'OIL DEMAND STAYS STRONG' Aramco plans more borrowing to fund growth: CEO
Saudi Aramco is targeting more borrowing to finance growth and better leverage its balance sheet, Chief Executive Officer Amin Nasser said, as the world's biggest oil exporter raised $5 billion in bonds this week.
more…
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Trade Arabia
11 hours ago
- Trade Arabia
Gulf Air unveils exclusive Amenity Kit to mark 75th anniversary
Gulf Air, the national carrier of the Kingdom of Bahrain, announces the launch of its new amenity kit in celebration of the airline's 75th anniversary. This exclusive kit is part of Gulf Air's ongoing efforts to enhance onboard products and elevate passenger experience, said the flag-carrier in a statement. Developed in collaboration with GAIA, a renowned Bahraini brand, the amenity kit reflects Gulf Air's commitment to delivering premium products that embody thoughtful design, functionality, and sustainability. The GAIA-branded bag is crafted from recycled materials, offering a contemporary and elegant look that resonates with the airline's identity and sustainability efforts. The contents of the kit have been carefully curated to meet the expectations of discerning travellers and will be offered to Falcon Gold passengers with meaningful content. It includes individually packaged travel essential items coupled with skincare products from the Rituals of Jing collection. All materials used in the kit are ethically sourced, incorporating sustainable elements like wheat straw packaging to reflect Gulf Air's dedication to environmental responsibility, said the statement.
Trade Arabia
13 hours ago
- Trade Arabia
Bahrain Airport Services honours over 160 top employees
Bahrain Airport Services recently celebrated the dedication and long-standing commitment of over 160 of its staff members at the Annual Employee Long Service Award Ceremony held in the kingdom. The event, held at the Mövenpick Hotel Bahrain, was organised to honour employees who had completed 10 to 35 years of service at the organization, demonstrating exceptional loyalty and professionalism in their work, said a statement from BAS. It was attended by BAS Chief Executive Officer, Eng. Mohamed Khalil Ahmed, along with members of its trade union. This annual initiative reflects BAS's continued commitment to cultivating a culture of recognition, gratitude, and long-term employee engagement, while celebrating the strong relationships built across decades of service, it stated. Speaking on the occasion, Khalil Ahmed said: "We are proud to recognise our long-serving team members whose dedication has been instrumental to the company's progress and achievements." "Their steadfast loyalty and contributions reflect the core values that define BAS," he stated. Lauding the employees for their exceptional service, Khalil Ahmed said: "BAS remains committed to empowering its people through ongoing development and engagement programmes, recognising that a motivated and capable workforce is an essential driver of innovation, operational excellence, and sustainable success."
Gulf Insider
a day ago
- Gulf Insider
Refiners Expect Saudi Arabia to Cut Oil Price
Saudi Arabia may cut its official selling price for crude oil by as much as $0.40-$0.50 per barrel for Asian buyers, Reuters has reported, citing sources from the refining industry. The expected price cut concerns the flagship Arab Light grade that Saudi Arabia sells abroad, but other grades are also expected to see cuts, albeit smaller ones, at between $0.30 and $0.45 per barrel, according to the sources. The reason for these expectations is the decision by OPEC+ to keep returning supply to the market. OPEC+ is meeting later today and most observers appear to have assumed it will announce yet another monthly hike of 411,000 barrels daily for July. It is this expected hike that, according to the Reuters refining sources, will drive lower prices for Saudi oil. Indeed, earlier this year, Saudi Aramco cut its official selling price for crude amid OPEC's production ramp-up, with Arab Light seeing a $0.40 price cut per barrel for March. Another grade, Arab Extra Light, saw a price cut of $0.60 per barrel at the time. However, this month, the Saudis actually raised their official selling prices for Asian oil buyers. n a sign that the world's top crude oil exporter expects solid demand in Asia next month, the Saudis lifted the price of the Arab Light crude grade for June by $0.20 per barrel over May prices to a premium of $1.40 a barrel over the Oman/Dubai average, the benchmark off which Middle Eastern producers price their crude loading for Asia. In this context, then, it is difficult to say with any degree of certainty what Saudi Arabia would do with its official selling prices, although a cut would make more sense as it seeks to regain market share lost because of the production curbs that OPEC+ agreed to adopt back in 2022. Also read: Saudi Arabia: Private Sector Workers To Get 4-Day Eid Al Adha Holiday
