Saudi oil

Jadwa expects Saudi deficit to narrow in 2021 as oil prices hit multi-year highs

International tourism body to work with new Saudi sustainability center as it pushes for net zero carbon roadmap Travel industry launches “net zero roadmap,” the head of the World Travel and Tourism Council (WTTC) told Arab News, adding that the organization would work closely with the new sustainability center of …

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With shale under control, Saudi Arabia and Russia become more comfortable with oil rally

A sticker shows crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, USA, November 22, 2019. REUTERS / Angus Mordant / File Photo OPEC + has pushed back US calls for faster production increases Russian source claims OPEC + is not …

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Saudi Arabia wants businesses and families to choose Riyadh

The Saudi Arabia pavilion is on view at Expo 2020 in Dubai, United Arab Emirates on Monday, October 18, 2021. The Crown Prince of Saudi Arabia wants businesses, their employees and their families to relocate to the kingdom. The once ultra-conservative capital Riyadh now promises a lifestyle where concerts, cinemas, …

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Saudi Arabia, Bahrain, and other allies join US bombers fly over regional choke points

The U.S. Air Force flew a B-1B strategic bomber over key maritime choke points in the Middle East alongside fighter jets from allies including Saudi Arabia, Israel, Egypt and Bahrain, amid continued tension with Iran as its nuclear deal with world powers remains in tatters. The B-1B bomber flew over …

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Saudi Aramco Sees Revenue Increase to $ 30.4 Billion in Third Quarter | WJHL

through: ISABEL DEBRE, Associated Press Posted: Oct 31, 2021 / 6:53 AM EDT / Update: Oct 31, 2021 / 6:53 AM EDT FILE – In this file photo from June 28, 2021, engineers and journalists at Saudi Aramco examine the Hawiyah natural gas liquids recovery plant, which is designed to …

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Saudi Arabia orders Lebanese ambassador to leave the kingdom

BEIRUT (AP) – Saudi Arabia on Friday ordered Lebanon’s ambassador to the kingdom to leave the country within 48 hours and halted all imports from Lebanon, in response to comments from a Lebanese minister who called the war in Yemen a Saudi “aggression”. Hours later, the Kingdom of Bahrain ordered …

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The specter of a problematic crown prince hangs over Biden’s policies in Saudi Arabia | American foreign policy

When Joe Biden was recently requested if gas prices were to come down soon, the US president offered an enigmatic explanation of how his strained relationship with Saudi Arabia was at least partly to blame for the price at the pump. Gas prices were high because the oil-rich countries of …

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Saudi Arabia Facilities Management Markets, 2016-2020 and 2021-2026 – Increase in Public Spending in Tourism Sector and Construction Activities

DUBLIN, October 27, 2021– (COMMERCIAL THREAD)–The “Saudi Arabia Facilities Management Market Research Report: Forecast (2021-2026)” report was added to ResearchAndMarkets.com offer. Saudi Arabia Facilities Management Market Expected To Grow At A CAGR Of Around 15% In The Period 2021-26F The growth of the market is accredited to propel investments in …

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Saudi Arabia and Iran want to be friends again

Times are changing ‘. Iranian leaders may not be fans of Bob Dylan, but his words are likely to resonate as they consider their next steps in Iraq, Iraqi Kurdistan, Lebanon and Azerbaijan. The same goes for Turkish President Recep Tayyip Erdogan. The president’s brilliance as a fierce defender of …

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Saudi Arabia plans to build theme park on oil rig

Located in the Persian Gulf, “THE RIG” will be the first tourist destination in the world inspired by offshore oil platforms. (Saudi Arabia Public Investment Fund) Oil-dependent Saudi Arabia takes the concept of economic diversification at face value. The kingdom has announced plans to convert an oil rig in the …

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Saudi Arabia, leading oil exporter, targets net zero emissions by 2060

Dual objective of reducing carbon emissions Saudi initiative for an investment of 187 billion dollars Fight against climate change while ensuring the stability of the oil market Could reach target before 2060, according to Minister of Energy RIYAD, October 23 (Reuters) – The Crown Prince of Saudi Arabia said on …

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Indian state refiners consider joint crude purchases as soaring prices bite

Strong points IOC, BPCL, HPCL are the main state-run refiners in India The key challenge of pricing such long-term transactions: Platts Analytics HPCL rough runs reach 100% capacity as demand increases Indian state refiners, bitten by soaring crude prices, are working on a plan to jointly negotiate forward crude import …

