Saudi oil

Analysis: At the World Cup, the Saudi Crown Prince returns to the world stage

Saudi leader shielded from US lawsuits Participated in summits around the world Winning Argentina improves its image among Saudi youth DOHA, Nov 22 (Reuters) – When Saudi Crown Prince Mohammad bin Salman took a seat next to the FIFA President at the opening of the World Cup in Qatar, it …

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There is a $15 solution to the US-Saudi oil dispute

Comment this story Comment The relationship between Washington and Riyadh has reached this stage where Saudi officials give TV interviews to talk about how good it is. The current tiff has deep roots, but the immediate problem is — what else? — oil, where the United States and Saudi Arabia …

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Saudi Aramco and Pertamina reach hydrogen and ammonia agreements

Saudi Aramco and Indonesian state-owned Pertamina have signed an agreement to work jointly on projects involving the hydrogen and ammonia value chains. Aramco, in a statement on Monday, said the companies signed a “Memorandum of Understanding (MoU) outlining future cooperation on the key energy transition path” on the sidelines of …

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Biden ‘has no intention of meeting Saudi crown prince at G20’

With US-Saudi relations strained again over Riyadh’s recent support for oil production cuts, US President Joe Biden is not planning a meeting with Saudi Crown Prince Mohammed bin Salman when the Group of 20 countries industrialized countries will meet in Indonesia in the coming days. , White House national security …

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Head of public security: Sanction against motorists for not giving way to ambulances

Okaz/Saudi Official Gazette Riyadh – Lt. Gen. Muhammad Al-Bassami, director of public security, said punitive measures will be taken against motorists who do not yield to ambulances. “Failure to yield the right of way to emergency vehicles will be monitored as a violation and sanction will be taken against those …

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Big Oil doesn’t dance to government tunes. Period.

A few days ago, President Biden caused a stir in the media when he threatened oil companies with windfall taxes and “other restrictions” if they didn’t stop returning money to shareholders and start to invest that money in more oil production. The industry, through the American Petroleum Institute, reiterated once …

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Saudi Arabia focuses on mining as it seeks to diversify

SYDNEY, Nov 2 (Reuters) – Saudi Arabia plans to award more than a dozen mining exploration licenses to international investors as it seeks to enter the mining sector in a big way to diversify away from the hydrocarbons, Mines Minister Bandar Al-Khorayef said on Wednesday. Five new exploration sites are …

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Going to extremes to fight oil contamination

JEDDAH — A comprehensive analysis of bacterial communities on Deception Island, an active volcano in Antarctica, highlights the potential for using thermophilic bacteria to clean up oil contamination, according to new research from researchers at KAUST. Júnia Schultz recently joined KAUST as a postdoctoral student working with Dr. Alexandre Rosado, …

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Saudi energy minister discusses oil market stability with EU ministers

Oct 28 (Reuters) – Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman has held talks on supporting and increasing the stability of the international oil market with European ministers, according to the news agency. Saudi SPA. In separate virtual meetings with French Energy Transition Minister Agnès Pannier-Runacher and Greek Energy …

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Saudi Arabia’s PIF and Tadawul set up regional voluntary carbon market company

Saudi Arabia Public Investment Fund (FIP) partnered with Saudi Tadawul Group, the holding company that manages the kingdom’s stock exchange, to create the Regional Voluntary Carbon Market Company. Based in Riyadh, the new company will support regional businesses in their contribution to the global transition to net zero. It aims …

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Critics say Biden is failing on energy policy. The facts say otherwise.

Texas Congressman and House Speaker Sam Rayburn joked, “Any moron can knock down a barn, but it takes a skilled carpenter to build one. This analogy which is particularly relevant when assessing the recent energy policies of the Biden administration, including the generally skeptical reaction of industry analysts to the …

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US tells OPEC Russian oil price cap won’t target cartel: report

The United States has reassured OPEC that a cap on Russian oil prices is not also aimed at the cartel, a Treasury official told Reuters. The official also said the proposed cap for Russian oil was not the start of a buying cartel designed to counter OPEC. The assurances could …

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Saudi Arabia defends its oil policy against US accusations

OIL TITAN A Saudi Aramco oil facility near the al-Khurj area, just outside the Saudi capital Riyadh, on September 15, 2019. AFP FILE PHOTO Riyadh: Saudi Arabia has dismissed US accusations of siding with Russia amid the war in Ukraine by cutting oil production to drive up crude prices, insisting …

