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Oil and Renewables

Oil and Renewables latest

Shell company building
July 30th, 2026 - 09:20 GMT
P. Choiaqo

P. Choiaqo

Shell records more than double profits as war rages in the Middle East

ALBAWABA - British oil and gas company Shell has seen its profits more than double compared to the same period last year as oil prices surge amid Strait of Hormuz conflict between the U.S. and Iran. The company’s net profit hit $9.84 billion dollars in the second quarter of the year after Brent oil prices jumped from $60 a barrel in January to $114 in early May at the peak ...
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The discovery comes as the United States has been applying a campaign of "maximum pressure" on Iran.
October 14th, 2019 - 11:22 GMT

Iran Discovers Natural Gas Field Worth $40 Billion

Once completed, the city will contribute the annual income of up to SR22 billion to GDP.
October 14th, 2019 - 10:30 GMT

Aramco Aims to Reach 90 Percent Saudization by 2020

The crude oil prices have jumped during September 2019 futures settlement compared with August 2019
October 14th, 2019 - 09:30 GMT

Oman’s Crude Production Exceeds 29 Million Barrels in Sep 2019

The ship's two main storage tanks are said to be damaged
October 13th, 2019 - 06:00 GMT

Explosion in Iranian Tanker off the Saudi Coast

During the signing
October 10th, 2019 - 10:49 GMT

Oman Shell to Commence Exploration Activities in Block 55

In July, Seoul’s crude shipments from the US almost tripled to 14,782 barrels from the year before.
October 10th, 2019 - 07:48 GMT

Saudi Arabia Remains South Korea’s Top Oil Supplier in Absence of Iranian Shipments

Meanwhile, the Organization of the Petroleum Exporting Countries (OPEC) has granted Nigeria a higher oil output target under an OPEC-led supply cut deal.
October 10th, 2019 - 06:57 GMT

Oil Prices Fall Amid No Significant Progress in US-China Trade Talks

Aramco’s regular production of 11.3 million bpd recovered faster than anticipated after the attacks of Sep. 14.
October 9th, 2019 - 10:48 GMT

Saudi Aramco to Produce 12 Million bpd by End of November

The talks stressed the readiness of the GCC armed forces to confront any terrorist threats or attacks, condemning the recent sabotage attacks in the Kingdom.
October 9th, 2019 - 07:57 GMT

Saudi Arabia Reassures World That It Will Fulfill Oil Needs

Aramco came under Yemen’s biggest retaliatory attacks ever on Sept. 11, as a result of which Saudi Arabia lost half of its production capacity.
October 9th, 2019 - 07:38 GMT

Fitch Downgrades Saudi Aramco After Cutting Down the Kingdom's Debt Rating

During the event
October 8th, 2019 - 10:18 GMT

ENOC Group Launches ENOC Link

The purpose of the MoU is to establish and strengthen cooperation in order to carry out activities and share experiences, views, information and best practices in areas of mutual interest.
October 8th, 2019 - 07:39 GMT

OPEC Inks Deal With GECF to Strengthen Cooperation

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