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  • Blackstone Establishes Energy Investment Vehicle for MENA Region
     

    Blackstone, the world’s largest buyout group with over $15 billion of equity globally with the energy industry has established Zarou, a company designed to develop, finance, construct and operate energy-related projects in the MENA region. According to the Financial Times, Blackstone will team with Sameh Shenouda, former head of infrastructure equity investments at the UK’s development finance […]

     
  • Global Advisory Board for NEOM Includes Diverse Experts
     

    The Saudi government has appointed a global advisory board for Neom, the kingdom’s $500 billion city of the future planned for Saudi Arabia’s northwest coast near Egypt on the Red Sea. The board is composed of experts in a variety of sectors – including urban planning, architecture, design, technology, sustainability, energy and manufacturing – to provide […]

     
  • Oil Reaches Four Year High after OPEC+ Downplays Calls for Increased Production
     

    Oil rose to its highest price in four years on Tuesday, to above $81 on Brent, after Saudi Arabia and Russia appeared to downplay calls from the US to increase production. Saudi Arabia said it will boost its crude oil production “in the coming months” as it expects stronger demand, according to recent comments made by […]

     
  • Saudi Energy Minister Khalid Al-Falih in Washington Today to Meet with Secretary Perry
     

    Saudi Arabia’s Energy Minister Khalid Al-Falih is in Washington D.C. on Monday to meet with Secretary of Energy Rick Perry, according to a Reuters report which cited a Trump administration official and the Department of Energy. Saudi Arabia has markedly increased oil exports to America in recent months, according to Bloomberg. This weekend, the energy minister […]

     
  • Aramco Officials Begin Early Talks with Banks for SABIC Stake Financing, Report Says
     

    Saudi Aramco officials began early talks with banks about a potential debt financing of up to $70 billion to back its acquisition of a majority stake in Saudi petrochemical firm Sabic, Reuters reports, citing banking sources. JPMorgan and Morgan Stanley were picked to advise on Saudi Aramco’s plan in July. Aramco is looking at the 70% strategic stake in Sabic which […]

     
  • MSCI, Tadawul Sign Agreement to Launch a Tradeable Index Later This Year
     

    Global index provider MSCI announced the signing of an agreement with the Saudi Stock Exchange Co (Tadawul) to jointly launch a tradeable index later this year, Reuters reports, a “move that could spur the growth of derivatives and exchange-traded funds.” The Tadawul said it would introduce exchange-traded derivatives in the first half of 2019. According to a […]

     
  • Saudi Arabia Taps Aradhana Khowala for NEOM Tourism Chief
     

    Aradhana Khowala, former CEO and founder of Aptamind, a global private client advisory firm, has been appointed as NEOM’s managing director of tourism, according to reports. “We will be working alongside Aradhana to make NEOM an exceptional global tourism destination looking ahead to the future,” said NEOM’s CEO Nadhmi Al-Nasr in a tweet on NEOM’s official […]

     
  • SAMI CEO Gives Interview to DefenseNews.com: ‘SAMI itself is acting as a kind of active holding company’
     

    The CEO of Saudi Arabian Military Industries (SAMI) recently gave an interview with DefenseNews.com about how the organization works within Vision 2030 to develop the Kingdom’s future defense industry. Localizing Saudi Arabia’s military industry is a key part of the Kingdom’s ambitious social and economic reform plans. “SAMI itself is acting as a kind of active […]

     
  • Saudi Arabia’s Fiscal Deficit Narrows Dramatically, Jadwa Investment Report Finds
     

    Saudi Arabia’s total government revenue soared in Q2 2018 compared with the same period last year, according to a recent report by Jadwa Investment. Revenue jumped to SR273 billion ($72.7 billion) in Q2 2018, up by 67 percent, or SR110 billion ($29.3 billion), year-on-year. Non-oil revenue saw a rise of 42 percent year-on-year, and government oil […]

     
  • Saudi Aramco Appoints New Top-Level Positions During Board Meeting
     

    Saudi Aramco has made new appointments during a meeting of its board of directors, naming Khalid al-Dabbagh to become senior vice president for finance. Al-Dabbagh takes over the position from Abdallah al-Saadan, who is now chairman of the Royal Commission for Jubail and Yanbu. The board also appointed Motassim al-Maashouq to the post of president of treasury, […]

     

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