Tag : Energy Minister Khalid Al-Falih

Saudi, Russia to work together on oil prices

International Finance DeskSeptember 5, 2016

by International Finance DeskSeptember 5, 2016

Price of oil jumps 5% September 6, 2016: The price of oil jumped by 5% after Russia and Saudi Arabia discussed ways to stabilise oil prices on the sidelines of the G20 summit in China. Both countries said they will not act immediately but could limit output in the future. The joint statement was signed...

Economy

Saudi Arabia cuts back its solar target

International Finance DeskJune 28, 2016

by International Finance DeskJune 28, 2016

No concrete reason given; wants to concentrate on gas Suparna Goswami Bhattacharya June 28, 2016: In a move that has surprised many, Saudi Arabia has scaled back its renewable power targets as the world’s largest producer of oil plans to use more natural gas, backing away from goals set when crude prices were about triple...