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Kuwait and Saudi Arabia have reached an accord to begin production at the jointly operated Al-Khafji oil field where production was halted in October 2014 but differences still remain over the Wafra oil field. The announcement was made by Kuwaiti Read more
A day after Iranian president Hassan Rouhani said in Pakistan that “the existing difference in opinions” between Tehran and Riyadh “must be solved through dialogue”, Saudi foreign minister Adel al-Jubeir said renewing ties will require that Tehran changes its “behavior.” Read more
Saudi Arabia will be providing financial assistance to Egypt part of its $8 billion investment pledge that was made by Saudi King Salman Bin Abdulaziz at the end of last year to help save the North African country’s struggling economy. Read more
In what could be a turning point of the war in Yemen, the Houhti Movement and the Saudi-led coalition exchanged prisoners and agreed on a ceasefire along the Yemeni-Saudi border with the mediation of tribal leaders. The development raised hopes Read more
Sources under the condition of anonymity have revealed that oil rich kingdom and the world’s biggest oil producer is seeking a bank loan of between $6 and $8 billion as the low oil prices begin to take its toll on Read more
The fury between Iran and Saudi Arabia took a new dimension on Sunday as Tehran protested against Riyadh’s refusal to issue visas to a delegation that was to attend a meeting of the Organization of Islamic Cooperation (OIC) in Jeddah. 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
Lebanon is in disarray following Saudi Arabia’s decision to cancel a $3billion arms aid and the March 14 Alliance, close to Riyadh, warned that the country is in a “dangerous row” with the oil rich kingdom and its ties with Read more
Most oil dependent countries have been downgraded by Standards and Poor’s rating agency and some Gulf countries were among those affected recently with their ratings reduced by 2notches. The agency cited that the falling oil prices contributed to the decision Read more
Saudi Arabia announced its readiness to participate with ground troops in the US-led coalition against ISIL, after it gained experience in Yemen. The announcement was made by spokesman of the Saudi-led military coalition in Yemen Brigadier General Ahmed Assisi in Read more