Saudi Arabia Business News

Any near-term merger activity among Gulf banks is likely to focus on the UAE, Kuwait and Bahrain, where margins are low and the customer base relatively small, a Standard and Poor’s (S&P) analyst said. Mergers are far less likely in...

Saudi Aramco plans to raise its daily gas supplies by 30 per cent within five years to eight billion cubic feet, reports said yesterday. Aramco will also increase its daily supplies in ethane to 1bn cubic feet and those of...

Saudi Arabia is trying to enlist other oil-producing countries to support a provocative idea: if wealthy countries reduce their oil consumption to combat global warming , they should pay compensation to oil producers. The oil-rich kingdom has pushed this position...

Kingdom Holding, controlled by Saudi billionaire Prince Alwaleed bin Talal, and Indian conglomerate Tata Group are examining unspecified joint investment opportunities, the Saudi firm said on Tuesday. Kingdom Holding, one of the largest shareholders in Citigroup, said Tata Group's Chairman...

Saudi petrochemicals giant Sabic said Sunday it doubled earnings in the third quarter against the previous period as the global economy bottomed out and its product prices surged on higher oil prices. Saudi Basic Industries Corp., the Gulf's largest listed...

Saudi Arabia contributes 20,687 thousand barrels of oil per day to the world's oil basket. Being the largest producer it exports about 8,525 thousand barrels per day. The nation is also the world's 10th largest consumer of oil with consuming...