The kingdom’s oil minister Ali Al Naimi stresses that Saudi Arabia maintained spare production capacity to meet any emergency shortage in supplies and to satisfy demand

SAUDI Arabian oil minister Ali Naimi says the kingdom can raise its crude oil production by 2 million barrels per day (mbpd) almost immediately and describes as “disturbing” Iranian threats that have roiled oil markets.

The company saw a 10 per cent drop in Q4 profits as it felt the impact of lower prices globally. Sabic made a net profit of $1.40 billion for the three months to end December

SAUDI Basic Industries Corp (Sabic) says it had an “excellent” 2011 and forecasts further strength for the petrochemical sector next year, its chief executive says.

The decision to change the fixed domestic gas price lies with the most senior members of the Saudi leadership. The firm has sought for a change in gas price in recent years

SAUDI Arabia will not be able to develop the known gas resources in the Rub Al Khali desert until the government raises the domestic gas price, according to Saudi Aramco president Khalid Al Falih.

The interest comes at a good time as international banks struggle with mounting global economic fears as well as their own balance-sheet woes, making lending less attractive

PROJECT Islamic bonds are expected to pick up steam in Saudi Arabia with the launch of the first project sukuk this month as issuers seek to diversify sources of funding following global financial woes that may dry up lending from international banks.

The state oil company is planning to develop its shale gas resources in the future and drill a number of wells this year to test the geology of the wells

SAUDI Arabia is focusing on developing its conventional gas reserves and expanding its downstream refining and chemicals industries rather than invest in expanding oil production.

Riyadh is unlikely to loosen its grip on the wells that pump around 10 mbpd of crude at very low cost

SAUDI Arabia is unlikely to reverse its decades-old policy of prohibiting foreign involvement in oil exploration and production (E&P), despite a plea from China for the world’s leading crude exporter to open up.

Sources in Saudi Arabia say stiff competition and an uncertain outlook in the petrochemicals sector could be behind Sumitomo’s sluggish decision making

SUMITOMO and state-run oil giant Saudi Aramco said when they signed the agreement in 2009 to expand the PetroRabigh plant in Saudi Arabia, the feasibility study would be completed by the third quarter of 2010.

Al Falih says the gas will be used to meet power generation needs

SAUDI Aramco has made multiple, but small, gas discoveries in the northwest of the kingdom as a result of its recent gas exploration activities far outside the oil-rich Eastern Province, Aramco president Khalid Al Falih says.

Dohat Al Andalus offers a wide variety of aerial platform machines and spare parts in Saudi Arabia

IF YOU are looking for a brute of a machine, a platform for multiple workmen and/or a material lift, spare parts for your man lift, your solution can be found at Dohat Al Andalus.

Al Suwaiket and Al Busaies is the first legal company to provide comprehensive legal services in Al Khobar

THE rapid growth of Saudi Arabia’s economy and the diverse activities carried out by both the government and the private sector has necessitated the establishment of specialised competent legal firms in Saudi Arabia.

Hydratight’s most recent collaboration has been with a major UK diving company to offer detailed subsea bolting training to professional divers

HYDRATIGHT, which began as a relatively small engineering company in the UK over 30 years ago, has over the past decade grown into an award-winning, globally-based, leading authority on the subject of bolted joint integrity.

The leading supplier of protective coatings has centralised its global oil and gas activities in Houston, US by creating a Global Centre of Excellence

HEMPEL has centralised its global oil and gas activities in Houston, Texas, and launched global oil and gas centre of excellence.

Saudi Arabia used 49 rigs in January, compared with 48 in December and 23 a year earlier, says Baker Hughes, the world’s third- largest oilfield-services provider

SAUDI Arabia is deploying the most oil rigs in four years as it prepares for possible shortages caused by tension with Iran. The number of rigs used in the desert kingdom more than doubled in January from a year earlier, the biggest annual increase on record, data from Houston-based Baker Hughes shows. As much as 1 million barrels per day (mbpd) of Iranian crude exports may be lost as the US and Europe tightened sanctions against President Mahmoud Ahmadinejad’s government over its nuclear programme, the International Energy Agency says.

In the second phase at Rub Al Khali, the joint venture which is 80 per cent owned by Sinopec and 20 per cent by Aramco, is expected to drill only one well

SINO Saudi Gas Ltd plans to drill again in Saudi Arabia’s Empty Quarter in September but gas prices are still too low for companies exploring there, the chief executive of Saudi Aramco says.

Extensive research and development has taken place at Bohler Schweisstechnik in Germany to arrive at a full consumable range for the new generation of CrMo(V) steels

HIGH temperature resistant and hydrogen resisting CrMo (V) steels have been around for a very long time and have found use with great success for applications in the petrochemical and the power generation industry, respectively.

Leading fibre optic cables manufacturer MEFC is now eyeing newer markets like Eurasia for growth

HAVING captured more than 60 per cent market share in the Middle East, Saudi Arabia based Middle East Fibre Cable Manufacturing (MEFC) is now eyeing newer markets like the Eurasia and the rest of the Gulf.

AYTB is also a leading management, construction and fabrication contractor for medium sized projects in Saudi Arabia and Qatar. AYTB’s capabilities include prefabrication of process modules for furnaces, heaters, radiant and convention coils

AYTB (Al Yusr Townsend and Bottum Company) has been an integral part of the industrial landscape of Saudi Arabia for more than 30 years providing single source responsibility for a diversified range of specialist engineering, contracting and logistical support services to the petrochemical, oil and gas and industrial sectors of the kingdom.

Shell believes it can do more of GTL projects at many places in the world that are suitable for it. If not in the Middle East, it will continue to look globally for such opportunities, GERALD SCHOTMAN, Shell chief technology officer tells K S SREEKUMAR

WITH global energy demand expected to double by 2050, Shell sees itself as a major contributor to meeting it, placing top priority on partnerships and innovation to find the way forward.

Saudi Aramco has estimates of its tight and shale gas reserves but has not yet booked recoverable reserves until it completes an assessment of its natural gas

SAUDI Aramco’s sustainable production capacity will rise to 12.9 million barrels per day (mbpd) once the Manifa heavy oil field development is completed, but the state-owned giant intends to relax production from some of its older reservoirs to achieve maximum recovery rates, CEO Khalid Al Falih says.

Aramco is estimated to produce around 24 million tpy of LPG at an average production rate of 9.4-9.5 mbpd

SAUDI Aramco’s LPG output for 2012 is set to rise from 2011 as the Middle Eastern oil giant increases crude production, a source with knowledge of the company’s plans says.

Jotun Paints’ expertise in marine protection and powder coatings has led to the development of an extensive range of products for protection in some of the world’s most demanding environments, particularly off shore oil exploration

THE oil and gas industry of Saudi Arabia remains a vibrant and steady resource for oil. In fact, the country maintains strong confidence in its ability to produce that it has recently embarked on what is called an ‘oil exploration push,’ which is predicted to bring in 100 billion barrels of new oil coming from existing fields in the kingdom.

Despite alternative energy, the future of oil and gas continues to be bright as fossil fuels will still be supplying some 60 to 65 per cent of global energy in 2050, Matthias Bichsel director, Shell Projects and Technology tells PUMMY KAUL

TECHNOLOGY is the key enabler for Shell’s exploration, development and production strategy. Not surprisingly then, over the past five years Shell has invested well over $5 billion in research and development (R&D), which is actually the most compared with any of its international oil company peers.