• 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 8 minutes The Coal Industry May Never Recover From The Pandemic
  • 11 minutes China Raids Bank and Investor Accounts
  • 4 hours Biden admits he has been tested for Cognitive Decline several times. Didn't show any proof of test results.
  • 33 mins Putin Forever: Russians Given Money As Vote That Could Extend Putin's Rule Draws To A Close
  • 2 hours During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 17 hours Apology Accepted!
  • 3 hours Tesla Model 3 police cars pay for themselves faster than expected, says police chief
  • 5 hours The Political Genius of Donald Trump
  • 20 hours U.S. natural gas at major disadvantage in Europe and China.
  • 21 hours Biden came out of his basement today (Thursday) and said , "we have 120 Million deaths from Covid 19.
  • 4 hours Why Oil could hit $100
  • 21 hours Putin Paid Militants to Kill US Troops
  • 1 day Per most popular Indian websites it was Indian troops not Chinese troops breach of LAC that caused the clashes. If you know any Indian media that claim to the contrary please provide the link
  • 1 day The world is headed for big problems - interview with very smart economist
  • 1 day CoVid in Spain, 9 months before China
Big Oil’s Nightmare Is Coming True

Big Oil’s Nightmare Is Coming True

Royal Dutch Shell has followed…

How The Fed Bailed Out U.S. Oil And Gas

How The Fed Bailed Out U.S. Oil And Gas

In March, the U.S. Congress…

ZeroHedge

ZeroHedge

The leading economics blog online covering financial issues, geopolitics and trading.

More Info

Premium Content

Saudi Officials Are Arresting High-Profile Citizens Ahead Of Aramco IPO

Apparently feeling emboldened by the fact that Saudi Arabia suffered zero repercussions over the Oct.3, 2018 state-ordered murder of Jamal Khashoggi, other than Crown Prince Mohammad bin Salman (MbS) briefly being shunned by international elites for a few months, it's business as usual again in the kingdom of horrors

In a new breaking report, The Wall Street Journal reveals that "Saudi authorities have arrested several high-profile people in recent days, extending an effort to sideline Crown Prince Mohammed bin Salman’s perceived opponents, despite a push to repair the kingdom’s international image to attract investment."

Yasser al-Rumayyan, Saudi Aramco's chairman, via Reuters.

The WSJ counts nine people total arrested in a span of a little more than the past week who are not particularly known for being dissidents or any level of explicitly anti-government activists. They include journalists, intellectuals and businessmen detained since Nov. 16.

What additionally makes these detentions particularly brazen on the part of Riyadh authorities is that it comes just in the final stages of the kingdom preparing for the launch of what most see as the biggest listing in history, Saudi Aramco IPO. The Aramco IPO has already raised over $20 billion in orders so far.

The damning WSJ report hit the same day that Aramco executives met with Abu Dhabi Investment Authority (ADIA) officials in the UAE to discuss investment options and possibilities in the oil giant's debut share sale, and at a moment the kingdom is desperate to attract a major anchor investor to ensure success. Related: Why The Latest Shale Bust Is Different

It appears MbS  no doubt further emboldened by continued support from President Trump even after the Khashoggi affair  realizes a pesky little issue like human rights abuses, including torture of dissidents and continued record pace beheadings and crucifixions, can't stand in the way. 

It also looks as if MbS wants to continue to preempt any future possible criticism from within, given the following

A person familiar with the matter said all of the people arrested in recent days had been identified by the government for writing or speaking in support of the 2011 Arab Spring uprisings that toppled a series of Middle Eastern governments. Top of Form

The 'Arab Spring' of some eight years ago left little impact in Saudi Arabia, though there were reports of sporadic intense protests among the country's restive Shia population in the eastern part of the kingdom. The Saudi military did lend support to the allied Bahraini monarchy by sending tanks across the King Fahd Causeway to crush a popular uprising in the streets there.

Interestingly some among the arrested were intellectuals and human rights organization members who themselves had previously voiced support for and participated in initiatives connected with MbS' reform initiative. 

The WSJ reports of others who don't fit the profile of dissidents in any clear way: "Another, prominent philosopher Sulaiman al-Saikhan al-Nasser, participated in government-sponsored cultural initiatives... Also arrested in recent days were Fuad al-Farhan and Musab Fuada, who both started a company that offers business skills training... Abdulaziz al-Hais, is a former journalist who now owns a carpentry business.... Abdulrahman Alshehri is a journalist who has written for domestic and international outlets."

One official with Human Rights Watch (HRW) told the WSJ, “It’s all connected to the same campaign of trying to eliminate independent voices in Saudi society, of going after anyone who could be even mildly critical or independent.”

By Zerohedge.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Tim Lebsock. on November 26 2019 said:
    true Kashoghi's dispatching was brutal by any standard, but the often glossed over fact is that he was an Islamist and constantly working towards their goal of a world Islamist theocratic state. of course the authors here would dispute that, but it is becoming more clear every day the political leanings this site's editors clearly are demonstrating with increasing frequency.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News