Abdullah of Saudi Arabia

Al-Khobar | Kingdom of Saudi Arabia: Saudi Aramco Endowed Chair of Technology and Information Management at Prince Mohammad Bin Fahd University’s College of Computer Engineering and Science recently organized one-day seminar on “Advances in Cloud Computing and Business Security.” Delivering a keynote address, Professor T.R. Gopalakrishnan Nair said: “Cloud is the ideal case to make computing capability a universal utility. Very soon big desktops would vanish with the arrival of intelligent...Read Full Story

Saudi Arabia, the top exporter of crude, wants to see an oil price per barrel of about $100. Moreover, the country wants to see an increase in the world’s oil inventories before demand rises by the end of 2012. All these were recently expressed by Ali al-Naimi, the Oil Minister of Saudi Arabia. The most current Brent crude oil price was $112.26. That is way lower than its highest rate of $128 in the month of March this year. Since the early parts of 2011, Brent has been trading at more than...Read Full Story

According to PANA News several state-backed Iranian oil firms have recently been targeted by a group of hackers from Saudi Arabia.The websites of the Iranol, the Iranian Oil Ministry, and the National Iranian Oil Company were all targeted by a worm (a type of virus that self-replicates in order to spread deeper and deeper into a computer system) on the 22nd of April. The virus was detected and removed before it could affect the systems.This is not the first time that Iran, currently under...Read Full Story

(Reuters) – Oil dropped nearly 2 percent Tuesday as Saudi Arabia sought to knock back the price rise that has threatened the global economy, with the oil minister offering the most detailed argument to date that OPEC nation was prepared to meet any supply shortfalls. Saudi Arabian Oil Minister Ali al-Naimi said the kingdom was pumping 9.9 million barrels per day — the most in decades — supplying every customer request, and was willing to turn the taps to the maximum 12.5 million bpd...Read Full Story

“We are shifting our mindset from that of a giant oil exporter to focus on adding value to products by trading,” Aramco Trading chief executive Said al Hadrami told an energy conference in Bahrain this week. His comments are particularly pertinent as Riyadh seeks to capitalise on its refining strength and run its own oil trading book – buying and selling gasoline, gas oil and other fuel to balance the needs of its expanding system, and to turn a profit. A new Saudi state-owned company, Aramco...Read Full Story

A Saudi expert for stock market has called on the Ministry of Finance and the Saudi Arabian Monetary Agency (SAMA), besides the local commercial banks aimed to recovery confidence to the local stock market of the stock value decline that does not get the firm and strong status of the Saudi economy. Dr. Sami Bin Abdul Aziz Al Nuwaiser, an expert of financial investment, said:” The local stock market is a key indicators for any global economicparticularly for Kingdom witnesses a quantum jump...Read Full Story

Saudi Aramco Endowed Chair of Technology and Information Management at Prince Mohammad Bin Fahd University’s College of Computer Engineering and Science recently organized a one-day seminar on “Advances in Cloud Computing and Business Security.” Delivering a keynote address, Professor T.R. Gopalakrishnan Nair said: “Cloud is the ideal case to make computing capability a universal utility. [...] To continue reading this article, click on the headline.Read Full Story

New York May 14 SharewellNewswire com - Saudi Arabia rsquo s oil minister Ali-al-Naimi has called for Brent crude prices to fall to 100 a barrel because global supply is outweighing demand Brent has fallen 6 percent this month amid concerns that fuel demand will be badly impacted by concRead Full Story

Saudi Arabia recently announced that it had halted a $100 billion oil production expansion plan to raise capacity to 15 million barrels a day by 2020. At this point, the country claims to have capacity of 12 million barrels a day. What does this mean for its future? Let’s take a look behind the figures. Figure 1. Saudi Arabian oil production and exports, from Energy Export Data Browser. Note that oil production is in grey, oil exports are in green, and the black line represents consumption...Read Full Story

TOKYO (Business News) - Top oil exporter Saudi Arabia is pumping at around 10 million barrels per day (bpd), and is storing 80 million barrels to meet any sudden disruption in supplies, Oil Minister Ali al-Naimi said on Tuesday. Worries of a supply disruption from the Middle East due to escalating tensions between the West and Iran over Tehran's disputed nuclear program pushed BrentRead Full Story