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OPEC development fund outlines new strategy

OFID’s highest policy-making body, the Ministerial Council, approved during its 40th Annual Session in Vienna, Austria, the general principles of OFID’s new Strategic Framework. The new strategy affirms OFID’s commitment to providing support to developing countries – especially low-income countries – in an increasingly complex and challenging development landscape. At …

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Japan offers to help Saudi non-oil economy

Japanese Prime Minister Shinzo Abe on Sunday praised Saudi Arabia’s efforts to reduce its dependence on oil and promised Crown Prince Mohammed bin Salman that Japan will help the kingdom with a sweeping reform plan. “Saudi Arabia’s ‘Vision 2030’ is an unprecedented major reform aimed at shifting away from dependence …

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Dutch Queen in controversial meeting with MBS

A United Nations official on Saturday joined Dutch lawmakers in criticizing Queen Maxima over a meeting she held with Saudi Crown Prince Mohammed bin Salman on the sidelines of the G-20 summit in Osaka this week. U.N. rapporteur on extrajudicial executions Agnes Callamard told newspaper Algemeen Dagblad it was “more …

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Russia extending OPEC-deal with Saudis

Russia has agreed with Saudi Arabia to extend by six to nine months a deal with OPEC on reducing oil production, Russian President Vladimir Putin said. Putin, speaking after talks with Saudi Crown Prince Mohammed bin Salman, told a news conference the deal would be extended in its current form …

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Petronas and Saudi Aramco joint venture on track

Pengerang Refining and Petrochemical (PrefChem), a joint venture between Petronas and Saudi Aramco, is expected to restart a crude distillation unit at its oil refinery in Malaysia in July, three sources familiar with the matter said. The Pengerang Refining development, which is part of Petronas’ $27 billion Pengerang Integrated Complex, …

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Hothuis renew attacks on Saudi airports

Yemen’s Houthi movement launched an attack on Abha civilian airport in southern Saudi Arabia on Sunday that killed one person and wounded 21 others, the Saudi-led coalition battling the group in Yemen said. Houthi-run Al-Masirah TV earlier said that the Iran-aligned movement had targeted Abha and Jizan airports in the …

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Houthis attack Saudi powerplant with cruise missile

Yemen’s Iran-aligned Houthis struck a power station in Saudi Arabia’s al-Shuqaiq city, in the southern province of Jizan, with a cruise missile, their Al Masirah TV said on Wednesday, but there was no immediate confirmation from Saudi authorities. U.S. officials said they were aware of reports of a missile strike …

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Pompeo also not keen on Iran war

While it is “unmistakable” that Iran was responsible for the attacks on two tankers last week, the United States does not want to go to war with Tehran, U.S. Secretary of State Mike Pompeo said on Sunday. In an interview with “Fox News Sunday”, Pompeo said, “President Trump has done …

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Houthis repeat drone attacks on Saudi

Yemen’s Houthi movement launched fresh drone attacks targeting Jizan and Abha airports in southern Saudi Arabia, the group’s Al-Masirah TV said on Saturday, adding the installations were out of service. The Saudi-led coalition said in a statement that it had intercepted and downed a Houthi drone targeting the southwestern city …

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26 killed in Yemeni missile attack on Saudi airport

The Saudi-led military coalition vowed to respond firmly to a missile attack by Yemeni Houthi forces on a civilian airport in southern Saudi Arabia on Wednesday which wounded 26 people. The Western-backed, Sunni Muslim alliance that has been battling the Iran-aligned Houthi movement in Yemen said the early morning attack …

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