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Saudi Aramco Says to Update Gasoline Prices on Monthly Basis

Saudi Aramco Says to Update Gasoline Prices on Monthly Basis
    Asharq Al-Awsat
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Saudi Aramco Says to Update Gasoline Prices on Monthly Basis

Saudi Aramco Says to Update Gasoline Prices on Monthly Basis

Saudi Aramco announced the updated gasoline prices in Saudi Arabia starting Sunday. Gasoline 91 will be sold at SAR 1.55 per liter, while gasoline 95 will be priced at SAR 2.11 per liter.

From now on, domestic gasoline prices will be monthly updated on the 10th day of every month.

The new prices will come into effect on the following day.

It also said that local prices of gasoline are subject to change due to changes in export prices from the Kingdom to international markets

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ExxonMobil Launches 'Promising' Exploration Well Off Cyprus

The Wolf Moon is shown over the capital Nicosia in the southeast island of Cyprus, Wednesday, Jan. 15, 2025. (AP Photo/Petros Karadjias)
The Wolf Moon is shown over the capital Nicosia in the southeast island of Cyprus, Wednesday, Jan. 15, 2025. (AP Photo/Petros Karadjias)
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ExxonMobil Launches 'Promising' Exploration Well Off Cyprus

The Wolf Moon is shown over the capital Nicosia in the southeast island of Cyprus, Wednesday, Jan. 15, 2025. (AP Photo/Petros Karadjias)
The Wolf Moon is shown over the capital Nicosia in the southeast island of Cyprus, Wednesday, Jan. 15, 2025. (AP Photo/Petros Karadjias)

ExxonMobil and Qatar Energy on Friday began exploratory drilling for natural gas in a prospect west of Cyprus, Cyprus President Nikos Christodoulides said on X.
The east Mediterranean has yielded some major gas discoveries in recent years, and a disruption in energy supplies from Russia after its 2022 invasion of Ukraine has sharpened Europe's attention on securing alternative sources of supply.
"Cyprus progresses exploration activities, aiming to be an alternative and reliable source of natural gas for the EU," Christodoulides wrote in his post.
According to Reuters, he said drilling at the prospect, named Electra, got underway on Friday morning.
ExxonMobil executives have previously described Electra as 'highly promising'.
The company secured hydrocarbon exploration licenses for Cyprus in 2017. Other multinationals in the region include US's Chevron (CVX.N), opens new tab, Italy's Eni (ENI.MI), opens new tab and France's TotalEnergies (TTEF.PA).
Cyprus has made modest finds offshore compared to sizeable discoveries by neighbors Egypt and Israel. It has not yet put any gas into production.
The Mediterranean island nation is divided with the internationally-recognized government in the south and a breakaway Türkiye-backed administration in the north.
Cyprus's drilling activities are being closely monitored by Ankara, a Turkish defense ministry official said. The area being drilled lies outside continental shelf boundaries declared by Türkiye, they added.
Cyprus and Türkiye do not have diplomatic relations, and past exploration efforts have exposed disputes and overlapping claims.