Economy

Aramco participates in King Salman's Russian Federation visit, explores bilateral energy investments

Aramco participates in King Salman's Russian Federation visit, explores bilateral energy investments”

Mr Nasser said at a panel discussion at the Saudi-Russian Business Investment Forum in Moscow during Saudi Arabia's royal visit to Russia.

"The brighter prospects for Brent amid decline of oil stocks in the U.S. and expected extension of the OPEC+ agreement on the output cut have become the positive drivers for the Russian stock market", BCS investment bank said in a note.

Russia's energy giant Gazprom and Saudi Aramco have signed a memorandum of understanding on cooperation in gas projects, including in production of liquefied natural gas (LNG), according to a Gazprom press release published on Friday.

Following the talks, Saudi Arabian Military Industries (Sami) said it signed agreements with Russia's state arms trader, Rosoboronexport, for the purchase of cutting-edge Russian weapons, including the long-range S-400 air defence missile systems.

This leaves Moscow aligned with Saudi Arabia's arch-rival Iran, whose influence Riyadh fears is growing in the region.

Quoting multiple sources, a news wire Reuters report said that "Saudi Aramco will open an Indian subsidiary next week, as the global oil exporter looks to tap rising demand and invest in the world's third-biggest consumer".

SAMI says that the agreements also include educational and training programs for Saudi nationals to ensure the sustainability and development of the military industries sector in Saudi Arabia.

Salman said he was looking to expand relations with "friendly nation" Russian Federation "in the interests of peace, security and development of the world economy". Russian Federation would like Saudi Arabia to become a shareholder in the project but the source said there were also other roles the kingdom could take. One such deal involves joint oil research between Aramco and Gazprom Neft. "And there is a lot that can be done with Russian companies".

His son, Prince Mohammed bin Salman, visited in May just before his elevation to crown prince, and in 2015 the countries' sovereign wealth funds agreed to $10 billion in investments.

Meanwhile, Amin H Nasser, Saudi Aramco president and CEO said the rich endowment of resources of both Saudi Arabia and Russian can enable companies from both countries to collaborate in creating synergies for a sustainable energy future with business and operational initiatives driven by technology, research and innovation.



Like this

loading...
loading...

Latest


07 October 2017
ValuEngine Upgrades Pretium Resources, Inc. (PVG) to Hold
Over a month, it has seen its stock price volatility to stay at 2.02% while shortening the period to a week, volatility was 2.01%. According to analysts Pretium Res Inc (NYSE:PVG)'s minimum EPS for the current quarter is at $0.01 and can go high up to $0.12.

07 October 2017
Galaxy Tab has got the long-awaited update
In addition to the Android Nougat OS update, the users also get updated to the August 2017 Android Security Patch. So far, the reason for this issue is anyone's guess, as Samsung is yet to issue a statement on the matter.

07 October 2017
AstraZeneca plc (AZN) Earns Overweight Rating from Barclays PLC
The stock is now moving above its 20-Day Simple Moving Average of 3.1% with a 50-Day Simple Moving Average of 10.04 percent. The stock was bought at an average cost of GBX 4,370 ($57.97) per share, for a total transaction of £1,704.30 ($2,260.64).

07 October 2017
Vehicle Related To Las Vegas Mass Shooting Located By Police
The Islamic State group has claimed responsibility for the massacre, but McMahill said authorities had not uncovered "no known nexus" between the jihadist group and Paddock.

07 October 2017
AMG National Trust Bank Trims Holdings in Phillips 66 (PSX)
The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.07. Lsv Asset Management increased Pultegroup Inc. (CARB) by 30.07% based on its latest 2017Q2 regulatory filing with the SEC.

07 October 2017
Austria vs Serbia World Cup Qualifying UEFA 2018 (0-1)
The group winners automatically qualify, while the best eight second-place finishers from the nine groups advance to the playoffs. Third-placed Ukraine defeat bottom-side Kosovo 2-0 to join Serbia on 17 points, but they have an inferior goal difference.

07 October 2017
Pulisic central midfield vs Panama; Besler, Gonzalez in back
The U.S.is 5-0-2 against Panama in World Cup qualifiers, including a 3-0-0 record in matches played in the U.S. This time we gave them space and that was the error . "I thought the three of them did a really good job".

07 October 2017
Next Weeks Broker Price Targets For Noble Energy Inc. (NYSE:NBL)
Therefore 74% are positive. 08/11/2017 - Noble Energy Inc . was upgraded to "neutral" by analysts at Seaport Global Securities. The Average Earnings Estimate for the Current Fiscal quarter is $-0.04 per share, according to consensus of 29 analysts.

07 October 2017
Insider Trading at Thor Industries Inc.?
Camarda Advsrs Ltd Liability stated it has 0.02% of its portfolio in Thor Industries, Inc . (NYSE:CMI) or 25,110 shares. It is positive, as 48 investors sold Thor Industries, Inc . shares while 127 reduced holdings. (NYSE:THO).

07 October 2017
Time, live streaming and where to watch on TV
Ever since Brazil landed in Kochi , the talk has been more about the absence of their talismanic striker Vinicius. With tickets for the game sold out within no time, fans will flock to the stadium and cheer the two sides.