Special to WorldTribune.com LONDON — Saudi Arabia has revised its energy strategy. A leading Western consultant asserted that Saudi Arabia was moving away from crude oil toward other resources, particularly natural gas development. Barclays said Saudi Aramco was exploring opportunities in nuclear and solar energy in an effort to increase power generation. “Aramco is advancing […]
Special to WorldTribune.com ABU DHABI — Saudi Arabia has reported record oil production. The state-owned Saudi Aramco said crude oil production reached 3.47 billion barrels in 2012. Aramco said the figure, which amounted to more than 9.1 million barrels per day, marked the highest production in its history. “Demand for oil and gas products is […]
Special to WorldTribune.com ABU DHABI — Saudi Arabia has ordered a record number of rigs for energy exploration in 2013. Industry sources said the state-owned Saudi Aramco would acquire and operate more than 170 rigs for natural gas exploration in the Gulf Cooperation Council kingdom. The sources said Aramco has ordered additional rigs to maintain […]
Special to WorldTribune.com ABU DHABI — Saudi Arabia intends to begin shale energy production. The state-owned Saudi Aramco said it would produce natural gas from shale by 2020. Aramco said it was preparing up to five rigs for shale drilling throughout the Gulf Cooperation Council kingdom. “We are in the reconnaissance phase, shooting regional seismic […]
Special to WorldTribune.com ABU DHABI — China, which has also signed a nuclear cooperation accord with Riyad, will play a key role in Saudi Aramco’s oil refinery plans. Aramco and China’s Sinopec Group have signed a $10 billion refinery agreement to develop the 400,000 barrel per day refinery in Yanbu on the Red Sea coast. […]
Special to WorldTribune.com ABU DHABI — Saudi Arabia intends to significantly increase its oil refining capacity. The state-owned Saudi Aramco plans to raise domestic refining capacity by more than 50 percent over the next five years. Aramco said the current refining capacity of 2.26 million barrels per day would increase to 3.5 million by 2016. […]