Saudi Arabia Oil, Gas, Energy and Business News May 2015

Five myths about Saudi Aramco
27 May 2015 | By Kevin Baxter
Debunking some of the recent rumours and claims about the world’s largest oil company

Saudi interbank offered rate
Heavyweights dominate deal flow
20 May 2015 | By James Gavin
Saudi Aramco’s success in sealing a $10bn facility at extremely low pricing will not necessarily lead to a flood of deals

Assets of Saudi commercial banks
Saudi banks to gain from market opening
20 May 2015 | By Edmund O’Sullivan
The kingdom’s locally incorporated commercial banks are well capitalised and are expected to be the first choice for foreign investors after the Tadawul opening on 15 June

Saudi IPO market
Foreign investors await June opening
19 May 2015 | By James Gavin
From next month, qualified foreign investors will have full access to the Gulf’s largest stock market, the Tadawul

Saudi banking: Sector in rude health
18 May 2015
The kingdom’s locally incorporated lenders have posted promising profits in 2014 as well as the first quarter of 2015, despite low oil prices and new regulations

Saudi banking sector market share 2014
Banks enjoy healthy first quarter
17 May 2015 | By James Gavin
Most of the kingdom’s banks recorded profit growth in the first three months of 2015, after a generally positive 2014, despite concerns about the impact of lower oil prices on the sector

Projects due for award in next 12 months
Projects market loses its momentum
12 May 2015 | By Mark Watts
While essential schemes are still likely to move forwards, the drop in oil prices means projects that are more speculative could be put on hold

Top 10 contractors and EPC spend by country
Oil price drop reshapes top 10 contractors
11 May 2015 | By Kevin Baxter
The decline in oil prices has led to a slowdown in project spending in the region, meaning MEED’s annual contractor survey has seen a big shake up this year

Saudi Defence Minister Prince Mohammed bin Salman bin Abdulaziz al-Saud (C) at a defence exhibition in February
MEED board report, May 2015
7 May 2015 | By Richard Thompson
Key events and trends in the region over the past month and their impact on the outlook for the Middle East and North Africa

Saudi Arabia
Focus falls on Saudi Arabia’s deputy crown prince
6 May 2015 | By Kevin Baxter
Prince Mohammed bin Salman is taking on a more powerful role in the kingdom

Regional construction awards
Construction awards dip in Middle East
5 May 2015 | By Robert Jones
Value of contract awards in region’s construction sector have fallen in first quarter

Construction projects in Mecca province
Vision for Mecca under threat
4 May 2015 | By Hossam Abougabal
While many major projects in the holy city have pressed ahead, with some nearing completion, delays have occurred as Saudi Arabia struggles to stick to its masterplan for 2040

MEED contracts awarded April 2015
Middle East contracts awarded: April 2015
3 May 2015
Nearly $5bn of contracts awarded in April in the Middle East

Al-Naimi: The legendary oil minister may retire soon
Al-Naimi’s succession challenge
30 April 2015 | By Kevin Baxter
Assistant oil minister and son of King Salman are now favourites to replace Saudi Arabia’s veteran oil minister

Divided Zone: Some analysts believe the Saudi Arabia-Kuwait dispute could degenerate into more serious problems
Trouble in the Divided Zone
28 April 2015 | By Wil Crisp
Oil production in the zone is expected to halt as Saudi Arabia and Kuwait fail to find common ground

Oil drop
Oil price drop hits Saudi Arabia
28 April 2015 | By Robert Jones
The latest IMFdata on Saudi Arabia illustrates the impact the decline in oil prices is having on the kingdom’s economy

US-based GE’s distributed power business finds promising markets in areas of volatility
GE sees opportunity in instability
27 April 2015 | By Philippa Wilkinson
Firm’s CEO of distributed power talks about supply and generation challenges in region

Corporate legal battle
The AH al-Gosaibi debt default
22 April 2015 | By Rebecca Spong
The largest corporate financial scandal that shook Saudi Arabia

Abdelmalek al-Houthi
Yemen crisis – main players
22 April 2015 | By Mark Watts
A guide to the major actors in the ongoing Yemen conflict

Global oil production
Oil price still not ready for recovery
21 April 2015 | By Kevin Baxter
Opec optimism unfounded while global market remains oversupplied