Oil prices hold steady in Asia
The rally in oil prices extended into Asian trade Friday, a day after the main US contract broke $40 for the first time this...
Saudi takes steps out of welfare state under King Salman
Faced with a massive decline in oil revenues, Saudi Arabia's King Salman marked his first year in power by taking steps to end his...
South Africa's Zuma in Saudi to expand economic ties
South African President Jacob Zuma called for strengthening his country's economic ties with Saudi Arabia, during a visit to the kingdom on Sunday.
"While our...
Oil market jumps on output woes in Canada and Libya
Oil prices rallied Thursday with Brent breaching $45 a barrel on worries over output from Canada and Libya, while traders reacted also to falling...
UAE backs oil producers' output freeze plan
The United Arab Emirates has thrown its support behind a plan involving oil powerhouses Russia and Saudi Arabia to freeze oil production levels in...
Saudi giant SABIC trades lower after profit drop
Shares of Saudi petrochemical giant SABIC traded almost five percent lower on Monday after the firm reported a drop of 19.57 percent in full-year...
Nigeria to split up state-run oil firm
Nigeria is to break up its state-run oil and gas firm into 30 separate companies, the country's junior oil minister announced, as part of...
Kuwait and Saudi agree to resume output at disputed oilfield
Saudi Arabia and Kuwait have reached a deal to resume production at the disputed Khafji offshore oilfield, Kuwait's acting oil minister said on Tuesday.
"An...
Saudi Kayan pulls down Tadawul index
Shares in Saudi petrochemical manufacturer Saudi Kayan tumbled on Thursday after it swung to a third-quarter loss, pulling down the Tadawul All-Share index.
Most Middle...
Saudi Arabian builders delay payments amid state spending clampdown
Some Saudi Arabian construction companies are struggling to pay their staff on time in a sign of growing pressure on the economy from low...
