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Crown Prince Mohammed bin Salman Arrives in India for Next Stop of Asia Tour
- February 20,2019
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in India for the second stop on a three-country tour of Asian nations as the Kingdom looks to boost relationships and trade opportunities in the East. India “rolled out the red carpet for the crown prince,” Reuters reports, amid simmering tensions with neighboring Pakistan following a militant attack in […]
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Al-Falih: ‘Going forward the world is going to be Saudi Aramco’s playground’
- February 12,2019
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- SUSTG Team
In a new interview with the Financial Times, Saudi Arabia’s powerful minister of energy, industry, and mineral resources Khalid Al-Falih indicated that Saudi Aramco would take on an active position as investor in resource opportunities outside the Kingdom of Saudi Arabia. Saudi Arabia’s state-owned energy company, Saudi Aramco, will seek to develop an international energy […]
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Ambitious Saudi Entertainment Push Announced by GEA’s Turki al-Sheikh
- January 23,2019
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- SUSTG Team
Saudi Arabia is looking to maintain heavy investment in the entertainment sector in 2019, according to comments made by a top Saudi official, as it looks to make good on key Vision 2030 economic reforms. Reuters reports that Saudi Arabia’s recently named chairman of the General Entertainment Authority, Turki al-Sheikh, said the Kingdom would put on […]
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Saudi Arabia, Other Gulf Nations to Join JPMorgan Chase & Co.’s Emerging-Market Bond Indexes
- January 18,2019
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- SUSTG Team
Saudi Arabia and four other Gulf nations will join JPMorgan Chase & Co.’s emerging-market bond indexes this month, Bloomberg reports, “potentially paving the way for billions of dollars in inflows into the securities.” The debt offerings from Saudi Arabia, Qatar, the United Arab Emirates, Bahrain and Kuwait will represent about 11.8 percent of the EMBI Global […]
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Saudi Arabia Eyes Major Domestic Energy Conservation by 2030, Al Falih Says
- January 15,2019
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- SUSTG Team
Saudi Arabia expects to throttle back domestic energy consumption by 2030 by up to the equivalent of 2m barrels of oil per day, in line with the Kingdom’s Vision 2030 economic and social reform initiative, according to comments made by Khalid Al-Falih published by Reuters. Saudi Arabia has long used easily extracted oil reserves for […]
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A Gradual Pickup in Private Sector Lending in Saudi Arabia Seen in Monetary Update
- January 11,2019
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- SUSTG Team
A recently-released report by Jadwa Investment finds a gradual pickup in private sector lending since April 2018 after showing a slowdown in 2017 and Q1 2018. The Monetary and Financial Update report from the Riyadh-based Jadwa looks at the Kingdom’s monetary policy and other key economic data. Jadwa Investment sees “a rising level of uncertainty” in the […]
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Saudi Arabia Seeks Balanced Budget by 2023 – Al Jadaan
- December 20,2018
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- SUSTG Team
Saudi Arabia’s finance minister told Reuters on Wednesday he was “unconcerned with current oil prices impacting spending plans in 2019″ and the government still aims to close its budget deficit by 2023 – though the target is not set in stone. The government unveiled a $295 billion budget on Tuesday, the kingdom’s largest, with a […]
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Saudi Government ‘Rejects’ U.S. Senate Rulings on Saudi Arabia But Pledges to Continue Building Relationship
- December 17,2018
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- SUSTG Team
The government of Saudi Arabia issued a statement condemning a recent U.S. Senate resolution blaming Crown Prince Mohammed bin Salman for the killing of journalist Jamal Khashoggi, and said the government rejects external interference in its affairs. The Senate measure, which passed in a rare bipartisan vote with unanimous approval on Thursday, was a sweeping condemnation of Crown […]
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OPEC, Russia Will Cut 1.2 million Barrels of Oil Production a Day; Price Jumps
- December 7,2018
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- SUSTG Team
OPEC and Russia have agreed to collectively throttle back oil production by 1.2 million barrels per day to dry up a global supply glut, according to energy reporters from the Wall Street Journal. OPEC nations would cut 800,000 barrels and the Russia-led group would handle the remainder, according to the WSJ. Oil prices on indices […]
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Saudi Aramco CEO: ‘We Need a Major Acquisition For Us to Be In Different Markets Quickly’
- November 26,2018
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- SUSTG Team
In an interview with Bloomberg, Saudi Aramco’s CEO Amin Nasser said the company is earmarking $500 billion to invest over the next 10 years, including $160 billion for natural gas developments and $100 billion for chemicals projects. The interview, given in Dhahran, Saudi Arabia, said the planned spending would come on top of the already planned purchase of a […]
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MUST-READS
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Saudi-EgyptSaudi Aramco resumes Egypt oil deliveries
"On Friday and Saturday, we received the first two deliveries after a resumption of the contract with Aramco," oil ministry spokesman Hamdi Abdel Aziz told AFP. "We will receive another two deliveries on Mar 26 and 27."
