Tag Archives: saudi arabia

Aramco health adds spice to Saudi yuan dilemma

The Saudi Aramco logo is pictured at an oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov Join now for FREE unlimited access to Reuters.com Register LONDON, March 21 (Reuters Breakingviews) – Saudi Aramco (2222.SE) is giving Mohammed bin Salman some extra firepower in his fight against Joe …

Read More »

Aramco rises in times of crisis

Aramco rises in times of crisis Despite all the challenges such as oil price volatility, uncertainty caused by the ongoing Russian-Ukrainian crisis and the economic slowdown resulting from the pandemic, Saudi Aramco remains among the top performers in the energy league. The oil giant’s performance is evident in its 2021 …

Read More »

Saudi crude exports hit 21-month high in January – JODI

FILE PHOTO: Flames are seen at Saudi Aramco’s Shaybah oilfield production site in the Empty Quarter, Saudi Arabia May 22, 2018. REUTERS/Ahmed Jadallah Join now for FREE unlimited access to Reuters.com Register March 18 (Reuters) – Saudi Arabia‘s crude oil exports in January reached 6.996 million barrels per day (bpd), …

Read More »

Saudi Arabia’s human rights record could be neglected over need for cheap oil, groups say

LONDON – Saudi Arabia’s mass execution of 81 people in one day, condemned by activist groups as a “massacre”, has sparked fresh fears that the kingdom’s human rights record is on the mend again. ignored in the context of the global energy crisis. The Saudi Interior Ministry said the men …

Read More »

Britain’s Johnson urges Saudi Arabia to increase oil production, minister says

LONDON, March 14 (Reuters) – British Prime Minister Boris Johnson is trying to persuade Saudi Arabia to increase oil production, a senior minister said on Monday, following reports that Johnson is heading to the weight heavyweight from OPEC this week. Saudi Arabia and the United Arab Emirates have so far …

Read More »

Oil could experience its biggest supply shock since 1973

The global oil market was already tight before Russia’s invasion of Ukraine, but Putin’s war and its aftermath on Russian crude supply and energy prices has the potential to send the market into a shock. major supply chain comparable to the Arab oil embargo of 1973. Oil inventories in major …

Read More »

Saudi Arabia. Boris Johnson’s visit for oil talks – as kingdom announces execution of 81 | world news

Boris Johnson is set to travel to Saudi Arabia next week for oil talks as he tries to extricate the UK from dependence on energy supplies from Russia. Although Downing Street insists the trip is not finalized or confirmed, the Prime Minister faces calls from Tory MPs to intervene to …

Read More »

UK oil prices – live: Drivers pay ‘incredibly high’ costs as RAC says diesel ‘on track to reach £1.70 a litre’

Drivers queue for fuel in England as motorists are hit by rising oil and diesel prices With average petrol and diesel costs hitting record highs in the UK, drivers will see ‘unbelievably high prices on the forecourts’, the RAC has warned, as petrol has reached over £2 a liter in …

Read More »

Saudi-American operation rescues American women from Sanaa

ISLAMABAD: Pakistani painter Rabia Zakir, who this week became the first international artist to hold a solo exhibition in Medina on International Women’s Day, hailed Crown Prince Mohammed bin Salman’s Vision 2030 reform plans to promote arts and culture in Saudi Arabia. Zakir is well known in diplomatic circles for …

Read More »

Staples: Alberta offers a way out of North America’s chaotic energy policy

Breadcrumb Links Politics national Columnists Energy security is the most burning domestic issue in the United States right now. Biden and his Democrats are reportedly considering importing more oil from dictatorships like Venezuela, Saudi Arabia and Iran. Publication date : March 09, 2022 • 57 minutes ago • 3 minute …

Read More »

Saudi local industry secured $21 billion in investment in 2021 – minister

RIYADH, March 7 (Reuters) – Saudi Arabia attracted 81 billion riyals ($21.6 billion) of investment in the industrial sector in 2021, both for the private sector and for joint ventures with government entities, said the Saudi Minister of Industry on Monday. The kingdom has set lofty goals to diversify its …

