Faisal Faeq

Faisal Faeq is an energy and oil marketing adviser. He was formerly with OPEC and Saudi Aramco. Twitter:@faisalfaeq

Latest published

Aramco chair appointment part of wider economic reforms

The appointment of Yasser Al-Rumayyan as chairman of Saudi Aramco triggered some speculation about his oil credentials and whether he was the right man for the job. Let’s lay that view to rest.

September 11, 2019

Ministry for industry and mineral resources makes sense

Saudi Arabia created a new ministry for industry and mineral resources, separating it from energy, after a study of the Kingdom’s rapidly changing economic base.

September 04, 2019

Focus first on diversification, then on disclosure

Oil prices may have softened in the second quarter of 2019, but Saudi Aramco’s recently published results show that it is still the most profitable company in the world.

August 28, 2019

Drones fail to dent Saudi output as Asia shuns Iranian crude

Within less than three months, Saudi Aramco oil and gas facilities have been attacked with drones launched by Yemen’s Houthi militias that are supported by Tehran. 

August 23, 2019

Aramco continues diversification with Reliance deal

Saudi Aramco’s panned multi-billion dollar investment in India’s Reliance Industries is another major diversification move for the world’s most profitable company.

August 14, 2019

From Tehran to Tripoli, Turkey is at the heart of illicit crude trade

Turkey has long led the way in the smuggling of crude oil. That is why it was no surprise when the latest export data based on ship tracking showed that Ankara imported half of the sanctioned Iranian crude oil in June — the remainder going to China.

August 03, 2019

Higher Saudi fuel prices are a small price to pay for reform

Saudi Aramco increased the retail price of gasoline for the third quarter of 2019 at the weekend.

The local price for Octane 91 gasoline was raised slightly to SR1.53 per liter and the Octane 95 was raised to SR2.18 per liter. 

July 19, 2019

A challenging 2019 second half awaits OPEC+

Even if OPEC+ has a highly probable rollover of 1.2 million barrels per day (bpd) output cuts for the second half of 2019, as agreed at the G20 Summit by Saudi Arabia and Russia, the next six months will still be challenging. 

June 30, 2019