Saudi Oil Deals

While the dollar will continue to hold sway in the foreseeable future, the world without a doubt is moving towards an alternative currency. The lapse of the petro-dollar deal will act as a catalyst for this de-dollarisation process.

Oil futures climbed on Monday after Saudi Arabia hiked June crude prices for most regions and as the prospect of a Gaza ceasefire deal appeared slim, renewing fears the Israel-Hamas conflict could still widen in the key oil-producing region.

The US and Saudi Arabia are looking beyond last year's oil spat to focus on billions of dollars-worth of defense and aviation deals and potential nuclear cooperation.

Saudi Arabia raised the July official selling price (OSP) for its flagship Arab light crude to Asia by $2.10 from June to a $6.50 premium over Oman/Dubai quotes, just off an all-time peak recorded in May

Hot Mic with Nidhi Razdan: When he was campaigning for president, Joe Biden said Saudi Arabia should be made a pariah for its human rights record. Now, in a dramatic turnaround, he is going out of his way to repair that relationship.

Wall Street has Fed-speak - a turgid dialect of English, a mixture of obfuscation and cryptic messaging. The oil market has Saudi-speak - a language of smoke-and-mirrors

Last week, Reliance and Saudi Aramco have called off a deal for the state oil giant to buy a stake in the oil-to-chemicals business of Reliance due to valuation concerns.

Reliance Industries and Saudi Aramco have called off a deal for the state oil giant to buy a stake in the oil-to-chemicals business of the conglomerate due to valuation concerns, sources with knowledge of the matter said.

Aramco, the world's top oil exporter, signed a non-binding agreement to buy a 20 per cent stake in Reliance's O2C business for $15 billion in 2019.

After missing two self-imposed deadlines, billionaire Mukesh Ambani's Reliance Industries Ltd has shelved a proposed deal to sell a 20 per cent stake in its oil refinery and petrochemical business to Saudi Aramco for an asking of USD 15 billion.

Billionaire Mukesh Ambani-led Reliance Industries has withdrawn its application with the National Company Law Tribunal (NCLT) for segregating its oil-to-chemicals (O2C) business, following a mutual decision with Saudi Aramco to re-evaluate the stake sale of the O2C arm. The move came in light of Reliance's new energy business plans and the ''evolvi...

The move is part of an onslaught on international debt markets by Gulf issuers seeking to plug finances hit by the pandemic and weak oil prices, which has pushed regional issuance past last year's record to surpass $100 billion.

Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman said the OPEC+ deal on oil output cuts could be adjusted if there is consensus among members of the group.

When naming his telecom foray in 2016, Mukesh Ambani chose the mirror image of OIL, the commodity that has made him India's richest man. In hindsight, Jio was a good choice. The week that oil prices turned negative, the refining tycoon won a $5.7 billion investment from Facebook Inc. for his digital assets, Jio Platforms Ltd. Like his wordplay, the...

US President Donald Trump said Thursday that Russia and Saudi Arabia are "close" to agreeing on production cuts to prop up oil prices.

While the dollar will continue to hold sway in the foreseeable future, the world without a doubt is moving towards an alternative currency. The lapse of the petro-dollar deal will act as a catalyst for this de-dollarisation process.

Oil futures climbed on Monday after Saudi Arabia hiked June crude prices for most regions and as the prospect of a Gaza ceasefire deal appeared slim, renewing fears the Israel-Hamas conflict could still widen in the key oil-producing region.

The US and Saudi Arabia are looking beyond last year's oil spat to focus on billions of dollars-worth of defense and aviation deals and potential nuclear cooperation.

Saudi Arabia raised the July official selling price (OSP) for its flagship Arab light crude to Asia by $2.10 from June to a $6.50 premium over Oman/Dubai quotes, just off an all-time peak recorded in May

Hot Mic with Nidhi Razdan: When he was campaigning for president, Joe Biden said Saudi Arabia should be made a pariah for its human rights record. Now, in a dramatic turnaround, he is going out of his way to repair that relationship.

Wall Street has Fed-speak - a turgid dialect of English, a mixture of obfuscation and cryptic messaging. The oil market has Saudi-speak - a language of smoke-and-mirrors

Last week, Reliance and Saudi Aramco have called off a deal for the state oil giant to buy a stake in the oil-to-chemicals business of Reliance due to valuation concerns.

Reliance Industries and Saudi Aramco have called off a deal for the state oil giant to buy a stake in the oil-to-chemicals business of the conglomerate due to valuation concerns, sources with knowledge of the matter said.

Aramco, the world's top oil exporter, signed a non-binding agreement to buy a 20 per cent stake in Reliance's O2C business for $15 billion in 2019.

After missing two self-imposed deadlines, billionaire Mukesh Ambani's Reliance Industries Ltd has shelved a proposed deal to sell a 20 per cent stake in its oil refinery and petrochemical business to Saudi Aramco for an asking of USD 15 billion.

Billionaire Mukesh Ambani-led Reliance Industries has withdrawn its application with the National Company Law Tribunal (NCLT) for segregating its oil-to-chemicals (O2C) business, following a mutual decision with Saudi Aramco to re-evaluate the stake sale of the O2C arm. The move came in light of Reliance's new energy business plans and the ''evolvi...

The move is part of an onslaught on international debt markets by Gulf issuers seeking to plug finances hit by the pandemic and weak oil prices, which has pushed regional issuance past last year's record to surpass $100 billion.

Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman said the OPEC+ deal on oil output cuts could be adjusted if there is consensus among members of the group.

When naming his telecom foray in 2016, Mukesh Ambani chose the mirror image of OIL, the commodity that has made him India's richest man. In hindsight, Jio was a good choice. The week that oil prices turned negative, the refining tycoon won a $5.7 billion investment from Facebook Inc. for his digital assets, Jio Platforms Ltd. Like his wordplay, the...

US President Donald Trump said Thursday that Russia and Saudi Arabia are "close" to agreeing on production cuts to prop up oil prices.