Saudi Arabia seeking to buy 300,000 tons hard wheat

Updated 16 June 2016
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Saudi Arabia seeking to buy 300,000 tons hard wheat

JEDDAH: Saudi Arabia’s main state grain agency, the Saudi Grains Organization (SAGO) is seeking to buy 300,000 tons of hard wheat in a tender.
The wheat should contain 12.5 percent protein and will be for shipment from Sept. 1-30, SAGO said in a statement.
The deadline for offers is Friday, it said.
Of the total, 180,000 tons will be for shipment to the port of Jeddah and 120,000 tons to the port of Dammam.
Saudi Arabia has become a major importer of hard and soft wheat since abandoning plans for self-sufficiency in 200. It halted purchases of locally grown wheat this year.
The tender is the third to be announced in 2016.


US energy secretary meets Saudi counterpart after OPEC cuts

Updated 10 December 2018
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US energy secretary meets Saudi counterpart after OPEC cuts

RIYADH: Saudi Arabia’s energy minister held talks Monday with US Energy Secretary Rick Perry, after the Kingdom and its allies defied US pressure to cut oil production in a bid to prop up prices.
They discussed the “state of the oil market” and energy cooperation between the two countries during a meeting in eastern Dhahran city, the minister, Khalid Al-Falih, said on Twitter.
Perry tweeted that he discussed the need for “open, free, and fair markets with the Saudis.”
OPEC members and 10 other oil producing nations, including Russia, on Friday agreed to cut output by 1.2 million barrels a day from January in a bid to reverse recent falls in prices.
The decision came even as US President Donald Trump demanded that the cartel boost output in order to push prices down.
But Al-Falih shrugged off the pressure last week, saying “we don’t need permission from anyone to cut” production.
The US “is not in a position to tell us what to do,” he told reporters ahead of Friday’s OPEC meeting in Vienna.
Last week, for the first time in decades, the United States — which is not a member of OPEC — was a net exporter of crude oil and petroleum products.
It was the latest sign of how the shale boom has lifted the US standing on global petroleum markets, prompting talk of “energy dominance” by Trump.
Perry’s visit to Dhahran came as Crown Prince Mohammed bin Salman unveiled state oil giant Aramco’s plan for a new energy megaproject in the area known as the King Salman Energy Park (SPARK).
The energy park is expected to attract an initial investment of $1.6 billion, Aramco said.