Saudi carrier Flynas links ancient cities with Al Ula-Cairo flights
In a significant step which connects two ancient cities, AlUla International Airport celebrated the arrival of the first direct flight of leading Saudi low-cost carrier flynas from Egyptian capital Cairo. A special ceremony was held at AlUla airport on October 6 to greet the debut flight in the presence of representatives from flynas, the Royal […]
Saudi Tadawul Group awards $36.8mln project to construction firm
Saudi Tadawul Group Holding Company has awarded a project worth SAR 137.98 million to Construction & Planning Company on 6 October 2022. The project covers the fit-out works on designated floors of the group’s new headquarters (HQ) at King Abdullah Financial District (KAFD) in Riyadh, according to a bourse filing. During the first half […]
Outsized OPEC+ output cut raises global risks: Russell
The reaction to the OPEC+ decision to cut 2 million barrels per day (bpd) from it crude oil production is more instructive than the decision itself. The larger-than-expected reduction is both bullish and bearish for prices, depending on whether you are a buyer or seller, and what time frame you pick. The crude oil market […]
Saudi Arabia does not politicize oil — Al-Jubeir
Saudi Arabia does not politicize oil and the shortage is not related to the fundamentals of crude oil supply and demand, Minister of State for Foreign Affairs Adel Al-Jubeir said on Friday. Speaking to Fox News, Al-Jubeir refuted the idea that Saudi Arabia would do this [oil cut production] to harm the US. […]