Saudi oil

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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