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The United States was the world’s largest oil producer in 2018, not just Texas

The claim: Texas was the world’s largest oil producer in 2018, overtaking Saudi Arabia Texas produced 1.7 billion barrels of oil in 2021by far the most of all states in the United States But a widely viewed Facebook post claims Texas was at one point the world’s biggest oil producer, …

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Opinion: Saudi Arabia and the United Arab Emirates are not US vassal states

Editor’s note: Jason D. Greenblatt was sent from the White House to the Middle East in the Trump administration. He is the host of “The diplomat“podcast on Newsweek and author of the new book”On the way to Abraham.” follow him @GreenblattJD. The opinions expressed in this commentary are his own. …

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Understanding the Ups and Downs of US-Saudi Relations: QuickTake

For more than seven decades, despite differences over human rights and the Arab-Israeli conflict, the United States and Saudi Arabia have maintained a close alliance based on an exchange of security for oil. Lately, this arrangement has shown signs of stress. US President Joe Biden initially chilled relations after the …

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Eric Paquette’s Meridian Pictures Forms Partnership With Saudi Arabia’s Hakawati Entertainment – Deadline

EXCLUSIVE: The film and television company of Eric Paquette, former director of MGM and Sony Pictures, Meridian Pictures, has entered into a partnership agreement with the Saudi production house and the literary management company Hakawati Entertainment. Under the agreement, Los Angeles Paquette will bring Hollywood talent to the Saudi entertainment …

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Saudi Arabia’s oil production increased by 20% in 8 months

Saudi Gazette report JEDDAH — Saudi Arabia’s average oil production has increased by 20% from the start of 2022 until the end of August, according to a government document seen by Saudi Gazette. The Kingdom’s production reached around 10.5 million barrels per day, 1.8 million barrels per day higher than …

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Saudi Arabia outperforms Gulf peers but posts monthly loss

Sept 29 (Reuters) – The Saudi stock market outperformed its Gulf peers on Thursday, extending the rebound for a second session, but posted a monthly loss after a recent plunge. The Saudi stock market hit its lowest level in more than 9 months on Monday as fears grew that central …

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Power cuts in Sri Lanka blamed on bad oil

COLOMBO — A senior Sri Lankan official has blamed imports of poor-quality crude oil for shutting down a power station, leading to prolonged outages. The head of the utilities regulator, Janaka Ratnayake, said the oil burned in the furnaces contained too much sulphur. But the country’s energy minister disputed the …

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Energy issues trump human rights as Scholz visits Saudi Arabia | Business | Economic and financial news from a German perspective | DW

Saudi Crown Prince Mohammed bin Salman (MBS) has become a bit of an outcast in the West after the 2018 assassination of dissident Saudi journalist Jamal Khashoggi at the kingdom’s consulate in Istanbul. Four years later, the world has changed. US President Joe Biden and French President Emmanuel Macron met …

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Saudi lobbyist, Republican fundraiser

Last year, the former Minnesota Senator Norm Coleman, one of the Republican Party’s greatest fundraisers, had a request for 30 Republican congressional staffers. Coleman had helped many of their bosses’ campaigns in his role at the top of an organization that has raised and spent over $165 million in the …

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Vallourec has signed a 10-year agreement with Saudi Aramco to

Vallourec has signed a 10-year agreement with Saudi Arabia for the supply of Premium Housings and Services Meudon (France), 20 September 2022 – Vallourec, world leader in premium tubular solutions, signed a 10-year agreement with Saudi Aramco for the supply of Premium Casing and Services. The associated controls will be …

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Business meeting between Qatar and Saudi Arabia aims to expand investment ties

Officials from the Qatar Chamber and Saudi Arabia’s Asharqia Chamber participated in the Qatari-Saudi business meeting held in Doha on Sunday in the presence of key dignitaries from both sides.The meeting, hosted by the Qatar Chamber, was co-chaired by First Vice President Mohamed bin Towar al-Kuwari and Asharqia Chamber Speaker …

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Saudi Arabia inaugurates the port of Jazan

In its first phase, the port consists of three industrial berths, a Single Point Mooring (SPM) facility for the Saudi Aramco refinery, and three commercial berths for containers, general cargo and bulk cargo. The Chairman of the Royal Commission for Jubail and Yanbu, HE Eng. Khalid Al-Salem that the port …

