Saudi Arabia to host the 14th edition of global oil and gas conference 

(International Petroleum Technology Conference)
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Updated 27 January 2022
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Saudi Arabia to host the 14th edition of global oil and gas conference 

RIYADH: Saudi Arabia will host the 14th edition of the International Petroleum Technology Conference, known as IPTC, in Riyadh from Feb. 21 to 23, it has been announced.

Held under the patronage of Crown Prince Mohammed Bin Salman, the 14th edition of the oil and gas conference will have Saudi Aramco serving as the exclusive host. 

The conference will involve regional energy ministers, industry leaders, and governmental representatives to discuss their views on timely industry topics and trends.

“IPTC 2022 will demonstrate the energy sector’s resilience, ecosystem evolution and technological advancement during one of the most challenging times of our industry,” the event’s executive committee chair, Nasir Al Naimi, said. 

“The conference will highlight how innovation and technology can lead the industry to develop sustainable solutions to achieve growth within the boundaries of a circular economy,” he added.

The event shall attract over 18,000 attendees from more than 70 countries, to tackle over 530 diverse topics. 

It is a collaborative effort among the American Association of Petroleum Geologists, the European Association of Geoscientists and Engineers, the Society of Exploration Geophysicists and the Society of Petroleum Engineers.


Closing Bell: Saudi main index dips slightly to 10,912

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Closing Bell: Saudi main index dips slightly to 10,912

RIYADH: Saudi Arabia’s Tadawul All Share Index was broadly stable on Tuesday, as it shed just 4.61 points or 0.04 percent to close at 10,912.43.

The total trading turnover of the benchmark index stood at SR3.99 billion ($1.06 billion), with 68 of the listed stocks advancing, and 194 declining.

The Kingdom’s parallel market Nomu gained 0.68 points to close at 23,358.18.

The MSCI Tadawul Index also edged up by 0.03 points to 1,467.56.

The best-performing stock on the main market was Saudi Cable Co. The firm’s share price rose by 9.72 percent to SR161.40.

The share price of Almasane Alkobra Mining Co. advanced by 9.25 percent to SR108.70.

Al-Jouf Agricultural Development Co. also saw its stock price climb by 6.46 percent to SR48.10.

Conversely, the share price of Tabuk Agricultural Development Co. edged down by 3.67 percent to SR7.61.

On the announcements front, Dar Al Majed Real Estate Co. said that it signed a Shariah-compliant banking facilities agreement with the Arab National Bank valued at SR500 million.

In a Tadawul statement, the company revealed that the agreement is aimed at supporting the firm’s expansion plans and financing its future projects in line with its approved strategic plan.

The financing term extends for up to five years and includes a grace period of two years.

The share price of Dar Al Majed Real Estate Co. declined by 0.99 percent to SR9.

Saudi Paper Manufacturing Co. said it signed a credit facilities agreement with Kuwait Finance House Bahrain, which includes facilities allocated to finance working capital and medium-term facilities amounting to $40 million.

In a Tadawul statement, the company revealed that the working capital facilities extend for 12 months and are renewable.

The medium-term facilities last for 48 months, including a six-month grace period.

The credit facilities will be used to cover the company’s working capital for operational activities, plans and expansions in purchasing raw materials, in addition to restructuring medium-term debts to improve cash flows.

The share price of Saudi Paper Manufacturing Co. edged down by 1.09 percent to SR58.80.