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Real Madrid Win Saudi-Hosted Super Cup after Tense Penalty Shootout with Atletico
Real Madrid were crowned winners of the first edition of the revamped Spanish Super Cup in Saudi Arabia on Sunday, beating city rivals Atletico Madrid 4-1 in a penalty shootout following a goalless draw after extra time in a tense final.
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OPEC Is Making Even Deeper Cuts Than Planned
As in all previous months, Saudi Arabia overcomplied significantly with its share of the cuts, helping the cartel achieve the new quota effective January a month early. Saudi Arabia’s December oil production was 9.82 million bpd, as per the Platts survey. This is way below the December quota of 10.3 million bpd and even below the new Q1 2020 Saudi quota of 10.14 million bpd.
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Commentary: Energy markets underestimate Middle East supply vulnerability
Complacency over risks and the belief that the market is abundantly supplied has meant that oil prices can no longer be used as a barometer of stability in the region. Instead of rising in anticipation of potential disruption, the market now reacts, briefly, before falling back on fundamentals. This is a very different dynamic to just a few years ago.
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Saudi Arabia Condoles Oman on Death of Sultan Qaboos
Saudi Arabia's Royal Court issued on Saturday a statement to extend the kingdom's condolences over the death of Sultan Qaboos bin Said bin Taimur. "With the utmost sadness and grief, the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and Prince Mohammad bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister and Minister of Defense, received the news of the death of Sultan Qaboos bin Said bin Taimur of Sultanate of Oman," the statement read.
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Natural Gas Strategies for the Saudi Energy System
Fuel prices in the Kingdom of Saudi Arabia have historically been below international market values. This has stimulated rapid growth in primary energy demand. The Kingdom’s natural gas demand has now outstripped its domestic production, forcing the government to impose rations on consuming sectors, and raising expectations that natural gas production and prices in Saudi Arabia will increase over the next decade.
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Saudi energy minister: We want sustainable oil prices
Prince Abdulaziz said the United States was a strategic partner with a big role in international security. “We’re leaving it to our friends in the U.S. to conduct themselves in the manner they see fit,” he said.
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Esper says he’s seen no hard evidence embassies under threat
Defense Secretary Mark Esper explicitly said Sunday that he had seen no hard evidence that four American embassies had been under possible threat when President Donald Trump authorized the targeting of Iran’s top commander, raising questions about the scale of the threat described by Trump last week.
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Countdown begins for Riyadh Season grand finale
Riyadh Season grand finale is almost ready thanks to “Leila, the Land of Imagination” created by Balich Worldwide Shows scheduled on Jan. 16, 2020 at King Fahd Stadium, which is expected to be the most unforgettable show of the whole festival.
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Saudi Aramco Energy Ventures Readies New Fund, Beijing Office
Saudi Aramco Energy Ventures, a unit of the kingdom’s energy company, is preparing to start a new fund this year after completing $500 million in investments. The new fund will also be roughly $500 million in size, Majid Mufti, the company’s chief executive officer, said in an interview on the sidelines of an energy conference in Abu Dhabi. It will be financed primarily by returns on the previous investment, which has backed 45 technology companies, primarily in the U.S. and Europe, since 2012.
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Saudi Arabia’s ACWA Power plans $10 billion of investments in 2020: CEO
Saudi Arabian utility developer ACWA Power is planning to invest about $10 billion in 2020 as it eyes new projects in some 10 countries, the company’s chief executive said on Saturday. The company, which builds power and desalinated water plants and has 50% of its portfolio in Saudi Arabia, plans to expand into new markets, Paddy Padmanthan told Reuters on the sidelines of an energy event in Abu Dhabi.
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