Saudi Aramco outlines plans to become a natural gas power and LNG player with largest shale plays in Middle East
Saudi Arabian Oil Company (Saudi Aramco), the largest oil exporter, plans to increase natural gas output by 60 percent to take advantage of its massive associated gas in oil fields all well as huge shale-gas reserves as Western nations stall new gas production.
Saudis make two large natural gas field discoveries after also entering LNG sector and starting shale gas project
Saudi Energy Minister Prince Abdulaziz bin Salman said Saudi Arabian Oil Co., known as Saudi Aramco, has made two large natural gas field discoveries after recently also entering the LNG sector while additionally starting output in a Saudi shale gas basin called South Ghawar.
Saudi Aramco CEO says worst of oil slump is now over and believes technology will help oil in new era
The Saudi Arabian Oil Company President and Chief Executive Amin Nasser said that “the worst is definitely behind us” for the crude oil market, as global demand is recovering and is currently at 90 million barrels per day.
Oil prices edge higher on expectations of output cuts while LNG still weighed down by excess supply
Oil prices increased more than 3 percent on expectations the leading crude-producing nations would agree to cut output as the coronavirus continues to depress demand while natural gas and LNG prices remained flat, weighed down by excess supplies.