Read More »

How the Giant Saudi Wealth Fund is building a post-oil future: QuickTake

1. What does PIF invest in? Its biggest holdings are still in local companies such as the Saudi National Bank, Saudi Telecom Co. and national projects like Neom, a $500 billion city-state that would run entirely on renewable energy and export energy. ‘green energy. Since 2016, when it committed $45 …

Read More »

Oil prices rise as fears over Russian crude supply escalate

Oil prices continued to climb on Wednesday as markets braced for severe disruptions in crude supplies from Russia as Moscow’s invasion of Ukraine continues. The global benchmark, Brent crude, climbed as high as $113 a barrel on Wednesday, just days after breaking the triple-digit mark for the first time in …

Read More »

Saudi Arabia could raise April crude prices to Asia to historic highs

A view shows branded oil tanks at the Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov Join now for FREE unlimited access to Reuters.com Register SINGAPORE, March 2 (Reuters) – Saudi Arabia, the world’s biggest oil exporter, could sharply raise crude prices for Asia in …

Read More »

Wheat prices up 5% as Ukraine crisis threatens global supply chains

RIYADH: Saudi Arabia has announced the establishment of its first electric vehicle manufacturing plant in the country, with the government planning to ensure that 30% of all vehicles in the capital, Riyadh, run on electricity by 2030 . This is another step towards promoting a sustainable lifestyle in the Kingdom …

Read More »

The Crown Prince receives a phone call from the French President

RIYADH/JEDDAH: Ukrainians living in Saudi Arabia watch the news, worried for the safety of family and friends, and alarmed by events in their home country. “Missiles, sirens all the time, explosions in this area and bomb shelters,” said Kateryna Tkachenko, 23, from Ukraine, who lives in Jeddah. “That’s all the …

Read More »

United States or Russia? The crisis poses a dilemma for the wealthy in the Gulf

Growing ties with Moscow are forcing Gulf states to strike a balance. UNITED ARAB EMIRATES: Choosing sides in the Ukraine crisis would once have been easy for Gulf states long protected by the United States, but growing ties with Moscow are forcing them to strike a balance. As the world …

Read More »

Germany approves $14.7 billion package amid rising energy costs; hydrogen will become a market of 1 billion dollars per year: NRG counts

Green energy is the future, but demand for oil and gas is here to stay: Zamil Group CEO Oil-real estate investment firm Zamil Group plans to enter the renewable energy market, company CEO Adib Al Zamil said. “Investing in new sectors is what kept us going as a group. We …

Read More »

Saudi Arabia denounces short-sighted campaign against oil

The world’s biggest oil exporter, Saudi Arabia, has repeatedly said it wants to be the producer that pumps out the very last barrel of oil. In the meantime, the world and its growing economy will still need oil and gas, even as renewable energy capacity soars globally. The rebound of …

Read More »

Oil prices swing as Russia threatens Ukraine

Uncertainty sent oil prices soaring at Sunday’s trade open as more Russian troops massed on Ukraine’s borders, but fell later overnight as reports said the President Biden would consider direct talks with his Russian counterpart as long as Russia does not invade. Oil prices had remained essentially flat over the …

Read More »

Oil prices up sharply for 8th time – Manila Bulletin

With global oil prices rising slightly, heavy domestic oil pump cost adjustments are again expected next week for this year’s 8th round. Based on last week’s international trade results, it was estimated that petrol prices will increase by P0.95 to P1.05 per litre; diesel from P0.55 to P0.65 per litre; …

Read More »

Electric SUV racing comes to Saudi Arabia’s NEOM

An electric sport utility vehicle (SUV) race will start tomorrow in Saudi Arabia. The Extreme E Desert X Price go running from February 19 to 20 at the site of the planned futuristic city of NEOM in northwestern Saudi Arabia. The race features electric SUVs, driven by teams of two. …

