Saudi Arabia | Egypt Oil & Gas - Part 76
Saudi Bonds and Spending Move in Opposite Directions
Standard and Poor, which previously downgraded Saudi Arabia’s sovereign debt, has said that this in turn may contribute to a gradual repricing of the Gulf’s international bonds, reported Reuters. The argum...
Saudi Arabia Able to Withstand Oil Prices: Saudi FM
Saudi Foreign Minister, Adel al-Jubeir, has announced that Saudi Arabia can withstand the impact of low oil prices on state revenues and economic growth, reported Reuters. “The deficits that the kingdom will be ...
Mining to Make Major Contribution to Saudi Diversification
Saudi Arabia’s plans to diversify its economy away from oil gained additional imputes with the announcement that the country’s mining sector is set to triple by 2030. Saudi Arabia’s Minister of Petroleum &...
Saudi Seriously Contemplating Slashing Energy Subsidies
Oil Minister Ali al-Naimi confirmed suspicions that the Saudi kingdom could cut its system of energy subsidies, reported Reuters. He was asked on the sidelines of a mining conference on Tuesday whether he expected dom...
Crude Oil Fails to Keep PetroRabigh Profits Afloat
Saudi Arabia’s Rabigh Refining and Petrochemical Co (PetroRabigh) reported that its profits swung to a net loss in the third-quarter, reported Reuters. The company’s explanation was lower margins on petrochemica...
Long Delayed Trials Take Place at Saudi Butanol Plant
Saudi Butanol Co, a joint venture of local petrochemicals firms, has begun trials of its Jubail plant, reported Reuters. Testing will take between three and six months at the plant, said a statement from Sahara Petroc...
Saudi Arabia in Cash Flow Crisis
Informed sources told Bloomberg that Saudi Arabia is delaying payments to government contractors thanks to the oil price slump. The country has already entered into a deficit for the first time since 2009, with constr...
SABIC Optimizing for Global PetroChem Competitiveness
Sabic announced it is undertaking a global transformation aimed at creating a more agile, cost-efficient, and customer-focused organisation that meets their needs more effectively, reported Trade Arabia. The company’s...
