Posts in Saudi Arabia
- For oil watchers, one of the biggest stories of the year, or maybe decade, has been the proposal to privatise five percent of Saudi Aramco, the world’s largest oil company. Reuters broke news on Wednesday that the high-profile Initial Public Offering (IPO) has been shelved, and the advisory teams disbanded. The Saudi government has said...
Continue reading 'Saudi Aramco – the Climate Story'.
- If you read the news yesterday you would be forgiven for missing something momentous. When the definitive book about the oil age is finally written, yesterday will be marked as significant.
- Why part-privatizing state oil company Aramco is a bad idea for the Saudi economy and for the global climate
- The US could soon replace Saudi Arabia as the world’s leading oil producer, just as the Saudis promise to go green
- New documents released by Wikileaks reveal that for over three years the Americans have been worried that Saudi Arabia may have overstated its reserves by 40 per cent or some 300bn barrels. The fact that Saudi Arabia may be overstating its reserves its nothing new, but many consider it the elephant in the room for...
Continue reading 'Saudi Arabia’s “Inconvenient Truth”'.
- Change may only happen in small steps, but slowly and surely the geo-politics of oil are changing. The dynamics of Middle Eastern oil are in transition. Anyone who argued that the war in the Gulf was a war about oil should sit up and take notice. And anyone concerned about the climate should also be...
Continue reading 'Shifting Geo-Politics not Good for the Climate'.
- It was inevitable that some sections of the Canadian press would defend tar sands, but the arguments they are using are fundamentally flawed. In an editorial entitled “’Dirty oil’ beats bloody oil” today, the Calgary Herald tries to hit back at recent moves (see blog here) that highlight the financial risks of oil sands. The...
Continue reading 'The Flawed Defence of “Dirty Oil”'.
- Under huge political pressure, Saudi Arabia will raise oil production to record levels by pumping an extra half-a-million barrels of oil a day, bringing their production to 9.7 million barrels a day. That would be a rise of 550,000 bpd or over 6 percent since May and would take Saudi crude output to its highest...
Continue reading 'Pumping more oil is the wrong solution…'.
- U.S. Energy Secretary Sam Bodman has pleaded with Saudi Arabia for more oil, undeterred by OPEC’s cautious response to Washington’s request so far. Bodman told reporters in Abu Dhabi there were short-term concerns about the performance of the U.S. economy and he was hopeful Riyadh would steer a decision to increase oil supplies at OPEC’s...
Continue reading 'US Pleads for More Oil'.
- Saudi Arabia says it has arrested 208 militants for involvement in cells planning an imminent attack on an oil installation, as well as attacks on clerics and security forces. State television in the world’s biggest oil exporter said one of the cells was planning to smuggle in missiles. Al Qaeda sympathizers have mounted a campaign...
Continue reading 'Saudi Holds 200 Over Foiled Oil Attack'.
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