Friday, April 4, 2025
Saudi Arabia looks to invest in mining assets to secure critical minerals- oil and gas 360

Saudi Arabia looks to invest in mining assets to secure critical minerals

Oil Price Saudi Arabian Mining Company (Ma’aden) has signed an agreement with the Saudi sovereign wealth fund, the Public Investment Fund, to set up a joint company that will invest in mining assets abroad to secure strategic minerals. Under the joint venture agreement, Ma’aden will own 51% of the new company, while the Public Investment Fund (PIF) will own the

Saudi Arabia makes more unconventional gas discoveries- oil and gas 360

Saudi Arabia makes more unconventional gas discoveries

Oil Price Saudi Arabia’s oil giant Aramco has discovered two unconventional natural gas fields in the eastern part of the country, Energy Minister Prince Abdulaziz bin Salman said on Wednesday.   The Awtad unconventional gas field has been discovered southwest of the giant Ghawar field, and the AlDahna unconventional gas field has been discovered 230 kilometers (143 miles) southwest of Dhahran, the

Iran claims oil, petrochem exports hit highest since 2018- oil and gas 360

Iran claims oil, petrochem exports hit highest since 2018

Oil Price Iran’s exports of crude oil, condensates, and petrochemical products hit their highest level in the Iranian month of November since 2018, when the U.S. reimposed sanctions on the Islamic Republic’s oil industry, Petroleum Minister Javad Owji said. “Iran’s oil industry is currently at the forefront of the economic war and the highest sanctions have been imposed on the industry,”

Saudi Arabia eyes OPEC+ production increase - WSJ- oil and gas 360

Saudi Arabia eyes OPEC+ production increase – WSJ

Investing Saudi Arabia and other OPEC oil producers are discussing an output increase, the Wall Street Journal reported on Monday, citing unidentified delegates within the group.   An increase of up to 500,000 barrels per day is now under discussion for OPEC+’s Dec. 4 meeting, the report said. Oil prices, which were already down on the day, fell more than

Saudi wealth fund weighs IPO of $5 billion driller- oil and gas 360

Saudi wealth fund weighs IPO of $5 billion driller

World Oil (Bloomberg) — Saudi Arabia’s wealth fund is considering an initial public offering of oil and gas driller ADES International Holding by the first half of next year, as it accelerates efforts to raise billions of dollars for new investments, people familiar with the matter said.   The Public Investment Fund is looking to hire investment banks for a

Traders clamor for Middle East oil amid Russia uncertainty- oil and gas 360

Traders clamor for Middle East oil amid Russia uncertainty

World Oil (Bloomberg) – Many of the world’s oil refineries are rushing to try and guarantee supplies of Middle East crude for next year, fearful of what’s to become of Russia’s giant export program.   In under a month, almost all companies in the European Union will be barred from purchasing seaborne cargoes from Russia — an attempt by the

UAE believes the oil industry is in “Decline Mode”- oil and gas 360

UAE believes the oil industry is in “Decline Mode”

Oil Price Crude oil is in “decline mode” in the long term, OPEC heavyweight the United Arab Emirates (UAE) says.   “To assume oil is going to be there forever is wishful thinking,” the UAE’s Energy Minister Suhail Al-Mazrouei said at the ADIPEC energy conference, as carried by Bloomberg. “No matter how much we defend it, it’s in decline mode,” said

The U.S. and UAE sign a $100 billion clean energy pact- oil and gas 360

The U.S. and UAE sign a $100 billion clean energy pact

Oil Price The United States and the United Arab Emirates (UEA) signed on Tuesday a partnership expected to attract $100 billion in investment in clean energy projects worldwide, the White House said today.   The U.S. and the UAE have signed the U.S.-UAE Partnership for Accelerating Clean Energy (PACE), set to catalyze $100 billion in financing, investment, and other support for clean

Saudi wealth fund teases the sale of its $85-billion Aramco stake- oil and gas 360

Saudi wealth fund teases the sale of its $85-billion Aramco stake

Oil Price The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, could soon have an announcement about a possible sale of part of its 4% stake in Saudi Aramco, which is currently worth around $85 billion, the governor of the fund, Yasir Al-Rumayyan, told Bloomberg in an interview on Tuesday. Al-Rumayyan said that investors and analysts should “stay tuned” for news

Qatar energy chief says oil and gas trade should be depoliticized- oil and gas 360

Qatar energy chief says oil and gas trade should be depoliticized

Nasdaq Saad al-Kaabi, the head of Qatar’s state-run energy company, said on Monday all oil and gas trade should be depoliticized, calling for policies to move away from sanctions and anti-free market agreements. The comments by Kaabi, who is also Qatar’s minister of state for energy, come ahead of a Gas Exporting Countries Forum (GECF) meeting in Egypt and echo

Oil steadies as rate hike talk offsets China demand hopes- oil and gas 360

Oil steadies as rate hike talk offsets China demand hopes

US News LONDON – Oil prices rose on Friday in choppy trade as hopes of stronger Chinese demand and output cuts by OPEC and its allies offset concern about a global economic downturn and the impact of interest rate rises on fuel use.   To fight inflation, the U.S. Federal Reserve is trying to slow the economy and will keep

Analysis: Saudi oil power play bruises U.S. ties but won't break them- oil and gas 360

Analysis: Saudi oil power play bruises U.S. ties but won’t break them

US Money RIYADH – Neither side is backing down in a battle of wills over oil between Saudi Arabia’s Crown Prince and U.S. President Joe Biden, putting severe strain on their countries’ energy-for-security alliance, although a full rupture looks unlikely, Gulf sources and experts said.   As de facto leader of the OPEC+ oil group, Saudi Arabia risked U.S. wrath