Saudi Arabia

Parts of Saudi Arabia blanketed in snow

Parts of Saudi Arabia were blanketed by snow on Friday, especially in the northwestern regions such as the Dahr Mountains. Temperatures dropped below zero in some parts, with Saudi Arabia’s meteorology office urging residents …

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Why US cannot invade Iran

The Trump administration left the Iran Deal and turned up the pressure. However, that only got America close to another unnecessary shooting war. A war with Iran would have devastating consequences and would be more costly than Iraq or Afghanistan, The National Interest reports

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IEA report: oil market recovery still fragile

The re-balancing of global oil markets remains “fragile” amid weaker estimates for demand and a recovery in supplies, the International Energy Agency said, Rigzone reports. The IEA cut forecasts for world oil consumption in 2021 by 200,000 barrels a day as the pandemic continues to limit travel and economic activity. It boosted projections for supplies outside the OPEC cartel by 400,000 barrels a day as a price recovery spurs investment

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Russian, Saudi oil giants to benefit from Biden’s anti-oil agenda

The growing number of Western countries aiming for net-zero emissions by 2050 and the U.S. Administration’s drive to limit oil and gas extraction on federal land and waters are likely to benefit the biggest oil firms in Russia and Saudi oil giant Aramco, analysts and portfolio managers told Bloomberg, Oil Price informs. While major developed economies are vowing to ‘build back greener,’ the world will still run on oil, and the beneficiaries, at least in the short term, will be the oil firms in countries that haven’t pledged net-zero targets and whose major oil companies are doubling down on oil production

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Saudi Arabia suspends entry from 20 countries

Saudi Arabia banned expatriates from traveling to the Kingdom from 20 countries to curb the spread of the coronavirus. Exceptions to the ban, which begins at 9 p.m. on Wednesday, are diplomats, and medical staff and their families. …

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Saudi Aramco may sell more shares

Saudi Aramco's shareholders may consider selling more shares of the company if market conditions are right, the head of the kingdom's sovereign wealth fund (PIF), Yasir al-Rumayyan, said on Tuesday in a televised news briefing. …

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Compensatory cuts boost confidence in OPEC+ agreement

Oil in New York inched higher with investors assessing the impact of supply curbs from Iraq and Libya on the near-term outlook. Iraq pledged to cut output in January and February after pumping more than its OPEC+ quota last year, and Libyan guards halted some crude exports after a pay dispute

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Saudi Arabia names new central bank governor

Saudi Arabia’s king appointed Fahad al-Mubarak as central bank governor, his second stint in one of the most sensitive positions in the kingdom replacing Ahmed al-Kholifey, a decree carried on state media on Sunday said. Mubarak, …

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The National Interest explains popularity of Russian 'Triumph'

The S-400 Triumf surmounted a tortured development cycle to become one of the world’s leading missile defense systems and a pivotal Russian export product.  The S-400 is an excellent system; it's not horrifically expensive, versatile in its deployment, and accurate enough to take down any NATO fighter, The National Interest writes in the article Why is Russia's S-400 Air Defense System So Dangerous?

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Breakthrough reached in Gulf dispute with Qatar

A breakthrough has been reached in Qatar’s three-year-old dispute with Saudi Arabia and three other Arab countries and an agreement aimed at ending their rift is to be signed in Saudi Arabia on Tuesday, a senior Trump administration …

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Saudi Arabia extends entry ban on COVID-19 variant fears

Saudi Arabia on Monday said it was extending a ban on entry to the Kingdom by air, land and sea for another week. In a statement carried by the Saudi Press Agency (SPA), the Ministry of Interior said the decision was a precautionary …

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Saudi Arabia discovers 4 new oil, gas fields

The Minister of Energy, Prince Abdulaziz bin Salman bin Abdulaziz, announced on Sunday that Saudi Aramco had discovered four new oil and gas fields in the Kingdom, Arab News reports. The minister said that non-conventional oil …

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Saudi economy shrinks 4.6% in third-quarter

 Saudi Arabia’s economy shrank more slowly in the third quarter as the government eased some coronavirus restrictions but the pandemic-hit oil sector continued to weigh on the broader economy, official data showed on Thursday. …

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