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Windfall in oil prices and sector growth blow up Saudi economy

The Saudi economy is booming according to the latest Economic Insight report, commissioned by ICAEW, for the Middle East ICAEW Economic Advisor Scott Livermore says with the oil price windfall, Saudi continues to attract new investment into the economy (Image source: ICAEW) Windfall from rising oil prices combined with growth …

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India-Saudi relations show promise of growth: EAM S Jaishankar: The Tribune India

Tribune press service New Delhi, September 11 External Affairs Minister S Jaishankar has stressed the importance of closer ties between India and Saudi Arabia at a time when the world stands at a crossroads. Age-old relationship Over the past few years, Saudi Arabia has been helpful …

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India seeks to increase investment from Saudi Arabia as part of its privileged relationship

Relations between India and Saudi Arabia, which have strengthened considerably over the past few years – particularly following Prime Minister Narendra Modi’s visit to Riyadh in October 2019 – will be the focus of attention this weekend. while External Affairs Minister S Jaishankar will travel directly from Tokyo to Saudi …

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In view of tourism boom, Saudi Arabia scrambles to train hotel staff

Riyadh (AFP) – Under the watchful eye of an instructor, Munira al-Rubaian hangs fresh bed linen in a fake hotel room in the Saudi capital, in a bid to land a job in the desert kingdom’s booming tourism sector . The unemployed 25-year-old is one of thousands of Saudis enrolled …

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Saudi Real Estate Refinance Co aims to raise around $800m via domestic sukuk

DUBAI – Saudi Real Estate Refinance Co (SRC), the Saudi equivalent of US mortgage finance company Fannie Mae, will soon issue around 3 billion riyals ($798.34 million) in local currency sukuk, or Islamic bonds, its chief executive announced on Tuesday. HSBC, Bank AlJazira, Al Rajhi, Riyad Capital and SNB Capital …

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How stuffy Saudis are escaping to the ‘city of fog’

As Saudi Arabia swelters in scorching desert temperatures, some are escaping to the “City of Fog” – a mountainous oasis of coolness where warm clothes are needed even in summer. Sitting with friends on a picnic blanket, in light rain and thick, swirling mist in Al-Namas, Abdullah Al-Enizi wears a …

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No investment in Russia, drop in Pakistan, pivot to Saudi Arabia – China’s BRI takes a turn

New Delhi: China’s investment and spending in foreign countries through its major infrastructure development plan, the Belt and Road Initiative (BRI), fell 11.77 percent during the first half from 2022 from year to yearaccording to data from the Chinese Ministry of Commerce (MOFCOM). Countries like Russia, Sri Lanka and Egypt …

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TASI starts flat as investors watch oil prices: Opening bell

FRANKFURT/LONDON: Russia will shut off gas supplies through a major pipeline to Europe on Wednesday, intensifying an economic battle between Moscow and Brussels and raising the prospect of recession and energy rationing in some of the region’s wealthiest nations .Nord Stream 1 maintenance means no gas will be delivered to …

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OPEC sings the same old song with new lyrics added

Saudi Energy Minister Prince Abdulaziz Bin Salman al-Saud is no slouch when it comes to rocking the oil market. A few well-chosen words and a hint of production cuts to come – and Brent is back above $100 a barrel in just over 24 hours of its announcement. But I’m …

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Saudi Arabia’s fuel oil imports in June rise 60% a year as supply rises

CAIRO: Cartona, an Egypt-based B2B commerce platform, recently raised $12 million in a Series A funding round. The proceeds will be used to accelerate the company’s expansion across the Egypt, expand its product line and technology and explore new vertical markets. Jordanian venture capital firm Silicon Badia led the round …

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Lack of oil refining policy has halted Saudi investment, PAC says

ISLAMABAD: The absence of an oil refining policy has prevented the federal government from making progress on Saudi Arabia’s $8 billion investment, ARY News reported on Wednesday. It was revealed during the Public Accounts Committee (PAC) session by concerned officials that Pakistan has not made progress on Saudi Arabia’s $8 …

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Saudi telecommunications company Etihad Atheeb cuts losses by 86% on rising sales

RIYADH: The Saudi Energy Ministry, in cooperation with other government agencies, announced on Sunday that it has completed all legislative and technical aspects to regulate the electric vehicle charging market, according to the news agency saudi. The team includes the Ministry of Municipal and Rural Affairs, Ministry of Transport and …

