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  • Is SABIC Looking to Invest in U.S. Shale?
     

    SABIC CEO Yousef al Benyan said the company is looking to expand its interests in U.S. shale gas through joint venture projects, according to a report in Bloomberg.  SABIC has signed an agreement with Houston, Texas-based Enterprise Products Partners L.P. to get shale gas, according to the report, to be used in the United States or […]

     
  • Global Oil Services Firms Schlumberger, Halliburton, Baker Hughes Target Saudi as Growth Market in 2014, Report Says
     

    Energy services firms Schlumberger, Halliburton, and Baker Hughes are targeting Saudi Arabia as a high growth market in 2014 in order to “revive profits that are being squeezed by overcapacity in the North American market,” according to a report by the Reuters news service. “Dozens of offshore and onshore rigs are being lined up for drilling in Saudi […]

     
  • $7 Billion Deal Inked Between U.S.-Based Fertilizer Giant Mosaic Company and Ma’aden, SABIC
     

    U.S.-based fertilizer giant Mosaic Company signed a $7 billion contract with Saudi Arabia Basic Industries (SABIC) and the Saudi Arabian Mining Company (Ma’aden) for a 3.5 million ton phosphate operation in the Kingdom, according to a press release issued today. “The estimated $7 billion greenfield project, to be known as Wa’ad Al Shamal, or Northern Promise, Phosphate Project, […]

     
  • Save the Date for the 2013 U.S.-Saudi Business Opportunities Forum in Los Angeles, California
     

    The 2013 US-Saudi Business Opportunities Forum, to be held in Los Angeles, California at the JW Marriott L.A. Live on September 16-18, is the third in a series of extraordinarily successful gatherings featuring top American and Saudi government and private sector leaders and providing an ideal platform for building new and lasting business ties. Please visit www.us-saudiforum.com to register your interest.

     
  • Saudi Arabia Sees Limited Impact from US Shale Oil While SABIC Eyes Gas
     

    According to this report by Summer Said in the Wall Street Journal, a close advisor of Saudi Arabia’s Minster of Petroleum and Natural Resources Ali Al Naimi said that the production of oil from shale will be “too limited and costly” to make a significant impact on the interests of exporters, but that the so-called […]

     
  • Photos of Saudi Arabia’s Impressive Pavilion at the Hannover Industrial Forum in Germany
     

    Saudi Arabia’s presence at the Hannover Industrial Forum, which took place in Hannover, Germany this week, is worth seeing. The Kingdom constructed a massive pavilion to show off business opportunities in Saudi Arabia and provide a networking platform for visitors of the expo in Hannover, Germany.

     
  • Al-Rabiah to Promote Saudi Auto Industry in U.S.
     

    The U.S.-Saudi Arabian Business Council (USSABC) issued a press release today to announce a new conference in Michigan to promote the Saudi auto industry. H.E. Tawfiq al Rabiah, the Saudi Minister of Commerce and Industry, is listed as a confirmed speaker of the event, which will “bring together senior Saudi Government officials, major Saudi industrialists, […]

     
  • Saudi Arabia’s SABIC sets sights on U.S. shale gas boom
     

    Saudi Basic Industries Corp (SABIC) is considering investing in the United States to capitalise on the shale gas boom there, its chief executive told Reuters on Monday. SABIC and other petrochemical producers in Saudi Arabia have been looking for additional gas supplies to fuel their expansion plans, with SABIC now casting its gaze overseas. “We […]

     
  • Saudi, Kuwait, UAE lead Q1 GCC corporate earnings growth
     

    Earnings of Saudi Arabian companies totalled $6.7 billion, an increase of 15 per cent YoY and 28 per cent QoQ. SABIC, which reported $1.9 billion in Q1 profits, saw its bottom-line decline by five per cent YoY due to softening of global petrochemical prices when compared to Q1 2011. Saudi Banks continued its stable growth […]

     
  • Opening the TASI: What You Need to Know
     

    Saudi Arabia, the world’s largest oil exporter and the Middle East’s biggest economy, is about to complete a gradual process to open its stock market, known as the Tadawul or TASI, directly to international investors for the first time.  The initial step toward this action was to give other GCC countries the right to invest […]

     

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