Saudi Arabia is trying to “get off the oil needle” by diversifying its economy. She intends to focus on the development of other sectors: the government pays much more attention to the problems of health, transport, water, energy and many others. Also, the authorities of the Kingdom are planning the …
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Saudi Arabia predicts significant growth of oil production in the country in 2016 and intends to expand its presence in the global market. This was stated by the head of the state oil company Saudi Aramco Nasser Amin, said on Tuesday, may 10, Bloomberg. In particular, in the coming weeks …
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Saudi Arabia will continue the current policy in the oil sector. This was stated by the head of the Ministry of energy Khaled al-Faleh. “The Kingdom will remain with its stable policy in the fuel sector”, — he stressed. As reports RIA Novosti news Agency, al-Faleh noted that his country …
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He took the post of the now ex-Minister of health. Saudi Arabia’s king Salman bin Abdul-Aziz al Saud has fired Minister of oil Ali al-Naimi, who held the position for over 20 years. The king also formally abolished the Ministry of oil and establishing instead a Ministry of energy. Will …
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The company PKN Orlen, the Polish oil processing leader, has signed the first long-term contract with Saudi Aramco on a regular supply of oil. Under the terms of the agreement, which runs until the end of 2016, the Saudis will supply the poles 200 thousand tons monthly. The contract will …
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The king of Saudi Arabia Salman bin Abdulaziz al Saud reshuffled the government and restructured a number of ministries, said channel “al Arabiya”. The Minister of petroleum and mineral resources Ali bin Ibrahim al-Nuaimi was fired from his post. The head of the new, restructruing, agencies – the Ministry of …
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This writes the analyst portal OilPrice.com Irina Slav. According to her, Riyadh, usually selling oil on the futures markets at fixed prices, changed myself and decided to put a private oil refinery of China on spot transactions with immediate settlement, taking thus the lead in the export of oil to …
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The media in recent days, animatedly discussing the prospects of Saudi Arabia in the face of falling oil prices, which has long been the Foundation of its economy. The beginning of these discussions put the Saudi Prince Mohammed bin Salman, who offered the project lead the country from petroleum dependence …
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Despite the rapid rise in oil prices in recent months, the financial system in Saudi Arabia there is a very alarming situation. The lack of money, it seems, is growing, and as a result, financing becomes more expensive. Three-month rates in the interbank market of the country exceeded 2%, reaching …
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Saudi Arabia intends to increase oil production with its largest oil field on the border with the United Arab Emirates (UAE) — “sheyba”. On it informs Agency Bloomberg referring to sources familiar with the decision of the authorities. To increase the volume of oil the largest oil company in the …
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