SAOGE focuses on oil and gas industry's progress

Updated 22 November 2015
0

SAOGE focuses on oil and gas industry's progress

DAMMAM: The 7th edition of the Saudi International Oil and Gas Exhibition (SAOGE) opens at the Dhahran International Exhibition Center in Dammam on Monday. The three-day expo is being held with the support of Eastern Province Gov. Prince Saud bin Naif.
Dhahran Expo CEO Mohammed bin Hamad Al-Hussaini said: "We are extremely proud for this honor that Prince Saud is extending to SAOGE 2015; this is a further award to the ever-increasing importance of SAOGE as the best-attended and premier oil and gas exhibition in Saudi Arabia".
The three-day show aims to highlight the development of products in the oil and gas industry, which has taken a pivotal position in the Saudi economy, compared to other commercial industries in the Kingdom, and to other countries that do not have the hydrocarbon raw material, the official said.
He said that gas and oil are the basic raw materials for the manufacturing and consuming industries, in addition to being a key material in the production of a myriad of other chemicals.
He said the Eastern Province (EP) ranked first in the manufacturing materials industry and in the number of factories specialized in those industries, which require the identification of appropriate opportunities to develop the sector, and identify how to increase its products, without direct dependence on raw materials, but the resulting industries.
The SAOGE, which attracts the oil and manufacturing industries’ major investors, will include many contributions and offers from key industry professionals to review the most prominent developments, the new global research and studies in the field of oil industries, its development and protection under the current circumstances, Al-Hussaini added.
The exhibition is an important linking point for companies, distributors and suppliers in the oil sector. It aims at promoting investment by attracting more capital that will contribute in the launch of many projects in the most important national industry sectors in the EP.
Moreover, SAOGE will review through its activities the latest products in the oil industry, the major challenges facing the sector, in addition to many of the solutions that have contributed to raising the level of performance and improve the related services.


Saudi Arabia’s SABIC and NCB sign deal to finance small businesses

The National Commercial Bank struck the agreement with SABIC. (Reuters)
Updated 19 November 2018
0

Saudi Arabia’s SABIC and NCB sign deal to finance small businesses

  • The move will help develop local industries through financing and refinancing entrepreneurs

LONDON: The National Commercial Bank (NCB) has signed a memorandum of understanding with the Saudi Basic Industries Corporation (SABIC) to help boost the financing of small and medium enterprises (SMEs).

The move will help develop local industries through financing and refinancing entrepreneurs, Asharq Al-Awsat newspaper reported.

The agreement will enable entrepreneurs and small and medium enterprises (SMEs) to obtain support and funding from NCB at preferential rates.

In addition, NCB will provide other services, including training and educational and awareness courses.

NCB, also known as Al-Ahli Bank, recently organized three workshops geared toward SMEs, covering areas such as credit approvals, financing and trade.