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Less than a third of the British public would support a trade deal with Saudi Arabia | Politics

Less than a third of the British public would support a trade deal with Saudi Arabia, data released by the government revealed as Foreign Secretary Liz Truss met with senior officials in the oil-rich state. Truss is on a trip to the Gulf, where a government spokeswoman said she would …

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Oil stays close to multi-year highs as energy crisis continues

A Bank of America report warned that achieving net zero would cost the global economy $ 5,000 billion annually over the next 30 years. On the eve of the UN’s COP26 environmental conference in Scotland this month, where countries that signed the 2015 Paris Agreement to reduce carbon emissions will …

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Oil prices soar as COVID recovery, power producers fuel demand

Russian gas giant Gazprom has reserved about a third of the additional gas transit capacity offered through the Yamal-Europe pipeline through Poland for November and has not reserved any volume through Ukraine, auction results showed on Monday. Gazprom’s data also showed that its gas exports declined in the first half …

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Saudi Arabia to turn huge oil rig into hotel and theme park

A huge oil rig in the Persian Gulf will be transformed into an 800-room hotel and theme park. Saudi Arabia’s Public Investment Fund has unveiled plans for its latest tourist attraction called The Rig – a series of connected platforms that span 150,000 square meters. “This project is a unique …

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Saudi Aramco wipes out nearly $ 2 billion in valuation as oil prices skyrocket

By: Associated Press October 15, 2021 Saudi oil company Aramco recently hit the $ 2 trillion valuation the kingdom’s crown prince has long sought, supported by high oil prices and increased demand for energy as economies recover from pandemic lockdowns of Last year. Enter your username and password in the …

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Saudi Arabia accused of forcing Yemenis in the kingdom to quit their jobs | Saudi Arabia

Saudi Arabia is imposing a collective double punishment on the Yemeni people by driving them out of their jobs in the kingdom while continuing to impose an oil and humanitarian blockade on Yemen, the UN Security Council was told. Criticism from Riyadh came as evidence mounted that the Houthis were …

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Saudi Arabia’s quota policy for hiring local people has negatively impacted businesses, study finds

Aerial view of Saudi Arabia | Simon Dawson | Bloomberg Text size: A- A + NOTNationalization policies, and in particular Nitaqat, aim to increase Saudi employment in the private sector, which Saudi citizens have always avoided seeking or seeking better paying jobs with better working conditions in the public sector. …

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Worley wins refinery modernization project with Saudi Aramco

Engineering services giant Worley (ASX: WOR) has been awarded a refinery modernization contract with Saudi Aramco. The project will convert low-value refinery “tailings” into higher-value products, including gasoline, jet fuel and ultra-low sulfur diesel. Worley will provide initial engineering design (pre-FEED), FEED and project management services for the entire project …

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EPL news 2021, buyout of Newcastle United, Saudi Arabia, what wealth, new owners, transfers, latest news

Guess that’s how politicians feel? You are told what you should be thinking, how you should be thinking, when you should think it, and whatever choice you make, for many you are 100% wrong. Newcastle United is my football club. It’s my father, his father and his father. One step …

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Prime Minister Imran Khan likely to visit Saudi Arabia at Crown Prince ‘invitation’

ISLAMABAD: Prime Minister Imran Khan will likely visit Saudi Arabia at the invitation of Saudi Crown Prince Muhammed bin Salman to attend the Green Initiative Middle East conference, ARY NEWS reported. According to sources familiar with the development, Saudi Ambassador to Pakistan Nawaf Bin Said Al-Maliki extended an invitation from …

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Amnesty expresses human rights concerns as Saudi takeover of Newcastle looms

October 7 (Reuters) – Amnesty International on Thursday called on the Premier League to focus on human rights issues and ‘sportswashing’ as the proposed sale of Newcastle United to a consortium led by the Public Investment Fund (PIF) of Saudi Arabia was getting closer. The PIF – chaired by Saudi …

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Newcastle takeover: Saudi-funded offer expected to be successful in near future

The Saudi-funded consortium’s offer for Newcastle United is expected to be successful in the near future after the beIN Sport ban in the Gulf country is lifted. An 18-month-long takeover saga that has seen the club embroiled in legal disputes with the Premier League is now closer to a resolution …

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Saudi non-oil private sector growth reaches its highest level in 7 years