Read More »

russia: Explained: How much oil, gas and coal India imports from Russia

LONDON: As the Ukraine-Russia crisis escalates and threatens to ignite conflict in Europe, analysts warn there could be implications for Asia, where several countries depend on Russia for oil, gas and coal. Any invasion of Ukraine by Russian troops could trigger sanctions and retaliation that would disrupt the movement of …

Read More »

Cabinet welcomes U.S. commitment to support Saudi Arabia

Riyadh — The Cabinet, chaired by the Custodian of the Two Holy Mosques, King Salman, at Al-Yamamah Palace here on Tuesday, commended the President of the United States for expressing the United States’ commitment to supporting Saudi Arabia in its defense of its lands and citizens and to meet the …

Read More »

Saudi Arabia transfers $80 billion worth of Aramco shares to state fund

A 3D printed gas pipeline is placed in front of the Saudi Aramco logo displayed in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration Join now for FREE unlimited access to Reuters.com Register DUBAI, Feb 13 (Reuters) – Saudi Crown Prince Mohammed bin Salman has transferred 4% of Saudi Aramco …

Read More »

Saudi Arabia is in full transformation

Many now agree that our common ethic, until recently, had taken a turn over the past three decades, and not necessarily for the better. Whether it was work, business, or social ethics, our general behavior had changed. And many pundits will be quick to point out that it was the …

Read More »

OPEC sees higher oil demand forecast for 2022 thanks to strong pandemic recovery

Crude oil storage tanks are seen from above at the Cushing Petroleum Center, appearing to run out of space to hold a historic supply glut that has driven prices up, in Cushing, Oklahoma March 24, 2016. Photo taken March 24, 2016. REUTERS/ Nick Oxford // File photo Join now for …

Read More »

Global shipping rates weigh on profits at Saudi shipping giant Bahri

RIYADH: Saudi Arabia plans to create a globally competitive industrial sector by converting 4,000 factories to use fourth industrial revolution, 4IR technology. The sector’s new strategy will focus on increasing locally sourced inputs, as well as adopting 4IR technologies, Minister of Industry and Mineral Resources Bandar Alkhorayef said at a …

Read More »

Zuraida: The government is committed to protecting the long-term interests of the palm oil industry

KUALA LUMPUR (5 February): The Ministry of Industries and Plantation Products (MPIC) will continue to work hard to ensure that the long-term interests of the palm oil industry are safeguarded and to help smallholders d palm oil and other stakeholders. This is despite US and EU sanctions imposed on Malaysian …

Read More »

US policy in Yemen is still wrong

Last week, Brett McGurk, the White House Middle East coordinator, summed up the millions of people suffering in Yemen in a false binary in which Washington did everything for peace. He claimed that the Houthi rebels in Yemen are responsible for the continuation of this seven-year conflict which has become …

Read More »

Aramco announces the launch of Prosperity7 Ventures

DHAHRAN — Saudi Aramco on Tuesday officially announced the launch of Prosperity7 Ventures, a billion-dollar venture capital fund. The fund has been operational for more than a year, but was officially launched on Tuesday by Aramco Chief Technology Officer Ahmad Al-Khowaiter at the LEAP 22 technology conference in Riyadh. Prosperity7 …

Read More »

Ampo Poyam Valves signs supply agreement with Aramco

Ampo Poyam Valves recently signed a Corporate Supply Agreement (CPA) with Aramco covering a partnership on the development and supply of highly technical valves as well as ad-hoc and high value-added services. The agreement also includes the provision of technical support during start-up, commissioning, engineering solutions, equipment selection, preventive and …

Read More »

M’sia signs a memorandum of understanding with the Saudi group Savola to increase palm oil exports

PUTRAJAYA: Malaysia will sign a Memorandum of Understanding (MoU) with Saudi-based Savola Group on three areas of cooperation to further enhance Malaysian palm oil exports to the region, the Ministry of Plantation Industries and Commodities (MPIC) has announced. ). In a statement released today, the ministry said that among the …

