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  • Jadwa Chartbook June 2012: Trade
     

    Riyadh-based Jadwa Investments recently released its June, 2012 Saudi ‘Chartbook’ which includes updates on the Saudi economy, trade, oil metrics as well as assessments of various sectors including banking. Below is a snapshot of Jadwa’s analysis of Saudi imports and exports and letters of credit. 

     
  • Jadwa Chartbook June 2012: Banking
     

    Riyadh-based Jadwa Investments recently released its June, 2012 Saudi chartbook which includes updates on the Saudi economy, trade, oil metrics as well as assessments of various sectors including banking. Below is a snapshot of Jadwa’s banking sector analysis.

     
  • Saudi Construction Sector: A Sleeping Giant Awakes
     

    Deloitte’s recently released report, “GCC powers of construction 2012: Five lessons to learn” assesses the current prospects of Saudi Arabia’s construction sector.  Deloitte paints a very optimistic picture noting Saudi Arabia’s leading position in the GCC with regard to population and GDP.  It also highlights the ambitious spending plans established in the latest 5-year development plan announced in […]

     
  • Oil Prices Fall Below Break-Even for Several Nations
     

    Citibank expects that Russia will have a very turbulent next five years, given their estimate that Brent crude prices will likely settle close to $85 over that time period. Oil producers are beginning to feel the future threat of peak demand for oil caused by multiple factors — including unconventional liquid fuels — breathing down […]

     
  • Changing patterns in U.S. crude imports
     

    U.S. crude oil import patterns have been undergoing significant shifts in recent months. While growing domestic tight oil production from the Bakken formation in North Dakota and elsewhere has helped displace imports from some countries, U.S. import volumes from the Canadian oil sands and Saudi Arabia have been on the rise. In total, U.S. crude […]

     
  • Saudi Satire Ignites YouTube’s Massive Growth in Middle East
     

    Fahad Albutairi never expected a career in broadcast or comedy, and he certainly didn’t expect to emerge as a YouTube star known to millions. Albutairi is the co-founder and star of the La Yekthar Show, a small cadre of YouTube shows shot in Saudi Arabia that have become wildly popular in the last year. His […]

     
  • Saudi female entrepreneurs exploit changing attitudes
     

    In Saudi Arabia, a small but determined number of women are overcoming obstacles to build their own thriving businesses. Social constraints in the conservative Kingdom have not stopped women from amassing substantial individual wealth. An estimated $11.9 billion is held by women primarily in bonds and bank accounts, according to asset managers Al Masah Capital. […]

     
  • Saudi Budget Needs Less Than $80/Bbl To Be Balanced
     

    Top oil exporter Saudi Arabia would still be able to balance its budget even if oil prices fall to less than $80 per barrel, Al Arabiya television reported Tuesday, citing the kingdom’s finance minister, Ibrahim Al-Assaf. “As you know the oil revenues are affected by two factors; price and production…the price that leads to a […]

     
  • SACM Career Fair and Graduation Ceremony Begins in Washington
     

    Saudi students from around the United States are descending on the U.S. capital for a graduation ceremony and career fair organized by the Saudi Arabian Cultural Mission (SACM) on May 26-27. SACM, in coordination with the Saudi Ministry of Higher Education, will host the SACM Career Fair and Graduation Ceremony this weekend at the Gaylord […]

     
  • Saudi Arabia’s Bond With U.S. ‘Goes Beyond Energy’
     

    The U.S. and Saudi Arabia have a close relationship with a bond “that goes far beyond energy,” Saudi Oil Minister Ali al-Naimi said. The minister told graduates during his commencement speech at Lehigh University in Bethlehem, Pennsylvania, that “We seek together a world of greater understanding, mutual tolerance, and respect for human dignity and personal […]

     

MUST-READS

  • Analysis: Ukraine War: OPEC, Saudi Arabia Wants Russia as an Oil Ally

    For the OPEC+ oil cartel, wars are business as usual. In fact, wars among its own members are pretty normal, too. Iran and Iraq remained OPEC allies-cum-rivals during their 1980-1988 war. The oil ministers of Iraq and Kuwait sat down at the same table even after Baghdad invaded its neighbor in 1990. And today Saudi Arabia and Iran talk about oil even when Riyadh says that Tehran sponsors the Yemeni Houthis that are throwing missiles at the kingdom.

