Saudi Crown Prince Mohammed bin Salman (MbS) has staked his country’s future on selling a 5% stake in Saudi Aramco, the most valuable asset it has. And it is his hope that this IPO will help finance the country’s turnaround making it less dependent on oil revenue. It’s been trying to do this for three…
The Yemeni rebels’ drone blitz on the “nerve center” of Saudi Arabia’s oil industry was a devastating counter-offensive which potentially could end the four-year war in short order. What is even more catastrophic for the Saudi monarchy – especially the ambitious Crown Prince – is that the Houthi rebels have wielded the ultimate power to…
Amid a chorus of condemnation directed against his leadership following the slaying of controversial journalist Jamal Khashoggi, Saudi Crown Prince Mohammed bin Salman – popularly known by the moniker MbS – condemned Khashoggi’s murder in no uncertain terms on Wednesday, calling the deed a “heinous crime that cannot be justified” and promising “justice” for those…
The apparent delay in the sale of Saudi Arabia’s mammoth-sized oil firm Aramco is a symptom of dysfunctional government, analysts say. It is just one example of bizarreness emanating from the kingdom, which says it wants to unhook its economy from oil dependence. Earlier this month, a slew of conflicting reports broke claiming that the…
It is believed that the world’s largest oil company is Saudi Aramco, which is based in Saudi Arabia. It is noteworthy that Saudi Aramco is not “transparent” because it does not publish financial indicators such as profit, turnover, assets and market capitalization. Therefore, it is not represented in the ratings of the world’s largest oil…
About 80 kilometers off the coast of Haifa in Israel, a string of rigs, platforms and pipelines now work day and night, extracting natural gas from one of the largest reservoirs in the Eastern Mediterranean. This resource, known as the Tamar Field, now powers businesses and homes throughout Israel. It has helped the country approach…
