Page 26 - Saudi Arabia

Coronavirus hits Saudi royals, King and Crown Prince in isolation

More than six weeks after Saudi Arabia reported its first case, the coronavirus is striking terror into the heart of the kingdom's royal family.

Coronavirus gives chance for peace, Saudi and Yemen rebels begin ceasefire

The Saudi-led coalition began a unilateral ceasefire in Yemen's long war on Thursday, saying it hoped the initiative to prevent coronavirus in the impoverished country would lead to a wider political solution. The Iran-backed Huthi rebels have not made any comment on the coalition's declaration of a two-week pause in the five-year conflict that took effect from 0900 GMT. If the ceasefire does hold, it would be the first breakthrough since the warring parties agreed to a UN-brokered ceasefire in the port city of Hodeida during talks in Sweden in late 2018. The United Arab Emirates, a key ally in the coalition which drew down its troops last year as the conflict became increasingly intractable, applauded the Saudi move as "wise and responsible". "Hope the Huthis rise to the occasion. The COVID-19 crisis eclipses everything -- the international community must step up efforts & work together to protect the Yemeni people," UAE Minister of State for Foreign Affairs Anwar Gargash ...

Covid-19: Russia, Saudi to cut oil output if US also does; US non-committal

Global oil demand has dropped by as much as 30 per cent, or about 30 million barrels per day, as measures to reduce the virus' spread have caused a crash in demand for ATF, petrol and diesel

Seeking to halt free fall, Saudi delays May prices, looks to OPEC meeting

On Friday, Brent crude futures settled at $34.11 a barrel; in early Asia trading, prices fell to $32 a barrel, while US WeWTI) crude CLc1 fell to $ 26.15 a barrel on Sunday.

Oil rises for the second day on hopes of Saudi-Russia output deal

On Thursday, oil staged its largest one-day rally in history on prospects for a cut in supply equivalent to anywhere from 10 per cent to 15 per cent of world demand.

Covid-19: Oil crash poses test for OPEC+ after Moscow, Riyadh miscalculate

An OPEC source briefed on Saudi oil policy said the scale of the fall in demand might require action beyond the scope OPEC+ could take alone

Oil posts biggest one-day gains after Trump touts Saudi-Russia deal

Trump did not specify barrels per day (bpd), though the market expresses demand and supply in those terms

World coronavirus Dispatch: 'Painful' US experience, dubious China figures

From some scary new death toll projections coming from the US to a tobacco maker's bid to produce vaccines and Saudi planning to postpone hajj, read these and more in today's international dispatch

Saudi Aramco plans to sell pipeline stake amid a slump in crude prices

Aramco may need to raise cash this year as it confronts a historic rout in oil prices and a burgeoning list of spending obligations.

ILO welcomes G20 leaders' commitment to overcome coronavirus challenges

Ryder joined the G20 Extraordinary Leaders' Summit on Covid-19 via video link, which was hosted by Saudi Arabia

Coronavirus: In heavy debt, US oil firms hit hardest as prices collapse

Major issuers of junk bonds to finance expansion, US energy companies are in deep trouble now

SoftBank Group seeks to raise additional $10 billion for Vision Fund

The fund plans to reserve some of the remaining cash to pay back a coupon attached to the Saudi investment, said some of the people

Saudi Aramco likely to sustain higher April oil output through May: CEO

Aramco said last week it would be raising its output in April to a record 12.3 million barrels per day in a fight for market share with Russia that has helped to hammer global oil prices

Saudi Aramco reports 20.6% drop in 2019 profit over low prices, production

The energy giant posted net profits of $88.2 billion last year compared to $111.1 billion in 2018, it said in the statement to the Saudi Stock Market

Reliance buys an extra 2 mn bbls of Saudi oil for April loading: Report

Saudi Aramco has slashed its selling price for April and announced plans to raise output to a record 12.3 million bpd

BPCL buys 2 mn bbls extra oil as Saudi cuts price, plans to hike output

BPCL's head of refineries also said his company is also exploring buying additional oil from UAE

UAE, Saudi Arabia to raise oil output as crude plunges over row with Russia

Russia said on Wednesday it would not reverse its decision as it still believed cutting output would make no sense if the virus hit demand deeper than expected

Oil war escalates after Saudi, UAE promise to increase production capacity

Saudi Arabia had been insisting for weeks that the group needed deeper production cuts to tackle the demand loss caused by the quickly spreading virus.

Saudi discount to only partially transmit in product prices: IOC chief

According to Sanjiv Singh, chairman of Indian Oil Corporation, each rupee depreciation results in Rs 2,500 crore of more outgo on crude oil import

Elderly man dies in Karnataka, govt says no information on Coronavirus link

Karnataka Health Minister B Sriramulu on Wednesday said there is no confirmation that the death was due to coronavirus and test reports of his samples were awaited