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Published time: 26 Oct, 2017 09:35 Russia wants to be an investor in Saudi Arabia’s project to build the Neom megacity, which will be 33 times bigger than New York City. The project will be financed by the Saudi government and private investors and powered entirely by wind and solar energy. “The Russian Direct Investment […]
Alexei Nikolsky/Pool Photo/AP Saudi King Salman bin Abdulaziz Al Saud visited Moscow last Wednesday, the first such visit by a Saudi monarch since the Soviet Union collapsed. Two topics dominated the agenda: Syria and oil. Saudi Arabia has likely found itself in the uncomfortable position of accepting Assad’s grip on power into the future in […]
AP/Hasan Jamali Saudi Arabia’s strategy in the Middle East has for years focused on throwing money at majority Sunni states and groups in the region to counter Iranian influence. But its fiscal constraints started to limit its ability to project power even in the Arabian Peninsula. Funding Sunni jihadist groups has not had the desired outcome. […]
David McNew/Getty Images Revamped Iranian oil production and US hydraulic fracturing operations has Saudi Arabia’s control of the global oil supply “on the ropes,” according to Bloomberg’s Sam Wilkin. The Saudi-led Organization of Petroleum Exporting Countries (OPEC) will meet Thursday to work out a plan to cut global oil supplies and boost prices, but OPEC […]
Reuters/Fahad Shadeed Oil prices have given up some of the gains achieved since the OPEC deal was agreed to in late November, and confidence in the buoyancy of crude prices is starting to falter. There are plenty of reasons why: U.S. shale is coming back; OPEC cuts led to higher prices in December, but have […]
REUTERS/Faisal Al Nasser DUBAI (Reuters) – Saudi Deputy Crown Prince Mohammed bin Salman left Saudi Arabia on Monday for the United States for a visit scheduled to include talks with U.S. President Donald Trump, the Royal Court said in a statement carried by state news agency SPA. It will be the first meeting between the […]
Ali Jarekji/Reuters Saudi Arabia’s oil giant Saudi Aramco has hired four banks as advisers to its first bond sale, possibly by June this year, ahead of a planned initial public offering next year, Bloomberg reported on Monday, quoting people familiar with the matter. Aramco has picked HSBC Holdings’ local unit HSBC Saudi Arabia, as well […]
