As tensions escalate across the Middle East and the Strait of Hormuz faces effective closure following US and Israeli strikes on Iran, Saudi Arabia has activated a long-standing contingency plan to keep its oil flowing—deploying a decades-old (...)
Global oil markets sent a clear signal this week that a massive release of 400 million barrels of stockpiled crude by the United States and its allies is not enough to address the unprecedented supply disruption triggered by the war with Iran. Crude (...)
Oil prices climbed on Wednesday as markets questioned whether a planned record release of emergency oil reserves could offset supply disruptions caused by the escalating US–Israeli conflict with Iran.
Brent crude increased 59 cents, or 0.7 per cent, (...)
Saudi Arabia has diverted millions of barrels of crude oil to its Red Sea ports, tripling export volumes from its western coast this month to maintain global supplies as the conflict involving Iran disrupts shipments through the Strait of (...)
Egypt is prepared to facilitate the transport of Saudi Arabian crude oil from the Red Sea port of Yanbu to the Mediterranean via the Sumed pipeline, Petroleum Minister Karim Badawi said on Tuesday.
The statement follows a Reuters report citing three (...)
Egypt's Suez Canal Economic Zone (SCZONE) said on Wednesday its ports handled key strategic cargo this week, highlighting their role in supporting national projects and boosting trade flows.
Port of Sokhna received the Ro-Ro vessel Bahri Abha with (...)
Saudi Arabia's General Food Security Authority (GFSA) has secured 307,000 tons of wheat through its fourth tender of 2024, further reinforcing the kingdom's strategic wheat reserves.
The wheat will be imported from regions including the European (...)
Container traffic at Saudi Arabia's ports increased by 14.6 per cent in 2023, surpassing 5 million TEUs (twenty-foot equivalent units). This growth includes 3.4 million TEUs inbound and 2.2 million TEUs outbound.
According to the latest Saudi Arabia (...)
Mawani has introduced Folk Maritime Company's new NRS shipping services at Jeddah Islamic Port, aiming to enhance connectivity between the Kingdom and the northern Red Sea ports. This strategic move caters to the burgeoning market demands and trade (...)
Saudi Arabia and Italy are discussing joint investments in several sectors, including automotive, mining, oil & gas, defence, hydrogen, and space, as the Italian Minister of Industry, Adolfo Urso stated on Monday.
Italian Prime Minister Giorgia (...)
يُشير مطار ينبع إلى مطار الأمير عبد المحسن بن عبد العزيز، والذي قامت الحكومة بتأسيسه عام 2010م، حيث يقع المطار بالقرب من مدينة ينبع في المملكة العربية السعودية، وتبلغ مساحته 0.0084 كيلومتر مربع، ويخدم المطار منطقة المدينة المنورة في المملكة.
تنطلق (...)
Egypt condemned the latest Houthi terrorist attacks against Saudi Arabia, which targeted a number of economic and civil facilities on 20 March.
The attack was carried out by drones and ballistic missiles, causing material damage to some vital (...)
There is growing geopolitical tension in the Gulf as observers anticipate an escalating "shadow war" — so described in the British Telegraph — between Iran and Israel. They refer to attacks on tankers and vessels in the region allegedly by the two (...)
Saudi Arabia said on Tuesday it had intercepted an explosive-laden boat off the Red Sea port of Yanbu after maritime security firms cited "unconfirmed reports" of an attack on a vessel in the area.
A Saudi defence ministry statement on state media (...)
A fuel tank at an oil facility in Saudi Arabia caught fire after being struck in an attack by Yemen's Houthi rebels, officials said Friday, an attack that came on the sixth anniversary of the kingdom's entry into Yemen's yearslong civil war.
The (...)
The U.S. military is exploring the possibility of using a Red Sea port in Saudi Arabia and an additional two airfields in the kingdom amid heightened tensions with Iran, the military said Tuesday.
While describing the work as `contingency' planning, (...)
Already hit by further restrictions as a result of a second wave of the Covid-19 coronavirus after many months of relative freedom, the French Mediterranean port city of Marseilles, like the rest of France, was once again put under lockdown at the (...)
Saudi cement sector has not witnessed any impact from the coronavirus pandemic in terms of year-on-year during the first quarter of 2020, according to a report by Al Rajhi Capital.
The total market volume in the first-quarter grew 33 percent on an (...)
A total 866 Egyptians, who were trapped in Saudi Arabia, have been repatriated on Tuesday, under the supervision of the Egyptian consulate in Jeddah, after the Saudi authorities suspended flights with Egypt.
In a statement, the consulate said it is (...)
Major Gulf stocks retreated on Thursday, mirroring a decline in global shares and oil prices, as investors remained anxious about the spread of a new flu-like virus in China.
Deaths from China's new coronavirus rose to 17 on Wednesday, with more (...)
Most Gulf stock markets moved marginally on Monday, with the Saudi index snapping a three-day winning streak dented by losses in financials and petrochemical sectors.
In Saudi Arabia, the benchmark index dropped 0.7 percent with Al Rajhi Bank losing (...)
Most major Gulf stock markets slipped on Wednesday, in line with global equities amid concerns about a slowdown in the world economy, but Kuwait continued to rally in the wake of MSCI's decision to upgrade Kuwaiti equities to its main emerging (...)
United States National Security Adviser, John Bolton, said on Wednesday that the attacks which targeted oil tankers off the coast of the United Arab Emirates this month were the work of "naval mines almost certainly from Iran."
The tanker attacks (...)
U.S. National Security Adviser John Bolton said on Wednesday that attacks on oil tankers off the coast of the United Arab Emirates this month were the work of “naval mines almost certainly from Iran”.
The UAE has not yet blamed anyone for the (...)
Oil prices in global markets stabilised at around $72.11 per barrel at the close of trading after two Saudi oil tankers were attacked, with markets eyeing political moves in the region that would have a big impact on oil.
Medhat Youssef, former (...)
