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Saudi Industrial Investment Group (SIIG) and National Petrochemical Company (Petrochem), two of the kingdom’s petrochemical companies, are planning to merge after the two posted losses. SIIG Sunday indicated in a bourse filing to Saudi Stock Exchange (Tadawul) that its board Read more
Iraq will accelerate before end of the year the signing of the pending agreement on Nibras petrochemical complex project with Shell, oil minister of the Arab country has told media. “After a series of meetings with Shell representatives over the Read more
Saudi Arabia’s energy giant has discovered two oil and gas fields in the northern regions of the Gulf country. The oil field, according to Energy Minister Prince Abdulaziz bin Salman Al-Saud, lies to the south east of the northern city Read more
Saudi Arabia’s energy giant Aramco has named a new CEO for its $500 venture capital and investments arm, Gulf Business reports citing sources with knowledge of the matter. The new appointee, Mahdi Aladel, former head of the company’s base oils Read more
The Japan Bank for International Cooperation (JBIC) and Mizuho Bank have signed a syndicated bank facility worth $330 million to fund the construction of Qatar’s first mega solar power plant, Japan Times reports. “This loan is expected to contribute to Read more
Oman will launch operations of its biggest solar plan, Ibri II, by mid-2021, Trade Arabia reports. The project located in near Ibri, the capital of the Dhahirah Governorate, is currently under construction. Acwa Power, Gulf Investment Corporation (GIC) and Alternative Read more
Syria and Turkey Sunday condemned as illegal an alleged oil deal between a US firm and Kurdish rebels [Syrian Democratic Forces (SDF)] controlling the northeastern part of the war-torn country. The Syrian foreign ministry, Reuters reports, in statement accused the Read more
Saudi Arabia’s national oil giant has begun cutting hundreds of jobs across various sectors amid slump in oil demand due to covid-19 pandemic, Bloomberg reports citing anonymous sources. The cuts concern mostly positions held by expats the sources aware of Read more
Saudi Basic Industries Corporation (SABIC) has named a new chairman in line with the company’s takeover by the kingdom’s oil giant Aramco. Khalid Hashim Al Dabbagh will succeed Abdulaziz Saleh Aljarbou, following an approval on June 16, Zawya reports citing Read more
Saudi Arabia’s oil giant Aramco has acquired 70 per cent of Saudi Basic Industries Corporation (SABIC) in four transactions for a combined investment of $69.1 billion, Zawya reports. The deals posted on the Saudi Stock Exchange Tadawul, stressed that one Read more