The company is also holding talks with another bank about the possibility of restructuring a further SAR99.6 million of debt.
Saudi-led coalition warplanes continued bombing Yemen on Wednesday despite an announcement by Riyadh a day earlier that it was ending its campaign of air strikes.
The four-bedroom villa concept includes an array of solar panels that will generate approximately 40,000 KWh per year.
Chevron’s decision was mainly down to problems getting work permits from the Kuwaiti authorities for its expatriate staff, sources told Reuters
Oil prices had gained nearly $10 a barrel this month on tensions in the Middle East and concerns over slowing output growth in the United States, before starting to drop back.
It lost 1.94 billion riyals ($517.4 million) during the three months to March 31.
The delegation will meet Prince Abdulaziz because Saudi oil minister Ali al-Naimi is out of the country on a business trip, a source said.
The plan is part of the UAE’s strategy of increasing its crude oil output potential to 3.5 million barrels per day by 2017-18.
Saudi Arabia has been supplying more crude to Asian markets and Saudi Aramco’s shipping arm has tendered to build 5 very large crude carriers (VLCCs).
The firm chose Bank Muscat and J.P.Morgan to arrange investor meetings for the bonds in the United States and Europe.
The company expects to set up offices by the end of this year.
Nine firms bid for stakes in the Abu Dhabi Company for Onshore Oil Operations (ADCO) concession which became available after a 40-year deal expired.
The company is looking in all regions and did not specify a minimum price level below which the acquisitions would become uneconomic.
For the first quarter of 2015, Tasnee posted a net loss of SAR332.5 million ($88.7 million).
Sipchem attributed the increase in quarterly profit to higher production and sales and lower expenses.
Naimi said that oil production in Saudi Arabia, the world’s biggest crude exporter, was “around 10 million” bpd in April.
Tasnee made a net loss of SAR332.5 million ($88.7 million) in the first quarter of 2015.
The company reported a net profit of QAR951 million ($261.2 million) in the first quarter of 2015.
The grades found in the fields were both light and heavy oil, with preliminary results showing “huge commercial volumes”, KUNA said.
SABIC has previously said scarce gas supplies at home have forced it to look at investment opportunies abroad.
SABIC’s acting CEO Yousef Abdullah al-Benyan said the idea was still at an early stage.
SABIC CEO Benyan said the fall in oil and petrochemical product prices was “out of control”, but said his company was well placed to deliver returns.
The firm made SAR205.4 million in the first quarter of 2015, it said in a bourse statement.
SABIC made a net profit of SAR3.93 billion in the first quarter, down from SAR6.44 billion in the year-earlier period.
A proposal to reintroduce quotas would spark a fierce debate in OPEC as national prestige and market share are at stake.
The cargo would be for May delivery, traders said.
The cargoes were sold at 37-40 cents a barrel below Dubai quotes via a tender, averaging at a discount of 39 cents a barrel.
The Egyptian government had said state-owned EGPC will buy 65 per cent of its oil product import needs from ADNOC in 2015.
Brent crude touched a 2015 high of above $63 per barrel on Thursday.
Saudi Aramco and India’s Reliance Industries have not yet concluded a term contract to import diesel and gasoline.