Category: Saudi Arabia

Saudi Arabia’s economy contracted for a fifth straight quarter but the slump eased, according to estimates released on Tuesday by the statistics authority. Gross domestic product shrank 4.2%, still battered by Continue Reading

By reporting a 44.6% decrease in profits in Q3 2020, Aramco has put a major damper on Saudi Arabia’s economic diversification strategies and overall stability. Saudi Aramco reported that its Continue Reading

Saudi Aramco left its third-quarter dividend unchanged at $18.75 billion even as it failed to generate enough cash to cover the payout and reported a 45% drop in profit. The world’s Continue Reading

Saudi Aramco failed to generate enough cash to cover its dividend, yet left the payout unchanged at $18.75 billion for the third quarter even as profit fell 45% and debt Continue Reading

The worst of the oil market is behind us, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said on Monday at CERAWeek’s India Energy Forum. “We are still vigilant. I Continue Reading

Getting rid of oil and gas is “far-fetched and unrealistic,” Saudi Energy Minister, Prince Abdulaziz bin Salman, said on Monday, adding that companies and governments should be thinking about how Continue Reading

The Islamic State has called on its members to start targeting Saudi Arabia oil infrastructure as punishment for the Kingdom warming up to Israel. “Targets are plenty…Start by hitting and Continue Reading

Nine months on from Saudi Arabia’s second major oil price war in the last five years, more negative consequences are manifesting themselves. Aside from the irrevocably damaged core relationship with Continue Reading

Saudi Aramco and Saudi Basic Industries Corporation (SABIC) have decided to reevaluate their crude-oil-to-chemicals project in Yanbu on the kingdom’s west coast, according to an Oct. 18 statement on the Continue Reading