Aramco CEO Warns Of Global Oil Crunch Due To Lack Of Investment

DAVOS – The world is facing a major oil supply crunch as most companies are afraid to invest in the sector as they face green energy pressures, the head of Saudi Aramco told Reuters, adding it cannot expand production capacity any faster than promised. Amin Nasser, head of the world’s largest oil producer, said on … More Aramco CEO Warns Of Global Oil Crunch Due To Lack Of Investment

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Saudi Aramco Storage Facility Targeted By Houthi Attack, Causing Fire

RIYADH, Saudi Arabia – Yemen’s Houthis said they launched attacks on Saudi energy facilities on Friday and the Saudi – led coalition said oil giant Aramco’s petroleum products distribution station in Jeddah was hit, causing a fire in two storage tanks but no causalities. A huge plume of black smoke could be seen rising over … More Saudi Aramco Storage Facility Targeted By Houthi Attack, Causing Fire

Aston Martin F1 Team Sign Long – Term Deal With Saudi’s Aramco

PARIS, Francis – Aston Martin have signed a long – term partnership with Saudi Arabian oil company Aramco, the Formula One team said on Thursday, in a move it hopes will aid its ambition of fighting at the front of the grid. Aramco, already a major Formula One sponsor whose branding appears on trackside signage, … More Aston Martin F1 Team Sign Long – Term Deal With Saudi’s Aramco

China’s Boasteel, Aramco Ink Pact On Saudi Steel Plate Factory

Milan / Italy – – Boashan & Steel Co Ltd (Boasteel), China;s biggest listed steelmaker, said on Wednesday it had signed an initial pact with the world’s top crude oil producer Saudi Aramco to study building a steel plate factory in Saudi Arabia. The nonbinding memorandum of understanding was one of a number of agreements … More China’s Boasteel, Aramco Ink Pact On Saudi Steel Plate Factory

Yemen’s Houthi Group Says It Has Attacked Aramco Facilities

Paris / France – Yemen’s Houthi group attacked oil facilities belonging to Saudi Aramco in Ras Tanura, in the east of the kingdom, and other locations including Jeddah, on the Red Sea Coast, a military spokesman for the Iran aligned group said on Sunday. The Group said it attacked the facilities with drones and ballistic … More Yemen’s Houthi Group Says It Has Attacked Aramco Facilities

Saudi Aramco Q2 Profit Soars On Higher Prices, Demand Recovery

Saudi Arabian state oil producer Aramco reported a near four – fold rise in second – quarter net profit on Sunday, beating expectations and boosted by higher oil prices and a recovery in oil demand. Aramco said its results were supported by the global easing of COVID – 19 restrictions, vaccination campaign, stimulus measures and … More Saudi Aramco Q2 Profit Soars On Higher Prices, Demand Recovery