Iran’s Zarif: We will face any economic, military war efforts strongly

Iran’s Zarif: We will face any economic, military war efforts strongly

:: Tehran will defend itself against any war efforts, be they economic or military, Iranian Foreign Minister Mohammed Javad Zarif said, according to Iraqi TV during a visit to Baghdad on Sunday. More »

King Salman promotes, appoints 25 judges at various levels

King Salman promotes, appoints 25 judges at various levels

:: King Salman issued a royal decree on Monday promoting 25 judges at the Board of Grievances at various levels. The Kingdom is taking various measures to revolutionize its judicial system. Recently, More »

Saudi Arabia intercepts Houthi missiles heading toward Mecca, Jeddah

Saudi Arabia intercepts Houthi missiles heading toward Mecca, Jeddah

:: Saudi Arabia’s air forces on Monday intercepted two Houthi ballistic missiles over Taif, one heading for Mecca and the other for Jeddah, according to eyewitnesses. The Kingdom’s air defense forces were More »

Trump: If Iran wants to fight then that will be its official end

Trump: If Iran wants to fight then that will be its official end

:: US President Donald Trump threatened Iran in a tweet on Sunday, raising concerns about a potential US-Iran conflict at a time when tensions between Washington and Tehran have risen. “If Iran More »

Saudi Arabia’s Al-Jubeir: ‘We don’t want war but we will defend ourselves’

Saudi Arabia’s Al-Jubeir: ‘We don’t want war but we will defend ourselves’

:: Saudi Arabia is doing its best to avoid war in the region but stands ready to respond with “all strength and determination” to defend itself from any threat, the Kingdom’s top More »

 

Category Archives: Energy

Saudi’s Al-Falih says global oil market improving, stabilizing

:: The global oil market is improving and stabilizing, Saudi Oil Minister Khalid Al-Falih said in Baghdad on Saturday. In a speech at the opening of the Baghdad International Exhibition, Al-Falih praised the cooperation between Iraq and Saudi Arabia, which

Oil prices stable after OPEC signals possible further action

:: Oil prices stabilised on Monday after one of the most bearish weeks in months propped up by OPEC comments signalling the group and other producers may take further action to restore market balance in the long term. Oil production

Iraq oil minister says committed to respecting its OPEC production quota

:: Iraq is committed to respecting its reduced oil production quota as agreed with the OPEC and other exporters, Oil Minister Jabar Al-Luaibi told a news conference on Sunday in Baghdad. Al-Luaibi also said that talks are continuing with Royal

Lukoil to maintain oil production, investments outside Russia

:: Lukoil plans to keep pumping 100 million tons of oil per year between 2018 and 2027 with projects outside Russia and will keep annual investment at $8 billion (SR30 billion)-$8.5 billion, the chief executive said on Saturday. Lukoil, Russia’s

Saudi Arabia to allow international companies to install solar cells for power subscribers

:: The Kingdom will next Sunday begin receiving applications to install solar cells, with the Saudi Electricity and Co-Generation Regulatory Authority allowing international companies to register for the project’s auction. The initiative for using the new technology falls into “The

DEWA announces winning tender for world’s largest solar project

Sheikh Mohammed bin Rashid

:: The Dubai Electricity and Water Authority (DEWA) has announced the winning tender for the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site concentrated solar power project in the world. DEWA awarded the tender

Saudi Arabia confirms Aramco IPO; amendments to fiscal plans possible

:: Saudi Arabia confirmed that the initial public offering (IPO) of oil giant Aramco is on track and said that some amendments to plans related to the National Transformation Program (NTP) and Vision 2030 were possible. A statement issued by

Oil traders expect a tighter market in 2018

Hurricane Harvey

:: While the headlines have been dominated by the devastation wrought by Hurricane Harvey, oil traders have quietly become more bullish, or at least less bearish, about 2018. Brent calendar spreads have resumed their steady march from contango toward backwardation

Saudi Arabia to exceed renewable energy targets

Turki al-Shehri

:: Saudi Arabia aims to exceed its target to generate 9.5 gigawatts of electricity from renewable energy annually, to highlight its long-term commitment to green energy, a senior government official said. “We plan to exceed 9.5 gigawatts,” Turki al-Shehri, head

Saudi Arabia signs cooperation deals with China on nuclear energy

:: Saudi Arabia and China are to cooperate on nuclear energy projects following discussions between the two countries this week on ways to support the kingdom’s nuclear energy program, state news agency SPA reported. Saudi Arabia has been for years

Goldman Sachs seeks Saudi Aramco IPO role

:: Goldman Sachs has reportedly bought a portion of of Saudi Aramco’s $10 billion revolving credit facility in a move to seek a role in the listing of the company. The listing of 5 percent of the Saudi oil giant

Iraq gets loan from Japan to develop thermal power station

:: Iraq is promised to get a loan of $195 million from Japan to develop a thermal power station in Basra province, said an Iraqi government statement on Saturday. The loan was signed during a visit to Iraq by Japan’s

Is the US considering some sanctions on Venezuela oil sector

:: The Trump administration is considering imposing some US sanctions on Venezuela’s vital oil sector in response to Sunday’s election of a constitutional super-body that Washington has already denounced as a “sham” vote, US officials said. The measures, which could

Oil gains after Saudi vows to cap crude exports next month

:: Oil rose on Monday, erasing early losses after leading OPEC producer Saudi Arabia pledged to cut its exports to help speed the rebalancing of global supply and demand. Saudi Energy Minister Khalid Al-Falih said his country would limit crude

Oil ministers to meet in Russia as compliance focus turns to Africa

Essam Al-Marzouq

:: Oil exporters are set to meet in Russia on Monday to monitor compliance with production cuts as the focus turns toward output from Africa. Key OPEC and non-OPEC oil nations will discuss the situation in Libya and Nigeria at

1st phase of Aramco’s industrial city to be completed in 2021

Khalid Al-Falih

:: Saudi Energy Minister Khalid Al-Falih said the newly approved industrial energy city project will help localize industries supportive to the energy sector. He said the decision to establish a new energy city aligns with the Vision 2030 and supports

China, Pakistan experts discussing plans to set up nine special economic zones

:: Chinese and Pakistani experts are working on modalities for establishment of nine special economic zones (SEZs) alongside the China-Pakistan Economic Corridor (CPEC) mega project, a news report has revealed. According to a report in The News, the government has

Nigeria to put off deciding whether to join OPEC cuts, minister says

:: Nigeria supports OPEC’s efforts to stabilize oil prices, but it wants to wait before deciding whether join the alliance’s cuts in oil production, its oil minister said on Wednesday. “Hopefully, in the next two to three months we can

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