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Saudi Arabia’s budgetary deficit is set to continue to the next fiscal year after recording a $98billion deficit in 2015 with oil revenues providing 72% of the country’s income, compared to 87% last year, despite the drastic fall of prices. Read more
King Salman has reshuffled his cabinet for the second time with the first one dating back to last month. Compared to the first one, the King made major changes this time around signaling a shift at the top of the Read more
Chief Executive Khalid al-Falih of Saudi Aramco was speaking at the World Energy Congress in Daegu, South Korea, when he mentioned that they are ready to begin shale gas production together with other unconventional resources to generate more power. The Read more
Saudi state-oil company Aramco suffered lately its biggest cyber attack ever that affected about 30,000 workstations of the firm. The attack, which apparently had no direct impact on crude production, forced the Saudi oil giant to shut down part of Read more