Good morning, ladies and gents. The prospect of regional escalation is all everyone is talking about, as an end-of-the-week deadline will prove whether Trump was serious about the breakthrough in negotiations, or whether we’re heading for a new phase in an already unprecedented conflict. We have more on this in today’s big story, below.
Watch this space
ENERGY — Aramco is reportedly moving forward with the sale of a stake in its oil export and storage terminals, Bloomberg reports, citing people it says are familiar with the matter. The state giant reportedly tapped Citigroup to advise on its potential multi-bn-USD asset sale last November, which could fetch over USD 10 bn in proceeds.
The “business-as-usual” signal: Gulf states are pressing ahead with energy agreements to signal resilience despite the escalating regional conflict. Kuwait’s KPC is similarly moving to lease parts of its pipeline network, drawing interest from global private equity and infrastructure investors.
Oil flows shift after refinery hits: Refineries in both Saudi Arabia — particularly Ras Tanura — and Kuwait were struck in the past weeks, forcing Riyadh to divert crude through its East‑West pipeline to Yanbu on the Red Sea. Both governments have reaffirmed that production remains a priority.
Ras Tanura — Aramco’s export architecture anchor: Aramco’s key export and storage infrastructure includes its main hub at Ras Tanura on the Arabian Gulf, with additional terminals on the Red Sea.
DISRUPTION WATCH — Ades pauses offshore rigs across the GCC: Ades Holding has temporarily suspended operations at several offshore drilling rigs in the GCC amid regional tensions that have halted transit through the Strait of Hormuz, forcing Gulf producers to slash daily crude production due to limited storage capacity.
Diversification cushions disruption: Ades characterizes the suspensions as short-term and essential for the safety of personnel and assets. The firm’s steady geographic footprint — 123 rigs across 20 countries — will act as a hedge, allowing them to absorb local shocks without derailing the long-term growth trajectory.
ICYMI- Gulf energy infrastructure is bracing for even more heat, after Trump’s threat to target Iranian power plants if it doesn’t fully open the Strait of Hormuz by Friday was met with an Iranian rebut that “all energy infrastructure, as well as information technology […] and water desalination facilities, belonging to the US and the regime in the region will be targeted.”
CAPITAL MARKETS — Networkers taps Estidamah for main market move: Saudi Networkers Services Company appointed Estidamah Capital as financial advisor for its migration from the Nomu parallel market to the Tadawul main market, it said in a disclosure to Tadawul.
What it takes: To transition from Nomu to the main market, a company must have been listed on Nomu for at least two years and satisfy all main market listing conditions — except for market capitalization, where a lower threshold of an average SAR 200 mn over the past six months applies.
SPORTS — AFC moves West Region knockouts to Jeddah amid war: The Asian Football Confederation (AFC) confirmed that all remaining West Region knockout matches for its 2025-26 club competitions will be played as single-leg ties at centralized venues in Jeddah. Postponed ties have also been relocated to the city after the original fixtures in Qatar, Iran, Saudi Arabia, and the UAE were stalled from early March due to the ongoing US-Israeli war with Iran, Reuters reports.
The new schedule: The Champions League Elite Round of 16 will take place on 13-14 April at King Abdullah Sports City and Prince Abdullah Al Faisal Sports City Stadium, featuring Al Ahli vs. Al Duhail and Al Hilal vs. Al Sadd. The quarter-finals, semis, and final are scheduled for 16-25 April.
More events rescheduled
The World Economic Forum postponed its Jeddah Collaboration and Growth Meeting, originally set for 22-23 April, due to the ongoing conflict, state news agency SPA reports. A new date is yet to be set.
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The big story abroad
In what would be a major escalation, the Pentagon is reportedly expected to dispatch thousands of soldiers to the region and potentially inside Iranian territory. The number of troops reportedly ranges from 2k to 3k soldiers from the US Army’s Airborne Division.
Meanwhile, Iran says Strait of Hormuz is open: Tehran said that “non-hostile vessels” may transit the Strait of Hormuz “in coordination with Iranian authorities,” in a letter to International Maritime Organization members. That said, some 3.2k vessels remain stuck in the Arabian Gulf, seemingly unwilling to brave the waterway yet.
Mediators from Egypt, Turkey, and Pakistan want to set up talks between the US and Iran by Thursday, though a diplomatic divide remains between Washington and Tehran, the Wall Street Journal reports.
And in the world of AI: ChatGPT maker OpenAI is shuttering its video generation offering Sora just six months after its debut in a bid to streamline its products. The company positioned the program as a means to create lifelike AI-generated videos within a community-focused environment. Available on the Apple App Store without charge, Sora has seen its popularity decline since its debut.