Saudi Gazette report RIYAD – According to a survey by the Information Processing Services (IHS) Market. IHS Markit is a global information provider. A purchasing managers index compiled by IHS Markit rose to 58.6 in September from 54.1 the previous month, the largest monthly point gain on record. The 4.5 …

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Malaysia harnesses economic, trans-fat-free benefits to spotlight the Middle East as a major new export market

Earlier this year, MPOC CEO Datuk, Dr Wan Zawawi Wan Ismail, previously revealed to us the council’s plans to diversify Malaysian palm oil export markets beyond its two main markets. current, China and India. “The current palm oil market has only two major exporters of palm oil – Indonesia takes …

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Saudi Arabia executes Shiite accused of links to “terrorist cell”

The file photo shows protesters mocking a Saudi execution process during a protest outside the kingdom. The Saudi authorities executed a citizen of the region of Qatif, in the eastern province of the kingdom, rich in oil and populated by Shiites, for alleged links with a “terrorist cell”. The Saudi …

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Oil and gas prices could remain high as investors seek clean energy

HOUSTON – Americans are spending a dollar more on a gallon of gasoline than they were a year ago. Natural gas prices have climbed more than 150% over the same period, threatening to increase the prices of food, chemicals, plastics and heating this winter. The energy system is suddenly in …

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Gulf economies explode in 2021

Last year, in the throes of the energy crisis, the Gulf countries led by Saudi Arabia have consistently touted the strength of their economies, claiming they could withstand any scale of shocks. But the truth is that most of the Gulf economies were in dire straits due to their excessive …

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ADNOC Drilling begins trading with a market cap of $ 10 billion

FILE PHOTO: Electronic signs displaying stock information are seen as an investor walking past the ADX Abu Dhabi Securities Exchange on May 16, 2012. REUTERS / Ben Job / File Photo DUBAI (Reuters) – Abu Dhabi National Oil Company (ADNOC) to list its drilling unit in a $ 1.1 billion …

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Reliance creates a subsidiary in the United Arab Emirates for the oil trade

MUMBAI (Reuters) – Reliance Industries said on Saturday it had established a wholly-owned subsidiary in the United Arab Emirates (UAE) to trade crude oil, petroleum, petrochemicals and agricultural commodities. Reliance International Ltd (RINL), the new subsidiary, has yet to start operations, the parent company said in an exchange document, adding …

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Saudi Aramco set to cut November PSOs amid falling demand and rising crude

Saudi Aramco and other Middle Eastern producers are expected to cut official selling prices, or OSPs, for crude loading in November due to weak supply and demand fundamentals leading to a sharp correction of Platts Dubai benchmark differentials in September, traders told S&P Global Platts. This month, a further reduction …

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Lower SAMA Bills and Pensions “Good Sign” for Saudi Economy, Says Leading Economist

RIYAD: The monthly statistical report produced by the Saudi Central Bank (SAMA) revealed a decrease in SAMA bills and repo agreements. This is a good sign according to Mohamad Ramady, a London-based independent economist, who said: “It means banks are investing more abroad. [of SAMA], instead of placing their excess …

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Saudi Arabia sees state coffers fill up next year due to soaring oil prices | Oil and Gas News

Saudi Arabia is raising its revenue forecast for next year as oil prices soar amid a global energy crisis. Through Vivian Nereim and Matthew MartinBloomberg Saudi Arabia has raised its revenue expectations for next year and plans to reduce its budget deficit to 1.6% of economic output as rising oil …

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Saudi Central Bank extends SME loan relief program until December

The Saudi Arabian Central Bank has extended loan relief measures for small and medium-sized enterprises by three months. The measures were introduced last year to mitigate the effects of Covid-19 on the private sector and help small businesses weather the pandemic. The deferred payment program, which was established in March …

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OPEC + sticks to November production plans despite $ 80 worth of oil, sources say

The OPEC logo pictured before an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016. REUTERS / Ramzi Boudina LONDON / MOSCOW, September 29 (Reuters) – OPEC + is expected to stick to an existing deal to add 400,000 barrels …

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Alberta Energy ‘War Room’ Launches Times Square Ad and Expert Questions Campaign

Alberta’s Canadian Energy Center launched an advertising campaign in Times Square to promote the country’s oil and gas industry in the United States. Province’s so-called energy “war room” initiative spends $ 240,000 to make Canadian sector the solution for “cleaner energy and lower gas prices,” according to website . The …

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Aramco installation in Abqaiq added to prestigious WEF Global Lighthouse Network

