Middle-east Arab News Opinion | Asharq Al-awsat

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Facilities at phases 2-3 of the South Pars gas field, owned jointly by Iran and Qatar, are illuminated at night in Assaluyeh on Iran’s Persian Gulf coast, May 27, 2006. REUTERS/Morteza Nikoubazl

Aramco to Reduce Oil Prices in September Contracts

by Wael Mahdi | Aug 1, 2016 | Business

Khobar- Oil refinery profits dropped in July to a record rate in three and a half years. Amid these harsh conditions in the global refining industry, forecasts showed that Aramco will be compelled to offer discounts to encourage clients to load more shipments. Saudi...

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Aramco Appoints Buainain as CEO of Trading Arm

by Wael Mahdi | Jul 27, 2016 | Business

Khobar-Saudi oil giant Aramco has appointed Ibrahim al-Buainain as chief executive officer of its trading unit, replacing Yasser Mufti, who was named executive director of new business development in June. Buainain held the position of head of transaction development...

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Privatization will not be broached to production in Kuwait

Kuwait Studies Plans on Publicly Listing Four Oil Subsidiaries

by Wael Mahdi | Jul 13, 2016 | Business

Khobar- It seems that regional oil companies will soon be taken over with a raging fever for privatization. Soon after Saudi Arabia announced intentions on offering a low but effective five percent of the Saudi oil giant Aramco to public stocks, Kuwait followed...

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AP

Saudi Minister of Energy: IPO of Saudi Aramco Depends on Oil, Stock Market

by Wael Mahdi | Jul 12, 2016 | Business

Al-Khobar – Saudi Minister of Energy Khalid al-Falih announced that Initial Public Offering (IPO) of Saudi Aramco depends on oil and stock market conditions. Speaking to German newspaper “Handelsblatt”, Falih said that will have a role to play in mapping out the...

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Saudi Arabia Reduces Oil Prices. Reuters

Saudi Arabia Reduces Oil Prices

by Wael Mahdi | Jul 1, 2016 | Business

Khobar-Saudi Aramco announced on Thursday the list of new prices for August as it will cut all official selling prices for its crude sales to Asian and U.S. clients. State-owned Saudi Arabian Oil Co. lowered its official selling price for Arab Light crude to Asia by...