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Saudi FM Heads Kingdom’s Delegation at Davos

The logo of the WEF on a window of the Congress Center as participants and artificial intelligence generated artwork by Turkish-American media artist Refik Anadol are reflected inside the congress center on the eve of the 54th annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, 14 January 2024. (EPA)
The logo of the WEF on a window of the Congress Center as participants and artificial intelligence generated artwork by Turkish-American media artist Refik Anadol are reflected inside the congress center on the eve of the 54th annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, 14 January 2024. (EPA)
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Saudi FM Heads Kingdom’s Delegation at Davos

The logo of the WEF on a window of the Congress Center as participants and artificial intelligence generated artwork by Turkish-American media artist Refik Anadol are reflected inside the congress center on the eve of the 54th annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, 14 January 2024. (EPA)
The logo of the WEF on a window of the Congress Center as participants and artificial intelligence generated artwork by Turkish-American media artist Refik Anadol are reflected inside the congress center on the eve of the 54th annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, 14 January 2024. (EPA)

Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah arrived in Davos on Sunday heading the Kingdom’s delegation at the 2024 World Economic Forum.

At the global event, the delegation will discuss the greatest regional and international challenges and means to tackle them through dialogue and international cooperation.

It will discuss economic integration, the sustainability of resources, and benefiting from innovation and technical solutions.

It will stress the need to explore opportunities created by emerging technologies and their impact on forging international policies and decision-making.

The delegation will highlight the progress the Kingdom has made in its Vision 2030 and the transformation and development underway in the country in various fields. It will underscore the available investment opportunities in several sectors aimed at achieving a prosperous and diversified economy.

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Oman's OQ Exploration and Production Raises $2 Bln in IPO

OQEP is the exploration and production business of Oman's state oil group
OQEP is the exploration and production business of Oman's state oil group
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Oman's OQ Exploration and Production Raises $2 Bln in IPO

OQEP is the exploration and production business of Oman's state oil group
OQEP is the exploration and production business of Oman's state oil group

OQEP, the exploration and production business of Oman's state oil group, has raised $2.03 billion from its initial public offering (IPO) on the local stock exchange, it said on Thursday.

OQEP, which is floating around 2 billion shares equal to a 25% stake, said in a statement the offering was priced at the top of its indicative range of 370-390 baizas per share and was oversubscribed by around 2.7 times, including anchor investors.

The listing is part of a privatization program by state-owned energy group OQ, which is helping Oman to diversify its economy and cut its debt, Reuters reported.

It follows last year's IPOs of OQ's pipeline business, which raised $771 million, and oil and gas drilling business Abraj Energy Services, which raised $244 million.