DHAHRAN, Saudi Arabia, September 28, 2021 / PRNewswire / – The World Economic Forum recognized Aramco’s third facility, Abqaiq, for its pioneering adoption and integration of advanced technologies from the Fourth Industrial Revolution (4IR). The Abqaiq Oil Processing Plant, the world’s largest oil processing plant, joins Aramco’s Uthmaniyah Gas Plant …

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Oil prices: brace for $ 90 a barrel, according to Goldman Sachs

Goldman Sachs upped its already bullish forecast on Sunday, calling for Brent crude to hit $ 90 a barrel by year-end. That’s up from its previous call for $ 80. The Bank of Wall Street expects US crude to hit $ 87 a barrel, down from $ 77 previously. “Although …

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ADNOC completes book building for drilling unit IPO, raising more than $ 1.1 billion

An Emirati is seen near the ADNOC logo in Ruwais, United Arab Emirates on May 14, 2018. REUTERS / Christopher Pike / File Photo DUBAI, Sept. 27 (Reuters) – State-owned oil giant Abu Dhabi National Oil Co (ADNOC) has finalized the book-building for the initial public offering (IPO) of ADNOC …

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Ing. Al-Falih encourages joint investments at 5th Saudi-Kazakhstan Joint Committee meeting

RIYAD – Minister of Investment Ing. Khalid Bin Abdulaziz Al-Falih led a delegation of government officials and public sector representatives on an official visit to Kazakhstan, during which he met Kazakh President Kassym-Jomart Tokayev and Prime Minister Askar Mamin as the two sides discussed bilateral relations and joint cooperation and …

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MIDEAST STOCKS Chemicals and banking stocks boost Saudi index amid rising oil prices

An investor watches a screen displaying stock information on the Abu Dhabi Stock Exchange on June 25, 2014./File Photo Sept. 26 (Reuters) – Most of the major Gulf markets rose in early trading on Sunday, with Saudi stocks leading the gains, with physical and financial stocks providing a boost amid …

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Reliance board member Aramco I US pension fund to vote against Aramco chairman for Reliance board

Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF) and Chairman of Saudi Aramco | Photo credit: Twitter The California State Teachers’ Retirement Fund (CalSTRS) has decided to vote against the appointment of the chairman of Saudi Aramco as an independent director to the board of directors of Reliance Industries …

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California State Teachers Retirement Fund to Vote Against Aramco Chairman Yasir Othman Al Rumayyan for Reliance Board of Directors

The pension fund, which has assets worth more than $ 318 billion, owns about 53.07 lakh of fully and partially paid shares of Reliance Industries, according to its website. Our office | Bombay | Posted on 09.25.21, 01:47 AM The first sign of shareholder revolt was raised at Reliance Industries. …

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Iranian FM reports “serious progress” in talks with Saudi Arabia |

TEHRAN – Talks between regional rivals in the Middle East, Tehran and Riyadh, have led to “serious progress” on the issue of Gulf security, an official from Iran’s foreign ministry said. “Serious progress has been made on security in the Gulf,” the state-run IRNA news agency said Thursday, citing ministry …

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South Korea, Saudi Arabia agree to strengthen political cooperation in key industrial initiatives

Foreign Minister Chung Eui-yong (right) poses for a photo with his Saudi counterpart, Faisal bin Farhan Al Saud, during bilateral talks held on the sidelines of the United Nations General Assembly in New York on Thursday , in this photo provided by the Foreign Ministry. (Foreign ministry) Senior diplomats from …

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FIFA pushes for biennial World Cup amid member worries – Sportico.com

In an effort to get more of its members to support the idea of ​​a biennial World Cup, the main governing body of world football, FIFA, has invited all of its 211 members to an online summit that will have held on September 30. Opposition to the proposal has been …

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At the UN, Jordan and Saudi kings support the Palestinian state with East Jerusalem as its capital

The Kings of Jordan and Saudi Arabia used their speeches at the United Nations General Assembly on Wednesday to advocate a two-state solution to the Israeli-Palestinian conflict by creating a Palestinian state with East Jerusalem as its capital. The Jordanian monarch recalled the 11 days of fighting between Israel and …

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Saudi couple follow divorce hearing remotely from same living room

divorced Image Credit: Creative Commons Abu Dhabi: A Saudi husband was surprised by a message he received on his phone that a court hearing had been scheduled regarding a khula (divorce) action filed by his wife, although there was no had no sign of a troubled marriage. Khula is a …

