Aramco participates in King Salman's Russia visit, explores bilateral energy investments
07 October, 2017, 00:45 | Author: Kristen Ingram
Cooperation between Saudi Arabia and Russian Federation has "breathed life back into OPEC" and made the country more optimistic about the outlook for oil than it has been for several years, said the kingdom's energy minister.
We had a certain reduction in trade between both nations, but I think that it was partly due to subjective reasons, Putin said.
"We are well aware that the development of cooperation between Russian Federation and Saudi Arabia serves not only our common interests but also stability in the region because Saudi Arabia is one of the most influential countries in the Middle East and the whole world", she stated. "Today we alone as the Russian Direct Investment Fund announced deals worth United States dollars 2.1 billion", said Kirill Dmitriyev, the head of the fund set up to attract investment.
Oil prices rose more than 2 percent on Thursday as signs Saudi Arabia and Russian Federation would limit production through next year outweighed record US exports and the return of production at a major Libyan oilfield. In coming period, cooperation between two countries is expected to strengn in field of defence industry.
Russian Foreign Minister Sergei Lavrov said the two leaders had a "friendly and substantial discussion based on a desire by Moscow and Riyadh to consistently grow mutually beneficial partnerships in all spheres".
Analysts say Salman's trip to Moscow is the clearest sign yet that Russia's strategy in the Middle East, including its high-risk show of military power in Syria, has paid off. Saudi Arabia had previously been opposed to the plan because it involves Iran.
Salman will meet President Vladimir Putin on Thursday and they are expected to discuss extending oil production cuts ahead of the OPEC oil cartel meeting in November.
King Salman has become the first sitting Saudi monarch to visit Russian Federation.
"Yes, we had a couple of phone conversations on various issues of mutual interest, including Syria", Putin said.
Salman also told Putin he hoped to see "a Palestinian state with East Jerusalem as its capital" established in the future, as a solution to the Israeli-Palestinian conflict.
Almost a year into the production-cut deal that brought together major OPEC and non-OPEC oil producers, Oil Minister Bijan Namdar Zanganeh said there was no pressure on Iran to join the cuts.
The Russian Direct Investment Fund (RDIF) will also sign an MoU with Aramco and Saudi's Public Investment Fund (PIF) for investments in energy services and manufacturing, one of the sources said.
And if we don't want our own neighbors to be next, it's high time we set aside our differences and started to solve the problem'. Reach out the Orlando United assistance Center by calling 407-500-HOPE.
UK GDP growth was just 0.3 per cent in the second quarter of 2017, according to the Office for National Statistics. Sales are forecast to grow 0.3 percent on month in August, in contrast to a 0.3 percent fall in July.
Saudi Arabia will allocate Russia $1 bln for joint energy projects, Russian Minister of Energy Alexander Novak said. In recent years a number of women activists were detained for getting behind the wheel in Saudi Arabia.
How did Stephen Paddock "lone wolf" pull off Las Vegas mass shooting? Geary and Marilou were married in Las Vegas in 1990. At this time, it is unknown whether the money was intended for Danley , her family, or for another objective .
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The politics of the sequel are both more obvious and less interesting, and the political parallels feel a little half-baked. But even more so, the original didn't exactly end with a concrete point to spawn a sequel or series.
It can even call your friends for free (in the U.S. and Canada , the feature is coming to the United Kingdom later this year). We will keep you informed on when these features and updates will roll out! It's Google's turn to announce some new hardware.
At this time, it is unknown whether the money was intended for Danley, her family, or for another objective . There were also reports that Danley was on vacation in Japan when the Las Vegas shooting happened.
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