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.
Category: Saudi Aramco
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Oil Giant Saudi Aramco Reports 33% Profit Surge, Despite Iran War Disruptions
The New York Times – Business: -
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.
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Saudi Aramco Abruptly Drops Plans to Expand Oil Production
The pullback, at the behest of the Saudi government and made with little comment, probably reflects a more subdued outlook for demand of Saudi Arabia’s oil.
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Tensions Rise at the COP28 Climate Summit
Dismissive comments by the president of the climate gathering raise questions about the host country’s commitment to addressing rising global temperatures.
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In a Shaky Oil Market, OPEC Has Bitter Decisions to Make
Anticipating a drop in demand for 2024, major producers, led by Saudi Arabia, are trying to reduce supply.