Aramco ploughs ahead
The jewel in the kingdom's crown is concentrating on downstream joint ventures, as it awaits the IPO go-ahead
High above the Riyadh rooftops, tall cranes form thin fingers of lattice patterns against the colourless early-morning sky. Many of the cranes are starting to move again after a year or more of remaining idle, a signal that the higher global oil prices of recent months have given the Saudi economy a boost. The economic slump meant that some contractors put projects on hold and others went bust. Today, the signs are that the worst of the cash-flow crisis is over. Saudi Arabia is determined to make sure that there's never a return to the dark days when oil was trading at less than $30 a barrel, triggering an economic crisis across the kingdom. It's why Saudi Arabia has been the driving force i
Also in this section
5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
