In a statement, U.S. President Donald Trump said, he expects Russia and Saudi Arabia to reach an agreement on crude oil production in the next few days, and end the price war between the two which has “ravaged” the oil… Read More ›
Saudi Arabia
Washington and Beijing to collaborate in G20 summit: South China Morning Post
In a report, the South China Morning Post said, the United States and China are expected to set aside their differences and focus on the challenges of controlling and stopping the pandemic when leaders of the G20 nations hold talks… Read More ›
Saudi Arabia’s price war on crude prices aims to punish Russia for not adhering to OPEC+ production cuts
On Monday, oil prices fell by nearly 30% after Saudi Arabia slashed oil prices and set plans for a significant increase in crude production from April. Following the Saudi move, oil prices fell by as much as a third after… Read More ›
Gold prices touch $1700 per ounce for the first time in 7 years
On Monday, for the first since late 2012, gold prices surged past $1,700 per ounce levels following a widening China’s coronavirus outbreak worldwide even as crude oil prices along with equities touched new lows as investors scurried for safe havens…. Read More ›
War risk premiums for tankers surge midst Middle East tensions
Although the United States and Iran have apparently both backed away from a military face-off, oil and gas shipowners are bracing themselves against a war of words which could see lead to asymmetric warfare in the Middle East, which in… Read More ›
Jointly operated Saudi-Kuwaiti oil field to produce 320,000 bpd by Dec. 2020
As per a report from Saudi-owned al-Arabiya TV, the Kingdom’s Khafji oil field, which is jointly operated with Kuwait, will produce 320,000 oil barrels per day (bpd) by the end of 2020. The announcement by was made by Prince Abdulaziz… Read More ›
Russian military exports unaffected by U.S. sanctions: Rostec CEO
On Monday, the head of Russia’s state conglomerate Rostec said, Russian military export sales have not been affected by U.S. sanctions. Following Russia’s annexation of Crimea from Ukraine along with other factors, the United States had imposed sanctions on Russia…. Read More ›
Aramco’s IPO likely to be launched on Nov 3: sources
The IPO, which is likely to be upwards of $20 billion, will be one of the biggest ever public offerings to hit the market. On Wednesday, in a statement Saudi Arabia’s energy minister said, the initial public offering (IPO) for… Read More ›
Russian investors keen to invest in Saudi Aramco’s IPO
The development underscores a growing closeness between Moscow and Riyadh. In a development that underscores growing trade relations between Saudi Arabia and Russia, Kirill Dmitriev, the chief executive officer of Russian sovereign wealth fund RDIF stated, a number of Russian… Read More ›
Saudi Arabia allows Iranian oil tanker, Happiness 1, to sail back to Iran
In the last few weeks, there has been rising tension revolving around Iran and oil tankers in the Persian gulf. In a development that could potentially ease rising tensions in the Gulf, Iran stated it appreciates Saudi Arabia’s efforts in… Read More ›
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