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Saudi Arabia stocks drop as markets close; Tadawul All Share down 0.11% By Investing.com

© Reuters. Saudi Arabia stocks drop as markets close; Tadawul All Share down 0.11% Investing.com – Saudi Arabia stocks were down after Tuesday’s close, with losses in, and sectors pushing stocks down. At the close in Saudi Arabia, the decline of 0.11%. The best performers of the session on the …

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Saudi Arabia: new Jeddah-Mecca highway will serve 30 million pilgrims per year

Saudi road. For illustrative purposes only. Image Credit: Provided Abu Dhabi: The Saudi Ministry of Transport and Logistics is building the new 72 km Jeddah-Mecca highway, which has four lanes in each direction, and is designed to serve 30 million Umrah pilgrims each year, reported local media. The journey time …

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Ethanol Producer Magazine – The latest news and data on ethanol production

The key to cleaner, more affordable energy for American consumers does not lie in the oil fields of Saudi Arabia and Russia, but in the agricultural fields in the heart of our nation. Our leaders in Washington should look to American farmers for help. Anyone who has worked in the …

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Saudis arrest nearly 16,500 illegal immigrants in one week

Photo as an indication Image Credit: Pixabay Abu Dhabi: As many as 16,466 violators of residence, work and border security laws were arrested across Saudi Arabia between September 9 and 15, the interior ministry said. The arrests included 6,470 residence system violators, 8,182 border security violators and 1,814 labor law …

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The Museums Commission charts the course for the transformation of the sector

RIYAD – The Museums Commission has announced its strategy that will transform the sector with ambitious plans to increase the number and types of museums and visitors across the Kingdom. The plan will see Saudi Arabia’s museums focus on its cultural identity and translate it into a series of tangible …

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“Pakistan and Saudi Arabia bound by religion and region” – Journal

KARACHI: A book titled Pakistan’s Relations with Saudi Arabia by former Ambassador Shahid Amin was launched at the Institute of Business Management (IoBM) on Saturday afternoon. Speaking on the occasion, former Senator and Information Minister Javed Jabbar said the book was truly a distinguished contribution to a very limited range …

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Puri calls Saudi Arabia for second time in two months, Energy News, ET EnergyWorld

New Delhi: Oil Minister Hardeep Singh Puri on Friday called Saudi Oil Minister Abdul Aziz bin Salam Al Saud – the second such exchange in as many months – to discuss an energy partnership. “I had a warm exchange with HRH Abdul Aziz bin Salman Al Saud, Minister of Energy …

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Puri calls Saudi Arabia for the second time in two months

Outlook September 17, 2021 10:04 PM IST Puri calls Saudi Arabia for the second time in two months perspectivesinde.com 1970-01-01T05: 30: 00 + 0530 New Delhi, September 17 (PTI) Oil Minister Hardeep Singh Puri on Friday called Saudi Oil Minister Abdul Aziz bin Salam Al Saud – the second such …

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Guyana grants Saudi Aramco one-year contract to market crude oil

A view shows branded oil tanks at the Saudi Aramco oil facility in Abqaiq, Saudi Arabia, October 12, 2019. REUTERS / Maxim Shemetov GEORGETOWN, Sept. 16 (Reuters) – Guyana has awarded a unit of Saudi Arabian Oil Co (2222.SE), known as Aramco, a one-year contract to market the government’s share …

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Enemies in the Middle East give diplomacy a boost

Sep 18, 2021 DUBAI AND ISTANBUL IIT WAS A surprising choice for a summer vacation. On August 18, Tahnoon bin Zayed, the UAE’s national security adviser (United Arab Emirates), traveled to Ankara to meet Recep Tayyip Erdogan, President of Turkey. Countries have disagreed for years over Mr. Erdogan’s support for …

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Largest Saudi IPO Since Aramco Has Investors Scrambling For More

(Bloomberg) – Investment bankers have set aside a few weeks to generate interest in Saudi Arabia’s $ 1 billion initial public offering from Aramco. They only needed hours before they had excess orders. ACWA Power International’s $ 1.2 billion IPO, priced later this month, sparks great interest among investors looking …

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United States withdraws missile defenses in Saudi Arabia after Afghan withdrawal

A satellite photo provided by Planet Labs Inc. shows an area of ​​Prince Sultan Air Base in Saudi Arabia that has previously seen Patriot missile batteries stationed with a forward high altitude air defense unit at the empty terminal on September 10. 2021. / AP A satellite photo provided by …

