Saudi Arabia

SpaceX, Elon Musk's company, has filed a confidential application for its highly anticipated U.S. Initial Public Offering, according to a source familiar with the matter. This will make space exploration a mainstream investment topic, rather than a speculative one. Here's a timeline for SpaceX’s path to a blockbuster IPO. Elon Musk launched SpaceX in March 2002 using the money he earned from selling PayPal. SpaceX failed to launch its first rocket, the Falcon 1 in March 2006. SpaceX Falcon 1 successfully launched for the first launch in September 2008. It was the first liquid-fuel rocket developed by a private company...

Elon Musk's spaceX could be the break-through that global IPO market needs. Saudi Aramco was the last company to debut on the market with a valuation of over one trillion dollars in 2019. SpaceX has all the ingredients the IPO market?has been looking for to end a long-term drought of mega-deals. It is a company with a valuation over "trillion dollars", a CEO who enjoys cult like retail support, and exposure to a?high-growth?industry. Investors' appetite for an IPO of this magnitude is still uncertain. Analysts and experts say that the company's success is unique, so it could only have a...

Bloomberg News reported that Elon Musk’s SpaceX filed confidentially for its highly anticipated U.S. IPO, bringing the billionaire closer to having a publicly traded company within his empire. Here's a timeline of SpaceX’s journey towards its blockbuster IPO. Elon Musk founded SpaceX in March 2002 using the money he earned from the sale of PayPal. SpaceX launched its first rocket in March 2006, but it failed. September 2008 - Falcon 1 was launched successfully by SpaceX for the first launch and became the world's first liquid-fuel rocket. SpaceX signed its first major contract in December 2008 with NASA for the...

Elon Musk's SpaceX may be the answer to the global IPO market's long-term struggle. Saudi Aramco was the last company to have a IPO at a valuation of over one trillion dollars in 2019. SpaceX, with its "over-trillion-dollar valuation", CEO who has a cult following in retail and exposure to a fast-growing industry is what the IPO'market" has been looking for to end a long-term drought of mega-deals. Investors' appetite for such a large?listing? is still uncertain. Analysts and experts say that the company's success is unique, so it could only have a limited impact on the broader market sentiment....

Investors' sentiment was affected by the sagging of most Gulf stock markets in early Sunday trading, as concerns about a wider conflict linked to Iran weighed heavily on their minds. This came after Yemen’s Houthis launched the?first? attacks on Israel since the conflict started and the U.S. sent additional forces into the Middle East. The Washington Post reported Saturday that U.S. officials had said that the Pentagon was preparing for a possible multi-week?operation on the ground in Iran. However, it remained unclear whether President Donald Trump would authorize the deployment. The Qatari Index fell by 1.1% as Qatar National Bank,...

Saudi Aramco has cut 'crude oil supply' to Asian buyers in April for a second month,>>,>>,>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>?two sources?knowing the situation? said on Monday. This is after the U.S./Israeli war against Iran disrupted the trade via the Strait of Hormuz. Sources said that the producer will only supply 'Arab Light crude from the Red Sea port of Yanbu in April to customers on a term basis. This is to limit supplies to Asian refineries and to cap their output. Aramco couldn't be reached immediately for comment outside office hours. Kpler data shows that Saudi Arabia exported 4.355 millions barrels of crude per...

Japan will'start releasing oil from their stockpiles? on Monday in order to ease the shock of the?U.S. - Israeli?war against Iran. This is a stark reminder to the oil crisis that occurred half a century earlier, which prompted Tokyo to build reserves. Tokyo announced that it would release 80 million barrels of crude oil to Japan, which is enough to last the nation for 45 days. The war in the Gulf has disrupted supplies through the Strait of Hormuz. The Japanese government has instructed the country's refineries to use the crude oil released, which will reduce national reserves by 17%...

Four sources confirmed that oil loading operations at the United Arab Emirates Fujairah, a major 'bunkering hub' and crude export terminal, had re-commenced despite a Saturday drone attack and fire. However, it is unclear whether the operations are back to normal. The U.S. - Iran war has already reduced Middle Eastern oil supply by more than?7m barrels a day, or 7% of the global supply. The disruptions?at Fujairah could force OPEC’s third largest crude producer to cut more?production, after already cutting production at its offshore oil fields. According to Kpler, Fujairah outside the Strait of Hormuz exported on average?more? than...

