Saudi Arabia to invest more than 25 Russian projects

Saudi Arabia to invest more than 25 Russian projects

"We have zero personal relationship", Putin said Wednesday at the Russian Energy Week conference in Moscow, according to Bloomberg Politics.

Mr Putin described the talks in Moscow as "substantive and meaningful".

He said that the visit of King Salman will give a great impetus to the common relations.

Oil giant Saudi Aramco will open an Indian subsidiary next week, three sources said, as the top global oil exporter looks to tap rising demand and invest in the world's third-biggest consumer.

The King of Saudi Arabia, Salman bin Abdul Aziz Al Saud, arrived in Moscow on September 4.

King Salman reviews an honour guard.

Yet, pre-contract negotiations on the subject may commence should all necessary agreements are reached during King Salman's meeting with President Putin.

"This partnership between Russian Federation and Saudi Arabia has catalyzed cooperation of an unprecedented coalition of 24 countries (OPEC and non-OPEC)".

NEW YORK, Oct 5 (Reuters) - Oil prices rose more than 2 percent on Thursday as signs Saudi Arabia and Russian Federation would limit production through next year outweighed record USA exports and the return of production at a major Libyan oilfield.

King Salman's four-day trip to Russian Federation is the first time a Saudi monarch has paid an official visit to Moscow following decades of frosty relations.

The two countries also agreed on the production in Saudi Arabia of the Kalashnikov automatic rifle and its ammunition as well as educational and training programmes for Saudi nationals.

In addition, Saudi Arabia is trying to build a closer relationship with President Trump and his administration, while the US has sanctioned Russian Federation over its involvement in the Ukraine crisis.

The leaders held one-on-one talks, followed by broader discussions.

Analysts say King Salman and President Putin would try to put those differences behind them.

Russian President Vladimir Putin said on Wednesday that he has not decided on whether he would run for presidency again in 2018.

Iran and Saudi Arabia have supported opposing sides in ongoing conflicts in Syria and Yemen.

A Saudi-Russian business forum is also taking place during the King's visit.

For Russia, "price gains are more valuable than volume gains - how much can you really pump more from last year's peak production level?" he said.

The pact between the Organization of the Petroleum Exporting Countries, Russia and other producers on cutting output by about 1.8 million barrels per day (bpd) is now due to expire in March.

The two leaders discussed a wide range of issues including the potential extension of the OPEC+ oil production cut agreement, the Syrian crisis, security issues, defense collaboration and cooperation in the exploration and use of outer space for peaceful purposes.

Related:

  • After climate crackdown, TransCanada scraps major tar sands pipeline

    After climate crackdown, TransCanada scraps major tar sands pipeline

    When it was announced in 2013, Energy East was hailed as a nation-building project that would unlock Canadian exports and boost economic growth along its route.
    Amazon trialing new delivery system that makes FedEx and UPS obsolete

    Amazon trialing new delivery system that makes FedEx and UPS obsolete

    The first is they can entice even more Prime sign-ups by offering free two-day delivery on a greater range of third-party sales. Amazon has invested heavily in its logistics network over the years and taken on losses to build it out.
    Tesla, Inc. (TSLA) Insider MCNEILL JON sold 553 Shares Of Stock

    Tesla, Inc. (TSLA) Insider MCNEILL JON sold 553 Shares Of Stock

    The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link . Finally, BidaskClub downgraded Tesla from a strong-buy rating to a buy rating in a research note on Tuesday, June 20th.
  • No evidence Las Vegas shooter tied to militant group

    No evidence Las Vegas shooter tied to militant group

    Attackers inspired by ISIS have previously sent videos pledging allegiance to leader Abu Bakr al-Baghdadi before their assaults. The terrorist group published at least one English video on October 3 about the Las Vegas attack.
    Bachelor party in Kiev — unforgettable impressions are guaranteed

    Bachelor party in Kiev — unforgettable impressions are guaranteed

    Spectacular dancers will complement the spectacular dance of any composition, leaving an unforgettable impression in your memory. A special chic to the club is given by colorful and incendiary performances, over which a professional choreographer works.
    Weekend that could determine the destination of the Premier League title

    Weekend that could determine the destination of the Premier League title

    Many neutrals are hoping to see a fitting ending to what has been a fairytale story that may even be turned into a box office film, such has been the feat of their achievements.
  • Clues few and elusive for motive of Las Vegas gunman

    Clues few and elusive for motive of Las Vegas gunman

    The girlfriend of Las Vegas shooter Stephen Paddock , 64, has returned to the United States after traveling overseas . She then moved to the United States and was married to American Geary Danley, whom she divorced in 2015.
    True Love Exists!

    True Love Exists!

    Moreover, for the first time, Ivy and David even did not see each other, due to the fact that their communication was online. It should be noticed that these two people began relations just as friends, as they lived in different countries.
    From the Real to the Digital: Things We Used to Do in Real life That Now Thrive Online

    From the Real to the Digital: Things We Used to Do in Real life That Now Thrive Online

    Our top tip: For real money gaming, you can check bgo or you can test out some of the free play options available on Facebook. With this in mind, we've compiled a list of things we used to do in real life that we now do (more impressively) online.
  • Google Assistant will now support Spotify

    Google Assistant will now support Spotify

    By offering a newer voice option, there will be better diversity of different kind of voices for users' preferences. For those who are just starting to use the voice assistant , it would be a little tricky to find out how it works.
    WATCH as Russian Air Power Annihilates al-Nusra Commanders

    WATCH as Russian Air Power Annihilates al-Nusra Commanders

    More than 330,000 people have been killed in Syria since the conflict began in March 2011 with anti-government protests. Jabhat al-Nusra, or Al-Nusra Front, was the name of a militant group that was described as Al-Qaeda's branch in Syria .
    Global Resource Coin

    Global Resource Coin

    In addition, from the year 2018 GRC’s cryptocurrency rate is expected to grow due to its social usefulness and relevance. In order to do this, you need to have a considerable amount of money, a special financial education and a special license.

Comments

Other news