Read More »

Saudi Aramco CEO says energy transition ‘not going smoothly’

Saudi Arabia, the world’s largest oil exporter, aims to achieve net-zero greenhouse gas emissions by 2060 DUBAI, United Arab Emirates – Saudi Aramco Chief Executive Amin Nasser said on Thursday (January 27th) oil and gas investments are needed to accompany new energy investments until they can realistically sustain the increase …

Read More »

Saudi Arabia may raise crude oil prices in March for Asia

Flames emerge from a pipeline in the Basra oil fields, southeast of Baghdad, September 30, 2016. REUTERS/Essam Al-Sudani Join now for FREE unlimited access to Reuters.com Register Arab Light Crude March OSP could rise 60 cents/barrel – survey Improved jetting, fuel margins to support light grades SINGAPORE, Jan 26 (Reuters) …

Read More »

International decision gains momentum to classify the Houthis as a terrorist group — Ambassador Al-Jaber

Okaz/Saudi Official Gazette Riyadh — Saudi Arabia’s Ambassador to Yemen, Muhammad Al-Jaber, said a major international initiative was gaining momentum to classify the Houthi militia as a terrorist group. In an interview with Okaz/Saudi Gazette, he stressed that the Houthi terror group is not only a threat to Yemenis, Saudi …

Read More »

Saudi Arabia’s ambitious space program gives a taste of exciting collaborations to come

JEDDAH: Over half a century ago, Neil Armstrong and Buzz Aldrin became the first to set foot on the surface of the moon. Since this historic milestone, governments, scientists and now entrepreneurs have set their sights on more distant and ambitious goals. From Jeff Bezos’ forays into space tourism with …

Read More »

Newsmaker: Abdulaziz Bin Salman — Crude and Covid, Volatility and Virus

The most fundamental law of economics is that of supply and demand. When supply is high, prices are low. And when demand is high, prices are high. The modern global economy, so interconnected and dependent on every component, has never really had to deal with the economic laws that have …

Read More »

‘Nothing wrong’ with Saudi investment in golf

ENGLISH GOLFER PAUL Casey on Wednesday defended Saudi Arabia’s $200million injection to revive the Asian Tour, following criticism of the deal over the oil-rich kingdom’s human rights record man. Speaking ahead of this week’s SMBC Singapore Open, where he finished tied for second in 2019, Casey praised the funding from …

Read More »

OLIVER HOLT: Newcastle players should watch their steps on grim Saudi Arabia tour

OLIVER HOLT: Newcastle players should watch their steps on a bleak tour of Saudi Arabia… pranking like in Marbella 20 years ago won’t sit well with Crown Prince Mohammed bin Salman Newcastle United squad travel to Saudi Arabia for mid-season break On a similar trip 20 years ago, Craig Bellamy …

Read More »

Geopolitical risks to watch this winter

By Editorial Dept – January 14, 2022, 12:30 PM CST A single attack on oil at this point could push prices up to $90, but that will depend on where it is. Markets will weigh more heavily on some geopolitical sentiments than others. And there’s plenty to choose from right …

Read More »

OPEC Plus and other oil producers fail to meet demand

Nearly two years ago, global oil producers halted and drastically reduced production as the pandemic gripped global economies. The sharp decline was accompanied by an implicit promise that as factories reopen and planes return to the air, the oil industry will also rebound, gradually ramping up production to help economies …

Read More »

Can the world avoid a global oil supply crisis?

