Forced away from the Strait of Hormuz in the Persian Gulf, the Saudis turned to the Red Sea. Now they are relying on a less dangerous but more complicated detour via the Suez Canal.
Category: Saudi Aramco
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Under Threat, Saudi Arabia Reroutes Oil Exports Yet Again
The New York Times – Business: -
Gulf Oil Giants Push to Expand Overseas Stockpiles as Iran War Drags On
The New York Times – Business:Saudi Arabia and the United Arab Emirates are seeking larger oil reserves in Japan and South Korea as regional conflict threatens supply routes.
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Gulf Oil Giants Are Spending Billions to Build Ways Around Strait of Hormuz
The New York Times – Business:Even if a cease-fire materializes, Gulf exporters recognize that relying strictly on the Strait of Hormuz is a risk they can no longer take.
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Oil Giant Saudi Aramco Reports 33% Profit Surge, Despite Iran War Disruptions
The New York Times – Business:Higher oil prices propelled a quarterly earnings jump for Saudi Arabia’s energy giant, which used pipelines to work around disruptions in the Strait of Hormuz.
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Saudi Aramco Reports 33% Profit Surge Despite War’s Disruption
The New York Times – Business:Higher oil prices propelled a quarterly earnings jump for Saudi Arabia’s energy giant, which used pipelines to work around disruptions in the Strait of Hormuz.
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Lesson Learned From Iran War: Reduce Reliance on Strait of Hormuz
The New York Times – Business:Increased stockpiles, more pipelines and other tactics could loosen the waterway’s stranglehold on the global economy.
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Mines, Logistics and Deep Uncertainty Threaten a Middle East Oil Rebound
The New York Times – Business:More oil is getting out of the Persian Gulf, but the region’s producers are looking for signs that it is safe as they ramp up plans for alternative routes.
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For Western Oil Companies, War in Iran Means Bigger Profits, and Risks
The New York Times – Business:American and European oil and gas companies are expected to earn a lot more as prices surge but are worried about the future.
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The C.E.O.s Who Came to Dinner (With the Saudi Crown Prince)
The presence of business leaders at a White House event for Crown Prince Mohammed bin Salman underscores a deepening of U.S. and Saudi ties.
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Saudi Arabia, Rich With Oil, Wants to Be Known as the A.I. Exporter
The kingdom is pouring money into data centers and working with U.S. and Chinese tech giants, landing its A.I. ambitions in the middle of a geopolitical tussle for tech power.
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As Interest in Clean Energy Grows, Saudi Arabia Eyes a Future Beyond Oil
The kingdom is trying to juggle its still-vital petroleum industry with alternative energy sources like wind and solar as it faces pressure to lower carbon emissions.
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OPEC to Extend Oil Production Cuts Through June
Saudi Arabia’s announcement appears to be aimed at bolstering oil prices as growth in demand remains modest.