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Two decades after 9/11, Saudi Arabia wants a softer image, Middle East News & Top Stories

RIYAD (AFP) – Two decades after Saudi activists organized and carried out the 9/11 attacks, the desert kingdom is striving for change as part of a reform campaign to update its ultra-conservative image . Women can drive, and cinemas have reopened in the “new” Saudi Arabia under Crown Prince and …

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Missile attack on Saudi oil region foiled – Saudi-led coalition

DUBAI, Sept. 4 (Reuters) – A ballistic missile attack targeting the oil-rich eastern region of Saudi Arabia was intercepted on Saturday, the Saudi-led coalition against the Houthi group in Yemen said in a statement disseminated by Saudi state media. The missile was intercepted over the town of Dammam, according to …

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Saudi Arabia begins locating education jobs

Saudi Arabia on Wednesday began the first phase of locating educational jobs in private schools and international schools for boys and girls. This corresponds to the decision of Minister of Human Resources and Social Development Ahmed Al-Rajhi last May. According to Al-Rajhi’s decision, the Kingdom aims to Saudi Arabia a …

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Book Review: “Oil Money” |

“Oil Money: Middle Eastern Petrodollars and the Transformation of the American Empire, 1967-1988” by David M. Wight. Cornell. 347 pages. $ 49.95. Review provided by the Washington Post. The history of modern international relations is inextricably linked with that of oil, the main post-war energy resource. Oil has been at …

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Iraq seeks counterterrorism role at Baghdad summit with Iran and Arab Gulf states

Iraq has taken steps to unite the Muslim world, inviting Shia Islamic Iran to join its next summit in Baghdad which it hopes will include Saudi Arabia and its Sunni Gulf allies. The move could represent a major shift in a relationship that has bordered on open conflict in recent …

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More than 900 companies join the “Made in Saudi” program with more than 2,000 products

Saudi Gazette report RIYAD – The Saudi Export Development Authority (SEDA) has revealed that the number of companies that have joined the “Made in Saudi” program has reached over 900, with more than 2,000 products registered to date, since its launch in March this year. year. There are 16 diverse …

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MIDEAST STOCKS Saudi Arabia Extends Losses on Weak Oil, Other Major Gulf Stock Exchanges Rise

Aug.22 (Reuters) – Most of the major Gulf stock markets ended higher on Sunday, as lower oil prices continued to put pressure on the Saudi index, extending losses for a second session. In Abu Dhabi, the index (.ADI) rose 0.8%, with the country’s largest lender, First Abu Dhabi Bank (FAB.AD) …

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Asia buys less Saudi crude as COVID restrictions return

Some Asian refiners named lower than normal crude oil volumes from Saudi Arabia in September, as authorities in China and the rest of Asia reimposed restrictions to combat the Delta variant push, have officials from four refineries said. Bloomberg. Aramco informed those four refineries – one in Southeast Asia and …

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Saudi Arabia’s non-oil revenues increase 31% to SR 116 billion in second quarter

Saudi Gazette report RIYAD – Saudi Arabia’s non-oil revenues increased 31%, reaching SR 116 billion in the second quarter of 2021. According to the budget review report released by the Ministry of Finance, the growth in oil revenues stood at 13%, reaching SR 132 billion during the same period. . …

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Saudi economy returns to growth after pandemic crisis

Saudi Arabia’s economy grew for the first time since the coronavirus pandemic in the second quarter, fueled by 10.1% growth in the non-oil sector, the government flash estimates on Monday. The data, which showed economic growth of 1.5% from a year ago, prompted economists to expect faster expansion in the …

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‘Low point’ in World Heritage Committee history as politics ‘trampled’ on human rights of the Karen people | Great Barrier Reef

Along Thailand’s border with Myanmar, in rich forests filled with rare plants and animals, the indigenous Karen people are fighting for the right to live on their traditional lands. Last month, the UN human rights agency said the Karens continued to be forcibly evicted from the forests of Kaeng Krachan. …

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Saudi oil challenged in Asia by coronavirus and cheaper alternatives

By Sharon cho on 8/6/2021 (Bloomberg) – Saudi Arabia’s decision to increase the cost of its oil in Asia could backfire, as an outbreak of the delta virus variant in China dampens demand, while the United States and the Russia offer alternatives at more competitive prices. Saudi Aramco has increased …

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Aramco in Saudi Arabia increases Asia, US oil prices indicate increased demand

