Old flames rekindled
The kingdom is once again becoming fertile territory for foreign companies
A QUARTER of a century ago, Saudi Arabia divorced the foreign firms that had helped to build its oil industry, gaining full custody of the world's richest oilfields. Now, squeezed by the cost of a growing population, the kingdom is welcoming some old partners back. Agreements signed on June 3rd will open three Ireland-sized chunks of virgin desert to international consortia, allowing them to tap and use whatever natural gas they find.
This article appeared in the Business section of the print edition under the headline “Old flames rekindled”
More from Business
TikTok’s time is up. Can Donald Trump save it?
The imperilled app hopes for help from an old foe
The UFC, Dana White and the rise of bloodsport entertainment
There is more to the mixed-martial-arts impresario than his friendship with Donald Trump
Will Elon Musk scrap his plan to invest in a gigafactory in Mexico?
Donald Trump’s return to the White House may have changed Tesla’s plans
Germany is going nuts for Dubai chocolate
Will the hype last?
The year ahead: a message from the CEO
From the desk of Stew Pidd
One of the biggest energy IPOs in a decade could be around the corner
Venture Global, a large American gas exporter, is going public