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Benchmark: Saudi Arabia is building an EV battery supply chain

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Saudi Arabia has cut a number of deals recently that coud make the country’s lithiu-ion supply chain the most developed in the Middle East, according to an analysis by Benchmark Mineral Intelligence. The Saudi processing plant will process spodumene from a mine that European Lithium is developing in Wolfsberg, Austria.

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Baker Institute expert: crude-oil production increase a risky strategy for Saudi Arabia

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A number of factors are pushing Saudi Arabia to raise its crude-oil production capacity, but the wide range of potential outcomes suggests that such an increase is a risky strategy for the kingdom and the global environment, according to a new article by an expert from Rice University’s Baker Institute for Public Policy.

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Opinion: Saudis Planning For A War Of Attrition In Europe With Russia’s Oil Industry

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Russia’s central bank recently warned about the growing financial risks to the Russian economy from Saudi Arabia encroaching upon its traditional export market for crude oil. Russia sends 70 percent of its oil to Europe, but Saudi Arabia has been making inroads in the European market amid the oil price downturn.

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What Does The Next OPEC Meeting Have In Store?

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The next OPEC meeting on the 2nd of June will act as little more than a forum for continued altercations between Saudi Arabia and Iran. OPEC interactions have become a direct altercation between Saudi Arabia and Iran, with the remaining members reduced to mere observers. million barrels per day (bpd).

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Saudi Aramco and SABIC to develop innovative crude-oil-to-chemicals complex; 400K bpd; reducing focus on transportation

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Saudi Aramco and SABIC have signed a memorandum of understanding (MoU) to develop a fully integrated crude-oil-to-chemicals (COTC) complex in the Kingdom of Saudi Arabia, which governs the execution of the Front End Engineering Design (FEED) before a final investment decision is made.

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Alcoa splitting into two companies; expecting 2.4x increase in automotive revenues to $1.8B in 2018

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The Board of Directors of Alcoa has unanimously approved a plan to split the lightweight metals leader into two independent, publicly-traded companies. The globally competitive Upstream Company will comprise five business units that today make up Global Primary Products: Bauxite, Alumina, Aluminum, Casting and Energy.

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Day Of Reckoning For US Shale Will Have To Wait

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October has been billed as a pivotal month in which indebted shale companies would see their credit lines cut, precipitating a faster consolidation in the industry that would sow the seeds of a rebound. A new Jeffries report says that only $450 million in borrowing bases have been cut, across more than 20 companies.