• 4 minutes Projection Of Experts: Oil Prices Expected To Stay Anchored Around $65-70 Through 2023
  • 7 minutes Oil prices forecast
  • 11 minutes Algorithms Taking Over Oil Fields
  • 14 mintues NIGERIAN CRUDE OIL
  • 8 mins Socialists want to exorcise the O&G demon by 2030
  • 2 hours UK, Stay in EU, Says Tusk
  • 14 hours How Is Greenland Dealing With Climate Change?
  • 1 hour German Carmakers Warning: Hard Brexit Would Be "Fatal"
  • 9 hours Venezuela continues to sink in misery
  • 21 hours BofA Sees Oil at $35-70
  • 22 hours China Car Sales Plummet: Can Musk Unshovel His Groundbreaking?
  • 18 hours Regular Gas dropped to $2.21 per gallon today
  • 1 day How Much Oil Does Aramco Have?
  • 18 hours "Peace Agreement" Russia vs Japan: Control Over Islands Not Up For Discussion
  • 3 hours Orphan Wells
  • 18 hours WSJ: Gun Ownership on Rise in Europe After Terror Attacks, Sexual Assaults
  • 5 hours Solid-State Batteries
Irina Slav

Irina Slav

Irina is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing on the oil and gas industry.

More Info

Trending Discussions

Davos In The Desert Could Yield $50B In Oil & Gas Deals

Saudi Arabian companies could negotiate investment deals worth some US$50 billion in oil, gas, metals, and infrastructure during and after the Future Investment Initiative that opened today in Riyadh, Reuters reports citing an unnamed source.

Of the total, US$30 billion will be deals signed by state energy giant Aramco, Reuters said in an update later in the day.

Despite several high-profile pullouts from the event following the disappearance of Saudi dissident and government critic Jamal Khashoggi, particularly from the banking industry, a lot of energy industry executives did attend the conference, including Total’s CEO Patrick Pouyanne as well as the CEOs of Baker Hughes and Schlumberger, Lorenzo Simonelli and Paal Kibsgaard, and senior representatives of other commodity players, including trading giant Trafigura.

Trafigura, Halliburton, Baker Hughes, and Schlumberger are among the companies expected to seal investment deals with Saudi Arabian businesses, although some of these have already been announced, such as the partnership of Total and Aramco on a multibillion-dollar petrochemical complex in Saudi Arabia.

Bloomberg, meanwhile, quoted its own sources, also unnamed, as saying there will also be deals with Chinese and South Korean companies. The report notes that most of these deals are either already announced ventures or further stages in already existing partnerships with just a few being brand new agreements. What’s more, Bloomberg’s Archana Narayanan and Javier Blas point out that some of the deals, to be signed officially during the three-day event, will only be preliminary agreements—memorandums of understanding—rather than anything binding.

Riyadh is under a lot of pressure amid the media frenzy over the now confirmed killing of Saudi dissident and government critic Jamal Khashoggi, and according to Bloomberg, the spectacular signing ceremonies will be part of efforts to salvage the event, which was initiated by Crown Prince Mohammed bin Salman—the object of much of Khashoggi’s criticism. The affair even caused sparks to fly between Riyadh and Washington with U.S. lawmakers insisting on a stern response to the killing and a Riyadh official promising a proportionate response, before things cooled off.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News