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Dismissing ‘sportswashing’ claims, Saudi minister eyes Olympics

Saudi Arabia sees hosting the Olympics as its ‘ultimate goal’ in a growing sports portfolio, its sports minister has told AFP, while dismissing criticism of the kingdom over its rights record . Investing in sport is part of a multi-pronged strategy approved six years ago to diversify the oil-dependent economy …

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Joshua retains weight advantage over Usyk for Saudi clash

Published on: 08/19/2022 – 14:44 Jeddah (Saudi Arabia) (AFP) – British boxer Anthony Joshua weighed more than 10 kilos (22 pounds) more than defending champion Oleksandr Usyk on Friday ahead of their world title rematch in Saudi Arabia. Two-time heavyweight champion Joshua tipped the scales at 110.9 kilos (244.5 lbs) …

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Focus on India — New Delhi Boosts Saudi Oil Imports; stocks end higher

RIYADH: Saudi Arabia recorded a massive 673.4% increase in the number of investment licenses, with 4,455 licenses issued in the second quarter of 2022 compared to 576 in the same period last year, according to the latest government data. The top five sectors that accounted for most of these licenses …

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Saudi oil giant Aramco reports 90% rise in 2Q22 profits

ANKARA Net profit at state-backed Saudi oil company Aramco rose more than 90% in the second quarter of 2022, driven by higher prices and volumes sold of hydrocarbons and refined and chemical products, according to the company’s financial results on Sunday. The oil giant said it earned 181.6 billion Saudi …

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Anthony Joshua vs Oleksandr Usyk 2: CONFIRMED UK start time, live stream, TV channel, PPV price and undercard

BRITISH boxing icon Anthony Joshua’s massive rematch against Oleksandr Usyk is just around the corner. And a start time has been revealed for the massive fight. 5 Anthony Joshua vs Oleksandr Usyk 2 has been confirmed 5 Anthony Joshua was boxed in his first clash with Oleksandr UsykCredit: Getty Joshua, …

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Petro Rabigh’s Saudi Q2 net profit rises on higher refining margins

SINGAPORE (ICIS) – Petro Rabigh’s net profit jumped 93.2% year-on-year in the second quarter on the back of higher refining margins, the Saudi Arabia-based producer said. Million Saudi Riyals (SR) Q2 2022 Q2 2021 % change S1 2022 H1 2021 % change Sales 18,100 11 109 62.9% 32,502 21,245 53.0% …

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Saudi Arabia: Oil market stability is key to the Kingdom’s energy strategy

The Saudi government on Tuesday stressed the great need to engage in oil production in accordance with the agreements reached by OPEC and OPEC+. Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, chaired the cabinet meeting held in Jeddah. The government has tackled the results of the 31st …

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SmartCrowd Obtains CMA License to Expand into Saudi Arabia

SmartCrowd Holdings, a regional pioneer in fractional real estate investments, has obtained an experimental FinTech license from the Saudi Capital Markets Authority (CMA). SmartCrowd is currently working to fulfill the business requirements for the upcoming launch of its Real estate fund distribution platform, soon make alternative assets available to the …

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Electricity prices in Germany hit record high as utilities limit production

Electricity prices in Germany for the year ahead hit a record high on Friday after several European utilities warned of a drop in power supply due to hot, dry weather affecting production nuclear and coal-fired electricity. Electricity prices in Europe’s biggest market, Germany, rose 2% early Friday to a record …

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Nigeria backs Saudi Arabia’s bid to host 2030 World Expo

Nigeria has pledged its full support for Saudi Arabia’s ambitious bid to host the 2030 World Expo in Riyadh. The two countries have a long history of cooperation and have always supported each other in international forums, Nigeria’s Ambassador to Saudi Arabia Yahaya Lawal told Arab News. “It is certain …

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Qatar outperforms Gulf stock markets on rising oil prices and corporate earnings

An investor watches a screen displaying stock information at the Abu Dhabi Stock Exchange on June 25, 2014. Join now for FREE unlimited access to Reuters.com Register July 31 (Reuters) – Most Gulf stock markets ended higher on Sunday as the Qatari index outperformed the region, benefiting from support from …

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Saudi Arabia and Middle Eastern countries attract European interest | Atalayar

Peter Stano, Chief Spokesperson of the European Union (EU), gave a press conference in Brussels where he announced that Europe is ready to strengthen its relations with certain countries in the Middle East, especially those belonging to the Gulf Cooperation Council (GCC). According to the spokesperson, the two organizations share …

