The Saudi Minister of Energy, HRH Prince Abdulaziz bin Salman, announced (Wednesday) the intention of the “SABIC” company, in cooperation with “Saudi Aramco”, to start the first program in the country to convert crude oil into petrochemicals in the city of Ras Al-Khair (east of the Kingdom), with a capacity…
Saudi Energy Minister, HRH Prince Abdulaziz bin Salman categorically denied recent reports that Saudi Arabia is currently discussing with other OPEC+ producers any increase in production by 500,000 barrels per day. “It is well known, and it is no secret to anyone, that (OPEC +) does not discuss any decisions…
A spokesman for the Saudi Ministry of Finance said, on Tuesday, that Saudi Arabia and Turkey are discussing placing a five billion dollar deposit in the Turkish Central Bank. “We are finally discussing depositing five billion dollars at the (Turkish) central bank,” the spokesman told Reuters. Despite the strong growth…
FIFA has told its member associations that it has generated “record revenues” of $7.5 billion in 4 years from commercial deals linked to the 2022 World Cup in Qatar. FIFA disclosed its earnings on Sunday to officials from its more than 200 members. This amount increases by one billion dollars…
The monthly data of the World Federation of Exchanges revealed that Saudi Arabia is the fifth country among the G20 countries in terms of the market value of the stock markets with SAR 10.7 trillion, after the USA, China, Japan, and India. According to the data, the USA comes…
Saudi shipments to Beijing jumped in October 12% year on year to 7.93 million tons, equivalent to 1.87 million barrels per day. China’s imports of Saudi oil from the beginning of this year until last October amounted to about 73.8 million tons. Russian supplies to China have reached 72 million…
Saudi Aramco announced its largest-ever investment in South Korea for a project to develop a world-class integrated petrochemical steam cracking facility through its subsidiary S-Oil. The company seeks to expand its business in the petrochemical sector, in line with its strategy to maximize the value chain in converting liquids…
Saudi expert in strategic studies and political science, Dr. Muhamad Al-Harbi, said that the G-20 represents two-thirds of the world’s population and more than 90% of the world’s output, which amounts to $88 trillion. He added, during an interview with the Al-Ikhbariya channel, that the Ukrainian crisis has caused…
The annual inflation rate in Saudi Arabia slowed for the first time since last May, to 3 percent, during October 2022, according to official government data, this was compared to the 3.1 percent it recorded in September of the same year. The data of the General Authority for Statistics in…
In a speech at the International Cybersecurity Forum 2022, Saudi Energy Minister Prince Abdulaziz bin Salman indicated that the world could not bear two weeks without Saudi oil exports. The Saudi Energy Minister stressed, at the forum held in the capital, Riyadh, that the energy sector is the most…
