Page 37 - Saudi Arabia

Saudi, United Arab Emirates reach compromise to unlock oil supply

Brent oil prices fell on the news by as much as $1 per barrel towards $75 per barrel after Reuters reported the two major Opec producers had agreed a deal.

Oil prices drop after Saudi Arabia and UAE reach output compromise

Under the compromise with Saudi Arabia, the UAE's baseline production will rise to 3.65 million barrels per day after the current pact expires in April 2022

Politics seep into oil as diverging goals test Saudi & UAE relations

Crude slips after surging to multi-year highs amid major crisis in Opec+

Saudis may work longer, pay more to Kingdom's pension fund: Report

The government -- faced with an estimated actuarial gap of 800 billion riyals ($213 billion) at the state-controlled pension fund -- is weighing proposals to increase the retirement age

OPEC+ deadlock: What UAE-Saudi Arabia tussle means for oil markets

Brent crude futures zoomed past $77.5 a barrel-mark on Tuesday, after OPEC+, on Monday, called off its meeting unexpectedly. This comes after the UAE rejected a proposal by the alliance on increasing oil production. What does this episode mean for the oil markets? Vandana Hari, Founder & CEO of Vanda Insights, a Singapore-based provider of oil markets macro-analysis, explains it in detail. Watch the video

Cash-strapped Pak inks agreement with Saudi Arabia bank to borrow $4.5 bn

A debt-ridden Pakistan has signed an agreement with Saudi Arabia-based Islamic Development Bank (IDB) to borrow $4.5 billion to alleviate oil and gas shortages

OPEC oil alliance in standoff between Saudi Arabia and UAE

The OPEC oil cartel led by Saudi Arabia and other allied producing countries resumed talks on Monday amid a standoff with the United Arab Emirates

OPEC+ crisis deepens as Saudi Arabia refuses to budge, oil edges up

OPEC and its allies on Friday voted to increase production by about 2 million barrels a day from August to December 2021 extend the remaining output cuts to the end of 2022

Saudi Arabia suspends entry from UAE, Ethiopia, Vietnam over Covid-19

Saudi Arabia has suspended entry for citizens of the United Arab Emirates, Ethiopia and Vietnam over the spread of the coronavirus and its strains in these countries, media reported

Saudis leaving workforce push unemployment to a five-year low: Report

The jobless rate decreased to 11.7 per cent in Q1 compared to 12.6 per cent in the Q4

Saudi Arabia plans new national airline as it diversifies from oil

Saudia has struggled with losses for years and like global peers, has been hit hard by the coronavirus pandemic

OVL on an oil slick, struggles with geopolitical and domestic challenges

Covid-19 has added to these issues. It has not only impacted the demand for fuel but also made the acquisition process slower.

RIL to invest Rs 75,000 cr in clean energy, build 4 giga factories: Ambani

It will also set up a platform for renewable energy project finance to source long-term global capital for investment in these sectors

Reliance to conclude Aramco deal this year; Aramco rep on co board

Ambani said RIL is looking forward to "welcoming Saudi Aramco as a strategic partner in our O2C business".

Middle East's crude share of India's oil imports hits 25-month low in May

India, world's third biggest oil importer, in March directed refiners to diversify crude sources after OPEC and its allies, led by top exporter Saudi Arabia, ignored Delhi's call to ease supply curbs

Saudis accused of killing Khashoggi got military training in US: NYT

There is no evidence to suggest that the American officials who approved the training knew that Saudis were involved in the crackdown of dissent in the kingdom.

Two Indian workers allegedly held captive by employer in Saudi Arabia

Two Indian workers are being held captive by their employer in Yanbu city of Saudi Arabia despite an assurance by authorities that they will be allowed to return by April-end

Saudi positions new pension fund to challenge world's top investors

New entity will have assets of over $250 billion, compared to Japan's Government Pension Investment Fund, the largest in the world.

Saudi Arabia says hajj to be limited to 60,000 in kingdom due to Covid

In last year's hajj, as few as 1,000 people already residing in Saudi Arabia were selected to take part in the hajj.

Yemen's Houthis rebels launch drone attack on Saudi Arabia's air base

Yemen's Houthi rebels said they launched a bomb-laden drone attack on the King Khalid Air Base in Saudi Arabia's southern city of Khamis Mushait