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Saudi prince invests £190m in Britain’s biggest pension fund

A Saudi prince has taken a £190m stake in Britain’s biggest pensions provider as the Gulf state expands its presence in the City of London. Saudi royal Alwaleed bin Talal Al Saud has revealed that he took a stake of just over 3% in Phoenix Group through his Kingdom Holding …

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‘Saudi Bill’ celebrates his 90th birthday with his beloved Scarlett

Bill and Sheila on their wedding day The money was excellent and he liked the lifestyle. The only problem was that he missed his wife Sheila, who stayed at the family home near Dudley to raise their two young sons. So to keep the romance alive, he put a Valentine’s …

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Saudi Stock Exchange Records Five Sessions of Gains; Qatar rises

Saudi stocks fell slightly on Sunday, posting five consecutive sessions of gains, after crude oil prices fell on Friday, although the Qatari index extended its gains. US crude prices settled below $95 a barrel for the first time since April in choppy trading on Friday after the European Union said …

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Saudi Arabia concludes its participation in the Farnborough International Airshow

Saudi Arabia has concluded its participation in the Farnborough International Airshow (FIA 2022). The five-day show was held in the UK and witnessed large-scale participation from around the world. As part of the national “Invest Saudi” initiative, the Saudi pavilion was organized and run by the General Authority for Military …

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Australia could become the Saudi Arabia of green hydrogen, says European energy boss

Australia could become to green hydrogen what Saudi Arabia is to oil, according to a senior executive at a German energy and utilities giant. Patrick Lammers is the chief executive of E.ON, which in March signed a draft agreement with Fortescue Metals Group that will see the two companies work …

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Biden’s Hollow Middle East Journey

US President Joe Biden returns from a four-day visit to Israel and Saudi Arabia with a handful of pledges on regional and energy security issues, many of which are little more than empty promises. The price paid for these hollow achievements was high. The administration of US President Joe Biden …

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Biden’s Saudi visit aims to balance rights, oil and security

JEDDAH, Saudi Arabia — President Joe Biden met on Friday with Saudi Crown Prince Mohammed bin Salman, the man he once vowed to shun for human rights abuses, and shared a cordial thumbs up as he attempted to restore an important diplomatic relationship, strengthen Middle Eastern security and increase the …

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Don’t expect Biden’s Saudi trip to lower oil prices

President Joe Biden insists his trip to Saudi Arabia on Friday covers everything from strengthening security in the region to reorienting policy with the kingdom. Anything but the one thing he really needs but can’t get: more oil. A strong push from the president is unlikely to get Saudi leaders …

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Saudi Aramco plans mega expansion of Namaat industrial complex

The Saudi Arabian Oil Company (Aramco) has announced a major expansion plan for its Namaat industrial investment program, with the signing of 55 agreements and memorandums of understanding (MoU) in the sectors of sustainability, digital, industrial manufacturing and social innovation. In a bid to focus on four key sectors, namely …

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In the Middle East, Biden struggles to change policy after Trump

WASHINGTON (AP) — Joe Biden has taken office with the goal of reshaping U.S. foreign policy in the Middle East, with an emphasis on promoting democracy and human rights. In fact, he has struggled on multiple fronts to meaningfully separate his approach from that of former President Donald Trump. Biden’s …

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Pro golfers, seduced by Saudi Arabia, prove that money rules

Despite what should have been a permanent ‘scarlet letter’ following his alleged role in the dismemberment of US journalist Jamal Khashoggi, Mohammed bin Salman, the crown prince of one of the world’s most repressive nations, is back in the news by flexing its monetary muscles. The Saudi-funded golf league known …

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Talk of an oil market recession is overblown

Comment this story Comment The oil market suffered a sharp selloff this week, raising concerns about a repeat of the boom and bust cycle of 2008. At the time, Brent crude hit a record high of nearly $150 a barrel in July , but ended the year below $40 as …

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Live Updates: Australia’s central bank raises its key rate for the third consecutive month

Saudi Arabia will spend more than $5 billion on social security payments and boosting strategic reserves as the oil-rich kingdom feels the bite of global inflation. Saudi Arabia has managed inflation relatively well, with consumer prices rising 2.2% last month, but Saudis have started to feel the impact of higher …

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After Ukraine, the new energy disorder

The Ukrainian crisis has radically changed the contours of the global energy landscape and created a tangle of relations and issues for India. To iron out this entanglement and solve the problems, India should adopt a “whole system” approach to energy policy. Six months before the start of the Ukrainian …

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Oil prices ease on recession fears, head for third weekly loss

Sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. REUTERS/Angus Mordant/ Join now for FREE unlimited access to Reuters.com Register OPEC+ sticks to oil production policy, avoids debate in September Traders prepare for the July …

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Can Saudi Aramco deliver on its oil production promises?

