Oilman Harold Hamm says the Saudi hard line on production has turned the Russian "ruble into rubble" while also squeezing U.S. producers.» Read More
RIYADH/ DUBAI, Feb 25- Mobily's problems piled up on Wednesday after Saudi Arabia's second largest mobile operator said it made a $243 million loss in 2014, had breached covenants on long-term loans and removed its chief executive. Mobily-- officially known as Etihad Etisalat-- made a loss of 913 million riyals in 2014 after it took an additional charge of 1.13...
*Restated profits $381 mln lower in November. DUBAI, Feb 24- An accounting scandal at Saudi Arabia's Mobily is set to constrain dividend payouts from the former stock market darling for the next few years and make investors more picky about companies in the kingdom. Analysts who met acting Mobily Chief Executive Serkan Okandan a month ago came away with the...
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude slid again on yesterday's record build.
Miswin Mahesh, oil analyst at Barclays, says Saudi Arabia is being written off at the moment, however a shift in policies could change that.
Saudi Arabia's new monarch is expected to give away over $32 billion to ordinary Saudis in post-coronation bonuses. The NYT reports.
*Could fund minority stake in Germany's Lanxess. DUBAI, Feb 18- State oil giant Saudi Aramco is talking to banks about taking a $10 billion loan for general business purposes, according to two banking sources aware of the matter, with one saying the deal could close by the end of the month. Aramco also has a $4 billion existing loan due to mature later this year, and has...
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Rig counts declined and Europe appears to be getting stronger. Nat gas and gold were up on the day, as well.
The choice of 69- year-old Muqrin for crown prince and 55- year-old Mohammed bin Nayef for deputy crown prince resolved the most important dilemma in the dynasty's recent history- how to jump from sons of its founder, King Abdulaziz, to his grandsons. The most important change appears to be the creation of two new super-committees that give Mohammed bin Nayef...
SEOUL, Feb 12- U.S. crude futures rose above $49.50 a barrel on Thursday as the Ukraine army suffered some of the heaviest losses in the nine-month war, and Saudi Arabia and Russia's energy giant Gazprom discussed cooperation between OPEC and non- OPEC oil producers. *The leaders of France, Germany, Russia and Ukraine held peace talks in Belarus on Wednesday, while...
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude finished up for the week as refinery strikes continued.
Have oil prices bottomed? As CNBC Explains, it's anybody's guess.
Miswin Mahesh, oil analyst at Barclays, says Saudi Arabia will not cut oil production, leading to weakness in the price during the first half of the year.
The rollercoaster ride in oil prices continued on Thursday, after the market tumbled on news that U.S. inventories were at a near-80 year high.
Ibrahim bin Abdulaziz Al-Assaf, finance minister of Saudi Arabia, discusses his country's relationship with the U.S., following rumors that Saudi royals funded the 9/11 attacks.
Saudi Arabia's Finance Minister, Ibrahim bin Abdulaziz Al-Assaf, says the country has buffers and reserves in place to deal with the low oil price.
Saudi Arabia is a "pillar of stability" among the geopolitical turmoil in the Middle East, the country's finance minister, Ibrahim bin Abdulaziz Al-Assaf, told CNBC.
*Payout may total up to 70 billion riyals. DUBAI, Jan 31- A lavish payout to public employees ordered by Saudi Arabia's new King Salman will help to sustain the kingdom's consumer boom and reassure financial markets that the government is not slashing expenditure in the face of low oil prices. The announcement did not give a monetary figure, but Saudi Arabia's 860...
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil was up big on the day as traders buzzed about OPEC comments. Nat gas was hit again as temperatures warmed up. And gold had a slight rebound on the day.
John Kilduff, Founding Partner; CNBC Analyst, Again Capital, says rumors of ISIS on the move and a threat to Kirkuk in Iraq pushed oil higher on the day. If the rumors prove to be false, he says, oil will fall back.
We need a strategy, says Sen. John McCain, (R-Ariz.), discussing transition in Saudi Arabia amid instability in the Middle East and ISIS terror attacks.