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Saudi Arabia, others in OPEC willing, able to replace Libyan oil
Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Thu February 24, 2011 2:54 pm

SAUDI ARABIA. Saudi Arabia and other OPEC nations including those in West Africa are willing and able to replace any lost Libyan oil, including crude of the same quality, a Saudi Arabian oil official told Bloomberg by telephone today.

Brent North Sea crude, which is more sensitive to Middle East unrest because of Europe's greater dependence on oil from the region, climbed US$1.41 cents to US$112.66 per barrel, its highest since August 2008.

New York's main contract, light sweet crude, gained 93 cents to reach US$98.93 after breaching the US$100 mark late Wednesday.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: May 4, 2016
INTERNATIONAL. The climate has rarely been so favourable to a resolution of the conflict. The chaos that is sweeping the Middle East has been a game-changer in relation to Israel and the Arab countries.
date:Posted: May 4, 2016
SAUDI ARABIA. The manager/directors of any company that is incorporated in Saudi Arabia should start to consider what changes may need to be made to the company's articles of association or bylaws.
date:Posted: May 3, 2016
INTERNATIONAL. Emerging and startup digital banking platform technologies key to success of digital initiatives; incumbent application vendors have been slow to respond to new requirements.
SAUDI ARABIA. The manager/directors of any company that is incorporated in Saudi Arabia should start to consider what changes may need to be made to the company's articles of association or bylaws.
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