• 5 minutes Iran Says It Arrested 17 CIA Spies, Some Sentenced To Death
  • 9 minutes Will We Ever See 100$+ OIL?
  • 13 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 25 mins Platts says if Iran's 2 mm bbls exports comes back on market oil goes to $40 . . . What about new Permian pipelines 2.47 mm bbls coming ? . . . WHAT IF BOTH IRAN AND PERMIAN TOTAL 4.47 mm added bbls . . . OMG !
  • 20 hours Iran Loses $130,000,000 Oil Revenue Every Day They Continue Their Games . . . .Opportunity Lost . . . Will Never Get It Back. . . . . LOL .
  • 13 hours Renewables provided only about 4% of total global energy needs in 2018
  • 6 hours Today President Trump Questioned U.S. Policing the Straits of Hormuz for Rich Asian Countries. Allies Britain and Japan were asked to participate. Said NO. US spends $100 Billion/year Protecting Mideast Shipping Lanes!
  • 2 hours Millions of Barrels of Iranian Oil Are Piled Up in China’s Ports
  • 1 hour So You Think We’re Reducing Fossil Fuel? — Think Again
  • 5 hours N.Y. Governor Signs Climate Bill
  • 1 day Berkeley becomes first U.S. city to ban natural gas in new homes
  • 9 hours Oil Giant Saudi Arabia Is Set to Start First Wind-Power Plant
  • 2 hours U.S. Administration Moves To End Asylum Protections For Central Americans
  • 1 day How is E&P of Marginal Oil on the UKCS Similar to the Shale Oil Operations in the US?
  • 9 hours EIA Reports Are Fraudulent : EIA Is Conspiring With Trump To Keep Oil Prices Low
  • 1 day Trump vs. Xi Trade Battle, Running Commentary from Conservative Tree House
U.S. Shale Is Doomed No Matter What They Do

U.S. Shale Is Doomed No Matter What They Do

With financial stress setting in…

China Records Rare Drop In Gasoline Output

China Records Rare Drop In Gasoline Output

China just reported a drop…

Saudi Aramco Looks To Bolster Gas Business Through Joint-Ventures

Aramco Industry

Saudi Arabia’s oil giant Aramco, which has an ambitious plan to grow its natural gas business, is in talks with many partners for a potential joint venture or partnership, in order to grow its international gas position, Saudi Aramco’s chief executive Amin Nasser said on Thursday.

“For the time being we are looking at potential JV or partnership,” Reuters quoted Nasser as saying in Riyadh today.

Aramco has already sold its first liquefied natural gas (LNG) cargo from Singapore, the firm’s chief executive added. 

In January this year, Nasser told Reuters in an interview that the oil firm was looking to spend billions of U.S. dollars on natural gas acquisitions in the United States as part of Aramco’s strategy to bolster its gas business and become a global natural gas player.

At the end of February, Nasser said that Saudi Arabia aims to export as much as 3 billion cubic feet of gas per day by 2030 as part of its goal to boost the international footprint of its natural gas business.

Aramco will solely develop Saudi Arabia’s conventional and unconventional gas reserves, and the options for exports include exports via pipelines and LNG, according to Aramco’s top manager.

In November 2018, Nasser said that Aramco, already a top global oil producer but not as strong in gas production, will boost efforts to grow its natural gas output, from both conventional and unconventional reserves.

Saudi Aramco’s gas development program is expected to attract as much as US$150 billion in investments over the next decade, Nasser said. Natural gas production is expected to jump to 23 billion standard cubic feet a day from the current 14 billion cubic feet a day, Aramco’s top executive said in Dubai a few months ago.

“We also have world-class unconventional gas resources that are rapidly supplementing our large conventional resources. Because a significant proportion of this unconventional gas is rich in both liquids and ethane, its production will play an important role in the further growth of the Kingdom’s chemicals sector,” Nasser said.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play