Saudi Arabia remains committed to listing shares of state-owned oil giant Aramco on the stock market, but CEO Amin Nasser says he can no longer offer a timeline for the initial public offering.
Oil prices rose 2 percent on Monday as U.S. sanctions restricted Iranian crude exports, tightening global supply, with some traders forecasting a spike in crude to as much as $100 per barrel.
LONDON, Sept 21- The United States has sent mixed messages to OPEC and its allies over the last week about whether they need to do more to raise oil production and hold down prices. "The OPEC monopoly must get prices down now" President Donald Trump demanded on Twitter on Sept. 20. But just seven days earlier, the president's own energy secretary had told reporters that...
Saudi Arabia's oil minister rebuffed President Donald Trump's recent accusations that OPEC is pushing crude prices higher, insisting that supply is robust and OPEC will work to offset geopolitical challenges to the market.
Saudi Energy Minister Khalid Al-Falih said Riyadh had spare capacity to increase oil output but no such move was needed at the moment.
LONDON, Sept 21- The United States has sent mixed messages to OPEC and its allies over the last week about whether they need to do more to raise oil production and hold down prices. "The OPEC monopoly must get prices down now" President Donald Trump demanded on Twitter on Sept. 20. But just seven days earlier, the president's own energy secretary had told reporters that...
Trump wants OPEC to raise oil output to tame prices, but top exporter Saudi Arabia will be wary of upsetting its allies with a production hike.
DUBAI, Sept 20- OPEC and its allies are unlikely to agree an official increase in crude output when they meet in Algeria this weekend, although pressure is mounting on top producers to prevent a spike in oil prices ahead of new U.S. sanctions on Iran, OPEC sources said. OPEC kingpin Saudi Arabia is worried that any sanctions-related spike in oil prices will trigger...
DUBAI, Sept 20- Saudi Arabian utility developer ACWA Power has delayed plans for an initial public offering, originally envisaged for this year, sources familiar with the matter said on Thursday. A spokesman for ACWA Power declined to comment. ACWA Power, which develops power and desalinated water plants, had been planning to sell a 30 percent stake in an IPO in...
Chinese tech companies are recognizing that Bahrain is a great hub for e-commerce, says Simon Galpin of the Bahrain Economic Development Board.
The politician will face additional charges for his alleged role in the 1MDB scandal, according to the country's anti-corruption agency.
*Saudi Arabia outperforms in Gulf. DUBAI, Sept 19- Egypt's stock market plunged to its lowest close this year on Wednesday as liquidity tightened, while most Gulf markets were little changed and Saudi Arabia continued to rebound from six-month lows. Fund managers said Egypt's slide was at least partly due to jitters in emerging markets globally, although MSCI's...
Tesla stock had been on a recovery rally, gaining 12 percent last week.
*Emaar Properties, Emirates NBD hurt Dubai index. *Egypt stocks see lowest closing since Feb. 13. DUBAI/ CAIRO, Sept 16- Saudi Arabian shares closed at a new six-month low on Sunday, and stocks in Dubai and Egypt also fell sharply as risk aversion continued to spread across emerging markets.
*Creditors have been pursuing his Saad Group since 2009. Sanea, ranked by Forbes in 2007 as one of the world's 100 richest people, was detained last year for unpaid debts dating back to 2009 when his company, Saad Group, defaulted. In what was Saudi Arabia's longest-running debt dispute, creditors have spent the past nine years pursuing Saad Group, which is based in...
DUBAI, Sept 16- Gulf stocks were mostly lower on Sunday morning, with Saudi Arabia under pressure after closing at a six-month low in the previous session and Dubai hit by continued selling in contractor Drake& Scull International. Saudi Real Estate, however, was up 5 percent after its unit Al Widyan Co awarded a 1.1 billion riyals contract to a company to develop...
MADRID— Spain will go ahead with a shipment of precision bombs to Saudi Arabia, officials said Thursday, reversing on a previous decision and angering activists who claim the weapons could harm civilians in Yemen. "This makes Spain potentially complicit in committing crimes of war with these weapons," said Alberto Estevez, who coordinates the campaign backed by...
Global oil supply was firing on all cylinders in August, reaching a record 100 million barrels per day (bpd), the International Energy Agency revealed in its monthly Oil Market Report Thursday.
Oil prices plunged from all-time highs during the global financial crisis in 2008, but it didn't put to bed problems in the market that are keeping crude futures locked in a cycle of boom and bust.
Secretary of State Mike Pompeo says he told Congress the governments of Saudi Arabia and the United Arab Emirates are doing enough to protect civilians amid their military operations to end the civil war in Yemen.
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