  • OPEC+ sticks to modest oil output rises, ditches IEA data

    OPEC and allies including Russia agreed on Thursday to another modest monthly oil output boost, resisting pressure to pump more, and ditched the Paris-based International Energy Agency as a data source in a sign of a hardening standoff with the West. The group has resisted repeated calls by the United States and the IEA to pump more crude to cool prices that climbed close to an all-time high after Washington and Brussels imposed sanctions on Moscow following its invasion of Ukraine.

  • Islamic Finance Deals Have the Best Start Ever With Oil Up 40%

    Global offerings of sukuk are off to their busiest start on record this year, with bankers at HSBC Holdings Plc and Deutsche Bank AG citing the high price of oil as a driver of the vibrant issuance. Sales of new sukuk maturing in at least a year have touched nearly $24 billion so far in 2022, the best start to any year, according to Bloomberg-compiled data going back to 1999. Saudi Arabia and Turkey were the two biggest issuers.

  • Kazakhstan braces for oil output drop amid CPC terminal trouble

    Kazakhstan is poised to cut back oil production by around one-fifth in April while repairs are carried out on a loading terminal at a damaged Black Sea port in Russia. The Energy Ministry said on March 29 that daily oil output will be pegged back by 320,000 barrels, equivalent to around 50,000 tons. Last year, Kazakhstan produced 85.7 million tons of oil.

  • Oil Slumps as U.S. Weighs Reserves Release to Combat Inflation

    The U.S. could release as much as 180 million barrels from its reserves, the people said, providing relief to a market that’s dangerously tight due to the war in Europe. The invasion has fanned inflation and led to wild volatility across commodity markets, with global benchmark Brent crude set for the widest trading range on record this month.

  • Oil Slumps as U.S. Weighs Reserves Release to Combat Inflation

    West Texas Intermediate futures fell more than 4% to trade near $103 a barrel, trimming a fourth monthly gain. The U.S. is considering a release of roughly 1 million barrels of oil a day for several months, said people familiar with the matter. The news comes ahead of an OPEC+ meeting Thursday and follows calls by Saudi Arabia for the U.S. to trust its strategy of managing the market.

  • Saudi index hits highest level in 16 years as oil prices recover

    Gulf indexes ended higher on Tuesday, with the Saudi index touching its highest level in 16 years, as tight supplies and stable demand drove oil prices higher ahead of peace talks between Russia and Ukraine. Oil prices recovered some of the previous session's losses as Kazakhstan's supplies continued to be disrupted and major producers showed no sign of being in a hurry to boost output significantly.

  • Saudi Aramco May Hike Oil Price by Record Amount Despite China Risk

    Saudi Arabia, the largest oil exporter, will likely boost pricing of its main crude variety to a record as the impact of Russia’s invasion of Ukraine reverberates through markets more than a month after the assault. Saudi Aramco may raise the official selling price of its key Arab Light crude by $5 a barrel to Asia for May-loading cargoes, according to the median estimate in a Bloomberg survey of five refiners and traders. That would increase the overall differential to $9.95 above the Oman-Dubai benchmark, which would be the widest since Bloomberg began compiling the data in 2000.

  • Saudi energy minister says OPEC will leave politics out of oil decisions

    Speaking to CNBC on Tuesday, Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz Al Saud said the organization’s very existence was dependent on a separation of its mission to stabilize oil prices from other geopolitical factors, even in the event of a widely-condemned invasion.

  • Saudi Net Foreign Assets Drop Again While Awaiting Oil Windfall

    Saudi Arabia’s net foreign assets fell for the third month in a row in February as the government waits for a windfall from higher oil prices to transfer through to its reserves. Net foreign assets held by the central bank declined by 1.2% to around $424 billion last month, the lowest level since 2010. But rises and falls in the stockpile have settled into a pattern since the shift to a quarterly dividend payment from Saudi Aramco in late 2019, with sharp increases around those payments and drops in the months in between.