Energy Minister Al-Falih says oil market intervention is unnecessary Saudi Arabian Energy Minister Khalid Al-Falih has effectively ruled out the possibility that major oil producers will agree a production cut next month, Reuters reported on 25 August. “We don’t believe…
Tag: Saudi Arabia
Saudi Arabia aims for autumn float for international bonds
Saudi Arabia is planning to invite bids for $10bn worth of international bonds after September, Bloomberg has reported. This will be Saudi Arabia’s first international bond issue. The borrowing will be the largest by a Middle East sovereign in the…
IMF says GDP and current account to be better than expected
Saudi Arabia’s GDP and current account will both perform better in 2016 than had been previously expected, figures contained in the IMF’s initial statement on its annual Article IV consultation with the kingdom suggest. The statement was published on the…
Saudi bond issue could be $20bn
Saudi Arabia’s Finance Minister Ibrahim al-Asaf For full coverage of Middle East business, see MEED Saudi Arabia’s planned international bond issue could be as big as $20bn, making it by far the largest single financial operation in Middle East history,…
Gulf trims nuclear power plans
Emirates Nuclear Energy Corporation is due to start operating in 2017 For full coverage of Middle East business, see MEED Ambitious plans for nuclear energy in the Gulf are foundering on technical and political challenges and the rise of renewables…
Saudi Arabia aims to lift gas consumption
For full coverage of Middle East business, see MEED Saudi Aramco aims to increase the share of gas in the domestic energy mix to 70 per cent and could import gas to meet the kingdom’s needs, Saudi Arabia’s Energy Minister…
Saudi ministries get Vision deadline
For full coverage of Middle East business, see MEED Saudi government departments and executive agencies have been given two weeks to remove “obstacles” to the delivery of the kingdom’s Vision 2030 unveiled in April by Crown Prince Mohammed bin Salman,…
Saudi east-west oil line to go to 7m b/d
For full coverage of Middle East business, see MEED Saudi Arabia is acting to reduce its dependence upon exporting oil through the Gulf and enhance its capacity to confront Iran in the wake of the relaxation of nuclear-related sanctions against the…
Saudi Arabia ponders massive bond sale
For full coverage of Middle East business, see MEED Saudi Arabia, encouraged by the strong demand for GCC debt among international banks, is considering the sale of up to $15 billion of bonds this year, Bloomberg reported today. It would…
Tuna plant for KAEC
For full coverage of Middle East business, see MEED Golden Tuna has agreed to build its first tuna canning plant in the Middle East in King Abdullah Economic City (KAEC), it was announced yesterday. It will occupy a 35,906 square-metre…