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Al-Falih Says Vision 2030’s Impact on Saudi Economy is Visible in 66% Increase in GDP
Saudi Arabia’s Minister of Investment, HE Khalid Al-Falih, said that the Kingdom’s gross domestic product (GDP) has increased by 66 percent since the launch of Saudi Arabia’s Vision 2030.
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Todd Albert Nims, traction on green hydrogen, a $1 trillion economy and much more in The 966 Episode 69
Episode 69! Merry Christmas and happy holidays to our subscribers and listeners who celebrate. The 966 hosts kick off the second annual “Christmas spectacular” with a discussion of green hydrogen and news that Germany may be on of Saudi Arabia’s first big customers, and a discussion of Saudi Arabia as a $1 trillion (!) economy. […]
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Saudi Arabia Signs $30 Billion Worth of Investment Agreements with South Korea
South Korean and Saudi Arabian leaders signed investment agreements worth at least $30 billion with South Korean companies in a major push to strengthen ties between the two nations, according to reports.
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MBZ takes the reins in the UAE, the PIF’s Saudi Coffee Co., and much more…
Episode 44 📈 The hosts talk about the UAE’s long-time de facto ruler Sheikh Mohamed bin Zayed Al Nahyan, who was elected as president of the UAE a day after the death of former leader Sheikh Khalifa. They also discuss Saudi Arabia’s Public Investment Fund’s (PIF) new venture into the nascent coffee sector in caffeine-thirsty […]
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SABIC, Exxon Mobil JV on Gulf Coast Prepares for Initial Startup – Report
Saudi petrochemicals firm SABIC said on Sunday its joint venture project with ExxonMobil in the U.S. Gulf Coast has started commissioning activities and preparing for an initial startup, according to Reuters.
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SABIC’s Profit Surges in 2Q Amid Booming Demand for Petrochemical Products
Saudi-based petrochemicals giant SABIC hit a $2 billion quarterly profit in the second quarter of this year as a healthy global demand for its products drove sales, according to reports. SABIC also said it expects this solid performance to continue in the second half of 2021, “backed by healthy demand and rising oil prices,” according to Reuters.
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Saudi Arabia’s Economy Jolts to Life as New Economic Data Shows ‘Significant’ Increase in PMI, Non-Oil Exports
Saudi Arabia saw a significant increase in non-oil PMI in April 2021 as both business activity and new orders grew at a faster rate, Jadwa Investment’s recently-released Chartbook for the month said.
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US-based Railcar Company Greenbrier the Latest to Move Regional HQ to Riyadh
US-based railcar company Greenbrier is one of the latest American companies to be moving or building their regional Headquarters in Riyadh, the company said, as it looks to profit off the opportunities presented by the Kingdom’s Vision 2030 economic and social reform plans. The NYSE-listed Greenbrier is one of 24 companies that have recently agreed […]
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Saudi Aramco, SABIC ‘Reassess’ $20b Crude-Oil-To-Chemicals Project — Reports
Saudi Aramco and Saudi Basic Industries Corporation (SABIC) have decided to re-evaluate their $20 billion crude-oil-to-chemicals project and are now looking at integrating existing facilities instead, in a move to save costs in the face of lower oil prices, according to Reuters.
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Saudi Aramco Completes Acquisition of 70% Stake in SABIC with Purchase of 2.1 Billion Shares on Tadawul
State-owned Saudi Aramco bought 2.1 billion shares of Saudi Basic Industries (SABIC) on the Tadawul, the Kingdom’s stock market, on Sunday, completing its deal to buy 70% of the petrochemical giant, according to a report in Reuters.
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Aramco, TotalEnergies sign $11 bln contract to build petrochemicals complex in Saudi
Saudi Arabia’s Aramco and TotalEnergies have signed an $11 billion contract to start building a new petrochemicals complex in the Kingdom, the two companies say in a joint statement. “Aramco and TotalEnergies today awarded Engineering, Procurement and Construction (EPC) contracts for the $11 billion ‘Amiral’ complex, a future world-scale petrochemicals facility expansion at the SATORP refinery in the Kingdom of Saudi Arabia," the statement read.
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Saudi Arabia to shift more oil output to making higher value petrochemicals
Saudi Arabia plans to allocate more than a third of its current oil output to chemical production by 2030 in a bid to squeeze more value from its barrels as the world shifts toward a low-carbon economy.
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Saudi Arabia to shift more oil output to making higher value petrochemicals
Saudi Arabia plans to allocate more than a third of its current oil output to chemical production by 2030 in a bid to squeeze more value from its barrels as the world shifts toward a low-carbon economy. The biggest crude exporter aims to convert 4 million barrels a day into higher-value products such as plastics and fertilizers by the end of the decade, Aramco Chief Executive Officer Amin Nasser said at an event in Riyadh Tuesday. It’s a shift that will require huge investment in its petrochemicals facilities.
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Saudi SABIC plans petrochemicals plant in Jubail – CEO to Asharq TV
Saudi Basic Industries Corporation (SABIC) (2010.SE) plans to build a petrochemicals plant in the city of Jubail on the gulf coast in the Eastern Province, after a similar plant in South Korea starts production by year-end, CEO Yousef Abdullah al-Benyan told Asharq TV on Tuesday. Al-Benyan added that the company views the Korean market as an opportunity to expand in Asia.
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Saudi petrochemicals producer SABIC posts fivefold profit jump
Petrochemicals giant Saudi Basic Industries Corp (SABIC) (2010.SE) on Thursday reported a fivefold increase in third-quarter profit helped by higher average selling prices. SABIC reported a post-tax profit of 5.6 billion riyals ($1.5 billion), up from 1.1 billion riyals a year earlier but missing a 6.1 billion riyal consensus from estimates by four analysts compiled by Refinitiv.
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Ambani’s Reliance Invests in Abu Dhabi Petrochemicals Hub
Reliance Industries Ltd. is planning to invest in petrochemical facilities in Abu Dhabi as it strengthens energy ties with the Middle East and taps into the region’s vast hydrocarbon resources. The Indian conglomerate plans to join projects at Abu Dhabi National Oil Co.’s Ruwais refining hub to produce chemicals that can be used for infrastructure and consumer goods, according to a statement.
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Iraq’s oil minister says Saudi companies interested in gas, petrochemicals projects in country
Representatives from Saudi companies including officials from petrochemical giant Sabic, Saudi Aramco and water and electricity firm ACWA Power attended the meeting, while Iraqi participants included the electricity minister and the head of the National Investment Commission. Saudi companies are particularly interested in various projects, including the development of the Akkaz and Ratawi gas fields and Nebras petrochemical project.
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The Future of the Petrochemicals Industry and Sino-Saudi Cooperation
Slowed economic growth, increased price volatility of feedstocks, intensified geopolitics and trade barriers, growing concern over health, safety and environment (HSE) standards, among other disrupters, are driving changes in the petrochemical industry.
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Saudi petrochemicals giant SABIC hires NCB for speciality chemicals unit IPO – sources
Saudi Basic Industries Corp (SABIC) has hired NCB Capital to advise on a potential listing of its speciality chemicals business, an offering that could raise several hundred million dollars, three sources said.
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Saudi Arabia’s monetary authority issues new 5 riyal polymer banknote made from Saudi petrochemicals
The note was also made to withstand different conditions, such as different temperatures and moisture, and not to be damaged when folded. The new note, that is also resistant to dirt, was made from Saudi petrochemical materials.
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