Uncertainty looms after dramatic changes in Saudi Energy Ministry

Saudi Arabia's new Energy Minister Prince Abdulaziz bin Salman center and United Arab Emirates Energy Minister Suhail al-Mazrouei right walk through an energy exhibition in Abu Dhabi United Arab Emirates Monday Sept. 9 2019

Prince Abdulaziz bin Salman, Saudi Arabia's new energy minister and a long-time member of the Saudi delegation to the Organization of the Petroleum Exporting Countries (OPEC), said the kingdom's policy would not change and a global deal to cut oil production by 1.2 million barrels per day would be maintained.

Saudi Arabia's new energy minister Prince Abdulaziz bin Salman has assured India that his country will remain a reliable supplier to the world's third-largest energy consumer and is committed to investing in the country.

But the IPO has failed to meet its 2018 deadline due to prevailing low oil prices that has also pushed investors to debate whether Aramco is really worth that much.

But in the past efforts to lift prices have routinely backfired in the medium term (18-36 months) by encouraging competing supplies and limiting consumption through greater fuel efficiency, conservation and substitution.

Aramco is "ready" for the IPO but the timing is a "government decision", Amin Nasser told reporters on the sidelines of the World Energy Congress in Abu Dhabi. In 2017, he was appointed minister of state for energy affairs. US crude inventories probably dropped for a fourth week through September 6, according to a Bloomberg survey before government data Wednesday.

Saudi Arabia wants to enrich uranium in the future to fuel its planned nuclear power programme, its energy minister said on Monday, a sensitive step that could complicate U.S. companies' involvement in the plan.

More talk of shale pullbacks and fiscal discipline should lower USA shale production expectations. While the move could have caused anxiety in trading circles, pressuring prices, assurances that Abdulaziz bin Salman would stay on the current course with regard to production seemed to have appeased the market.

Pixel 4's Features Revealed In Latest Leaks
Of note, the iPhone 11 will have been selling in stores for almost a month by the time Pixel 4 is available to buyers. You can also see from these photos that the Pixel 4 XL no longer has a notch, but a bezel like the standard Pixel 3 .

In April the head of the IAEA said his agency was asking Saudi Arabia to agree to safeguards on nuclear material that could arrive by the end of the year for its first atomic reactor.

In order for U.S. companies to compete for Saudi Arabia's project, Riyadh would normally need to sign an accord on the peaceful use of nuclear technology with Washington, under the United States Atomic Energy Act.

USA shale production has probably peaked for the time being and is set to fall in the second half of 2019 and into the first half of 2020.

"Chopping output will profit all members of OPEC". Saudi Arabia wants higher prices, but realizes the U.S. Late on Saturday night, Al-Falih was removed and replaced as energy minister by Prince Abdulaziz bin Salman.

But the style of Saudi Arabia's oil-market management is likely to be different.

Aramco's planned share sale should not change the calculation for policymakers: the best option is to allow lower oil prices to curb shale production and help rebalance the oil market in 2020.

For India, the changes are even more keenly watched as the country gets more than 80 per cent of its oil imports from the Organisation of Petroleum Exporting Countries (OPEC) headed by Saudi Arabia, which is also the country's second biggest supplier of crude.

Related News:

  • Boris Johnson ‘considering building a bridge that links Scotland and Northern Ireland’

    Boris Johnson ‘considering building a bridge that links Scotland and Northern Ireland’

    Government spokesman told Channel 4 News: "Government regularly commissions work to examine the feasibility of projects". Scottish First Minister Nicola Sturgeon also refused to rule out the idea when pressed on the matter earlier this year.
    Zimbabweans in SA fear fresh attacks

    Zimbabweans in SA fear fresh attacks

    At least eight of those killed have been confirmed to be South Africans and four others are believed to be foreign nationals. Logistics for the evacuation will be provided by Air Peace , a Nigerian airline which has offered to airlift Nigerians .
    LG 2019 OLED TVs receiving NVIDIA G-Sync support soon

    LG 2019 OLED TVs receiving NVIDIA G-Sync support soon

    The new firmware update will be compatible with LG 2019 OLED TVs including both the E9 and C9 series TVs in 55, 65, and 77 inches. Along with these, the LG OLED TVs support cinematic audio formats such as Dolby Atmos and Dolby TrueHD lossless sound technology.
  • Florida could see Tropical Storm Humberto later this week

    Florida could see Tropical Storm Humberto later this week

    Currently, however, four tropical systems are being closely monitored including Tropical Storm Gabrielle in the North Atlantic. Environmental conditions could become more favorable for development when the system moves into the Gulf of Mexico .
    S. African president denounces latest public violence

    S. African president denounces latest public violence

    Nigerian artists Tiwa Savage and Burna Boy have publicly condemned the attacks, as well as the South African government. Pretoria closed its missions in the oil-rich African giant after it said it received threats.
    Medvedev contains demons to beat Dimitrov and reach US Open final

    Medvedev contains demons to beat Dimitrov and reach US Open final

    Nadal made light work of the big-serving South African, though, and faces another player who profited from an open draw on Sunday. But despite his inexperience at this level, the player Nadal will face in NY is a different Medvedev than the one in Montreal .
  • First evidence of water found in atmosphere of planet K2-18b

    First evidence of water found in atmosphere of planet K2-18b

    All five planets appear to have a high-altitude haze that weakens water's signal from deeper within their atmospheres. Professor Giovanna Tinetti said: 'Our discovery makes K2-18b one of the most interesting targets for future study'.
    Boris Johnson 'deceived Queen and should resign'

