Leading News Source For Middle East
A cabinet reshuffle by King Salman has led to the merging of several ministries in the oil rich kingdom and the new arrival of new ministers; the most noticeable being the appointment of a new oil minister, in the person Read more
Saudi Deputy Oil Minister Prince Abdulaziz bin Salman and Nigerian Oil Minister Emmanuel Ibe Kachiwkuto met in Riyadh to discuss the oil market with both parties agreeing that consultations and cooperation between all oil producers are the best way to Read more
Saudi oil Minister Ali al-Naimi said that the current low oil and gas prices will be settled through increased demand in Asia. He said urbanization, population expansion, increasing prosperity and social mobility will lead to oil demand growth which will Read more
Kuwaiti Oil Minister Ali al-Omair has requested his Saudi peer Ali al-Naimi to resume work at the offshore Khafji oilfield after production was stopped in October 2014. In a letter addressed to Niami, the Kuwaiti minister pointed out that Riyadh’s Read more
Saudi Arabia’s Public Investment Fund (PIF) and Russia Direct Investment Fund (RDIF) have concluded an agreement that will lead to a $10 billion investment in Russia. The deal is one of the biggest foreign direct investments sealed by the government-run RDIF Read more
Saudi Arabia’s oil minister Ali al-Naimi rejected claims that Riyadh is behind the drastic fall of oil prices as he stressed that it is the responsibility of all oil producing countries. OPEC decided not to cut production in November and Read more
After almost a week as the new king of Saudi Arabia, Salman has signed more than 30 decrees amongst which is the reshuffling of the cabinet, the merging of the Education Ministry and Higher Education Ministry and also brought an Read more
Riyadh and Abu Dhabi have backed the decision made by the OPEC to maintain the current levels of production, and blamed speculators and producers outside the cartel for the fall in prices. During the past six months, oil prices have Read more
Gulf oil producers led by Saudi Arabia have won the case for keeping the Organization of the Petroleum Exporting Countries (OPEC) output unchanged, overriding calls from poorer members of the exporters’ group for action to halt a slide in crude Read more
Saudi Arabia’s Oil Minister Ali al-Naimi has stated that the Kingdom is willing to provide the international market with oil whenever there is shortage. He made these remarks at the sidelines of a conference he is attending in South Korea. Read more