Tag Archives: Arabian Business (weekly newspaper)

Russia and Saudi Arabia Step up Oil Diplomacy

Russia and Saudi Arabia held a second, and unusual, phone call this week to discuss the OPEC+ agreement after officials from the group warned on Friday of the potential for a weaker oil market in 2021. President Vladimir Putin and Saudi Arabia Crown Prince Mohammed Bin Salman spoke Saturday in …

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IEA Warns Oil Demand Recovery at Risk from Covid-19 Resurgence

The International Energy Agency bolstered its outlook for global oil demand, but warned that the recovery could be derailed by the resurgence of coronavirus. A collapse in fuel consumption during the second quarter was slightly less severe than previously estimated, and demand should rebound sharply over the next three months …

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Aramco Seeks to Restructure $69.1 Billion Sabic Deal

Saudi Aramco is in early talks about further staggering payments for a controlling stake in local petrochemical giant Saudi Basic Industries Corp. as the collapse in oil prices puts pressure on its finances. State-owned Aramco is weighing pushing out payments for the 70% holding in the petrochemicals maker and reducing …

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