Saudi Aramco

Saudi Aramco Confirms Data Leak amid Cyber Ransom Reports

Saudi Aramco confirmed on Wednesday that a “limited amount” of its company data held by third-party contractors was recently leaked amid reports that an unidentified extortionist is holding a terabyte of the Saudi Arabian oil giant’s data hostage and demanding a $50 million ransom for its deletion, the Associated Press (AP) reported.

Amin Nasser, president and chief executive officer of Saudi Aramco, speaks during the fourth edition of the Future Investment Initiative (FII) conference at the capital Riyadh's Ritz-Carlton hotel on January 27, 2021. - Saudi Arabia opened a two-day Davos-style investment forum, with dozens of global policy makers and business tycoons …

Saudis Planning $10B Investment in Texas

Saudi oil executives inked multi-billion dollar deals with companies to explore building petrochemical facilities along the Texas Gulf Coast. Essentially, they hope to capitalize on the U.S. oil and gas boom, largely fueled by shale drilling in the Permian Basin.

The Associated Press

Saudi Arabia Wages Oil Price War on Iran

Talk of a production cap to stabilize oil prices seems like a distant memory now, as Iran continues ramping up post-sanctions production and Saudi Arabia cuts oil prices to Europe to compete.

Oil derricks are silhouetted against the rising sun at an oilfield in the Baku October 16, 2005. Saudi Oil Minister Ali al-Naimi said on Sunday that the rise in oil prices to a record high had been determined by market forces. REUTERS/DAVID MDZINARISHVILI

Saudi Arabia: Increase in Supply of Saudi Oil Will Raise Prices

It seems like only yesterday that the great hope of the oil market was that oil-producing nations, both inside and outside OPEC, would come together and cap production to bring prices back up. Now the chief executive of the Saudi national oil company says it will increase production, but he expects prices to start rising anyway.

Oil derricks are silhouetted against the rising sun at an oilfield in the Baku October 16, 2005. Saudi Oil Minister Ali al-Naimi said on Sunday that the rise in oil prices to a record high had been determined by market forces. REUTERS/DAVID MDZINARISHVILI

Saudi Arabia Has World’s Worst Negative Cash Flow

Saudi Arabia is still rich, but they are burning through their foreign reserve cash at a record pace due to lower oil prices and an unwillingness to cut the domestic spending that ensures the survival of the royal family. With the nation hemorrhaging cash, Saudi Arabia’s total foreign reserves fell by 5 percent, or $36 billion in just the last two months.

King-Salman_AP