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Restoring the operation of the Yanbu South Terminal in Saudi Arabia, represented by a tank farm for receiving, storing and loading Arab light and super-light oil, strengthens the role of Saudi Aramco as a reliable supplier of energy resources in the world, a press release from the national oil company of Saudi Arabia stated. Thanks to the resumption of the terminal’s operation, its export capacity increased by 3 million barrels per day. This will contribute to the main task of Saudi Aramco – to become the leading manufacturer of integrated energy resources in the world.
June had seen Japan’s exports recording a double-digit decline for four consecutive months. This suggests that the novel coronavirus pandemic tipped the world’s third-largest economy into its sharpest postwar slump, highlighting ...
The inactivity in Chinese exports likely eased in June as several countries resumed their economic operations. Meanwhile, imports declined milder on higher crude oil and commodities purchases, a Reuters survey showed on Monday. Economists ...
Oil futures gained on Tuesday, lifted by Saudi Arabia’s deeper production cuts to buoy prices amid the supply glut and weak demand. Brent crude futures rose 0.8%, or 24 cents, at $29.87 per barrel. U.S. West Texas Intermediate crude ...
U.S. President Donald Trump announced that his administration was considering halting crude oil shipments from Saudi Arabia to help the local drilling industry. At a daily news conference, Trump said that his administration will “look ...
Despite having a strong financial condition with low debt obligations, the Kingdom of Saudi is still struggling from the current worldwide crisis according to its Finance Minister Mohammed Al-Jadaan on Friday. Al-Jadaan said the priorities ...
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