RIYADH: Oil prices dipped in early Asian trade on Monday, but held close to the highest levels since the start of the year on optimism that China’s reopening will lift fuel demand at the world’s top crude importer. Brent crude fell 61 cents, or 0.72 percent, to $84.67 a barrel by 08.15 a.m. Saudi time, while […]
The percentage of non-oil trade between the United Arab Emirates (UAE) and Russia increased by 57 per cent during the first nine months of the year, according to the UAE Minister of State for Foreign Trade, Thani bin Ahmed Al-Zeyoudi. Al-Zeyoudi said on Twitter yesterday that non-oil foreign trade between Abu Dhabi and Moscow reached […]
OPEC+ agreed to cut output by 2 million barrels per day earlier in October
The third housing package of 2022 coincided with the UAE’s 51st National Day celebrations
RIYADH: Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman has announced the discovery of two new natural gas fields in the Kingdom. The “Awtad” unconventional natural gas field was discovered southwest of the Ghawar field, 142 kilometers southwest of the city of Hofuf, according to the Saudi Press Agency. The “Al-Dahna” unconventional natural gas field […]
AMF program to improve transparency in banking, financial and private sectors
The CEO of Israel’s public energy company NEOMED energy, Yossi Abu, has expressed its readiness to invest in natural gas exploration in the Moroccan Sahara. “Morocco will become an energy hub in the future because of its stability and the diversity of sources it relies on,” said Abu. “The Moroccan Sahara is a large reservoir […]
Prince Abdulaziz: OPEC+ decision to cut production by 2 million barrels a day will stand till end of 2023
SEOUL: South Korean and Saudi Arabian leaders pledged stronger ties on Thursday in the fields of energy, defense industry and building projects, as the oil-rich Kingdom signed investment agreements worth $30 billion with South Korean companies, according to Reuters. South Korean President Yoon Suk-yeol told Saudi Arabia’s Crown Prince Mohammed bin Salman he hoped the […]
Saudi Arabia’s recent moves to provide aid to Ukraine and its vote at the United Nations condemning Russia’s annexation of Ukrainian territory are positive developments, but do not compensate for the “wrong” decision by OPEC+ to cut oil production, US Secretary of State, Antony Blinken, said, Reuters reports. OPEC+, the oil producer group comprising the […]
