13 Sep 2019
Just before Israelis embark on almost a month of Jewish High Holidays, traditionally a time of repentance and asking for forgiveness – something not often associated with the country’s politicians – they will go to the polls to choose the 22nd Knesset. It is the second time this year that Israel has held elections, after voting last April failed to produce a government. Once again, all indications are that the results will not be decisive.
11 Sep 2019
Although the increased chatter surrounding Saudi Aramco’s IPO plans is exciting, what is needed is more clarity surrounding the motivation for recent personnel changes, and future thinking regarding energy policy and the Aramco strategy from key decision makers. What investors and potential investors dislike is uncertainty.
10 Sep 2019
In recent months, the market has touted Saudi Arabia’s success in capturing a larger share of China’s crude imports, surpassing Russia as the top supplier and even reaching record high export levels this summer. This development is in part the result of recent, strategic downstream investments by Saudi Arabia in China, but equally as much a mark of economic pragmatism and shifting winds in global crude markets. The kingdom will continue to face stiff competition in supplying the Chinese market, particularly from Russia, and has further work to do to secure its longer-term competitive advantage compared to other key suppliers.