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  • Qatar’s emir to visit Iran, Europe next week

    Emir Sheikh Tamim bin Hamad al-Thani, ruler of one of the world's top natural gas exporters, will visit Iran and then head on an "extensive visit to the EU and UK", said the source, requesting anonymity as the trip has yet to be officially announced.

  • Oil Retreats as Traders Weigh EU Haggling and Slump in Equities

    West Texas Intermediate traded near $107 a barrel as European equities lost more than 2%. The EU is set to weaken its sanctions passage on Russia after a weekend of wrangling. The bloc will drop a proposed ban on its vessels transporting Russian oil to third countries, but will retain a plan to prohibit insuring those shipments, according to documents seen by Bloomberg and people familiar with the matter.

  • Saudi Arabia lowers Arab Light oil price to Asia, Europe in June

    The world's top oil exporter had raised crude prices for all regions in May, with those to Asia hitting all-time highs, as fears of disruption in Russian oil and gas supplies caused jitters in international energy markets.

  • Is Saudi Arabia Quietly Trying to Help Europe’s Oil Consumers?

    In these circumstances, a marketing policy of maintaining sales into a weakening regional Asian market should see the Kingdom cutting its regional differentials relative to Europe and the U.S.  While Aramco’s European and American differentials have increased, they have not increased as rapidly as Asian differentials — especially for Arab “medium” — the Saudi crude that is the closest substitute for the main Russian export blend, Urals (see table above).

  • Is Saudi Arabia Quietly Trying to Help Europe’s Oil Consumers?

    Saudi Aramco’s global marketing organization — with offices in key cities throughout the world — follows regional oil market developments very closely, and this allows them to fine-tune differentials based on subtle regional shifts in market fundamentals.  For example, if Asia needs more diesel fuel, Aramco might price crudes that yield a higher share of diesel to be directed toward Asian markets.  It is an incredibly efficient and well-informed organization, allowing the Aramco to maximize revenues from its oil sales within the policy framework set by the Energy Minister.

  • EU proposes Russian oil ban to make Putin ‘pay high price’ for Ukraine

    Reluctance to deliver sanctions that will hurt EU economies as well as Moscow faded in recent weeks as Russia's invasion of Ukraine brought horrific images of slaughter in towns and concern about a renewed offensive in the east of the country. Reflecting widespread anger in the West at Russian President Vladimir Putin's campaign - which Moscow says is a "special military operation" to defeat dangerous nationalists - the head of the EU executive said Moscow must face consequences.

  • Europe to Make Fresh Push to Revive Iran Nuclear Deal

    Talks in Vienna, which also involve Britain, France, Germany, Russia and China, have been on a protracted pause since March 11. At that point, Western and Iranian officials said the text of the nuclear deal was virtually complete.

  • Digital art museum opens in Saudi Arabia

    The museum, launched by the Tokyo-based art collective teamLab, comprises over 50 artworks spreading across its expansive and labyrinthine spaces, including "Borderless World," "Athletics Forest" and "Future Park."

  • A Saudi tech university program sounds the call to entrepreneurial action

    One of them is the Entrepreneurial Emerging Leaders Acceleration Program, launched by the King Fahd University of Petroleum and Minerals Entrepreneurship Institute (KFUPM-EI) in Dhahran, Eastern Province, to drive growth in local technology-based startups. The scheme specifically targets startups that are generating innovative products and processes in manufacturing as well as the digital economy. It aims to support Saudi Arabia’s aspiration of becoming a regional and global tech center.

  • Saudi Arabia witnesses spike in women in tech startup than Europe: Report

    This came in a report released by Endeavor Insight. The report also found that the percentage of women in tech is higher than that of men. According to reports, the participation rate of women in the tech sector stood at 28 percent in the third quarter of 2021, above the European average rate of 17.5 percent.