Saudi Arabia mulls energy deal with Singapore

Cairo: The Saudi cabinet said on Tuesday it has authorized the energy minister to negotiate with Singapore regarding a draft memorandum of understanding in the field of energy, state news agency (SPA) reported citing a cabinet statement.

“The cabinet authorised the minister of energy — or his representative — to negotiate with the Singaporean side on a draft memorandum of understanding between the ministry of energy in the kingdom and the ministry of trade and industry in Singapore in the field of energy, sign it, and then submit the final signed copy to complete the legal procedures,” SPA said.

License approved

Also on Tuesday, the Saudi cabinet said it approved the license of Egypt’s Banque Misr to open a branch in the kingdom, state news agency (SPA) reported citing another cabinet statement.