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King Salman in AsiaSaudi king’s Asia tour trumpets Aramco’s moves downstream
The string of deals inked on his three-week tour to Malaysia, Indonesia, Japan and China also point to a fresh strategy, one to increase Saudi leverage over refined product and petrochemical markets, known as the downstream sector.
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Saudi Aramco IPONasdaq CEO says tech partnership can help win $100 billion Saudi Aramco IPO
Nasdaq Inc is touting its technology credentials in its effort to win the listing of Saudi Aramco's upcoming initial public offering, the exchange operator's chief executive said in an interview.
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Saudi Aramco IPOThe battle to list Saudi Aramco
Stock exchanges around the world are limbering up to win the multibillion-dollar listing of Saudi Arabia's state-owned oil company
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Motiva SplitSaudi Aramco, Royal Dutch Shell finalize deal to split up Motiva Enterprises
As part of the final deal, Saudi Aramco will pay $2.2 billion, including the assumption of Shell’s $1.5 billion portion of Motiva’s debt, according to a press release from Shell. As of Dec. 31, Motiva’s net debt was $3.2 billion, of which Shell will assume only $100 million.
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Saudi Aramco IPOPerspective: Saudi Aramco Should Stay Out of the Sun
Valuation is a tricky thing to explain, but I am guessing investors aren't discounting Rosneft because they want it to embrace wind power in a big way. Rather, as with other national oil companies, there are understandable concerns about investing in what is, essentially, a privatized arm of the government.
- Nasdaq - Saudi Aramco's listing process going according to plans
- Reuters - Burning less oil at home will help Saudi exports and Aramco IPO
- ExxonMobil - ExxonMobil Plans Investments of $20 Billion to Expand Manufacturing in U.S. Gulf Region
- Houston Chronicle - What the Saudi Aramco sale says about the state of the oil industry
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MotivaShell clinches $2.2bn from Saudi Aramco in US refinery break-up
Royal Dutch Shell has secured $2.2bn (£1.8bn) from Saudi Aramco following a year of tense talks over the break-up of the pair’s Motiva refinery joint venture.
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Saudi AramcoSaudi Aramco’s Green Energy Push Seen Widening Appeal of IPO
“They immediately open themselves up to a larger pool of investors,” said Scott Gehsmann, partner at the deal advisory service of the accounting and consulting firm PwC. “If a company is looking at raising capital, they typically must have a strategy around sustainability. If they don’t have one, it can be perceived as a negative.”
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Saudi Aramco IPOFunds expect Saudi Aramco to be valued around $1-1.5 trillion: survey
Fund managers and institutional investors expect oil giant Saudi Aramco to have a market capitalization of $1 trillion to $1.5 trillion when it sells shares to the public next year, a survey by regional investment bank EFG Hermes showed on Monday.
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King Salman in AsiaSaudi king’s Asia trip shows the way for Aramco’s trade plans
King Salman’s tour of Asia is significant. The majority of Saudi Arabia’s non-oil exports end up there, as do two-thirds of its oil exports. The economic path and development of Asia will have a major effect on Saudi Arabia’s trade profile. The trip can be divided into two parts: South East Asia (Malaysia, Indonesia and Brunei) and the Far East (China and Japan).
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