Japan will begin releasing oil on Monday to ease the shock of?the U.S. and Israeli war on Iran. This is a stark reminder of the oil shortage that occurred half a century earlier, which prompted Tokyo's creation reserves. Tokyo announced that it would release 80 million barrels of crude oil to Japan, which is enough to last the nation for 45 days. The war in the Gulf has disrupted supplies through the Strait of Hormuz. The Japanese government has instructed refiners to use the crude oil released, which will reduce Japan's national reserves by 17 percent, to ensure domestic supplies....

Gulf officials said that three Gulf states were reviewing the way they invest trillions of dollars from their sovereign wealth funds to offset the losses caused by the U.S. and Israeli war against Iran. The official who spoke on condition of anonymity because the matter was sensitive and without naming the states, explained that these reviews could include reversing investment pledges, divesting and re-evaluating global sponsorship deals. The top four economies of the Gulf Cooperation Council are Saudi Arabia, Qatar and Kuwait. Three of the four largest economies in the GCC will be assessing current and future investments and sponsorships...

Oil prices dropped on Tuesday, after hitting a three-year high in the previous session. U.S. president Donald Trump predicted that the Middle East war could be over soon. This eased concerns about disruptions of global oil supply. Brent futures were down $4.17 or 4.2% to $94.79 per barrel at 0345 GMT. U.S. West Texas Intermediate crude (WTI), however, was down $3.81 or 4% to $90.96 per barrel. Both contracts had fallen as much as 11 % earlier, before reversing some of their losses. On Monday, oil prices soared to their highest level since mid-2022 as Saudi Arabia and others cut...

The majority of 'Gulf' stock markets were up in the early trade on Sunday. The Saudi index was up for a fifth consecutive session after the?Iranian?temporary governing council agreed to stop attacks on neighboring nations, unless they originated on their own territory. Saudi Arabia told Tehran it supports a diplomatic solution to Iran's conflict with the U.S. but that continued attacks against the kingdom and its energy sector may push Riyadh into a similar response, according to sources. Saudi Arabia's benchmark.TASI index rose 2%. All of its constituents posted?gains led by energy and material stocks. Brent oil prices surged on...

OPEC+'s decision to increase crude oil production by 206,000 barrels a day (bpd), starting in April, is likely?the most unimportant decision that the group has taken during its nearly decade-long existence. Addition of 0.2% to global oil demand in a month is nothing more than a symbol in light of the escalating conflict in the Middle East that is already causing serious disruptions in supply. There was not much the 'eight members' of OPEC+ who are voluntarily cutting production could have done if they had met on Sunday in order to reassure the market that the supply would be secure....

China's role in setting the floor and ceiling prices for crude oil is one of the less discussed dynamics of the global market. The world's biggest crude?importer is known to buy excess oil and build up inventories when the refiners or government consider prices to be low. They also pull back imports when they feel that prices are rising too quickly. Analysts and journalists covering the crude oil market are not aware of the changes in imports because they occur with a delay of several months. There are early signs, however, that China will shift its imports in favor of...

S-Oil, a South Korean oil company, announced on Monday that it had recorded a 91% increase in its fourth-quarter operating profits. It expects the first-quarter refinery margins to be robust due to the steady demand and disruptions of supply as well as a planned U.S. refining plant closure. According to market expectations, the refinery, which is owned 63% by Saudi Aramco reported an operating profit for the quarter of 424 billion won ($293 millions). The operating profit of its refining division increased by 55%, to 225.3 billion won. It said that the refining margin of gasoline from Dubai crude had...

Three people with knowledge of the matter claim that Saudi Arabia's?Midad Energy?is one of the top contenders for the international assets of Russian?oil giant?Lukoil, taking advantage deep political ties between Moscow and Washington. Sources have confirmed that the assets, which are valued at around $22 billion, include oilfields, refineries, and thousands of fuel station worldwide. About a dozen investors have made bids for these assets, including U.S. major oil companies Exxon Mobil, Chevron, and private equity firm Carlyle. Lukoil wants to sell off its foreign operations, which were crippled by the U.S. sanctions that were imposed on October to pressure...