Saudi Arabia raised oil prices for buyers in Asia and the United States for September, a sign that the world’s largest crude exporter sees demand continue to recover despite an increase in coronavirus cases in some of the major energy importers from the world. OPEC +, the Saudi-Russian-led group of …

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MIDEAST STOCKS Major Gulf stock exchanges mixed at the start of trading

An investor browses the Dubai financial market after Joe Biden won the US presidency, in Dubai, United Arab Emirates, November 8, 2020. REUTERS / Christopher Pike / File Photo Aug 3 (Reuters) – Major Gulf stock markets were mixed at the start of trading on Tuesday, with the Saudi index …

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Marsh launches Engineering Hub in Saudi Arabia, 3rd in MENA region

The Saudi city of Al Khobar is now home to Marsh’s third engineering center in the Middle East, aimed at helping regional energy companies manage risk. Oil industry expert Nick Holland takes charge of the new installation. Marsh Engineering Centers support energy, power and commercial real estate customers with personalized, …

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Saudis’ Motiva considers revival of multibillion-dollar plastics plan

Motiva Enterprises LLC plans to relaunch a multibillion-dollar expansion project at its Texas Gulf Coast refinery in 2023 that would produce petrochemicals used to make everything from plastic water bottles to bags grocery store. Engineering and excavation work had already been carried out before the project was shut down nearly …

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Saudi Arabia Construction Market Report 2021: Key Trends and Opportunities to 2025, Q2 2021 Update – ResearchAndMarkets.com

DUBLIN – (COMMERCIAL THREAD)–The “Construction in Saudi Arabia – Key Trends and Opportunities to 2025 (Q2 2021)” report was added to ResearchAndMarkets.com offer. The construction industry in Saudi Arabia is expected to recover in 2021, growing 2.9% in 2021, after contracting 0.4% in 2020. The industry is expected to continue …

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ICE Brent up 1.5% after Saudi Arabia reports no price wars

Saudi Aramco on Tuesday raised its official selling price of light Arab crude to Asian buyers by 80 cents per barrel (barrel), the largest monthly increase since January. Buyers in the United States will see smaller increases next month, with prices rising between 20 cents and 40 cents a barrel. …

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Column: Supercycle, which supercycle? Chinese imports of raw materials do not impress (Russell)

Workers drive loaders unloading imported coal at a port in Lianyungang, Jiangsu province, China, December 5, 2019. REUTERS / Stringer The bullish glow surrounding commodities may have lost its luster, with imports in May from the main Chinese buyer looking distinctly unimpressive and far from levels associated with a new …

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Saudi Arabia, Italy, Indonesia and Colombia host G20 anti-corruption event at UN

JEDDAH: Within Saudi Arabia’s Vision 2030 agenda is a plan to address environmental issues and implement sustainable solutions. Over the past five years, the Kingdom has made great strides in ‘going green’ initiatives that include everything from recycling to waste management. Earlier this year, five national environmental centers and an …

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Iran gears up to return to oil market as US talks advance

Iran gears up to boost global oil sales as talks to lift sanctions show signs of progress. But even if a deal is made, the flow of additional crude into the market can be gradual. State controlled National Iranian Oil Co. has primed the oil fields – and relationships with …

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Bold Prince firmly holds Saudi Aramco cash dispenser, the world’s most profitable company

Staredown: Crown Prince Mohammed bin Salman gives an interview to the official television station in Riyadh, Saudi Arabia on April 28, 2021. Anadolu Agency via Getty Images On track for $ 80 billion in revenue this year, Saudi Aramco retained its fifth place in the 2000 world rankings. Stocks trade …

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Saudi Crown Prince Mohammed bin Salman to give TV interview

Saudi Crown Prince Mohammed bin Salman is expected to give a television interview on Tuesday evening where he is expected to discuss developments on the fifth anniversary of the Kingdom’s Vision 2030 reform program. The interview with Al Liwan will air on Rotana Khalijiya TV station as well as state …

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Aramco Weighing sells stake in NatGas Pipelines | Rigzone

(Bloomberg) – Aramco is considering selling a stake in its vast pipeline network to help free up liquidity and attract more international investors to Saudi Arabia, people familiar with the matter said. The state-owned power producer is holding preliminary discussions on the potential move, people said, asking not to be …

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Support a new generation of customers

Changes in project finance in Saudi Arabia cause a shift in attitude towards spending and a new type of client emerges The landscape of the construction market in Saudi Arabia is changing rapidly and contractors need to be fitter, more agile and more resilient to adapt to new market conditions, …