Placeholder while loading article actions If the oil market were a religion, its central article of faith would be the maximum production capacity of Saudi Aramco, a principle based on trust in what we hope to be true and belief in properties of which we have not yet been witnesses. …

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Israel and Saudi Arabia ‘in talks on joint defense against Iran’ | Israel

According to a report, senior military officials from Israel and Saudi Arabia met in secret US-brokered talks to discuss defense coordination against Iran. Delegations from Riyadh, as well as Qatar, the United Arab Emirates, Bahrain, Jordan and Egypt, met with the Chief of Staff of the Israel Defense Forces (IDF) …

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Hailing social reforms in Saudi Arabia, Italian Foreign Minister Luigi Di Maio says Rome is ready to support the kingdom

RIYADH: Psychedelic researcher Stanislov Grof once wrote that “psychedelics, used responsibly and with proper caution, would be to psychiatry what the microscope is to biology and medicine or the telescope is to astronomy.” . For many, this may seem like a far-fetched claim, but now more than ever it is …

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OPEC+ to stick to oil supply boost plan as Biden heads to Saudi Arabia – sources

The logo of the Organization of the Petroleum Exporting Countries (OPEC) is pictured at its headquarters in Vienna, Austria August 21, 2015. Picture taken August 21. REUTERS/Heinz-Peter Bader/ Join now for FREE unlimited access to Reuters.com Register LONDON, June 23 (Reuters) – OPEC and allied producing nations including Russia are …

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UK launches ambitious trade deal with Gulf countries

Talks kick off in Riyadh to strike a trade deal with countries covering £33.1bn of trade UK food and drink, manufacturing and renewable energy sectors would benefit from a new deal between the UK and the Gulf Cooperation Council Landmark deal would add at least £1.6bn a year to the …

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Anthony Joshua’s return adds to Saudi sporting portfolio

Anthony Joshua’s rematch with Oleksandr Usyk has been announced for Saudi Arabia on August 20. Here, the PA news agency takes a look at other competitions held around the country. Formula One The first Saudi Arabian Grand Prix took place in December 2021 with a night race in Jeddah, with …

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Will Biden’s Saudi visit lower oil prices? | Robin Mills

It would therefore be risky to upset the framework, knowing that production cuts could be necessary again soon. Riyadh came to value its relationship with Russia, which offered a variety of strategic and political advantages but, most importantly, allowed management of the oil market without the ever-present threat of giving …

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Saudi Aramco may merge business units ahead of IPO

Ahead of potential IPO plans for its trading arm, Saudi Aramco is considering a merger between Aramco Trading Co and Motiva Trading, Reuters reported Thursday. Citing two unnamed sources “familiar with the matter”, Reuters said the merger and restructuring of the two business arms could take place by the end …

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Biden says his visit to Saudi Arabia is about Israel, not oil prices

President Joe Biden has awkwardly asserted that his planned trip to Saudi Arabia, where he is expected to tighten ties with Saudi Crown Prince Mohammed bin Salman (MbS) and ‘advance’ from the problem of the murder of Jamal Khashoggi, has little to do with energy. He had this exchange with …

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Don’t go to Saudi Arabia, President Biden

The news last week that the European Union has reached an agreement to drastically reduce the purchase of Russian oil is a welcome development that signals that the continent is not only united against the genocidal attack on Ukraine, but that its political leaders are prepared to make tough choices …

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Desalination project signifies potential for business-university partnerships in Saudi Arabia

DUBAI: The worlds of business and academia are too often seen as mutually exclusive. But as nations seek scalable solutions to the climate crisis, while trying to meet the demands of ever-growing populations, there is certainly merit in working to combine the efforts of these two forces. Take the recent …

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Oman announces new oil discoveries and oil and gas deals with Iran

