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saudi arabia

World’s first blue ammonia shipment opens new route to a sustainable future

4 mins read

The FINANCIAL — Aramco and the Institute of Energy Economics, Japan (IEEJ), in partnership with SABIC, have successfully demonstrated the production and shipment of blue ammonia from Saudi Arabia to Japan with support from the Japanese Ministry of Economy, Trade and Industry. Forty tons of high-grade blue ammonia have already been dispatched to Japan for use in zero-carbon power generation. The announcement comes amid growing appreciation of the role hydrogen will play in the global energy system. Ammonia, a compound consisting of three parts hydrogen and one part nitrogen, can contribute to addressing the challenge of meeting the world’s growing…

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World’s first blue ammonia shipment opens new route to a sustainable future

4 mins read

The FINANCIAL — Aramco and the Institute of Energy Economics, Japan (IEEJ), in partnership with SABIC, have successfully demonstrated the production and shipment of blue ammonia from Saudi Arabia to Japan with support from the Japanese Ministry of Economy, Trade and Industry. Forty tons of high-grade blue ammonia have already been dispatched to Japan for…

Oil price down as Trump tests positive for COVID-19

5 mins read

The FINANCIAL — Oil fell by 5% on Friday after Trump tested positive for coronavirus. It was already in negative territory after a bipartisan deal on U.S. stimulus continued to elude House Speaker Nancy Pelosi and the White House, adding to fears about worsening demand without more support for the economy.  However, oil prices are expected to…

Oil prices fell by 30%

6 mins read

The FINANCIAL — Oil prices plunged on Monday by around 30% as Russia on Friday refused to join the Organization of the Petroleum Exporting Countries [OPEC] in a large production cut. Because of that Saudi Arabia launched an aggressive price war. Brent crude futures fell by as much as $14.25, or 31.5%, to $31.02 a…

OPEC Pushes for oil production slash but will Russia agree?

6 mins read

The FINANCIAL — With oil prices down more than 20% since the start of the year as the economic impact of the coronavirus saps oil demand. Oil’s losses came even as OPEC agreed to cut crude output by an extra 1.5 million barrels per day (bpd) in the second quarter. Oil traders fear demand for…

Oil prices are falling again

5 mins read

The FINANCIAL – Oil prices are plunging again. Opec members wanted to bring next week’s Vienna meeting forward to late February, but Russia would not agree. The plunge in oil prices has clobbered energy stocks, which entered a bear market late last month. Oil prices fell for a sixth straight session on Friday and were…