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Saudi $7 trillion investment goal puts spotlight on oil prices | Hellenic Shipping News Worldwide


Saudi $7 trillion investment goal puts spotlight on oil prices
In order to wean Saudi Arabia off its dependency on crude the kingdom needs higher oil prices.
A multi-trillion dollar spending push designed to diversify the economy’s sources of income will require state companies to cut the dividends they pay the government to boost capital spending, Crown Prince Mohammed bin Salman has said.
It is not clear how much companies like oil group Saudi Aramco – whose $75 billion dividends last year were vital to support state revenues – would cut their dividends, but any reduction would likely need to be compensated by higher oil prices, analysts say. ....

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Analysis: Saudi $7 trillion investment goal puts spotlight on oil prices


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DUBAI (Reuters) - In order to wean Saudi Arabia off its dependency on crude the kingdom needs higher oil prices.
FILE PHOTO: Flames are seen at the production facility of Saudi Aramco s Shaybah oilfield in the Empty Quarter, Saudi Arabia May 22, 2018. REUTERS/Ahmed Jadallah/File Photo
A multi-trillion dollar spending push designed to diversify the economy’s sources of income will require state companies to cut the dividends they pay the government to boost capital spending, Crown Prince Mohammed bin Salman has said.
It is not clear how much companies like oil group Saudi Aramco - whose $75 billion dividends last year were vital to support state revenues - would cut their dividends, but any reduction would likely need to be compensated by higher oil prices, analysts say. ....

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Saudi Arabia's $7 trillion investment goal puts spotlight on oil prices


Saudi Arabia s $7 trillion investment goal puts spotlight on oil prices
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Last Updated: Apr 08, 2021, 05:55 PM IST
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Synopsis
A multi-trillion dollar spending push designed to diversify the economy s sources of income will require state companies to cut the dividends they pay the government to boost capital spending, Crown Prince Mohammed bin Salman has said.
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In order to wean Saudi Arabia off its dependency on crude the kingdom needs higher oil prices.
A multi-trillion dollar spending push designed to diversify the economy s sources of income will require state companies to cut the dividends they pay the government to boost capital spending, Crown Prince Mohammed bin Salman has said. ....

Saudi Arabia , Krisjanis Krustins , America Saliba , Ravi Bhatia , Monica Malik , Jean Michel Saliba , Saudi Aramco , Abu Dhabi Commercial Bank , Public Investment Fund , Crown Prince Mohammed , Michel Saliba , Abu Dhabi Commercial , Prince Mohammed , சவுதி அரேபியா , ரவி பாட்டியா , மோனிகா மாலிக் , ஜீன் மைக்கேல் சாலிபா , சவுதி அரம்கோ , பொது முதலீடு நிதி , கிரீடம் ப்ரிந்ஸ் முகமது , ப்ரிந்ஸ் முகமது ,