A survey on Thursday found that OPEC oil production fell in November despite an OPEC+ deal to increase production in the month due to unavailability in some members. This brought the supply of the group even further below their target. According to the survey, the Organization of the Petroleum Exporting Countries (OPEC) pumped 28,40 million barrels of oil per day in October, a decrease of 30,000 barrels per days from the total for October. Nigeria and Iraq recorded the largest declines. OPEC+ - a grouping of OPEC, Russia and its allies - has slowed down the rate of monthly production...

India's oil exports to Russia are expected to reach their highest level for five months in November, according to preliminary data from Kpler, as refiners scrambled to secure barrels before a U.S. date to stop transactions with Russian oil producers sanctioned by the United States. India, which is the third largest oil importer in the world, was the biggest purchaser of discounted Russian crude shipped by sea after Russia's 2022 invasion of Ukraine. According to the Kremlin, Russian President Vladimir Putin will visit South Asia next month. His last visit was in December of 2021, just a few months after...

Sources at three Indian refiners reported on Tuesday that Saudi Arabia and Iraq, producers from the Middle East, have allotted full-term crude volumes for Indian refiners in December while also offering additional quantities under optional contracts. After halting their Russian oil purchases due to the tightening of Western sanctions, Indian suppliers have increased demand for Middle East crude. Last month, the United States, Britain and European Union designated Russian Top oil producers Rosneft, and Lukoil caused immediate disruptions in trade as fears of sanctions drove away buyers from India and China. Sources said that the Indian refiners received their full...

OPEC did not change its forecasts on Monday for the relatively high growth in global oil demand this year and the next. It also implied that the oil market would see a smaller deficit of supply by 2026, as the OPEC+ group continues to increase production. OPEC+ has added more crude oil to the market since the Organization of the Petroleum Exporting Countries (OPEC), Russia, and other allies have decided to undo some production cuts faster than originally planned. This extra supply has led to concerns of an oil surplus, and has weighed down on the price of crude this...

Saudi Arabian crude oil exports fell to their lowest level since four months in July, according data released by the Joint Organizations Data Initiative on Monday. The world's biggest oil exporter has seen its crude exports fall to 5,994 million barrels a day from 6,141 million bpd, the lowest level since March 20,25. Saudi Arabia's crude production for July fell to 9.201 million barrels per day (bpd) from the 9.752 in June. The data revealed that the crude throughput of Saudi refineries was 2.978 millions bpd. This is up 10% from June, when it was 2.703million bpd. Direct crude burning,...

Three sources with knowledge of the matter have confirmed that Saudi Aramco, the world's largest oil exporter, has asked Asian buyers for more crude oil in October. The kingdom had made price cuts deeper than expected on all grades due to a growing supply. Two sources claim that Saudi Aramco, in its bid to regain market share, spoke with Asian buyers at the APPEC Conference in Singapore this week, encouraging them to buy more crude oil in October. One of them stated that this has partially led to the delay of the October supply being allocated to their customers, possibly...

A survey released on Thursday found that OPEC oil production increased in August following an OPEC+ production agreement. This was primarily due to the United Arab Emirates' and Saudi Arabia's higher production. According to the survey, the Organization of the Petroleum Exporting Countries (OPEC) pumped 27,84 million barrels of oil per day in July, an increase of 360,000 barrels per days over the revised total for the month of July. The United Arab Emirates, and Saudi Arabia, were the countries that saw the biggest increases. OPEC+ - which includes OPEC, its allies, including Russia - is accelerating the plan to...

China's refiners increased their processing rates in the month of July. However, strong crude oil imports from abroad and domestic production meant that there was still an excess of over half a million barrels a day (bpd). Calculations based on data from the official sources show that crude oil surplus in July dropped to 530,000 barrels per day (bpd) from 1.42million bpd. The key is that despite the drop in oil surplus, refiners will likely continue to add to their stockpiles. This will allow them the ability to reduce imports if prices increase to levels they feel are not justified....