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FINANCIAL NEWS
Saudi Arabia plans to raise oil drilling
30 Oct 2013
(MENAFN) Global energy service giants are banking on a boom in Saudi oil and gas drilling over the next few years to revive profits that are being squeezed by overcapacity in the North American market, Saudi Gazette reported.
Schlumberger, Halliburton and Baker Hughes have all singled out Saudi Arabia as a major growth market for next year as they search the globe for better returns than the saturated US and Canadian markets offer.
Industry sources in the Gulf said at least 160 rigs are currently deployed in Saudi territory and that the world’s top oil exporter plans to raise its rig count to 210 by the end of 2014.
Sources said earlier this year that Aramco was planning a sharp rise in rig use to look for unconventional gas, while increasing oil drilling to help keep its spare production capacity at comfortable levels
Aramco is investing heavily to preserve the world’s largest spare oil production capacity cushion at more than 2 million bpd.
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BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
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BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
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BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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