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...The boss of Lucid Motors said the US electric car start-up must not rely on the “bottomless wealth” of its Saudi Arabian backer as it looks to raise funds over the coming year....
...venture between a Chinese tech company and a Saudi counterparty....
...The oil-rich kingdom stands out as a leader of the Sunni Muslim world and custodian of Islam’s two holiest sites....
...British officials argued there was nothing unusual about the Gulf states, including Saudi, speaking regularly with Russia, one of their partners within the Opec+ oil cartel....
...The company produced an average of 10.7mn b/d of crude oil and other liquids last year, down from 11.5mn b/d in 2022....
...Saudi Arabia has dropped a plan to expand the kingdom’s daily oil production capacity, in a major policy reversal by the world’s largest oil exporter....
...Saudi Arabia has dropped a plan to boost its oil output capacity, in a major reversal from previous policy.Saudi Aramco, the world’s biggest oil producer, responsible for 10 per cent of global supply, said...
...Oil prices dropped sharply on Monday as Saudi Arabia’s decision to cut its official selling price for oil exports in February overshadowed heightened tensions in the Middle East....
...After the latest transfer, the state’s direct stake in the company will drop to 82 per cent, according to the statement by the Saudi Press Agency on Thursday....
...In the GPT case, the defendants’ alleged crimes related to payments made to Saudi officials to secure £1.6bn of contracts between the MoD and the Saudi Arabian National Guard (SANG) for the installation...
...“This is less about compliance and more about incentivising companies to grow and develop and draw value” from Saudi Arabia’s investment opportunities, the ministry said....
...“It will always be used by those who are bearish on oil as an excuse to sell oil,” he said. “What really matters is Russia and Saudi Arabia....
...Tourism is part of the crown prince’s economic diversification plan, which hopes to boost non-oil business in the world’s largest oil exporter....
...Saudi Arabia has leaned heavily on foreign consultants to help accelerate its ambitious plan to diversify its oil-dependent economy, creating a lucrative market that London-headquartered Source Global Research...
...Saudi Aramco is beefing up its global venture capital arm with a $4bn cash injection as part of a wider push to diversify the kingdom’s oil-dependent economy....
...Ministers from around the world have accused Riyadh of piling pressure on Sultan al-Jaber, COP28 president and head of the Abu Dhabi National Oil Company, to shift the text’s focus away from fossil fuels...
...A Saudi Arabia-backed investment fund is liquidating the holding company of a United Arab Emirates oil storage company that has been plagued by financial reporting issues since going public in New York....
...Opec+ members led by Saudi Arabia and Russia have extended voluntary cuts to oil production for another three months, as they attempt to boost prices that have remained subdued in spite of geopolitical tensions...
...He acknowledged that the human rights situation in Saudi Arabia “still doesn’t meet our standards” and was “still ambivalent”. But “Saudi Arabian defensive missiles are also protecting Israel”....
...“Deep corruption” is at the heart of a criminal case against two men accused of bribing Saudi Arabian officials to secure lucrative defence contracts with the UK government, according to the prosecution...
...Saudi Arabia is preparing to prolong oil production cuts into next year as Opec+ weighs further reductions in response to falling prices and rising anger over the Israel-Hamas war....
...The decision by Opec+ members to extend voluntary oil production cuts to July has merely delayed the difficult question of how long Saudi Arabia is willing to bear the weight of lower global output, say...
...Saudi Arabia’s economic partnership with Russia has been most strongly felt in the oil market....
...COP president Sultan al-Jaber — who has received huge criticism over his conflicts of interest as a major oil company chief executive — deserves credit for persuading big oil producers, notably Saudi Arabia...
...“We should abandon the fantasy of phasing out oil and gas and, instead, invest in them adequately reflecting realistic demand assumptions,” Amin Nasser, chief executive of Saudi Aramco, the world’s biggest...
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