    Boris Johnson 'deceived Queen and should resign'

    Opponents said the real reason was to shut down debate and challenges to his Brexit plans. "I call on him to recall Parliament". Langfitt adds, "The ruling is yet another blow to Johnson, who has lost every vote he's called in Parliament.
    New iPhone met with myriad memes over freakish , three-eyed design

    New iPhone met with myriad memes over freakish , three-eyed design

    The better chipset allows the iPhone 11 to process apps faster by 30 percent and improve battery use efficiency by 40 percent. A $50 price cut for the entry-level iPhone suggests that Apple wants to get more people at the bottom end to buy iPhones.
  • Justin Trudeau fires starting gun for Canada's general election

    Justin Trudeau fires starting gun for Canada's general election

    Polls suggest the Liberals and Conservatives are running neck-and-neck, while the NDP and Greens are fighting for third. The purchase of the pipeline brought with it wide criticism from environmental groups and Indigenous communities alike.
    NJ man arrested for doing donuts on Trump's Bedminster golf course

    NJ man arrested for doing donuts on Trump's Bedminster golf course

    McEwan was allegedly caught inside the 11,744-square-foot home after he triggered a motion sensor alarm that alerted police. He posted $5,000 bond for the charges of breaking and entering a home without the owner's consent and willful trespassing.
    Prince Harry Answers His Critics: Defends Private Jet Travel

    Prince Harry Answers His Critics: Defends Private Jet Travel

    Prince Harry's wife hired the firm to help with the September edition of Vogue magazine that she guest edited, The Sun reported. Hopkins went on to slam Meghan and accused the former actress of being unknown before she met Prince Harry .


Most liked

The damning reality of Serena Williams' failed record quest
I wish I could have played better, but if anyone could win this tournament - outside of Venus - I'm happy it's Bianca". She has now lost more grand slam finals over the last three years than she did over a 17-year period prior to 2016.

What does Bolton's exit mean for United States policy on Israel and Iran?
But it has also been cold to recent Trump administration overtures, saying it will not enter talks while under USA sanctions. That effort wasn't an explicit condition of U.S. policy until Bolton took the helm of the National Security Council.

Robert Mugabe's body arrives in Zimbabwe
But we should weigh the good deeds he takes to his grave versus the few undesirable things that are attributed to him. Crowds had gathered at the airport well before the scheduled arrival time, with some wearing T-shirts bearing Mr.

Corbyn commits to second Brexit vote if Labour Party wins general election
He furthermore slammed "interfering" judges for ruling Boris Johnson's suspension of Parliament to be illegal. Mr Corbyn has said Labour must offer voters both Leave and Remain options.

Centre to bring ordinance to ban e-cigarettes in country
The Australian National Drug Strategy Household Survey reported that 6.4 per cent of young smokers aged 18-24 used e-cigarettes. San Francisco, the home of market leader Juul Labs, became the first American city to ban e-cigarettes in June past year .

Galaxy A50s passes SIRIM, may come with Samsung Pay
The Galaxy A50s will be available in 3 vibrant color variants namely Prism Crush Black, Prism Crush Violet, and Prism Crush White. There's also a 4,000mAh battery on board and it's the same capacity as its predecessor, with support for 15W fast-charging.

Google Pixel 4 leak: astrophotography mode is coming!
KitGuru Says: Last year's Pixel 3 ended up launching at around the £750 mark, so we may see similar pricing again this year. Join our Pixel 4 forums to stay up-to-date on the latest news regarding Google's upcoming late 2019 devices.

Google Play Pass Subscription Service to Launch Soon, Google Confirms
However, for the users to pay for a premium version of either the app or the game individually seemed like an expensive feat. Apple's App Store is already a major distribution platform for games, offering some 300,000 free and paid games.

Ashes captains on Joe Root's role and the fifth and final Test
He donned glasses and was spotted shadow-batting left-handed, a jibe the locals felt was aimed at England tailender Jack Leach . Speaking to media on the eve of the fifth Test, Australian skipper Tim Paine said he felt for his vice-captain.

Final Fantasy Crystal Chronicles Remastered finally receives a release date
Tokyo Game Show kicks off this Thursday but already companies are dropping trailers for some highly-anticipated, upcoming games. The online function allows players to connect four different devices to carry the crystal chalice throughout the land.

Zimbabwe Sets Date for Mugabe's Burial
Mugabe's body was expected to arrive in Zimbabwe on Wednesday at 3 p.m. (1300 GMT), Leo Mugabe told Reuters. In one of the rooms, village elders and clan chiefs were deciding where the statesman should be buried.

Maharashtra Police 'offended' by The Sky Is Pink trailer, Priyanka-Farhan react
Her parents watched the film when it released four months later and saw that the filmmaker had dedicated it to her son Ishaan. The Sky Is Pink marks Priyanka's comeback to Bollywood after a hiatus of nearly three years.

The iPhone 11 gets a much-needed new feature
A "must-have" Apple Pencil integrated to work with the iPad touch screen can be used as a controller for creation or productivity. Starts at $999 for the 11 Pro, $1099 for the 11 Pro Max, and you can pre-order on Friday and have it available on September 20th.

Apple TV's Cost And 'The Morning Show' Premiere Date Are Finally Here
November 2019 is shaping up to be quite the happening month, with not one, but two digital streaming services due to launch . Written by Knight and directed by Lawrence, See takes place in the distant future, after a deadly virus decimated humankind.

Corbyn warns Prime Minister: General election is coming
In yet another day of drama in Westminster, House of Commons speaker John Bercow announced he would be stepping down by October 31 at the latest.