Europe’s gas crisis has been in the headlines for months now, and for good reason – the continent is still struggling to get enough power for its winter needs. But there could be a worse crisis threatening the world, and that would be an oil crisis. The signs are there …

Read More »

Aramco gains a foothold in Russia’s backyard with Polish oil deal | OPEC News

Aramco, the world’s largest oil company, will buy 30% of a refinery on the Baltic coast, as well as a wholesale unit of fuel. Through Anthony Di Paola and Maciej MartewiczBloomberg Posted on January 12, 2022Jan 12, 2022 Saudi Aramco‘s deal to supply nearly half of Poland’s oil will give …

Read More »

China is the only winner in this huge Iraqi oil field

Iraqi Petroleum Minister Ihsan Abdul Jabbar’s statement last week that the newly resurrected Iraqi National Oil Company (INOC) has received government approval to acquire ExxonMobil’s 32.7% stake in the oil field supergiant West Qurna 1 for up to $ 350 million is likely to leave China elated, the United States …

Read More »

Saudi Arabia’s cement market will grow by 1.66 million tons | Evolving opportunities with Al Safwa Ltd. and Arabian Cement Co. SAE

Read the 120-page report with TOC on “Cement market at Saudi Arabia Analysis report by Application (Residential & Commercial) and Geography (Central, West, South & East) and Segment Forecast, 2021-2025 “. Get competitive insights from market leaders. Track key opportunities, trends and Industry threats Information on marketing, sales, branding, market …

Read More »

Creation of an Arab music institute in Saudi Arabia

RIYAD: Zara Rutherford, who is trying to be the youngest woman to tour the world solo, touched down at Riyadh’s King Khalid International Airport on Thursday aboard her Shark light plane. “I am 100% honest about Saudi Arabia in terms of natural beauty. I don’t think I saw anything like …

Read More »

Crude Oil Market Size 2022-2028 Industry Share, Growth Analysis, Regional Demand, Major Manufacturers – Gulf Oil, Saudi Aramco, Chevron Corporation, Shell, Suncor Energy

The Crude Oil Market Report is a perfect basis for people looking for a comprehensive study and analysis of the Crude Oil Market. This report contains diverse study and information that will help you understand your niche and key market channel concentration in the regional and global Crude Oil market. …

Read More »

2021 Solid Sulfur Market Size Analysis by Major Key Players

New Jersey, United States, – The Global Solid Sulfur Market report comprises the in-depth analysis which covers key regional trends, market dynamics, and provides the market size at the national level of the market industry. Some major aspects considered during the research included product description, product classification, industry structure, various …

Read More »

F / A-18 Hornets strengthen US presence in Saudi Arabia

Marine Fighter Attack Squadron 115, or VMFA-115, the “Silver Eagles”, has deployed its F / A-18C / D Hornet fighters to Prince Sultan Air Base in central Saudi Arabia to bolster the continued presence. of the United States Central Command (CENTCOM) in the country. The arrival of the United States …

Read More »

Steel Pipe Oil And Natural Gas Drilling And Transmission Market Recent Developments And Emerging Trends Until 2027

Growth Forecast Report on ‘Market Size of Oil and Natural Gas Drilling and Transmission Steel Pipe | Industry segment by applications (drilling, transmission, regional and country level analysis, the oil and natural gas drilling and transmission market is analyzed and market size information is provided by regions (countries) ., Key …

Read More »

Saudi Arabia KSrelief sends tons of humanitarian aid to Kabul

Outlook 2022: Saudi Arabia’s booming entertainment sector is just beginning RIYAD: For some three decades, entertainment venues, from cinemas to concert halls, have been locked down across Saudi Arabia, depriving citizens and visitors of outlets to enjoy cultural, sporting and artistic activities in public All of that started to change …

Read More »

Yemen calls on UN Security Council to hold Saudi Arabia and its arms suppliers to account for devastating war

Yemeni National Salvation Government Foreign Minister Hisham Sharaf Abdullah called on the UN Security Council to hold Saudi Arabia and its arms suppliers to account in accordance with international law for their crimes of war in this Arab country in crisis. Abdullah, in identical letters to rotating Security Council President …

Read More »

Gulf economies headed for budget surpluses with some help from oil

Apart from the financial reforms and the volume of non-oil investments announced by the GCC countries, the growth of the oil and non-oil sectors will exceed recent forecasts. Image Credit: Pixabay / Gulf News What would be the Gulf’s economic prospects for 2022? This is a question asked by everyone, …

Read More »

Are these waves of change or a whitewash as Saudi Arabia soaks up the spotlight?

