Energy Security

25 Aug 2020

Saudi Arabia: Aramco Reshuffles Its Senior Management and Created a Division Focused on “Portfolio Optimization”

Saudi Aramco reshuffled its senior management and created a division focused on “portfolio optimization” as the world’s biggest oil producer adapts to low crude prices and seeks new ways to obtain cash. Over 98% of the company is owned by the Saudi government and is the main source of reven

20 Aug 2020

The UAE Started the First Nuclear Power Plant In The Arab World

On August 1st, 2020 the UAE announced that started operations in the first of four reactors at the Barakah nuclear power station. This nuclear plant is the first in the Arab world. The Barakah Nuclear Energy Plant is located in the Al Dhafra of the Emirate of Abu Dhabi on the Arabian Gulf. The Pl

10 Aug 2020

Saudi Arabia: Aramco, the Saudi State Oil Group Reported a 73.4 % Fall In Second Quarter Net Profit

On August 8th, 2020 the Saudi state oil group reported a 73.4 % fall in second-quarter net profit, a steeper drop than analysts had forecast. They said that it expected capital expenditure for 2020 to be at the lower end of a $25 billion to $30 billion range. The dividends of the group have a c

09 Jun 2020

Saudi Arabia Urges OPEC+ Members to Realize Oil Production Cut Commitments

On June 8, 2020, Prince Abdul Aziz bin SALMAN the Saudi Energy Minister said the Kingdom is determined to rebalance global oil markets in the wake of the successful meeting of members of the OPEC+ alliance. “First and foremost, our purpose is to ensure the stability of the markets,” he told j

25 May 2020

The First of Five Iranian Oil Tankers Reached Venezuelan Waters Despite US Warning

On May 23, 2020, the first of five tankers carrying Iranian fuel and oil products entered Venezuelan waters. Tareck El AISSAMI, the Venezuelan oil minister wrote on Twitter after the arrival of the first tanker: “The ships of the sister Islamic Republic of Iran are in our exclusive economic zon

12 May 2020

Saudi Arabia: ARAMCO Profits Dive 25 Percent after Oil Price Plunge

On May 12, 2020, ARAMCO the Saudi state's own giant company reported a 25 percent fall in first-quarter net profit, below analyst estimates, after it was hurt by a plunge in crude oil prices as the coronavirus slashed demand. Brent crude prices fell 65 % in the first quarter before the world’s

11 May 2020

Saudi Arabia: The Kingdom Will Triple VAT and Halt Monthly Handout Payments to Citizens

On May 11, 2020, Mohammed al-JADAAN Saudi Arabia finance minister said the kingdom will triple its Value Added Tax and halt monthly handout payments to citizens as part of a series of austerity measures due to coronavirus led economic slump. “It has been decided the cost of living allowance wil

24 Apr 2020

Saudi Arabia is Considering Rerouting Oil Tankers Sailing to the United States

Saudi Arabia is considering rerouting millions of barrels of oil on board tankers sailing to the United States if President Donald Trump decides to block imports of crude from the kingdom. Some 40 million barrels of Saudi oil are on their way to the US and due to arrive in the coming weeks, pilin

23 Apr 2020

ERDOĞAN and PUTIN Discuss Cooperation Against Pandemic over Phone

On April 21, the Turkish President Recep Tayyip ERDOĞAN and Russian counterpart Vladimir PUTIN discussed ways to combat the novel coronavirus in a phone call, and also agreed to continue close bilateral cooperation and regional developments, the Turkish Presidency's Directorate of Communications sa

13 Apr 2020

OPEC+ approves historic oil deal to reduce output by 9.7 million barrels per day for May-June

On April 12, the Organisation of the Petroleum Exporting Countries, Russia, and other oil-producing nations, a group known as OPEC+, agreed to cut output by a record amount, representing around 10 percent of global supply, to support oil prices amid the coronavirus pandemic. OPEC+ agreed to reduc

04/13/2020 4:21 pm -

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Saudi Arabia: Aramco Reshuffles Its Senior Management and Created a Division Focused on “Portfolio Optimization”

The UAE Started the First Nuclear Power Plant In The Arab World

Saudi Arabia: Aramco, the Saudi State Oil Group Reported a 73.4 % Fall In Second Quarter Net Profit

Saudi Arabia Urges OPEC+ Members to Realize Oil Production Cut Commitments

The First of Five Iranian Oil Tankers Reached Venezuelan Waters Despite US Warning

Saudi Arabia: ARAMCO Profits Dive 25 Percent after Oil Price Plunge

Saudi Arabia: The Kingdom Will Triple VAT and Halt Monthly Handout Payments to Citizens

Saudi Arabia is Considering Rerouting Oil Tankers Sailing to the United States

ERDOĞAN and PUTIN Discuss Cooperation Against Pandemic over Phone

OPEC+ approves historic oil deal to reduce output by 9.7 million barrels per day for May-June

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