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OPEC and allies reportedly set for video meeting as analysts question Trump intervention
Oil producer group OPEC and its partners will reportedly hold an emergency virtual meeting on Monday, with all members of the energy alliance expected to take part in an effort to stabilize markets. It comes less than 24 hours after President Donald Trump told CNBC that he expected OPEC kingpin Saudi Arabia and non-OPEC leader Russia to take up to 15 million barrels of crude off the market.
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Saudi Arabia to Guarantee Salaries to Support Virus-Hit Firms
Saudi Arabia moved to avert large-scale job layoffs during the coronavirus pandemic by pledging to help struggling companies with wages, in perhaps the kingdom’s most significant measure so far to limit damage to the private sector.
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Trump touts ‘great’ Saudi-Russia oil deal to halt price rout, but details unclear
U.S. President Donald Trump said on Thursday he had brokered a deal with top crude producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid the global coronavirus pandemic, though details of how cuts would work were unclear.
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Saudi Arabia brings forward coronavirus curfew start in three areas
Saudi Arabia has brought forward its nightly curfew by four hours in three areas to combat the coronavirus epidemic, state news agency SPA said. From Friday, the curfew will begin at 3 p.m. (1200 GMT) instead of 7 p.m. in the city of Dammam and the governorates of Taif and al-Qatif, SPA said, quoting a senior interior ministry official. The curfew is lifted at 6 a.m.
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Aramco pays upwards of $40m per year to join F1 top tier
Saudi Aramco, one of the world’s biggest oil and gas companies, will pay between $40m (€36.6m) and $45m per year for global partner rights to Formula 1 over 10 years from 2020 to 2029. The largely state-owned energy producer is believed to be the world’s most profitable company. This is its first global sponsorship of a major sporting event.
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Saudi Telecom Delays $2 Billion-Debt Talks for Vodafone Deal
Saudi Telecom Co. has postponed talks to raise debt to fund the acquisition of Vodafone Group Plc’s stake in its Egyptian business because of the coronavirus outbreak, according to people with knowledge of the matter.
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What is the Al Naslaa Rock Formation in Saudi Arabia?
Al Naslaa may look like nothing more than a massive rock to some, yet it is one of the most fascinating geological formations in history. The captivating formation is located far inside the Tayma Oasis in Saudi Arabia, where it has puzzled and entranced historians, geologists, and tourists for years. The formation features a huge piece of sandstone (with unique shaping on both sides) balanced on a naturally-formed pedestal. What makes the formation so unique? It’s split!
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Saudi Arabia’s Mawid smartphone app offers coronavirus self-assessment
The Saudi Health Ministry has introduced a self-assessment feature on its Mawid smartphone app amid the global outbreak of coronavirus disease (COVID-19), offering a consultation window for the public.
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Trump’s Saudi-Russia Oil Gambit Faces Resistance at Home
The prospect of capping U.S. production is a non-starter with many industry heavyweights, who blasted the proposal and are opposed to any broader effort. The API called pro-rationing an “anticompetitive” effort that would only harm U.S. consumers and American producers.
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Hard times shape rapid Saudi and Kuwaiti coronavirus response
Its experience of Mers meant hospitals had already established separate triage units for respiratory illnesses, with specialised ventilation to protect medics from infection. At least two hospitals also had drive-through testing in place, which the US is rushing to bring in.
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