Jeddah. Saudi Arabia: “It could never have happened two years ago,” was the constant refrain of the Red Sea Film Festival, which was held this month in Jeddah, Saudi Arabia. It was certainly true. A 35-year cinema ban was only lifted in 2018. Earlier this year, the kingdom hosted its …

Read More »

Saudi Arabia appears to be building its own ballistic missiles with help from China

Saudi Arabia is building its own ballistic missiles with help from China, according to US intelligence assessments and satellite images. The assessment of the American intelligence agencies is that the kingdom, which would have long acquired missiles in Beijing, is now manufacturing its own, according to a source familiar with …

Read More »

PIF-backed Roshn and NHC sign pact to develop housing communities in Saudi Arabia

Roshn, Saudi Arabia’s largest developer owned by the kingdom’s Public Investment Fund, and the National Housing Company have signed a preliminary agreement to jointly build residential communities to meet the growing demand for housing in the country. The agreement forges a “lasting and pivotal relationship between the two companies … …

Read More »

Saudi Startups Record Best Quarter Ever for Third Quarter Fundraising, Magnitt Says

Start-ups in Saudi Arabia recorded their best quarter of fundraising in the three months ending September 30, attracting $ 205 million in 34 deals, according to data platform Magnitt. Venture capital investments in the kingdom’s start-ups more than quadrupled in the third quarter of 2021, compared to the same period …

Read More »

Saudi Arabia resets foreign policy, economy and society – lessons for Pakistan

As America’s influence weakened in Afghanistan and Iraq following its withdrawal, the Kingdom of Saudi Arabia (KSA) is well positioned to play a notable role in the greater Middle East. The unprecedented meeting of OIC Foreign Ministers on December 19 in Islamabad is being held at Riyadh’s request on one …

Read More »

Omicron Covid variant to reduce global oil demand, IEA says

A tanker truck drives past oil well pump jacks operated by Chevron Corp. in San Ardo, California, United States, on Tuesday, April 27, 2021. David Paul Morris | Bloomberg | Getty Images Oil demand is expected to fall below expectations next year, the International Energy Agency said on Tuesday, as …

Read More »

Oil weighs on Saudi stocks, Dubai wins for seventh day

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 Register now for FREE and unlimited access to reuters.com Register now December 9 (Reuters) – The Saudi stock market ended lower on Thursday, following …

Read More »

Is shale gas a game-changer for Saudi Arabia?

The first major contracts for Saudi Arabia’s Jafurah field – allegedly the largest shale gas field outside the United States – were awarded last week, as the Kingdom aims to become the third largest gas producer natural to the world by 2030, to the point where it could even become …

Read More »

Mobily appoints former Saudi transport minister Al-Amudi as new president

Saudi and Omani companies unveil $ 10 billion worth of deals as Crown Prince Mohammed bin Salman begins visit RIYAD: On the eve of Saudi Crown Prince Mohammed bin Salman’s arrival in Muscat, Saudi Arabia and Oman signed 13 memoranda of understanding, valued at over $ 10 billion and covering …

Read More »

ARAMCO and GAUSSIN sign a partnership to join forces in the hydrogen vehicle sector

Gaussin aims to establish a modern manufacturing plant for hydrogen vehicles “Made in Saudi Arabia” Aramco sponsors the first hydrogen-powered truck to participate in the Dakar rally, during the January 2022 Dakar rally in Saudi Arabia DHAHRAN, Saudi Arabia & HERICOURT, France, December 06, 2021– (COMMERCIAL THREAD) – ARAMCO, one …

Read More »

