Tag: saudi

Al Fayrouz, a Panama-flagged ro-ro vessel, caught fire on Monday, April 8, while sailing in the Red Sea. As reported by the Saudi Arabian Border Guards, the 101-meter was in international waters, 60 nautical miles off Saudi Arabia’s Farasan Islands, when the incident occurred.

Output cuts in oil-rich Alberta and Saudi Arabia result to leaving heavy-crude refiners from the Gulf of Mexico to Asia in a challenging position. The Saudis are expected to mostly focus on paring output of heavy crude as they lead efforts to rebalance the global market, according to Bloomberg. Although curtailments in Canada have driven local prices at a record in almost a decade, others as Arab Heavy and Heavy Louisiana Sweet are also gaining a powerful position. 

Saudi Arabia informed during the weekend that the oil shipments through the strategic Red Sea shipping lane of Bab al-Mandeb are now continued. Saudi Arabia had imposed a temporary halting of all oil shipments through Bab al-Mandeb, after Houthis rebels attacked two Saudi Very Large Crude Carriers in the Red Sea on July 25.

Saudi Aramco signed a MoU with Gazprom, Russia’s premier gas company, to develop a business portfolio in international upstream gas, allowing the introduction of new vendors and suppliers to the Kingdom’s market.

Oil producer Saudi Aramco has selected Chelsea Technologies Group, to provide benchmark testing for compliance with ballast water standards. This follows Saudi Aramco’s announcement that all ships calling at its ports will be required to provide ballast water samples, in order to demonstrate compliance with the BWM Convention.

Hyundai Heavy Industries, Saudi Aramco and Dussur - the Saudi Arabian Industrial Investments Company - announced the signing of a MoU, to jointly collaborate on engines and pumps business development, in Saudi Arabia. The MoU foresees an engine and pump business cooperation framework, through the formation of a joint venture.

Saudi Aramco has successfully responded to a minor fire incident that occurred at its oil terminal facility in Ras Tanura on September 20.