No one envies the Saudi Arabians now. Yes, the Brent price has rebounded from its of 2015-16 lows to stabilise over $50. At the Opec meeting in Vienna this week the delegates agreed to extend production curbs for another nine months.
Saudi Aramco today signed agreements with major U.S. companies which will pave way for the company to enhance its business synergy with the U.S. as well as attracting investments from its U.S. counterparts to the Kingdom.
Saudi Arabia will go into the meeting of OPEC and non-OPEC producers in Vienna on May 25 determined to maximize its oil revenue through high prices, even if it must make large production cuts in return.
The recent steps to increase the transparency of fiscal policy through the publication of the Fiscal Balance Program and the First Quarter Budget Report are very welcome. This greater transparency will help private businesses and investors better plan their investment and employment decisions.
Saudi Arabia’s conventional approach to market management is no longer working: crude has fallen back below $50 a barrel, US shale oil output is again on the rise and Saudi-led Opec, if anything, is worse off than when it agreed the supply deal back in November, having cut volumes for little upside on price.
Торгово-экономическое сотрудничество России и Катара демонстрирует высокие темпы и имеет солидный потенциал.
Saudi Arabia aims to produce 10 percent of its power from renewable sources in the next six years as it pushes ahead with a multi-billion-dollar plan to diversify its energy mix and free up more crude oil for export.
Aramco is gearing up for a share listing next year, aiming to get a valuation of up to $2 trillion in what could be the world's biggest initial public offering (IPO).
Lower hydrocarbon prices have adversely impacted macroeconomic performance. Growth has slowed despite still resilient non-hydrocarbon activity. Real GDP growth of 2.7 percent is estimated for 2016. Inflation remained low despite subsidy cuts, averaging about 2.7 percent in 2016.
Qatar, the world's biggest exporter of LNG, pledged almost $6.2bn worth of investment in Britain on Monday in a show of support, as UK Prime Minister Theresa May begins the formal process of negotiating a separation settlement with the European Union.
Принятие ОПЕК и ключевыми не входящими в ОПЕК производителями нефти Декларации о сотрудничестве от 10 декабря 2016 г. стало историческим по своему значению шагом, открывающим новую веху в развитии всего глобального нефтяного рынка.
The nation’s $814 billion China Investment Corp. would be the principle investor in the planned flotation by Saudi Arabian Oil Co., according to the people, who asked not to be identified because the talks are private. China National Petroleum Corp. may also invest in the IPO, they said. No formal agreement has been reached, according to the people.
Saudi Arabia has sought to boost oil sales to China, the world's second-largest oil market, after losing market share to Russia last year, by working mostly with China's top three state oil firms.
Trade between the countries fell overall last year as oil prices dropped. Japan's 2.1 trillion yen ($18.6 billion) in imports from Saudi Arabia in 2016, mostly oil and gas, dwarfed its exports of 546.3 billion yen ($4.8 billion).
Rising oil production in the US, which Russia's energy ministry forecasts to grow by 400,000 b/d year on year in 2017, is being monitored, but it should not be considered separate from the global supply and demand balance, he said.