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Saudi Red Sea project secures $ 3.8 billion ‘green’ loan for new hotels

By Yousef Saba, Saeed Azhar DUBAI, April 27 (Reuters) – Saudi Arabia’s flagship tourism developer The Red Sea Development Company (TRSDC) has raised a “ green ” loan of 14.12 billion riyal (3.77 billion dollars) from four Saudi banks for 16 new hotels, chief executive John Pagano told Reuters on …

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Alhokair adds Fnac Darty, Apple reseller and Decathlon stores across Saudi Arabia

RIYADH: Saudi Real Estate Refinance Company (SRC), the mortgage finance giant owned by the Kingdom’s sovereign wealth fund, the Public Investment Fund (PIF), is considering an international bond issue this year, possibly in the United States, its CEO told Arab News. The CBC last month issued a SR 4 billion …

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Aramco evaluates the sale of its stake in gas pipelines

Saudi Aramco is considering selling a stake in its extensive pipeline network to help free up money and attract more international investors to the kingdom, people familiar with the matter said. The state-owned power producer is holding preliminary talks on the potential move, people said, asking not to be identified …

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Counter-drone director talks about testing in Saudi Arabia and regional expansion

BEIRUT – The Saudi government knows from experience the threat posed by drones. The September 2019 attack on the Abqaiq and Khurais oil facilities by swarms of drones and low-level cruise missiles revealed a gap in the kingdom’s defenses, despite a mix of long, medium rigs. and short range. The …

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Who’s Who: Reem Alharbi, Head of LinkedIn Operations in Saudi Arabia

RIYADH: As Saudi Arabia’s Vision 2030 reform plan celebrates its fifth anniversary, citizens of the country are examining the many ways the ambitious plan has affected their daily lives. The overarching goal of the plan, which is to move the Kingdom away from an oil-based economy, caused the entire nation …

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Saudi Arabia’s switch to renewables could save it $ 200 billion

By Irina Slav – April 26, 2021, 1:00 p.m. CDT Saudi Arabia could save some $ 200 billion over the next decade by switching from crude oil to natural gas and renewables for power generation, Reuters reports, quoting the Kingdom’s finance minister. “Instead of buying fuel in international markets for …

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Saudi, US initiative for net zero oil producer arouses skepticism

Five countries responsible for 40% of oil and gas production have launched an unprecedented climate alliance – but leaving fuel in the ground is not on the agenda Five major oil and gas producing countries have created a “Net Zero Producers Forum”, as part of a new climate alliance covering …

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Lebanon urges Saudi Arabia to reconsider product ban

BEIRUT (AP) – Lebanon on Monday called on Saudi Arabia to reconsider its decision to ban Lebanese products from entering the oil-rich kingdom over a drug trafficking case. Officials have vowed to investigate and institute tough new measures. The announcement came after a meeting attended by the Lebanese president, prime …

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Saudi Arabia sends oxygen to India to overcome acute shortage

RIYADH: As Saudi Arabia’s Vision 2030 reform plan celebrates its fifth anniversary, citizens of the country are examining the many ways the ambitious plan has affected their daily lives. The overarching goal of the plan, which is to move the Kingdom away from an oil-based economy, caused the entire nation …

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Saudi Arabia crosses SR2 trillion foreign investment milestone in 2020 despite pandemic

RIYADH: Foreign investment in Saudi Arabia surpassed SR 2 trillion ($ 0.53 trillion) for the first time at the end of 2020, despite the financial impact of the COVID-19 pandemic. The total value of investment from abroad increased 9% year-on-year, to SR 173.3 billion, in 2020, compared to SR 1.833 …

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Saudi Arabia sees more than $ 200 billion in savings thanks to energy reform plan

RIYADH: Saudi Real Estate Refinance Company (SRC), the mortgage finance giant owned by the Kingdom’s sovereign wealth fund, the Public Investment Fund (PIF), is considering an international bond issue this year, possibly in the United States, its CEO told Arab News. The CBC last month issued a SR 4 billion …

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Saudi Arabia joins new climate change forum – State News Agency

General view of Saudi Aramco’s Ras Tanura Oil Refinery and Oil Terminal in Saudi Arabia on May 21, 2018. Photo taken on May 21, 2018. REUTERS / Ahmed Jadallah / Saudi Arabia will join the United States, Canada, Norway and Qatar in forming a new platform for oil and gas …

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