Saudi Arabia

Saudi Aramco net profit soars 82% in Q1

Saudi Aramco net profit soars 82% in Q1

State-owned oil producer Saudi Aramco on Sunday reported an almost 82% rise in first-quarter net profit, broadly in line with analyst forecasts, helped by strong oil prices. Aramco, which is at par with Apple Inc as the world's most …

Apple is no longer the world’s most valuable company

Apple is no longer the world’s most valuable company

Oil giant Saudi Aramco on Wednesday surpassed Apple as the world’s most valuable firm. Aramco’s market valuation was just under $2.43 trillion on Wednesday, according to FactSet, which converted its market cap to …

Four processes of relations normalization in Middle East

Four processes of relations normalization in Middle East

President Recep Tayyip Erdoğan visited Saudi Arabia at the invitation of King Salman in the final days of Ramadan, starting a new chapter in bilateral relations. It was clear that Ankara and Riyadh needed to hold talks on many …

OPEC splits US legislators

OPEC splits US legislators

A U.S. Senate committee passed a bill yesterday that could expose the Organization of the Petroleum Exporting Countries and partners to lawsuits for collusion on boosting crude oil prices

CIA chief Burns visited Saudi Arabia

CIA chief Burns visited Saudi Arabia

CIA Director William Burns paid a secret visit to Saudi Arabia in April, where he met with Crown Prince Mohammed bin Salman. The purpose of the talks is to overcome the crisis in relations between the two countries. According to a Wall …

Why Turkey and Saudi Arabia are resetting relations

Why Turkey and Saudi Arabia are resetting relations

On 28 April Turkey’s President Recep Tayyip Erdogan landed in Saudi Arabia for a two–day visit for the first time in around five years. The trip came after several attempts to repair ties amid the acute shift …

Saudi Arabia reconciles with Lebanon

Saudi Arabia reconciles with Lebanon

The Saudi-Lebanese crisis came to a head in the fall of 2021, after a Lebanese official was revealed to have harshly criticized Saudi Arabia’s campaign in Yemen

Wind power to substitute hydrocarbons?

Wind power to substitute hydrocarbons?

The worldwide wind power market is forecast to jump from around 730 gigawatts this year to 1,200 GW by 2025 with a $17.8bn market value, according to the Global Wind Energy Council’s 2022 Wind Energy Outlook report

The West is suffering the consequences of poor energy decisions

The West is suffering the consequences of poor energy decisions

There has been an unspoken assumption that the West knows what it’s doing because it has been doing it longer than the East. Almost all developed economies are in Western Europe and North America. Yet recently, the tables have turned in …

Is the world’s black gold set for another boost?

Is the world’s black gold set for another boost?

The Organization of the Petroleum Exporting Countries Plus (OPEC+) crude production fell in March for the first time in more than a year with Western sanctions hitting Russia’s oil flows, and disruptions in Kazakhstan and …

The allure of Middle East hydrogen

The allure of Middle East hydrogen

With European and Asian gas prices hitting historic highs, even expensive hydrogen begins to look more attractive, but production costs need to drop significantly and production must be scaled up if it is to become an alternative to fossil …

Saudi Arabia to allow one million pilgrims

Saudi Arabia to allow one million pilgrims

Saudi Arabia has decided to increase the annual number of Hajj pilgrims to 1 million people, the Saudi Press Agency with reference to the Ministry of Hajj and Umrah reports. Not only about the subjects of the kingdom, but also …

F1 Grand Prix race results: Verstappen wins Saudi Arabian GP

F1 Grand Prix race results: Verstappen wins Saudi Arabian GP

Reigning world champion Max Verstappen won the Saudi Arabian Grand Prix on Sunday after a thrilling battle with Charles LeClerc. The Red Bull driver, second for most of the race, took the lead with just a few laps to go and …