by Asharq Al-Awsat English | Sep 5, 2016 | Business
Crude oil futures pared gains on Monday after the world’s two biggest oil producers Saudi Arabia and Russia said Monday they had agreed to “act together” to try to stabilize oil prices, including limiting output. Brent crude futures for November...
by Asharq Al-Awsat | Oct 27, 2013 | Business
San Francisco/Khobar, Reuters—Global energy service giants are banking on a boom in Saudi oil and gas drilling over the next few years to revive profits that are being squeezed by overcapacity in the North American market. Schlumberger, Halliburton and Baker Hughes...
by Asharq Al-Awsat | Oct 14, 2013 | Business
Daegu, Reuters—OPEC heavyweight Saudi Arabia is preparing to be among the first countries outside North America to use shale gas for power generation and thereby save more of its crude oil for lucrative exports. Inspired by a shale gas boom in the United States, which...
by Asharq Al-Awsat | Oct 13, 2013 | Business
Daegu, Reuters—The world’s largest oil exporter, Saudi Aramco, will increase light sour crude output from two fields—Shaybah and Khurais—by 550,000 barrels per day (bpd) in 2016-2017, to rebalance its crude quality and extend the lifespan of mature fields. The...
