Middle-east Arab News Opinion | Asharq Al-awsat

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OPEC logo is pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria September 28, 2016. REUTERS/Ramzi Boudina

OPEC Countries Show Full Compliance with Output-cut Agreement

by Wael Mahdi | Mar 26, 2017 | Business

Kuwait – Kuwait will be hosting, on Sunday, a meeting for the ministerial committee tasked with monitoring oil production of the 24 countries that have joined the international decision to reduce oil product for the purpose of restoring balance in the market and...

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A Saudi Aramco employee sits in the area of its stand at the Middle East Petrotech 2016, an exhibition and conference for the refining and petrochemical industries, in Manama, Bahrain, September 27, 2016. REUTERS/Hamad I Mohammed

Aramco to Issue Debut Islamic Bonds in Three Months

by Wael Mahdi | Mar 22, 2017 | Business

Khobar- Saudi Arabian Oil Co., Aramco, is seeking to issue USD2 billion worth debut Islamic bond sale, the first step of a plan to tap markets for $10 billion, said sources. Aramco will sell riyal-denominated Islamic bonds, or sukuk — the sukuk may be privately...

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Khalid al-Falih Saudi energy minister attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 19, 2017. REUTERS/Ruben Sprich

Saudi Arabia Cuts Exports to Stabilize Global Oil Market

by Wael Mahdi | Mar 21, 2017 | Business

Khobar- OPEC’s production cut deal, meant to ease the glut holding up the oil market, went into effect as of the start of this year and the Kingdom of Saudi Arabia has shown nothing but commitment to the deal. Saudi oil exports and production went down in rates even...

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Pump jacks drill for oil in the Monterey Shale, California, US. REUTERS/Lucy Nicholson/File Photo

OPEC’s Report Drops Oil Price

by Wael Mahdi | Mar 15, 2017 | Business

Al-Khobar – Oil prices fell after OPEC’s monthly report stated that Saudi Arabia increased its February output by 263,000 barrels per day to 10 million bpd, but the prices soon rose again after a source explained that the increase was not intended for the...

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A Saudi Aramco employee sits in the area of its stand at the Middle East Petrotech 2016, an exhibition and conference for the refining and petrochemical industries, in Manama, Bahrain, September 27, 2016. REUTERS/Hamad I Mohammed

Evercore, Moelis Aramco’s Advisors during the Company’s IPO

by Wael Mahdi | Mar 12, 2017 | Business

Khobar – Things haven’t been settled yet as which bank will be in charge of Saudi Aramco’s initial public offering (IPO) or even take the advisory role. Bloomberg reported that Aramco had added another financial advisor, Evercore Partners Inc., the US bank founded by...