Low Oil Prices Force Saudi Arabia To Cut 2021 Budget Plan
Saudi Arabia reduced its budget plan for 2021 by 7 percent from this year’s in response to the economic fallout of the pandemic, which pushed oil prices to multi-year lows. Continue Reading
Saudi Arabia Reins In Spending to Contain Deficit
Saudi Arabia King Salman bin Abdulaziz signed the 2021 state budget on Tuesday following a virtual cabinet meeting in Riyadh. Saudi Arabia plans to spend less next year to rein Continue Reading
Explosion At Saudi Port Damages Oil Tanker
An explosion rocked a Singapore-flagged oil tanker at the Saudi Red Sea port of Jeddah, according to multiple media reports. The United Kingdom Maritime Trade Operations website reported the incident Continue Reading
Explosion Hits Oil Tanker at Saudi Port
Saudi tankers pictured in a handout photo. An explosion hit a tanker docked in Saudi Arabia on Monday. An oil tanker docked at the Saudi port city of Jeddah was Continue Reading
Explosion at tanker discharging gasoline cargo at Jeddah
An LR1 tanker owned by Hafnia suffered an explosion early Dec. 14 while discharging a gasoline cargo at Saudi Arabia’s western port of Jeddah, sources with direct knowledge of the Continue Reading
Aramco To Sell Stakes In Subsidiaries To Raise Cash
Saudi Arabia is looking to plug budget gaps by having its state-run oil giant, Saudi Aramco, sell some stakes in its subsidiaries, according to anonymous Bloomberg sources. The Kingdom’s oil Continue Reading
Missiles, bullying claims, a tragic death: what’s going on at Saudi Aramco?
When Alwyn Whitcher took a job with Saudi Aramco in 2017, he believed he was joining a company with a history of valuing the expatriate engineers who helped build and Continue Reading
Saudi Arabia says resolution of Gulf dispute seems within reach
Saudi Arabia’s foreign minister said on Friday a resolution to a bitter dispute with Qatar seemed “within reach” after Kuwait announced progress towards ending a row that Washington says hampers Continue Reading
Saudi Wealth Fund Looks For $7 Billion Loan For ‘’Opportunistic Investments’’
The Public Investment Fund, the sovereign wealth fund of the world’s largest oil exporter Saudi Arabia, has contacted international banks for a loan of up to US$7 billion to use Continue Reading
Saudi Oil Exports To U.S. Slump To 35-Year Low
Saudi Arabia’s crude oil exports to the United States fell to the lowest in 35 years in October, averaging less than 100,000 bpd, Bloomberg reported , citing preliminary and historical Continue Reading