Saudis state-run oil giant Saudi Aramco signed a contract with state-run Japan Oil, Gas and Metals National Corp (JOGMEC) that would allow the Saudi company to store crude oil in Japan from February 2011 onwards.
Iraq and Jordan have agreed in principle on building a pipeline between both countries to supply Amman with crude oil for the coming decades, officials announced after a visit to Iraq by Jordans prime minister, Samir Rifai.
Tenaris recently inaugurated its first plant in Saudi Arabia, Tenaris Saudi Arabia Ltd., in the presence of Saudi Aramco executives and members of local authorities.
High crude prices will continue to fuel the expansion of GCC economies, boosting the number of jobs for nationals and foreigners, the regions private sector has said.
