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Crown Prince Mohammed bin Salman Arrives in India for Next Stop of Asia Tour
- February 20,2019
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in India for the second stop on a three-country tour of Asian nations as the Kingdom looks to boost relationships and trade opportunities in the East. India “rolled out the red carpet for the crown prince,” Reuters reports, amid simmering tensions with neighboring Pakistan following a militant attack in […]
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Al-Falih: ‘Going forward the world is going to be Saudi Aramco’s playground’
- February 12,2019
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- SUSTG Team
In a new interview with the Financial Times, Saudi Arabia’s powerful minister of energy, industry, and mineral resources Khalid Al-Falih indicated that Saudi Aramco would take on an active position as investor in resource opportunities outside the Kingdom of Saudi Arabia. Saudi Arabia’s state-owned energy company, Saudi Aramco, will seek to develop an international energy […]
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Ambitious Saudi Entertainment Push Announced by GEA’s Turki al-Sheikh
- January 23,2019
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- SUSTG Team
Saudi Arabia is looking to maintain heavy investment in the entertainment sector in 2019, according to comments made by a top Saudi official, as it looks to make good on key Vision 2030 economic reforms. Reuters reports that Saudi Arabia’s recently named chairman of the General Entertainment Authority, Turki al-Sheikh, said the Kingdom would put on […]
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Saudi Arabia, Other Gulf Nations to Join JPMorgan Chase & Co.’s Emerging-Market Bond Indexes
- January 18,2019
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- SUSTG Team
Saudi Arabia and four other Gulf nations will join JPMorgan Chase & Co.’s emerging-market bond indexes this month, Bloomberg reports, “potentially paving the way for billions of dollars in inflows into the securities.” The debt offerings from Saudi Arabia, Qatar, the United Arab Emirates, Bahrain and Kuwait will represent about 11.8 percent of the EMBI Global […]
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Saudi Arabia Eyes Major Domestic Energy Conservation by 2030, Al Falih Says
- January 15,2019
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- SUSTG Team
Saudi Arabia expects to throttle back domestic energy consumption by 2030 by up to the equivalent of 2m barrels of oil per day, in line with the Kingdom’s Vision 2030 economic and social reform initiative, according to comments made by Khalid Al-Falih published by Reuters. Saudi Arabia has long used easily extracted oil reserves for […]
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A Gradual Pickup in Private Sector Lending in Saudi Arabia Seen in Monetary Update
- January 11,2019
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- SUSTG Team
A recently-released report by Jadwa Investment finds a gradual pickup in private sector lending since April 2018 after showing a slowdown in 2017 and Q1 2018. The Monetary and Financial Update report from the Riyadh-based Jadwa looks at the Kingdom’s monetary policy and other key economic data. Jadwa Investment sees “a rising level of uncertainty” in the […]
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Saudi Arabia Seeks Balanced Budget by 2023 – Al Jadaan
- December 20,2018
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- SUSTG Team
Saudi Arabia’s finance minister told Reuters on Wednesday he was “unconcerned with current oil prices impacting spending plans in 2019″ and the government still aims to close its budget deficit by 2023 – though the target is not set in stone. The government unveiled a $295 billion budget on Tuesday, the kingdom’s largest, with a […]
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Saudi Government ‘Rejects’ U.S. Senate Rulings on Saudi Arabia But Pledges to Continue Building Relationship
- December 17,2018
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- SUSTG Team
The government of Saudi Arabia issued a statement condemning a recent U.S. Senate resolution blaming Crown Prince Mohammed bin Salman for the killing of journalist Jamal Khashoggi, and said the government rejects external interference in its affairs. The Senate measure, which passed in a rare bipartisan vote with unanimous approval on Thursday, was a sweeping condemnation of Crown […]
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OPEC, Russia Will Cut 1.2 million Barrels of Oil Production a Day; Price Jumps
- December 7,2018
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- SUSTG Team
OPEC and Russia have agreed to collectively throttle back oil production by 1.2 million barrels per day to dry up a global supply glut, according to energy reporters from the Wall Street Journal. OPEC nations would cut 800,000 barrels and the Russia-led group would handle the remainder, according to the WSJ. Oil prices on indices […]
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Saudi Aramco CEO: ‘We Need a Major Acquisition For Us to Be In Different Markets Quickly’
- November 26,2018
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- SUSTG Team
In an interview with Bloomberg, Saudi Aramco’s CEO Amin Nasser said the company is earmarking $500 billion to invest over the next 10 years, including $160 billion for natural gas developments and $100 billion for chemicals projects. The interview, given in Dhahran, Saudi Arabia, said the planned spending would come on top of the already planned purchase of a […]
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MUST-READS
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Saudi AramcoSaudi Aramco finalizes refinery deal with Malaysia’s Petronas
Saudi oil giant Aramco agreed in February last year to buy a $7 billion stake in Petronas’s [PETR.UL] Petrochemical Integrated Development (RAPID) project, but the issue was then delayed by “technical issues”.
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Saudi Aramco IPOSaudi Crown Prince Says Aramco IPO May Be 2019, Reuters Reports
Saudi Arabia Crown Prince Mohammed bin Salman said the initial public offering of state oil company Aramco could be delayed until early 2019, pushing back a central plank of his plan to modernize the country’s economy.
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Saudi Aramco IPOSaudi Aramco ready for IPO in second half of 2018: CEO
Saudi Aramco will be ready for an initial public offering in the second half of 2018 and the work is ongoing, Amin Nasser, the chief executive officer of the state oil company, said in a Bloomberg television interview on Monday.
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Saudi Aramco IPOU.S. Investors Will Have Chance to Buy Aramco Shares, Saudis Say
Saudi Energy Minister Khalid Al-Falih also said some investors have been slow to sign on to the reform plan proposed by Crown Prince Mohammed bin Salman because they are focused on dividends. “We are going to have to face that when we list Aramco and have a conversation about how much cash will be given to investors,” he said in a speech Saturday at the Massachusetts Institute of Technology.
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War in YemenAramco Says All Facilities Safe After Report of Yemeni Attack
Yemen’s Shiite forces said earlier that they fired a ballistic missile aimed at an Aramco installation in the border area of Najran in Saudi Arabia, according to a news agency under the rebels’ control. The report didn’t offer details of the target. Aramco didn’t mention the reported attack in its statement.
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Saudi Aramco IPOSaudi Energy Minister says Saudi Aramco could go public this year, but waiting for optimal time
He said the IPO of the world's largest company could be this year, but it could also be later. The company is expected to be listed first on the local Tadawul exchange in Saudi Arabia, according to industry sources.
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Saudi Aramco IPOSaudi Aramco may create employee shareholders says US think tank
Saudi Aramco could grant shares to employees in any forthcoming initial public offering, according to an analysis of the company charter it adopted at the beginning of the year.
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Saudi Aramco IPOSaudi Aramco expected to list first on Saudi stock exchange, delaying international debut
Saudi Arabia's state-owned oil giant Aramco, the world's largest oil company, is walking back plans for a massive public share offering on an international exchange.
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Saudi Aramco IPONew York allure fades for Saudi Aramco as ‘frivolous’ climate change actions loom
Al-Falih spelt out a more serious worry for Aramco. It was not laws that concerned him, he said, in a reference to the Justice Against State Terrorism Act and Sarbanes Oxley laws, but “litigation and liabilities.”
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Saudi Aramco IPOAramco Gets Cool Response on IPO From U.S. Investors
Over the past few weeks, Aramco executives and government officials pitched their plan for what could be world’s largest share sale to some of the largest U.S. mutual fund firms and hedge funds, according to people familiar with the discussions.
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