China and Saudi Arabia signed a number of agreements, including on energy and investments, after their leaders met in Riyadh on Thursday at a summit that showcased deep and growing ties beyond oil.
The King Abdullah Petroleum Studies and Research Center (KAPSARC), a leading Riyadh-based advisory think tank, has signed a memorandum of understanding (MoU) with the Economics & Technology Research Institute (ETRI), a research institute affiliated with the China National Petroleum Corporation (CNPC), to foster cross-regional cooperation in energy research.
Arabian Drilling Co., a Saudi oilfield-services firm partly held by Schlumberger NV, drew $43 billion in orders for its initial public offering, underscoring the strong investor appetite for Middle Eastern share sales.
The lack of fungibility of the gas market is set to pose a major challenge for Europe in the near term, the heads of Saudi Aramco and Shell agreed today.
Arabian Drilling Co., a Saudi Arabian oilfield-services company partly owned by Schlumberger NV, took only hours to garner enough investor orders to fully cover an initial public offering that could raise as much as 2.67 billion riyals ($710 million).
Saudi ministers insisted that oil policy decisions would be taken according to market logic and within the OPEC+ coalition, just as US President Joe Biden wrapped up a landmark trip to the kingdom.
Watch out Iraq and Saudi Arabia, Russia is making huge inroads into the Indian oil market and has quite possibly become the largest supplier to the giant Asian buyer.