Pakistan receives $ 3 billion deposit from Saudi Arabia

KARACHI: The State Bank of Pakistan received a $ 3 billion deposit from Saudi Arabia on Saturday to support foreign exchange reserves. “Good news, a $ 3 billion Saudi deposit received by SBP,” Prime Minister’s Finance Advisor Shaukat Tarin said in a tweet on Saturday. “I would like to thank …

Read More »

OPEC was in decline. Soon he might be more powerful than ever

But with the demand for crude rising as the impact of the pandemic wears off, that no longer appears to be the case. OPEC +, which brings together the Organization of the Petroleum Exporting Countries and allies like Russia, is once again showing dynamism. the group refusal of membership calls …

Read More »

Saudi justice ministry praises female employees

Online platform for research chairs hailed as key development for Saudi universities MAKKAH: The recent launch of an online platform for research chairs in universities in Saudi Arabia is an innovative step, experts said, which aims to improve the management of research and innovation in Saudi universities and encourage the …

Read More »

Saudi Arabian GP is just starting to make the kingdom a motorsport powerhouse

Saudi Arabia is preparing to host its first Grand Prix this weekend to mark the start of an ambitious 20-year plan to create the kingdom’s own squad, future world champion and automaker. The penultimate race of the F1 season, on December 5, will transform Jeddah, a city on the Red …

Read More »

Oil-producing countries sell billions of green bonds

It wasn’t that long ago that green investing was associated with a warm moral glow, but it wasn’t the mainstream – not by far. However, growing climate awareness, growing policy change, and investors demanding environmentally and socially conscious options are transforming this, and while this is still not mainstream, it …

Read More »

S&P Revises Bahrain’s Outlook to Stable on Tax Reforms and Rising Oil Prices

S&P Global Ratings revised Bahrain’s outlook from stable to negative as the Gulf country undertakes tax reforms to strengthen its economy. Rising oil prices along with support from other GCC members are also expected to help the country improve its fiscal position. The rating agency confirmed Bahrain’s long and short-term …

Read More »

Saudi Arabia applies spending cap despite oil revenues – Eurasia Review

By Shatha Almasoudijana and Sallouum Ruba Alrashed Saudi Arabia, which last month reported a surplus from its first quarterly budget surplus since the first quarter of 2019, is enforcing spending restrictions even as oil prices trade near their multi-year high. Saudi Arabia’s finance ministry has started enforcing the spending cap …

Read More »

Saudi non-oil exports increase 28.4% in third quarter 2021

The vast Red Sea project encompasses urban development, mass tourism and the “greening” of an entire region – in addition to the cultural dimension: a major potential for around 7 million diving tourists to Saudi Arabia. No less than 1,600 archaeological sites have been identified in the region, 20 of …

Read More »

US wants more oil, but OPEC + can’t turn on the tap much harder

LONDON: US pressure on OPEC + to pump more oil and cool scorching crude prices has highlighted a relatively new problem for the producer group: it doesn’t have much extra capacity to ramp up production faster , even if he wanted to. The Organization of the Petroleum Exporting Countries and …

Read More »

No “competition” between Saudi Arabia and United Arab Emirates: senior Mubadala official

RIYAD: “Buy now, pay later” is gaining popularity in Saudi Arabia as the country’s young population embraces new personal finance ideas, according to a senior executive at the Dubai-based tabby shopping platform. Speaking to Arab News, the company’s managing director for the Kingdom, Abdulaziz Saja, said a traditional mistrust of …

Read More »

Saudi women’s rights activist who found freedom and horror on the internet

Born into a devout Muslim family in Saudi Arabia, Manal al-Sharif spent her childhood feeling that women were second-class citizens. In her small world, every piece of information she encountered was carefully organized, censored in such a way as to crush any spirit of rebellion. Thanks to the Internet, which …

Read More »

Dubai Expo 2020 pavilion in Saudi Arabia records 1 million visits

DJEDDAH: Contemporary artists and architects flock to the heart of historic downtown Jeddah to present works that illustrate the city’s first major phase of urban development in a new exhibition, dating back to ‘where and when’ it all began. The exhibition entitled “Saudi Modern” addresses the narrative of architecture and …

