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/File Photo

OPEC Compliance Reaches Peak in January

by Wael Mahdi | Feb 7, 2017 | Business

Khobar – This is not the first time OPEC countries agree to reduce product, but it is the first time compliance with the agreement reaches 80%-90%, the highest level in the history of OPEC. Five surveys of OPEC outcome in January revealed that OPEC abided by the...

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Saudi Arabia’s Energy Minister Khalid al-Falih talks to journalists before a meeting of OPEC oil ministers in Vienna, Austria, June 2, 2016. REUTERS/Leonhard Foeger/File Photo

KSA Establishes Specialized Office to Develop Renewable Energy Projects

by Shuja Al-Baqmi | Feb 2, 2017 | Business

Riyadh- Saudi Arabia will invite international and local companies to bid for renewable energy projects in April, Minister of Energy, Industry and Mineral Resources Khalid al-Falih said on Wednesday. Al-Falih, speaking at a news conference in Riyadh, said the projects...

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Deputy Crown Prince Mohammed with the CEO of Third Point LLC, Daniel S. Loeb,and Minister Khalid al-Falih (SPA)

Deputy Crown Prince Chairs Meeting of Saudi Economic Affairs, Development Council

by Asharq Al-Awsat | Jan 26, 2017 | Saudi Arabia

Riyadh – Deputy Crown Prince Mohammed bin Salman, Second Deputy Premier and Minister of Defense, chaired at al-Yammamah Palace a meeting of the Economic Affairs and Development Council. During the meeting, the council reviewed a number of economic and developmental...

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Khalid al-Falih, Saudi Energy Minister, attends a session at the annual meeting of the World Economic Forum in Davos January 23, 2014. — Reuters pic

Saudi Energy Minister: Cut Deal Not Needed Beyond 6 Months

by Wael Mahdi | Jan 18, 2017 | Business

Khobar- Saudi Arabia’s Energy Minister Khalid al Falih, in an interview at the World Economic Forum in Davos, said on Tuesday that the oil cut deal struck between Oil Producing and Exporting Countries (OPEC), will not be necessary beyond June. The window of...

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Minister of Finance Mohammed Al-Jadaan attends a joint press conference. — SPA

Saudi Arabia: Gradual Modification of Energy Prices, No Income Taxes

by Shuja Al-Baqmi | Dec 23, 2016 | Saudi Arabia

Riyadh – Saudi Arabia has announced that there are no limits for what it’s willing to spend for the sake of defending the country. “The kingdom will not determine the spending for the sake of defending the country — we took into consideration...