The official selling price (OSP) for Oman crude in January will drop by $8.72 to $78.24 a barrel, the lowest since November 2010, Reuters calculations based on data from the Dubai Mercantile Exchange (DME) showed on Friday.
Zain Saudi, a Saudi Arabian telecommunication operator, has proposed a capital reduction to shareholders to eliminate all accumulated losses up to September 30, the company said in a statement on the kingdom's bourse.
The Saudi Ministry of Housing has written off SR198 million ($52.7 million) in loans given to 852 citizens, who are now dead.
Housing Minister Shuwaish Al-Duwaihi, who is also the head of the Real Estate Development Fund (REDF), c
Saudi Arabia is experiencing exponential growth in its ports and shipping sectors with projects planned and currently in progress totalling more than $30 billion.
Experts presented a series of papers to more than 200 delegates at the in
Opec leader Saudi Arabia and fellow member, the UAE signalled on Wednesday they were unlikely to push for a major change in oil output at the group's meeting this week to prop up prices that have collapsed by a third since June.
An affiliate of Saudi International Petrochemical Company (Sipchem) has restarted a methanol plant after scheduled maintenance, Sipchem said in a bourse filing.
The plant, which produces 967,000 tonnes of methanol per annum, was s
Impromptu talks between Saudi Arabia, fellow Opec member Venezuela and oil powers Russia and Mexico yielded no agreement on how to address a growing oil glut, ending without any plan to cut output despite a collapse in prices.
Gold Holding, an integrated gold investment company in the UAE, has been appointed as the exclusive distributor of PAMP minted gold bars of 100 grams or less in Saudi Arabia.
PAMP is a leading bullion brand, headquarter in Switzer
The Saudi Arabian market is fundamental to Bahrain-based Arab Shipbuilding and Repair Yard Company’s (Asry) growth strategy, the ship and rig repair yard's top officials have said.
This comes after the yard announced its