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Saudi Arabia's Sahara Petrochemical Co said on Wednesday its subsidiary had fixed a technical fault at a utilities unit and was now working on restarting production.
Sahara, which ended merger talks with Saudi International Petrochemical Co (Sipchem) in June, said Aug. 17 a shutdown in polypropylene output had occurred at Al Waha Petrochemicals which could reduce third-quarter profit at the parent firm by nearly 9 million riyals ($2.4 million).
Given the elevated level of oil prices during the first half of 2014, Saudi Arabia is set to record another fiscal surplus, the National Commercial Bank further said in its latest Saudi Economic Review released Sunday.
Whatever the reason the White House wants us to think it was shocked—shocked!—that the Emiratis and Egyptians did this, the Obama administration should now move swiftly to capitalize on what could be a game-changer in the war against Islamist terror, and specifically against the Islamic State (IS, also known as ISIS or ISIL).
Saudi Aramco, the world's biggest oil producer, plans to invest $40 billion a year over the next decade to keep oil production capacity steady and double gas production, Chief Executive Khalid Al-Falih said. "Although our investments will span the value chain, the bulk will be in upstream, and increasingly from offshore, with the aim of maintaining our maximum sustained oil production capacity at twelve million barrels per day, while also doubling our gas production."
State media reports out of Tehran on Sunday said that the elite Iranian Revolutionary Guard had shot down an Israeli drone near the Natanz uranium enrichment site, home to Iran’s nuclear program. The downed aircraft was reportedly a stealth long-range surveillance drone designed to avoid radar detection.
The King Abdulaziz City for Science and Technology (KACST) announced that since the inception of the patent office in 1982, it has approved 3,500 patents since the inception of the patent office in 1982.
Egypt and the United Arab Emirates were responsible for carrying out two series of air strikes in the past week on armed Islamist factions in Tripoli, Libya, US officials said on Monday.
What Israel used in that Aug. 3 strike, according to the United Nations, was a Hellfire missile — a U.S.-made weapon. The incident was one of many in the ongoing six-week-old war in the Gaza Strip in which weapons sold to Israel by the United States and some European nations have played a prominent role.
The QFIs’ holdings may not exceed 10 percent of the market value, including interests under swaps, they said. The Saudi bourse has a market capitalization of more than $580 billion. “For Saudi to begin like this is a positive start,” Ahmed Badr, Dubai-based head of MENA equities at Renaissance Capital Ltd., said by phone. “It’s a big enough slice of the pie.”
The brazen robbery had all the elements of a Hollywood thriller: a commando-style ambush by a group of thieves wielding Kalashnikov rifles, a suitcase stuffed with cash, sensitive diplomatic documents and a likely shaken Saudi prince.
