Search Site

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.

IHC Q1 net profit $2.17bn

The company launches Share Buyback Programme

Amazon triples quarterly profit

The company's cloud, ads, and retail businesses thrive.

McDonald’s profits up 7%

The quarterly profits increased despite weak Middle East sales.

ADQ buys stake in Plenary Group

The deal is aimed at expanding public and social infrastructure.

4th batch of Saudi oil derivatives grant arrives in Aden

The grant consists of 150,000 metric tons of diesel and 100,000 metric tons of mazut.
  • This initiative is part of Saudi Arabia's ongoing efforts to support the Yemeni people
  • The grant was provided to help Yemen operate over 70 power generation plants

Aden, Yemen – The fourth batch of the Saudi Oil Derivatives Grant, consisting of 150,000 metric tons of diesel and 100,000 metric tons of mazut, has arrived at the oil port in Aden. 

This initiative is part of Saudi Arabia’s ongoing efforts to support the Yemeni people, in response to a request by the Yemeni government to help provide oil derivatives to operate over 70 power generation plants across Yemen. 

The grant is an extension of previous grants amounting to $4.2 billion. 

The Saudi Oil Derivatives Grant is part of the Saudi Program for the Development and Reconstruction of Yemen (SDRPY), which has implemented 229 development projects and initiatives across Yemeni governorates to serve Yemenis in seven main sectors, including education, health, water, energy, transport, agriculture, and fishery, as well as building the capacity of government institutions.