Read More »

Saudi PIF nearly triples holdings of US equities; adds Walmart, Pinterest

DUBAI, Nov. 15 (Reuters) – The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, nearly tripled its holdings of listed shares in the United States to $ 43.45 billion in the third quarter, adding shares of the Alibaba group, Walmart (WMT.N) and Pinterest (PINS.N). Its holdings of U.S.-listed stocks …

Read More »

Saudi Arabia denies playing climate saboteur in Glasgow

GLASGOW, Scotland: The tightest of smiles on his face and the fabric of his traditional thobe swirling around him as he walks through a hallway during UN climate talks, the Saudi Energy Minister voices his shock at repeated complaints that the world’s largest oil producer is working behind the scenes …

Read More »

Kuwait sends false messages to Saudi Arabia and Hezbollah |

KUWAIT CITY – The government of Kuwait tendered its resignation on Monday to the country’s Emir Sheikh Nawaf Al-Ahmad Al-Sabah, a day after approving a controversial amnesty bill, which includes the easing of sentences for members of an armed group affiliated with the Lebanese Shiite Hezbollah Movement, known as the …

Read More »

Oil wins after US infrastructure bill passes, Chinese exports rise

Crude oil storage tanks are seen from above at the Cushing Oil Hub in Cushing, Oklahoma on March 24, 2016. REUTERS / Nick Oxford TOKYO, Nov. 8 (Reuters) – Oil prices rose on Monday amid positive signs of global economic growth, supporting energy demand, as Saudi state producer Aramco raised …

Read More »

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 …

Read More »

Biden helpless as OPEC + meets in Vienna

Tension between Washington and OPEC + oil producers is mounting as the cartel meets today in Vienna to discuss its agreement to control production. For now, all signals from OPEC + indicate that it is unwilling to add more barrels to the global supply despite calls and demands from the …

Read More »

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 …

Read More »

Press review: Russia’s future in the battle against climate change and the United States seeks to challenge OPEC + – Press review

Izvestia: Russia’s future in the fight against climate change Preserving forests and other natural ecosystems plays a decisive role in the fight against global warming, Russian President Vladimir Putin said in his video message to participants of the Glasgow Climate Conference (COP26). He stressed that Russia intends to halt greenhouse …

Read More »

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, …

Read More »

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 …

Read More »

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 …

Read More »

Biden pushes G20 energy-producing countries to increase production

ROME, October 30 (Reuters) – US President Joe Biden on Saturday urged key G20 energy-producing countries with slack capacity to step up production to ensure a stronger global economic recovery amid a broader effort to put pressure on OPEC and its partners to increase oil supply. With soaring oil and …

Read More »

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 …

Read More »

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 …

Read More »

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 …

Read More »

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 …

Read More »

What is behind Saudi Arabia’s pivot to natural gas?

Saudi Aramco’s request for bids from local and international companies for the construction of a water desalination plant project in the Jafurah shale gas field highlights the Kingdom’s claims to be at the forefront of the global energy transition to cleaner energy through reduced carbon emissions. As with many of …

Read More »

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 …

Read More »

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 …

Read More »

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 …

Read More »

5 energy stocks to watch as the earnings season approaches

Profit season is here again, with almost 10% of S&P 500 companies that published results in the third quarter of 2021. According to FactSet data, 80% reported actual EPS higher than estimates, with profits 14.7% higher than Wall Street estimates. No energy company has yet submitted its third quarter 2021 …

Read More »

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 …

Read More »

What a global energy crisis means for North American stocks

Imagine that a few years ago, in early 2014, Vladimir Putin threw a coin into a wishing well and demanded a more favorable market for Russian oil and gas, their main source of foreign exchange. Just seven years ago, after the Russian invasion and takeover of Crimea, the country was …

Read More »

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 …

Read More »