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Senate Passes Joint Resolution to End U.S. Military Support for Saudi-Led Coalition in Yemen
- March 14,2019
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- SUSTG Team
The U.S. Senate passed a resolution Wednesday to end American support for the Saudi-led, U.N.-backed coalition in Yemen, issuing a challenge to President Donald Trump to use his first veto of his Presidency. The bill, entitled “A joint resolution to direct the removal of United States Armed Forces from hostilities in the Republic of Yemen that have not […]
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Large Quantities of Natural Gas Discovered in Red Sea, Al-Falih Says
- March 8,2019
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- SUSTG Team
Large quantities of gas have been discovered in the Red Sea, the official Saudi Press Agency said, citing comments made by Minister of Energy Khalid Al-Falih. Al-Falih said that Saudi Aramco will intensify exploration work over the next two years after completion of a feasibility study. Falih also said Saudi Aramco was studying possible Liquified Natural Gas (LNG) project […]
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Latest Economic Data Shows Continued Improvement in Saudi Economy, Jadwa Investment Says
- March 5,2019
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- SUSTG Team
Latest economic data from Jadwa Investment’s March 2019 economic chartbook shows more positive signs for the Saudi economy. Economic data reviewed by Jadwa for the month of January showed improvements for the economy, including a 32 percent rise in POS transactions, and a rise in non-oil PMI to its highest level since December 2017, the Riyadh-based bank said. […]
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Saudi Crown Prince Mohammed bin Salman arrives in China
- February 21,2019
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- SUSTG Team
Saudi Crown Prince Mohammed bin Salman arrived in China on Thursday, the third stop of his tour of Asian nations that started with visits to Pakistan and India. The Crown Prince is slated to meet Chinese President Xi Jin Ping during the official visit. China is Saudi Arabia’s largest trading partner, ahead of the United States. At […]
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Looking East, Crown Prince Mohammed bin Salman Arrives in Pakistan
- February 18,2019
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in Pakistan on Sunday for the start of a tour of several Asian nations as the Kingdom looks eastward to strengthen trade relationships and business opportunities. As is usually the case for the highest Saudi royal leaders on state visits, the Crown Prince traveled with a sizable entourage […]
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Once Taboo, Valentines Day is Celebrated in Saudi Arabia
- February 14,2019
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- SUSTG Team
Before 2018 in Saudi Arabia, Valentines Day was “an old tradition kept in the dark” and not openly celebrated by Saudis, instead being secretly observed by citizens in the privacy of their homes. Then, last year, Sheikh Ahmed Qasim Al-Ghamdi, former president of the Saudi “religious police” or Ha’ia, endorsed Valentine’s Day celebrations for the first time in […]
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December Economic Data Shows Slight Cooling but Non-Oil Exports Grow, Jadwa Says
- February 6,2019
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- SUSTG Team
The latest monthly economic chartbook released by Jadwa Investment found a cooling in some key economic data points, although the Saudi stock market soared by 10% in January as oil prices rose. The Riyadh-based Jadwa’s report found that POS rose by 10 percent while cash withdrawals were flat, and non-oil PMI index was marginally down […]
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Saudi Media Powerhouse SRMG Launches Independent Arabia
- January 25,2019
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- SUSTG Team
The Saudi Research and Marketing Group (SRMG) and the UK online publisher The Independent have launched a new digital news site, IndependentArabia.com. SRMG announced the appointment of Saudi journalist and political analyst Adhwan al-Ahmary as editor-in-chief of the online platform, while the new service will be staffed by a team of experienced journalists from Saudi Arabia […]
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Saudi Oil Reserves Are Even Bigger than Previously Estimated
- January 10,2019
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- SUSTG Team
An independent audit of Saudi Arabia’s oil reserves found that the Kingdom has more oil than previously estimated, according to reports and an official statement from the government of Saudi Arabia. The audit, conducted by Houston-based petroleum consultants DeGolyer & MacNaughton, had concluded that Saudi Arabia’s oil reserves total 268.5 billion barrels – over 2.2 […]
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Positive Trends Seen in Latest Saudi Economic Data; Non-Oil PMI Up
- January 2,2019
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- SUSTG Team
A recently-released report from Jadwa Investment found a positive trend in Saudi economic data for the month of November, with POS and cash withdrawals rising by 18 percent and 2 percent respectively, year-on-year, and growth in the non-oil PMI index. The monthly report from the Riyadh-based investment firm analyzes key macro and micro economic trends in […]
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Saudi AramcoJPMorgan sees scope for Saudi Aramco stock gains
JPMorgan is the first major brokerage to initiate coverage of Saudi Aramco with an “overweight,” setting a price target of SR37 ($9.86) per share and saying it sees scope for an increase in the energy giant’s proposed $75 billion base dividend. “Aramco is unique. In terms of quality of assets, scale and profitability it dwarfs just about any company globally,” BofA said in a note. “Yet, at current valuations, most of the outstanding fundamental factors are already priced in.”
