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Business Saudi Arabia

  • DUBAI/ LONDON, Feb 28- Saudi Arabia wants crude oil prices to rise to around $60 a barrel this year, five sources from OPEC countries and the oil industry said. This is the level the OPEC heavyweight and its Gulf allies- the United Arab Emirates, Kuwait and Qatar- believe would encourage investment in new fields but not lead to a jump in U.S. shale output, the sources said.

  • Saudi Arabia's state oil company Saudi Aramco will invest $7 billion into an oil refinery in Malaysia's southern state of Johor.

  • *HKEX hopes to leverage deep-pocketed China investors to woo Riyadh. HONG KONG, Feb 27- Hong Kong's stock exchange will bank on its role as a gateway to mainland China's deep-pocketed investors to take on other leading venues and win the coveted $100 billion listing of Saudi Arabia's giant state oil company, Aramco, it said on Monday. Charles Li, the CEO of Hong Kong...

  • HONG KONG, Feb 27- The Hong Kong stock exchange has had discussions with Saudi Arabia's giant state oil company Aramco and is working "very hard" to win a potential $100 billion listing, the bourse's CEO Charles Li said on Monday. Speaking during Hong Kong Exchanges and Clearing's annual earnings briefing, Li said the Asian time zone and access to Chinese capital...

  • SINGAPORE, Feb 27- Oil prices edged higher on Monday, with Brent oil set to rise for five out of seven sessions as a global supply glut appears to ease, but rising U.S. production limited gains. But the market has been supported within a tight $4 to $5 range since November, when the Organization of the Petroleum Exporting Countries and other producers agreed to cut...

  • But the market has been supported within a tight $4 to $5 range since November, when the Organization of the Petroleum Exporting Countries and other producers agreed to cut production. OPEC's record compliance with the deal has surprised the market, and the biggest laggards, the United Arab Emirates and Iraq, have pledged to catch up with their targets.

  • *Many Saudis support oil firm Aramco's share offer. KHOBAR, Saudi Arabia/ DUBAI, Feb 24- Jamil Farsi, a prominent Saudi Arabian jewelry tycoon, made an impassioned plea to the investment minister at a meeting of the Jeddah Chamber of Commerce this month. Investment minister Majed al-Qasabi replied the economy would benefit from the sale of shares in national oil...

  • JAKARTA, Indonesia— Indonesia is hoping to ring up investment deals worth billions of dollars when Saudi Arabia's King Salman and an entourage of 1,500 officials, princes and businessmen visit the Indonesian capital next week. The March 1-9 state visit is the first to Indonesia by a Saudi monarch since 1970. Indonesia has been a source of workers for Saudi...

  • Since then, political differences have emerged as the two Arab powers have diverged on the conflict in Syria, and an Egyptian court blocked the transfer of two Red Sea islands to Saudi Arabia which Cairo had agreed during Salman's visit. Al Ahly for Real Estate Development, Talaat Mostafa Group, Misr Italia, and Orbit Group were to build housing units in Saudi...

  • Saudi Arabia doing heavy-lifting in OPEC deal: Pro

    Scott Darling of J.P. Morgan talks about compliance among member countries to the OPEC production cut agreement.

  • An OPEC branded flag sits on a table ahead of the 169th Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria, on Thursday, June 2, 2016.

    Eleven non-OPEC oil producers that agreed to cut output to boost prices have delivered at least 60 percent of promised curbs so far.

  • *Listing of Aramco could raise up to $100 billion. Industrial and Commercial Bank of China International Holdings, a wholly-owned Hong Kong- based subsidiary of Industrial and Commercial Bank of China, and China International Capital Corporation are among the Chinese banks pitching for the deal, two other sources familiar with the matter said.

  • *Listing of Aramco could raise up to $100 billion. The U.S. banks have joined boutique investment bank Moelis& Co in being tapped for coveted roles in what is expected to be the world's biggest intial public offering worth some $100 billion. Up to 5 percent of the world's largest oil producer is likely to be listed on both the Saudi stock exchange in Riyadh and on one...

  • *Listing of Aramco could raise up to $100 billion. Feb 21- Oil company Saudi Aramco has selected JPMorgan Chase& Co, Morgan Stanley, and HSBC Holdings Plc as lead underwriters for its planned initial public share offering, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. Saudi authorities are aiming to list up to 5 percent of the...

  • Feb 21- Oil company Saudi Aramco has selected JPMorgan Chase& Co, Morgan Stanley, and HSBC Holdings Plc as lead underwriters on the firm's planned initial public share offering, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The listing of Aramco is expected to be the world's biggest initial public offering and could raise up...

  • Feb 21- Oil giant Saudi Aramco has selected JPMorgan Chase& Co, Morgan Stanley, and HSBC Holdings Plc as lead underwriters on the firm's planned initial public share offering, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. Saudi Arabian Oil Co, known as Saudi Aramco, was not immediately available for comment.

  • Toronto Stock Exchange

    The Toronto Stock Exchange is vying for the massive Saudi Aramco initial public offering, exchange parent TMX confirmed to CNBC.

  • Saudi Arabia is favoring New York to list state oil giant Saudi Aramco, while also considering London and Toronto for the prospect of floating the firm.

  • RIYADH, Feb 21- Saudi Arabia has appointed U.S.-based Bechtel Corp, one of the world's largest industrial contractors, to run a new oversight office tasked with reducing inefficiencies and trimming costs on state infrastructure projects. Projects throughout Saudi Arabia slowed to a halt last year as the government delayed payments to contractors for their...

  • Saudi Minister of Foreign Affairs, Adel al-Jubeir explains why he believes the greatest threats to regional stability are terrorism and Iran’s “aggressive” policies.