saudi oil

As Cracks Emerge in Global Oil Pact, Saudis May Need to Compromise

As cracks emerge in global oil pact, Saudis may need to compromise By Rania El Gamal/Reuters Tough negotiations await a group of OPEC experts as they meet their counterparts from other oil producers such as Russia, on October 28-29 to hammer out details of an output-capping agreement, with disagreements threatening to scupper the deal. OPEC

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Migrant Workers in GCC: A Crisis At Hand

Thousands of migrant workers in Kuwait and Saudi Arabia have been stuck in the country as their salaries were delayed for several months, many stranded without food or shelter. Abdullah Alelyan and Leila Hatoum report: http://newsweekme.com/a-crisis-at-hand/ Social Streams

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Saudis Pledge Not to Shock Oil Markets as OPEC Clash Looms

By Reem Shamseddine, Rania El Gamal and Alex Lawler VIENNA, June 2 – Saudi Arabia promised on Thursday not to flood the oil market with extra barrels as OPEC entered a heated debate about production policy, with Iran insisting on the right to raise output steeply. Tensions between the Sunni-led kingdom and the Shi’ite Islamic

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Saudi, Iran Set to Clash Over OPEC Oil Output Targets

By Shadia Nasralla and Alex Lawler VIENNA, June 2 – OPEC is set for another showdown between rivals Saudi Arabia and Iran when it meets on Thursday, with Riyadh trying to revive coordinated action and set a formal oil output target but Tehran rejecting the idea. Tensions between the Sunni-led kingdom and the Shia Islamic

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Saudi Aramco Finalizes IPO Options and Plans Global Expansion

By Rania El Gamal DHAHRAN, Saudi Arabia, May 10 – Saudi Arabia’s state-owned oil giant is finalizing options for its partial privatization and will present them to its Supreme Council soon, its chief executive said about the centerpiece of the kingdom’s efforts to overhaul its economy. The company has a huge team working on the

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Witnessing OPEC’s Demise

BY Dr. Nasser Saidi With oil prices down by some 70 percent from mid-2014 and touching multi-year lows, economies across the globe are gradually adjusting to the New Oil Normal and the massive transfer of real income from oil producers to oil consumers, with Middle East oil exporters losing $390 billion in export revenues in

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Saudi Arabia Seeks $6-8 bln Bank Loan to Shore Up State Coffers

By Archana Narayanan DUBAI, March 9 – Saudi Arabia is seeking a bank loan of between $6 billion and $8 billion, sources familiar with the matter told Reuters, in what would be the first significant foreign borrowing by the kingdom’s government for over a decade. Riyadh has asked lenders to submit proposals to extend it

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Saudi Job Creation Dries Up as Oil Price Slump Hits Broader Economy

By Katie Paul RIYADH, March 9 – Saudi Arabia’s plans for economic reform foresee winding down ‘jobs for life’ in an inefficient state bureaucracy and replacing them with new careers in a dynamic private sector. That’s the theory, at least. But in the short term, there is a problem: 2016 is set to be an

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Business Outlook: Low Oil Prices, Stretched Finances

BY Leila Hatoum Oman plans to issue international sovereign bonds this year as a way to address its budget deficit, the country’s Undersecretary Minister of Finance Nasser Al Jashmi told Newsweek Middle East in an interview in Abu Dhabi. Lazard, a well-known international financial advisory and asset management firm, has been appointed by Oman to advise

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