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Crown Prince Mohammed bin Salman to Visit Pakistan on Saturday, Announce $20b in Deals
- February 13,2019
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- SUSTG Team
Saudi Arabia’s crown prince Mohammed bin Salman is set to make his first state visit to Pakistan on Saturday, where he will announce investment projects worth up to $20 billion, a senior official told VOA news. The investment is needed for Pakistan, which is cash-strapped and facing multiple regional political challenges with a recently-elected Prime Minister. […]
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Saudi Arabia Launches Office to Monitor State Spending, Corruption After Crackdown
- February 5,2019
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- SUSTG Team
Saudi Arabia has launched a new office to monitor state spending, saying it would help keep up the fight against corruption after the closing of a 15-month crackdown that yielded over $100b of assets to the government, according to Reuters. A newly created financial reporting office would be part of the state’s General Auditing Bureau, which watches […]
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Private-Sector Program ‘Direction’ in Saudi Arabia Boosts Cross-Cultural Understanding, Dialogue
- February 1,2019
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- SUSTG Team
A private-sector program in Saudi Arabia is seeking to enhance relations between the Kingdom and nations around the world through delegations of Saudi youths in order to spread “a culture of moderation and respect for others” in line with the Kingdom’s Vision 2030. The program, called “Direction,” designs, executes and manages supportive programs for Saudi and Arab […]
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Saudi Arabia Doubles Down on Industrial Development Program; Seeking over $400 Billion in Investment
- January 28,2019
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- SUSTG Team
Saudi Arabia is seeking to attract 1.6 trillion riyals (nearly $429 billion) in private sector investment over the next 10 years for an infrastructure and industrial program, according to an announcement over the weekend and at an investment conference in Riyadh today. Investments will be made through the National Industrial Development and Logistics Program (NIDLP), […]
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Fahad Nazer Named New Saudi Embassy Spokesperson in Washington
- January 24,2019
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- SUSTG Team
The Royal Embassy of Saudi Arabia in Washington has appointed Fahad Nazer as official spokesperson, according to a press release and announcement made public yesterday. Nazer, who has been a contributor to SUSTG.com as well as Arab News and other publications in the region and United States, replaces Ms. Fatimah Baeshen, who served in the role since September 2017 […]
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Secretary of State Pompeo Meets Top Saudi Leadership in Riyadh
- January 14,2019
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- SUSTG Team
Secretary of State Mike Pompeo held talks with Saudi Arabia’s King Salman and Crown Prince Mohammed bin Salman in Riyadh on Monday, discussion topics ranging from the conflicts in Syria and Yemen, threats from Iran and the Saudi response to the killing of Washington Post columnist Jamal Khashoggi last year, according to reports. The Associated Press reports that Pompeo spent […]
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Production Cuts Begin with Big Drop in Crude Oil Supply; Prices Rise
- January 3,2019
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- SUSTG Team
Oil output from OPEC countries fell 530,000 barrels a day to 32.6 million a day last month, Bloomberg reports, in what amounts to the sharpest pullback since January 2017. The cut in supplies is a response by the group to a global glut of oil on the market and a falling price for oil on international indices […]
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Saudia-Owned Flyadeal Selects Boeing for Expansion Fleet with $3.5b in New Planes
- December 21,2018
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- SUSTG Team
Saudi Arabian discount carrier Flyadeal will switch from an all-Airbus SE fleet to Boeing jets after ordering 30 737 Max narrow-body planes worth $3.5 billion at list prices, according to a Bloomberg report. The Chicago, Illinois-based Boeing has been in competition with France-based Airbus for the order since mid-2016, according to the report. The airline committed to […]
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In Dhahran, Energy Secretary Perry, Al-Falih Discuss Oil Markets, Nuclear Possibilities
- December 10,2018
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- SUSTG Team
U.S. Energy Secretary Rick Perry held a round of talks with Saudi Minister of Energy Khalid Al-Falih and Aramco CEO Amin Nasser as well other energy industry figures in Dhahran, Saudi Arabia, according to reports. The top energy officials from the U.S. and Saudi Arabia discussed oil markets and nuclear power possibilities. Saudi Arabia’s energy minister Khalid al-Falih […]
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High Stakes as Saudi Arabia, Russia Leaders Meet on Sidelines of G20
- November 30,2018
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- SUSTG Team
Top officials from Russia and Saudi Arabia are set to test their energy policy coordination through a series of meetings this week, both in Argentina on the sidelines of the G20 meeting and in Vienna, Austria next week for a meeting between OPEC and non-OPEC producers. Crude futures have fallen more than 25 percent since climbing to a four-year peak […]
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Saudi Stock MarketForeigners Boosted Saudi Stocks the Week Aramco Woes Dominated
Qualified foreign institutional funds were the main net buyers of shares for the week of Sept. 19, in the aftermath of strikes on facilities of giant oil producer Saudi Aramco. That led to a cut in the kingdom’s oil output.
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Saudi Aramco IPOSaudi Aramco hires UBS, Deutsche as bookrunners for its IPO: sources
Saudi state oil company Aramco has hired UBS Group and Deutsche as bookrunners for its initial public offering, two sources familiar with the matter said, in a sign that the deal is moving ahead despite a recent attack on Saudi oil facilities.
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Saudi AramcoOpinion: Why last week’s attack could strengthen Saudi Aramco
After the attacks last weekend, the United States and other allies are voicing their support for the Kingdom, which could translate into security assets being deployed and making Aramco potentially stronger than ever.
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Aramco Trading CompanyAramco Trades Crude Normally Without Buying Oil From Iraq
Saudi Arabia’s state energy producer is trading crude produced outside the country as normal and is not currently seeking to buy additional barrels from Iraq’s state oil marketer, according to people with knowledge of the companies’ operations.
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Khurais DamageOil drone attack damage revealed at Saudi Aramco Khurais oil facility
The tour of the Khurais site revealed melted pipes and burnt areas which are now busy being repaired. Officials claim 30% of the facility was back up and running within 24 hours and full production at Khurais will be reached before the end of September.
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SASREFSaudi Aramco acquires Shell’s share of the SASREF refining joint venture
Saudi Arabian Oil Company (Saudi Aramco) has completed the acquisition of Shell Saudi Arabia Refining Limited’s (Shell) 50% interest of the SASREF joint venture in Jubail Industrial City, in the Kingdom of Saudi Arabia, for $631 million.
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Aramco IPOSaudi market regulator in talks with Aramco on IPO rules
Asked whether there will be any waivers or exemptions for the company’s listing, Kuwaiz told Reuters in an interview that the CMA is “still having those discussions”.
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Saudi Aramco IPOSaudi finance minister says Aramco restoring output proves it can swiftly deal with any crisis
Saudi finance minister Mohammed al-Jadaan said on Wednesday that Aramco’s announcement of restoring production after the Saturday attacks proved it can swiftly deal with any crisis.
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Aramco IPOSaudi Aramco pursues IPO planning despite attack damage doubts
Three sources close to the deal said meetings scheduled this week with Saudi banks to discuss the underwriting work they will do in the offering are still scheduled to take place.
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Aramco IPOAramco Said to Stick to IPO as Strikes Put Pressure on Valuation
Bankers hired for Saudi Aramco’s mammoth initial public offering plan to stick to their schedule to pitch the deal to analysts even after devastating attacks on its biggest facilities slashed oil output by half, according to people with knowledge of the matter.
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