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  • Saudi Crown Prince Mohammed bin Salman in Top 10 World’s Most Powerful People
     

    Saudi Arabia’s Crown Prince Mohammed bin Salman has landed on the Forbes list of the world’s most powerful people for the first time, ranking the powerful young leader within the top 10. “There are 17 new names on the list this year, including Mohammed Bin Salman Al Saud (#8), the Crown Prince of Saudi Arabia,” Forbes writes. “His […]

     
  • Saudi Arabia Applauds Trump Decision on Iran Nuclear Deal
     

    Saudi Arabia has embraced President Trump’s decision yesterday to pull the United States out of the JCPoA, the agreement to curb Iran’s nuclear ambitions by offering sanctions relief in exchange for Iran’s compliance with non-proliferation standards, according to statements made by top Saudi officials and the Saudi Press Agency. As the chief rival of Iran in […]

     
  • For Oil Markets, ‘Volatility is Back’
     

    Rising optimism around global economic growth coupled with continued OPEC compliance to output targets and rising geopolitical tensions all contributed to pushing Brent oil prices to near 2014 highs, according to a recent report on the oil market by Riyadh-based Jadwa Investment. “Although oil prices were pressured somewhat at the start of April  due to trade tensions […]

     
  • Major Fossil Discovery in Saudi Arabia is 90,000 Years Old
     

    A recently discovered fossil finger bone dating back about 90,000 years that was unearthed in Saudi Arabia’s Nefud Desert is “pointing to what scientists are calling a new understanding of how our species came out of Africa en route to colonizing the world,” Reuters reports. The discovery, the middle bone of an adult’s middle finger, […]

     
  • Trump, King Salman Speak by Phone; Trump Urges End to Qatar Crisis
     

    President Trump and Saudi Arabia’s King Salman spoke by phone yesterday and discussed a number of regional issues, according to a readout of the call and wire reports. On the call, Trump “emphasized the importance of resolving the Gulf dispute and restoring a united Gulf Cooperation Council to counter Iranian malign influence and defeat terrorists and extremists.” The leaders […]

     
  • President Trump Calls King Salman, Urges End to Qatar Dispute
     

    President Trump and Saudi Arabia’s King Salman spoke by phone yesterday and discussed a number of regional issues, according to a readout of the call and wire reports. On the call, Trump “emphasized the importance of resolving the Gulf dispute and restoring a united Gulf Cooperation Council to counter Iranian malign influence and defeat terrorists and […]

     
  • Crown Prince Mohammed bin Salman Attends High-Powered Dinner in Los Angeles with Studio Brass, Stars
     

    Crown Prince Mohammed bin Salman and members of his entourage were welcomed to Hollywood last night with a high-powered dinner hosted by the Entertainment industry’s elite, according to a report in the Hollywood Reporter. An intimate dinner was held at Rupert Murdoch’s estate with Dwayne “The Rock” Johnson, Morgan Freeman, James Cameron, Michael Douglas, Disney CEO […]

     
  • Saudi Leadership Delighted at FTSE Inclusion for Tadawul; Billions Expected in Fresh Inflows
     

    The Saudi Arabian stock market will join FTSE Russell’s emerging market index starting in March next year in a move that will likely bring billions of dollars of fresh investment into the Kingdom, Reuters reports. Saudi Arabia’s Crown Prince Mohammed bin Salman and Finance Minister Mohammed Al-Jadaan met with the Mark Makepeace, chief executive of […]

     
  • Saudi Aramco IPO Delayed Until 2019, Financial Times Reports for Second Time
     

    Saudi Aramco’s long-awaited IPO “could be delayed until 2019 at the earliest,” the Financial Times reported on Sunday, citing British officials briefed on the matter. It is the second time the London-based newspaper was the first to report that the IPO would be delayed. The Financial Times reported the same news in September, but Saudi officials […]

     
  • Saudi Officials, Current and Former, Downplay Oil Demand Concerns
     

    Saudi officials downplayed the risk of waning demand for oil as electric vehicles become more mainstream, according to comments made by Saudi Aramco’s CEO Amin Nasser and by former Minister of Petroleum Ali Al Naimi. According to comments at the CERAWeek by IHS Markit conference on Tuesday reported by Bloomberg, Nasser said he is “not […]

     

MUST-READS

  • Saudi Aramco
    Saudi Aramco Said to Weigh Up to $5 Billion of Renewable Deals

    Saudi Aramco, the world’s largest oil company, is considering as much as $5 billion of investments in renewable energy firms as part of plans to diversify from crude production, according to people with knowledge of the matter.

  • Saudi Aramco IPO
    Saudi Aramco selects U.S. firms to audit its reserves for IPO: sources

    State oil giant Saudi Aramco has tasked two U.S. industry leaders in oil reserves auditing to review the content of its deposits as it pushes ahead with a share listing next year, industry sources said on Thursday.

  • Aramco IPO
    Saudi Aramco Hires Firm to Assess Oil Reserves Before IPO

    Saudi Arabia’s state oil company has hired an energy consultant to assess its reserves of crude oil, people familiar with the matter said, opening a window to a closely guarded secret ahead of its initial public offering.

  • Saudi Aramco
    Saudi Aramco Axes Plans for Petronas Joint Venture

    Saudi Arabian Oil Co., or Saudi Aramco, has given up plans to partner Malaysia’s national oil company for an up to 89 billion ringgit ($20.1 billion) refining and petrochemicals project in the southern state of Johor, according to three people familiar with the matter.

  • Aramco IPO
    Saudi Aramco asks banks to pitch for world’s largest share sale

    Oil and gas company Saudi Aramco has invited banks to pitch for an advisory position on what is expected to be the world's biggest initial public offering, sources familiar with the matter told Reuters on Tuesday.

  • Aramco IPO
    Saudi Aramco gets ready for ‘no ordinary IPO’

    Staff at Saudi Aramco have spent months untangling the company’s finances from those of the government, and separating its core oil operations from projects that reflect its broader role in Saudi society.

  • Saudi Aramco
    Saudi Aramco keeps up expansion pace with raft of contracts

    There have been some signs that budgets will be under less pressure in the year ahead but oil industry consultants at Wood Mackenzie estimate that global oil company capital expenditures (capex) for 2016 and 2017 combined will be about US$400 billion lower than in 2014.

  • Saudi Aramco
    Saudi Aramco awards McDermott an EPCI contract

    Saudi Aramco has awarded McDermott International a contract for the engineering, procurement, construction and installation (EPCI) of four jackets and three gas observation platforms offshore in the country.

  • Aramco IPO
    Tough road ahead for Saudi Aramco IPO plans

    "The potentially biggest IPO in history [of Aramco] is likely to be fraught with challenges and insiders continue to highlight that sorting these out could take a few years," Amrita Sen, the chief oil analyst at Energy Aspects, a consultancy, has said.

  • Wind Energy
    Saudi Aramco, GE to launch first wind turbine in Kingdom

    Saudi Aramco plans to commission its wind turbine pilot project, the first in the kingdom, next month, the state oil company said on Sunday, part of nationwide plans to diversify energy supplies and to meet an increase in demand.