• 5 minutes Mike Shellman's musings on "Cartoon of the Week"
  • 11 minutes Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 17 minutes WTI @ 67.50, charts show $62.50 next
  • 1 day The Discount Airline Model Is Coming for Europe’s Railways
  • 10 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 37 mins Starvation, horror in Venezuela
  • 19 hours Pakistan: "Heart" Of Terrorism and Global Threat
  • 5 hours Renewable Energy Could "Effectively Be Free" by 2030
  • 6 hours Saudi Fund Wants to Take Tesla Private?
  • 1 day Venezuela set to raise gasoline prices to international levels.
  • 18 hours Are Trump's steel tariffs working? Seems they are!
  • 2 days Batteries Could Be a Small Dotcom-Style Bubble
  • 2 days Newspaper Editorials Across U.S. Rebuke Trump For Attacks On Press
  • 2 days France Will Close All Coal Fired Power Stations By 2021
  • 2 days Don't Expect Too Much: Despite a Soaring Economy, America's Annual Pay Increase Isn't Budging
  • 2 days Scottish Battery ‘Breakthrough’ Could Charge Electric Cars In Seconds
Turkey Turmoil Drags Oil Down

Turkey Turmoil Drags Oil Down

While Turkey might not be…

Nord Stream 2 Clears Another Hurdle

Nord Stream 2 Clears Another Hurdle

Russia’s controversial Nord Stream 2…

Saudi Arabia Cancel Multi-Million Dollar Contracts with Russia

Russia and Saudi Arabia’s opposing stances over the situation in Syria has finally led to action. Saudi business tycoon Mubarak Swaikat has cancelled several multi-million dollar oil and gas contracts with nearly 20 Russian companies in protest against Moscow’s support of Syrian President Bashar Al-Assad’s regime. The decision was made by Swaikat himself without any pressure from the government.

“This is the least that I can do to support our brothers in Syria. The Saudi government and society have already given a shining example of selflessness and donations to make their Syrian brethren happy and support them in their time of need,” he said.

Saudi Arabia and Russia have clashed a few times over the conflict in Syria, with Russia even stooping as low as trying to claim that the Arab kingdom was “supporting terrorism in Syria.”

Saudi Arabia was quick to reply, stating that “the Russian accusations are based on wrong assumptions repeatedly voiced by the media of the Syrian regime and rejected by the international community.”

“The Ministry of Foreign Affairs strongly rejects and condemns such irresponsible accusations that distort the true position of the Kingdom, which has been keen on addressing the Syrian crisis according to the international legitimate conventions and through the UN Security Council, the body responsible for international security and peace.”

By. James Burgess of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

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