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Brent Back Above $100 as Houthis Hit Saudi Infrastructure
Oil & Fuel OilIndustry news

Brent Back Above $100 as Houthis Hit Saudi Infrastructure

Crude oil prices, which dipped on Tuesday, reversed their direction, with Brent ticking above $100 again earlier today following reports of fresh Houthi attacks on Saudi energy infrastructure. At the time of writing, Brent crude was trading at $101.49 per barrel and West Texas Intermediate was changing hands for $90.14 per barrel, despite a statement from Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, who said Tuesday the kingdom’s oil flows via the Rast-West pipeline had rebounded to 5.8 million barrels daily. The statement…

Helena Marsh

TAIWANONLYLEVERAGETRADE FLOW INSIGHT
Oil & Fuel OilIndustry news

Is Taiwan The Only Leverage The U.S. Has In Getting China To Toe The Line In Ira

There is always a winner in any major global oil crisis. In 1973/74, it was Saudi Arabia and its OPEC brothers who shifted the balance of power in the market away from the previous arrangement dominated by the West’s ‘Seven Sisters’ to the oil producers of the Middle East. After the 2014-2016 Oil Price War, it was the U.S. whose earlier nascent shale oil sector resisted the threat to its very existence from Saudi Arabia and OPEC, reorganising into a meaner, leaner, lower-cost oil production machine. The U.S. was the winner again…

Helena Marsh

Arabian Drilling set to kick off rig ops offshore Oman before quarter-end
EnergyIndustry news

Arabian Drilling set to kick off rig ops offshore Oman before quarter-end

Arabian Drilling, described as Saudi Arabia’s largest onshore and offshore drilling contractor by fleet size, has expanded its footprint in the Gulf Cooperation Council (GCC) with a multi-well assignment off the coast of Oman. The post Arabian Drilling set to kick off rig ops offshore Oman before quarter-end appeared first on Offshore Energy .

Editorial Desk

RSGT And CMA CGM Announce USD 434 Million Initial Investment (SAR 1.6 Billion) To Develop Terminal 4 And Add Up To 2.6 Million TEUs Of Capacity At Jeddah Islamic Port
Shipping & LogisticsIndustry news

RSGT And CMA CGM Announce USD 434 Million Initial Investment (SAR 1.6 Billion) To Develop Terminal 4 And Add Up To 2.6 Million TEUs Of Capacity At Jeddah Islamic Port

Red Sea Gateway Terminal (RSGT), Saudi Arabia’s leading terminal operator, and CMA CGM Group, a global player in sea, land, air and logistics solutions, yesterday signed definitive agreements to jointly develop and operate Terminal 4 at Jeddah Islamic Port, in collaboration with Saudi Ports Authority (Mawani), marking one of the largest foreign direct investments in ...

Editorial Desk