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Tag Archives: Aramco

Saudi intercept Houthis missiles from Yemen

The Saudi-led military coalition in Yemen said on Saturday it had intercepted and destroyed a ballistic missile targeting the Saudi Arabian border city of Najran. In a statement issued via the Saudi Arabian state news agency, the coalition said that the missile was fired from the Yemeni city of Saada, …

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Oil price plundge forces Arab, African petro-pegs

Oil’s $30 price plunge this week has sharply increased strains on a number of pegged currencies in energy-exporting emerging markets, above all in Nigeria and Oman where currencies have come under pressure in forward markets. The coronavirus threat to an already fragile global economy and an oil price war between …

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Russia and Saudi in oil war

Saudi Arabia said on Tuesday it would increase its crude oil supply to a record high, raising the stakes in its price war with Russia and effectively rejecting Moscow’s overtures for new talks. The clash of the two oil titans sparked a 25% slump in oil prices on Monday, triggering …

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Saudi Aramco garners orders worth $38.4 billion

Saudi Aramco has received orders worth 144.1 billion riyals ($38.4 billion) for the institutional tranche of its planned initial public offering (IPO), its financial advisers said in a joint statement on Monday. The institutional bookbuilding began on Nov. 17 and investors have until Dec. 4 to place orders. Aramco plans …

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Saudi Arabia in defence talks with US

Saudi Arabia’s deputy defense minister said on Thursday he discussed regional security and military cooperation with senior U.S. government officials at a time of heightened tension with Iran following last month’s attacks on Saudi oil facilities. Saudi Arabia and the United States blamed common foe Tehran for the Sept. 14 …

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ADNOC and Saudi Aramco sign framework agreement

The Abu Dhabi National Oil Company, ADNOC, signed, today, a framework agreement with Saudi Aramco, to explore potential opportunities for collaboration in the natural gas and liquefied natural gas, LNG, sectors. The cooperation brings together two of the world’s leading energy producers from the Arabian Gulf to work together in …

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Saudi Aramco IPO should go according to plan

Saudi Aramco Chief Executive Officer Amin Nasser said the initial public offering of the state-oil producer will “certainly” happen when the conditions are right. Saudi Aramco said it is still in discussions to buy a stake in petrochemicals company Saudi Basic Industries Corp. (Sabic) from the kingdom’s sovereigh wealth fund, …

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Shifting sands: What is changing in Saudi Arabia?

Saudi Arabia’s Crown Prince Mohammed bin Salman has ordered a crackdown on corruption, the latest in a wave of frenetic changes in the kingdom over the past 2-1/2 years. Prince Mohammed says he is determined to remodel his conservative country into a modern state no longer dependent on oil. As …

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