $57.26.

“This shows Saudi Arabia’s resolve to keep the oil market balanced by keeping oil"...

Bids invited for 7 solar projects worth $1.51bn
March 12, 2019

The Renewable Energy Project Development Office (REPDO), under the Ministry of Energy, Industry and Mineral Resources, invited on Monday bids to qualify for seven greenfield solar photovoltaic projects with direct investments worth $1.51 billion.

Implementation of these projects is expected to create employment for more than 4,500 Saudis and power supply to 226,500 households.

The combined generation capacity of these plants amount to 1.51"...

India eyes Saudi investments to bolster crude reserves
March 11, 2019

India is seeking investment from Saudi Arabia to build emergency crude reserves that will act as a buffer against volatility in oil prices and supply disruptions for the third-largest oil consumer.

Saudi’s participation in the Indian Strategic Petroleum Reserve program was discussed at a meeting between the kingdom’s Energy Minister Khalid Al-Falih and his Indian counterpart"...

Saudi says large quantities of gas discovered in Red Sea
March 9, 2019

Saudi Arabia discovered large quantities of gas in the Red Sea, the kingdom's news agency reported, citing energy minister Khalid Al Falih.

Saudi Aramco will conduct an investment feasibility study of the project and accordingly intensify exploration over the next two years, Mr Al Falih said on March 7 during an inspection tour of projects in King Salman International Complex for Maritime"...

Saudi Aramco seeks to overhaul engines and fuel amid electric vehicle hype
March 7, 2019

GENEVA: More efficient fuels and more sophisticated combustion engines are needed to bring down carbon dioxide pollution and to secure the long-term future of Saudi Aramco’s business, the company’s chief technology officer said on Wednesday.
“The growth of transport is greater than the growth of alternative drivetrains,” Ahmad Al-Khowaiter, Chief Technology Officer at Saudi Aramco told journalists at the Geneva car show.
The spike"...