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Saudi Aramco plans to ramp up its oil production capacity by 550,000 b/d by 2025 as it forges ahead with plans to boost its maximum sustainable capacity to 13 million b/d in the coming years. “The Marjan and Berri crude oil increment programs are in the final stages of detailed engineering, and construction activities continue ...
Updated 43 min 21 sec ago Arab News July 02, 2021 01:21 RIYADH: Siemens Energy is to supply power to 30,000 homes as part of the first community being built by developer Roshn in Riyadh. Mahmoud Sulaimani, managing director of Siemens Energy in Saudi Arabia, said: “This contract will enable Siemens Energy to create more jobs for Saudi talents and will provide homes to meet the needs of Saudi families. “One of our main values as Siemens Energy is to care for the communities where we live and so it is an honor for us to be able to contribute to such a great project.” The energy company w...
Major Gulf stock markets ended higher on Wednesday, with Saudi Arabia extending gains into a seventh session amid rising oil prices, while financials dragged down the Egyptian index.
Middle Eastern stock markets closed mixed on Monday, with indexes in the United Arab Emirates and Saudi Arabia logging monthly gains amid rising oil prices and improving business activity in their non-oil sectors.
Most major stock markets in the Gulf rose in early trade on Wednesday, supported by gains in their financial stocks, although Abu Dhabi bucked the trend to trade lower.