India is an emerging economic superpower and there is increasing trade between India and Europe, the US and India and trade with China. The Biden administration in September announced the India-Middle East-Europe Economic Corridor. This would have moved a lot of trade between Europe to India through Israel and Saudi Arabia. One-third of world trade …
Economic sanctions have cut Iran’s oil production in half and dropped oil exports to less than 20% of normal. Iran’s oil production is currently below 2 million barrels per day and Iran has about 300,000 barrels per day of oil exports. source: tradingeconomics.com Biden is expected to lift sanctions if Iran returns to strict compliance …
Iran should give up the mistaken belief that they will be allowed to get a nuclear bomb. The countries that oppose Iran developing nuclear weapons have strengthened their alliance. Iran hopes that Biden wins the election and that Joe restores looser terms and lifts sanctions. Israel Can Hit Iran Without Midair Refueling if Basing From …
The United Arab Emirates (UAE) and Israel have normalized relations. As part of the deal, Israel has suspended the annexation of the West Bank. The UAE is one of six members of the Gulf Cooperation Council (GCC). The members are the United Arab Emirates, Bahrain, Kuwait, Oman, Qatar, and Saudi Arabia. The GCC issued a …
Saudi Aramco’s shares closed at 36.8 Saudi riyals on Thursday, putting the company’s market value slightly below $2 trillion. The shares opened Thursday and reached 38.7 riyals where it briefly traded above a market value of $2 trillion. Apple closed at $1.21 trillion in market value. Brian WangBrian Wang is a Futurist Thought Leader and …
Saudi Aramco opens up $180 billion from its $1.7 trillion IPO price. The petroleum sector provides 87% of Saudi budget revenues, 90% of export earnings, and 42% of GDP. Apple is the second largest publicly traded company at $1.20 trillion in valuation and Microsoft is at $1.16 trillion. Brian WangBrian Wang is a Futurist Thought …
Saudi Aramco will raise $25.6 billion in world’s biggest I.P.O. This will be a bit bigger than the 2014 IPO of Alibaba. Aramco made a net profit of $68 billion for the first nine months of the year. This is a $90 billion annual run rate. They are pricing a PE ratio of 19 for …
Saudi Arabia oil exports will dip for a few days because of the damage to oil handling infrastructure. Saudi Arabia oil exports were 7,371.537 Barrel/Day in Dec 2018 and 6,968.319 Barrel/Day in Dec 2017. US oil exports including non-crude oil products for a few weeks in 2019 were over 8 million barrels per day which …
US All Liquids oil production is at 19.6 million barrels per day. US oil production is forecasted to increase by 1-2 million barrels per day by the end of 2020. US crude oil production is at 12.5 million barrels per day. Saudi Arabia had to cut oil production to support oil prices. Saudi Arabia is …
Elon Musk tweeted that a 10-kilometer hyperloop track with a full vacuum tunnel and a curve will be built. It will be built by The Boring Company with SpaceX. They currently have a 1.6 km (1 mi) track. Elon Musk indicates that they will have the 10-kilometer track by next year. Virgin Hyperloop One and …
Saudi Arabia controls a 10% of global oil production. They are the world’s biggest oil exporter with sales of $356 billion last year. China is the world’s biggest importer of oil. The annual value of global oil output is currently $2.5 trillion. If Saudi Arabia and OPEC were willing to accept China’s petroyuan contracts that …