Saudi Arabia and Russia, two of the world’s largest oil producers, are divided on production strategy ahead of OPEC + meeting. Although the Middle Eastern country still sees uncertainty and favors keeping production stable, Russia wants to increase supplies, according to Bloomberg. OPEC +, which includes members of the Organization of the Petroleum Exporting Countries […]
Tag: Saudi Arabia
Spain praises the petromonarchies of the Persian Gulf and boasts Arab heritage to try to start investments
Praise to the petromonarchies and outstanding mentions of the Arab heritage of Spain. The Spanish Minister of Foreign Affairs, Arancha González Laya, has concluded this Wednesday its tour of the Persian Gulf without departing from the laudatory script designed to scratch investments from some of the most powerful sovereign wealth funds on the planet. “I […]
Biden’s stimulus plan will support better growth and better demand for US oil – Reuters
Early on Wednesday, analysts from the National Australia Bank (NAB) published their analysis of oil prices, shared by Reuters, noting that the stimulus plan announced by Joe Biden will support growth and demand for oil in the United States. While his initial optimism is based on US President-elect Joe Biden’s $ 1.9 trillion fiscal stimulus, […]
Spain also suspends its flights and the United Kingdom is isolated due to the new strain of coronavirus
At the end of last January, when the coronavirus was spreading across China but had not yet reached Europe, British Airways decided to suspend all its flights with the Asian country. It was the first airline to take this measure, which was to last until March. By then the virus had already roamed Europe, and […]
Terrorist attacks aim to stabilize the world’s energy supply
The Ministry of Energy of Saudi Arabia announced on Monday that a fuel transport ship in Jeddah port suffered a terrorist attack, Reuters reported, citing Saudi state media. According to a ministry official, the attack resulted in a small fire, which had been successfully extinguished. “The incident did not result in casualties, there was no […]
Saudi Aramco To Issue Bonds To Fund $75 Billion Dividend
The world’s largest oil company, Saudi Aramco, announced to sell billions of U.S dollar-denominated bonds for the first time since April of last year to meet its $75 billion dividend target.
The profits of the world’s largest oil company fall 45% as uncertainty about oil demand grows
One year after its hitherto historic IPO, the largest oil company in the world, the Saudi Aramco, suffers the setbacks from the drastic drop in consumption of crude oil caused by the Covid-19 pandemic. Its net profits plummeted 44.6 percent in the third quarter of this year while the company continues to borrow to maintain […]
Oil a ‘bigger problem for markets than the coronavirus’ after OPEC deal collapse
A derek pumps in an oil field in Kuwait near the Saudi Arabian border. Joe Raedle | Getty Images Oil prices plunged last week as OPEC and its allies failed to reach an agreement on production cuts, and as prices look set to continue cratering, some are warning about the impact on the broader economy. “Crude […]
Qasem Soleimani killing was a ‘wake-up call’ to Tehran: Prince Turki
The U.S. airstrike that killed Iran’s top commander showed Tehran that it can’t get away with its provocations, but won’t stop the country from continuing with its agenda, a former chief of Saudi intelligence told CNBC. “The taking out of (Qasem) Soleimani definitely has been an important step to check at least some of the […]
US slaps new sanctions on Iran following strikes on US targets
Secretary of State Mike Pompeo and Treasury Secretary Steven Mnuchin announced new sanctions Friday on Iran’s metal exports and eight senior Iranian officials. The penalties came days after Iran fired missiles at U.S. targets in Iraq in retaliation for an American airstrike in Baghdad that killed Iran’s top military leader, Qasem Soleimani, last week. After […]