Saudi Aramco is expected to complete the expansion of an oil pipeline that runs east-west across the country in September, lowering the Kingdom’s reliance on the Hormuz Strait. With a previous capacity of 5 million barrels the expansion will allow for an extra two million barrels a day to cross the Kingdom, bypassing Hormuz. In…
Read more »
Lockheed Martin has been awarded a $1.48 billion contract modification to supply THAAD interceptor support items to the Kingdom of Saudi Arabia. Originally reported in 2017, the arms sale included 44 THAAD launchers, missiles and related equipment. The U.S. House of Representatives backed resolutions on Wednesday to block the sale of precision-guided munitions to KSA…
Read more »
“Opportunity Arabia – Oil and Beyond” is returning once again as the must attend event of the annual UK-Saudi bilateral events calendar. The conference will take place from 12:00-18:00 on the 30th October at The Grocers’ Hall on Princes Street in London. Bringing together relevant government and business leaders, the event aims to promote trade,…
Read more »
Saudi food and beverage giant Almarai has seen a 12% drop in Q2 profits reportedly due to high expenses and financing costs. This development also coincides with the removal of government subsidies and may have been affected by the implementation of VAT. OPEC+ has agreed to extend oil production cuts until the end of Q1…
Read more »
Saudi Aramco recently held talks with a select group of investment banks to discuss potential roles during a restart of preparations for an IPO of Saudi Aramco after it was shelved last year. Princess Reema Bint Bandar has assumed her post as the Saudi ambassador to the US, the first woman in the Kingdom’s history…
Read more »
During the G20 Summit in Osaka, Japan, Crown Prince Mohammed bin Salman last week agreed a deal with Russia’s President Putin to extend the OPEC oil output cut by a further six to nine months. Oil prices jumped by more than 2% in response. In other news, the first commercial flight has departed from the…
Read more »
The long-anticipated acquisition of AEC by the Public Investment Fund has now completed and was marked by a signing ceremony in London. It appears that 100% of the shares have been acquired by the PIF from BAE Systems and their partners, who have owned AEC for over a decade. This is the first major acquisition…
Read more »
The holy month of Ramadan normally sees a slow-down in the Kingdom as dawn to dusk fasting takes place. In 2019 however, this has not been the case for AEI! The company has been working harder than ever and growing day by day, with the opening months of this year bringing some of our most…
Read more »
The IBG Global is an association of market entry consulting firms from across the globe with each company representing their geographical location from offices in a total of 53 countries. AEI Saudi is delighted to announce that we have joined the association and we look forward to working with the group to support international enquiries…
Read more »
The Doing Business in Saudi Arabia Guide has been produced by the Institute of Export in partnership with AEI to provide you with a manual of the best practices to tackle the Saudi market. For more information and a link to the online guide itself please see below. The ‘Doing Business in Saudi Arabia Guide’…
Read more »