Saudi Arabia sets the stage for UN tourism summit as travelers seek post-pandemic change RIYADH: Saudi Arabia will host the 116th Executive Council of the United Nations World Tourism Organization on June 7-8 in Jeddah, with around 180 participants from around the world. The two-day event will deliberate on all …

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Blinken: Saudi Arabia ‘essential partner’ in expanding Abraham Accords

US Secretary of State Antony Blinken said on Wednesday that Saudi Arabia was an “essential partner” in countering Iran’s power in the Middle East and helping expand the Abraham Accords, which normalized ties between Israel and the Arab countries. Blinken was asked about the Biden administration balancing its efforts to …

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Oil prices rise as OPEC prepares to set new production targets | OPEC

Oil prices rose ahead of Thursday’s meeting of the OPEC cartel of oil-producing nations, as ministers prepare to set production targets for July at their first meeting since the EU imposed restrictions. sanctions on Russian crude. OPEC is under pressure from some members to exclude Russia, the world’s third-largest oil …

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Is Tesla really competing with the automotive industry – or oil and gas?

Every new electric vehicle is compared to Tesla. General Motors CEO Mary Barra even said her company will sell more electric vehicles than Tesla by the mid-2020s. Lucid and Rivian are “Tesla Killers.” And Henrik Fisker seems to have a particular bee in his hood about Elon Musk quitting Twitter …

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The BRICS reached consensus on the expansion process; may include Saudi Arabia, Argentina: China

China said Friday (May 27) that the foreign ministers of Brazil, Russia, India, China and South Africa (BRICS) had “reached consensus on its expansion process and agreed to include new developing countries. Beijing holds a rotating presidency of the BRICS bloc this year, and its foreign ministry said on Friday …

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Two US officials traveled to Saudi Arabia for oil, Iran talks

Two senior US officials traveled to Saudi Arabia this week to discuss energy supplies and Iran with officials from the oil-rich kingdom. Brett McGurk and Amos Hochstein were the two US officials who visited the Gulf [source: Getty] Two senior US officials visited Saudi Arabia this week for talks on …

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Carnival plans to sell Seabourn to Saudi investors

Seabourn has built five larger cruise ships and is now adding cruise ships for expedition cruises (Seabourn) Posted on May 24, 2022 9:36 PM by The Maritime Executive Carnival Corporation, which is the largest cruise line in the world, is …

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China’s oil demand must stay weak or we’ll have a tough summer (IEA)

Speaking to CNBC on Monday, the executive director of the International Energy Agency discussed the intricacies of the energy transition and the competing challenges that will need to be balanced in the years to come. Imaginima | E+ | Getty Images The executive director of the International Energy Agency spoke …

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Reviews | Biden’s risky contacts with Saudi Prince Khalid bin Salman

Placeholder while loading article actions Prince Khalid bin Salman of Saudi Arabia is not a household name but should be notorious. As the oil-rich kingdom’s ambassador to Washington in the fall of 2018, he assured journalist and Post contributor Jamal Khashoggi that he could safely collect some paperwork he needed …

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Global Energy Transition (O&G) Market Opportunities / 2022 Analysis Report with Shell, BP, TotalEnergies, Saudi Aramco, ExxonMobil, Chevron, Sinopec, Petronas, Ecopetrol, Lukoil

DUBLIN, May 19, 2022 /PRNewswire/ — The “Growth Opportunities of the Global Energy Transition” report has been added to from ResearchAndMarkets.com offer. This study reviews the innovations and strategies of 10 major oil and gas companies around 7 key pillars of the energy transition: eMobility; renewable energy; hydrogen; Carbon Capture, …

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Sportswashing has never been easier – but the Saudis hit oil again with the spirit of Newcastle

It was easy for Amanda Staveley and PIF to get Newcastle fans to buy into their project – but the owners must never spoil the unity that currently drives the Magpies… Say what you owe on the Saudi PIF – and there are many things that absolutely must be said …

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Ticker: Ski visits hit record high for 2021-22 season; Saudi oil profits jump 80%

The 2021-2022 ski season broke a record for the total number of skier visits to resorts across the country. The national figure of 61 million skier visits was up 3.5% from the previous season, according to the National Ski Area Association. “This record attendance indicates that the ski industry in …

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Saudi Arabia and Kuwait seek to exploit the potential of the Al-Durra gas field

