Saudi Arabia cut prices for crude sold to Asia in four of the past five months, part of its strategy in a fight for market share against non-OPEC producers.
One of the plants at the facility had been destroyed, while another had its structure partially damaged.
Saudi Arabia’s bourse took the biggest hit, dropping 4.8 per cent to 8,625 points, its lowest close since early January.
Sipchem’s proposed dividend is in line with what it paid in the corresponding period of 2013.
The builder announced the proposed rights issue last Tuesday, saying it will use the money to expand its business.
Al Naimi did not specify if the Gulf countries were in favour of a output cut ahead of a key OPEC meeting on November 27.
The complex had been scheduled to be completed in late 2016, but industry sources said that it faced delays of six to 12 months because work on associated infrastructure was behind schedule.
Oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) meet on Thursday in Vienna.
Saudi has kept the market guessing about its response to crude’s fall amid rapidly rising U.S. shale output.
The Middle East market, specifically Saudi Arabia, holds strong potential for growth for the French tyre company, says COO.
Oil prices have fallen 30 per cent since June to below $80 per barrel.
Key will be what OPEC’s biggest producer, Saudi Arabia, decides, with some analysts expecting no price supporting action from the Kingdom.
The capital increase will require the approval of the bourse regulator and an extraordinary shareholder meeting, a bourse statement said.
A ministry spokesperson said that the leader of the al-Ahsa attack had received orders from abroad, detailing the target and the location of the attack.
Saudi’s oil minister brushed off questions about tumbling oil prices and surplus supplies.
The Fadhili gas plant is due to be in operation by the third quarter of 2018.
Iran’s oil minister will meet his Saudi counterpart in Vienna to persuade the oil giant for cuts in oil production and supply, state news agency said.
No further details about the meeting were disclosed.
Errors in Mobily’s accounting led the company to restate 18 months of previously-announced earnings, wiping out $381 million of prior profits.
The attack comes a month after an American citizen was shot dead in Riyadh and another was wounded.
Oil prices have dived by a third to their lowest since 2010.
Regional concerns such as Iran’s impending nuclear deal and growing security threats from the region have helped mitigate the widening rift between GCC members, analysts say.
In the past two weeks, Zanganeh has visited Gulf Arab states Qatar, Kuwait and the UAE in a bid to win support for action to stabilise oil markets.
The funds will be used by Kayan to fund an increase in working capital and complete factories under construction.
Relations between Cairo and Doha have deteriorated since President Abdel Fattah el-Sisi took charge.
Aramco produces almost 9.5 million barrels a day.
Saudi Arabia shipped 6.722 million bpd of crude in September, up from 6.663 million in August but lower than July’s 6.989 million, data showed.
The majority of regional financial professionals also expect bonuses to increase when compared to last year, finds survey.
Jadwa plans to partner with real estate developers in Saudi to select and execute projects on behalf of clients.
The five-year offering received investor orders worth SAR2.43 billion.