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EnergySaudi Aramco Chairman: Oil Industry Should Think In Decades
Energy transitions “take decades, even centuries” to complete, the chairman of the world’s largest oil company, Saudi Aramco, said at a conference on Monday, adding that the industry should continue to think in decades. Because complete energy transformations take such a long time to complete, the oil industry should continue to think in decades, Aramco’s chairman Yasir Al-Rumayyan said at the International Petroleum Technology Conference (IPTC) in Dhahran, Saudi Arabia, as carried by Al Arabiya English.
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Healthcare IPOSaudi Healthcare Firm Said to Start IPO in Wake of Aramco Sale
Dr. Sulaiman Al Habib Medical initially planned to sell shares in 2016, people familiar with the matter said at the time. The company operates at least 14 medical facilities across Saudi Arabia, the United Arab Emirates and Bahrain, according to its website.
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Aramco IPOCommentary: Why Saudi Aramco’s IPO Is No Ordinary Share Sale
Investors were able to purchase just 1.5% of the world’s most profitable company -- about half what was previously considered. Even so, Aramco’s IPO became the biggest in history.
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Aramco IPOSaudi Aramco exercises ‘greenshoe’ option to raise IPO by $3.8 billion
An over-allotment — also called a "greenshoe option" — allows a company to issue a certain percentage of additional shares above what it had initially planned for an IPO. The option can act as a stabilizing mechanism to keep shares from falling below their offering price.
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Capital MarketsSaudi Healthcare Firm Said to Start IPO in Wake of Aramco Sale
One of Saudi Arabia’s largest private healthcare operators plans an initial public offering next month, according to people familiar with the matter, in what will be a litmus test for investor appetite after the world’s biggest share sale. Dr. Sulaiman Al Habib Medical Group appointed Jadwa Investment and Riyad Capital as advisers, the people said, asking not to be identified because the matter is private.
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Venture CapitalSaudi 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 AramcoSaudi Aramco Shares Take Hit From Mideast Conflict
Investors who bought Aramco shares after the Saudi oil giant’s highly anticipated initial public offering last month haven’t benefited from the outbreak of conflict in the company’s Mideast backyard. Shares of the company—officially called Saudi Arabian Oil Co. —have fallen 10% from their peak on Dec. 16, a few days after they began trading on Saudi Arabia’s Tadawul exchange.
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LNGSaudi Aramco and Sempra Take Step Forward on Port Arthur LNG
American utility giant Sempra Energy and Saudi Aramco announced Monday that they have signed an interim agreement for their joint Port Arthur LNG export project, which is currently under development in Jefferson County, Texas. The deal remains subject to final review and authorization on both sides.
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Saudi AramcoUS-Iran tensions provides Saudi Aramco with first stern test less than a month after IPO
While Aramco performed better than Saudi Arabia’s benchmark Tadawul index, the sudden rise in geopolitical tension comes just as the end of the stabilisation period for the shares nears following the Dec. 11 sale.
- Saudi Gazette - Commodity markets jittery amid renewed geopolitical friction
- Fortune - Jittery Investors Sell off Saudi Aramco, Middle Eastern Stocks in First Trading Session Since Soleimani Killing
- Reuters - Saudi Aramco shares hit lowest since IPO, down 1.7%
- Bloomberg - Aramco Undergoes Stern First Test Less Than a Month After IPO
- Bloomberg - Oil Jumps Near $70 as U.S. Says Iran May Strike Saudi Again
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