Saudi Arabia and Kuwait seek to exploit the potential of the Al-Durra gas field Saudi Energy Minister Prince Abdulaziz bin Salman with his Kuwaiti counterpart Mohammed Al-Fares. (Provided) The foreign ministries of Saudi Arabia and Kuwait issued a joint statement last month affirming their right to develop and “exploit the …

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Saudi Arabia-listed Petro Rabigh posts $173m profit as oil prices soar in first quarter

RIYADH: Saudi shares closed lower for the fourth straight day in the final trading session of the week as traders struggled to gain ground and energy prices fluctuated. Oil price volatility continued, with Brent crude hitting $105.38 a barrel and WTI crude hitting $103.61 a barrel, as of 3:32 p.m. …

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US gas prices have peaked, but the oil market may signal relief

As the summer driving season approaches, the national average price for regular gasoline climbed Tuesday to a nominal record high of $4.37 a gallon. But relief could be on the way, with oil prices falling below $100 a barrel, down about 10% since the weekend. It may take a week …

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Saudi Arabia gives wings to urban air mobility

DUBAI: German hotel giant Deutsche Hospitality, which operates Steigenberger Hotels under its umbrella brand, plans to expand its offering in the Middle East this year with the addition of four new hotels under different brands. “We plan to double the number of rooms we manage in the region by the …

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Global climate cooperation key to boosting sustainable tourism, Saudi minister tells UN

Saudi Arabia’s Ministry of Industry and Mineral Resources says it has secured $6 billion for a steelworks complex and electric vehicle battery metal plant as part of plans to attract $32 billion in investment in the mining sector, according to Reuters. The ministry’s goal would be to fund nine mining …

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Jeddah Season attracts over 200,000 visitors in the first 3 days

RIYADH: Nearly 3,600 video games have been laundered and classified in Saudi Arabia since 2015, according to Hattan Tawili, general supervisor of the video games department at the General Commission for Audiovisual Media. According to Tawili, “things are going well in terms of the development of the sector as a …

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Saudi Arabia in a post-oil world — IR INSIDER

Over the past two decades, the need to move away from fossil fuels has become evident. Climate change has started to impact the world, and all over the world acceptance of theory has increased. In addition to the environmental impact, the supply of fossil fuels is limited and will be …

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Visit of Pakistani Prime Minister Sharif to the United Arab Emirates and Saudi Arabia

Pakistani Prime Minister Shehbaz Sharif visited the United Arab Emirates (UAE) and Saudi Arabia as part of his Gulf tour this weekend. Sharif held a meeting with Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed Al-Nahyan as part of his visit to the United Arab Emirates. He arrived in Abu …

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Why are the enemies of Turkey and Saudi Arabia forging relations?

Dubai, United Arab Emirates – The murder of Saudi journalist and columnist Jamal Khashoggi in 2018 by Saudi agents in Istanbul sent an already strained and precarious relationship between Turkey and Saudi Arabia into a tailspin. Fast forward 3 and a half years later, it looks like Turkey and Saudi …

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Saudi Jadwa Investment revises down 2022 global oil demand growth by 12%

China In-Focus — Beiersdorf Cuts Forecast; Alibaba’s Lazada eyes European expansion; UBS’s David Chin resigns BEIJING: Beiersdorf, the maker of Nivea skincare products and Tesa glue, cut its adhesives unit’s full-year sales forecast on Thursday due to widespread lockdowns in China and ongoing health concerns. supply chain in the automotive …

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UAE remains top destination for Saudi Arabia’s non-oil exports in February despite decline

RIYADH: An economic rebound and higher oil prices prompted Moody’s to change the outlook for the banking systems of Saudi Arabia, Kuwait, United Arab Emirates, Qatar, Oman and Bahrain from negative to stable. Many banks in the Gulf region will see their profitability increase and credit growth accelerate as operating …

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Oil import bill doubles to $119 billion in FY22 as energy prices rise

The crude oil import bill nearly doubled to $119 billion in the fiscal year that ended March 31, as energy prices soared globally following the return of demand and war in Ukraine. India, the world’s third largest oil consumer and importer, spent $119.2 billion in 2021-22 (April 2021 to March …

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Multilateralism will help world overcome future challenges, says Saudi finance minister

LOS ANGELES: When China banned bitcoin mining last year, it sparked a gold rush in American cryptocurrencies, with states such as New York, Kentucky and Georgia quickly becoming centers major mines, according to Reuters. New York State Assemblyman Clyde Vanel couldn’t be happier. “It’s a blessing that it’s happening here,” …

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