Saudi state oil company Saudi Aramco wants to raise its share in Luksar, a joint venture with Russia's Lukoil, to 50 per cent, the chief executive of the Russian company said on Wednesday.
"They are interested in taking t
Saudi Arabia's government and a Russian state fund have signed a memorandum of understanding to jointly invest as much as $10 billion, official Saudi news agency SPA said.
The deal between Saudi Arabia's Public Investment
Egypt plans to complete establishment of $5 billion joint fund with the Russian Direct Investment Fund and Arabian sovereign wealth funds in 2015, Egypt's Minister of Industry Mounir Fakhry Abdel Nour told TASS.
The minister s
The economic volume of the GCC countries combined together is more than $1.6 trillion and is poised to hit $6 trillion over the next five years, said a report citing the Bahrain Deputy Prime Minister Shaikh Mohammed bin Mubarak Al Khalifa.
Saudi Arabia and Russia have signed an agreement to co-operate on nuclear energy development, a Saudi Arabian government body in charge of such projects said.
The government body, the King Abdullah City for Atomic and Renewable En
Russia is ready to co-operate closely with Bahrain in the technical military field.
This was announced as Russian Ambassador Vagif Garaev praised the level of relations between the two countries, highlighting the convergence of vi
The oil ministers of Russia and Saudi Arabia plan to discuss a broad cooperation agreement at an economic forum in St Petersburg, two sources told Reuters.
Saudi Arabia is the top producer in the Organization o
Scandal-plagued Fifa postponed the bidding for the right to host the 2026 World Cup on Wednesday and embarked on the search to find a replacement for outgoing President Sepp Blatter.
Fifa secretary general Jerome Valcke said durin
Group of Seven leaders believe a window of opportunity for a political deal in Syria may be opening up that would eventually see President Bashar al-Assad step down, giving way to a new coalition government, officials familiar with the discussio
Russia will begin importing Iranian oil under a long-heralded oil-for-goods barter arrangement in the coming week, Iran's oil minister was quoted as saying, more than a year after negotiations began.
The Kremlin announced in A