1593 results found. Displaying results 1581 to 1590.

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Saudi Arabia - Issue 13 - 03/Dec/1979

A nasty smell of scandal in Rome sours relations with Riyadh

Italy's ENI is the subject of scandalous rumours surrounding a highly advantageous direct oil supply agreement made in the summer with Saudi Arabia. For local political reasons, the issue has become a cause celebre in Italy, but if any more revelations come out the Saudis are quite liable to rethink their policy of selling oil directly to a government which cannot avoid scandal.

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Saudi Arabia - Issue 12 - 19/Nov/1979

Poles apart, two regimes find a common interest

South Yemeni President Abdul Fattah Ismail is due to visit Saudi Arabia shortly, marking an upturn in relations between two countries with diametrically opposed political sympathies. In the present conjuncture of Gulf rivalries, it makes considerable sense for Riyadh to make friendly noises to Aden even though Ismail has signed a 20-year friendship and cooperation treaty with the Soviet Union.

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Saudi Arabia - Issue 11 - 05/Nov/1979

Pricing contracts in dollars is one way to protect the riyal

The recent IMF internal report on Saudi Arabia suggested that a clampdown on offshore trading in the riyal was imminent, as the Ministry of Finance became more worried about speculation in the currency. The move to price larger contracts in dollars should prove a more effective way of regaining control than irksome legislation or applying informal pressure on offenders.

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Saudi Arabia - Issue 10 - 22/Oct/1979

Shell unwilling to move on $2bn ethylene plant

New doubts have arisen about the scale and future of Saudi Arabia's ambitious petrochemical plans. Shell Oil of the United States has indicated that talks on its joint venture with the Saudis for an ethylene complex at Jubail have stalled. Issues which have to be settled before an agreement is reached include oil entitlements, gas prices, marketing and progress on a parallel oil-export refinery scheme.

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Saudi Arabia - Issue 09 - 08/Oct/1979

An extra million b/d now is a declaration of intent to OPEC

OPEC's price hawks are on the wing and the spot market is bullish. Saudi Arabia is trying desperately to hold the ring and dampen price pressure by maintaining its higher production ceiling for another quarter. But if the market continues to run against it, then Saudi strategy is paving the way for a very angry OPEC conference in December - and perhaps another OPEC split.

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Saudi Arabia - Issue 08 - 24/Sep/1979

Brazil makes its play as the Saudis worry about Washington

Saudi interest in diversifying sources of arms supplies is reviving as Riyadh's refusal to back the Egyptian peace treaty raises antagonism in the US Congress. Waiting in the wings to make a major penetration of the Gulf arms market is one of the Third World's largest producers, Brazil. The Brazilians are prepared to go for barter deals, and their machinery is more adaptable to Middle East conditions.

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Saudi Arabia - Issue 07 - 10/Sep/1979

US Congress tackles the oil companies foreign tax credits

The concerted campaign against oil companies in the United States has led to congressional reappraisal of the foreign tax credits they receive. Cutbacks in these credits would however reduce Aramco's expansion budget in the Kingdom, as well as appear to the Saudis like further criticism of the level of revenue they justifiably expect from their vital depletable resource.

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Saudi Arabia - Issue 06 - 27/Aug/1979

Standing by to defend the dollar and piees

The performance of the dollar is worrying OPEC again. The chances are that Saudi Arabia will manage to forestall any action, but the fight to do so will be tougher than it has been in the past.

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Saudi Arabia - Issue 05 - 13/Aug/1979

Washington ponders Arab funds despite Saudi good conduct

An inconclusive three-day subcommittee hearing in the House of Representatives into the question of OPEC investment in the United States has perceptibly angered the Saudis. Even Congress' General Accounting Office (GAO) admitted that OPEC funds posed no real threat to the American economy or banks, although it questioned the fact that these countries' holdings are not individually disclosed.

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Saudi Arabia - Issue 04 - 30/Jul/1979

France in the arms market with tanks and training

As president Giscard d'Estaing stopped off in Abu Dhabi this month on his way to the Pacific, Defence Minister Yvon Bourges was eagerly negotiating a new round of French arms contracts with the Saudis. The French have in mind an integrated deal to equip, organize and train three armoured brigades. The purpose behind the bid to sell arms to Saudi Arabia is to cover their oil import bill.

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African Energy Gulf States Newsletter