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- Saudi Pipeline Shutdown Drives Oil Toward $108; Aramco Weighs Arlanxeo Exit; Tabby Raises $230Mn at $6.5Bn Valuation
Saudi Pipeline Shutdown Drives Oil Toward $108; Aramco Weighs Arlanxeo Exit; Tabby Raises $230Mn at $6.5Bn Valuation
AI, tech, startup and business stories from the Arab world. For the driven, the dreamers and the doers
Tuesday, September 15, 2026
Happy Tuesday everyone!
Persian Gulf energy disruptions, state asset divestments, and sovereign technology bets lead business developments across regional markets. Crude prices jumped past $107 a barrel after Saudi Arabia shut its East-West pipeline following attacks in the Riyadh and Madinah regions. National oil giant Saudi Aramco hired financial advisers to explore selling synthetic rubber maker Arlanxeo as part of a $35 billion asset sale program. Meanwhile, Gulf fintech platform Tabby, co-founded by CEO Hosam Arab, secured $230 million in new funding led by Blue Pool Capital, valuing the shopping and financial services company at $6.5 billion.
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Saudi East-West Pipeline Shutdown Pushes Crude Prices Toward $108
🔹 What Is It About
Oil prices climbed toward $108 a barrel after Saudi Arabia suspended operations along its East-West oil pipeline following attacks in the Riyadh and Madinah regions. Brent crude surged as much as 3.7% to trade at $107.95 a barrel, while West Texas Intermediate gained 3.14% to reach $103.19. Saudi energy officials confirmed the shutdown was taken as a precautionary safety measure to inspect pipeline infrastructure after strikes caused several injuries.
Shutting Red Sea Bypass: Saudi authorities halted crude transport along the East-West pipeline to inspect damage.
Spiking Benchmark Prices: Brent crude rose 3.7% toward $108 a barrel, while WTI climbed over 3%.
Causing Personnel Injuries: Regional strikes in the Riyadh and Madinah areas injured several site workers.
🔹 Why It Matters
Suspending operations on the East-West pipeline removes Saudi Arabia's primary alternative route for exporting crude without shipping through the Strait of Hormuz. Shifting crude movements away from Persian Gulf chokepoints becomes impossible when bypass pipelines suffer physical damage. Prolonged operational outages risk tightening global oil supplies, increasing fuel costs for international refineries and energy buyers.
Constraining Export Bypass: Damage to the East-West line limits Saudi Arabia's ability to bypass the Strait of Hormuz.
Raising Energy Costs: Reduced crude availability pushes global fuel benchmarks higher across international markets.
🔹 What’s Next
Saudi Aramco engineering teams will finish structural repairs and safety checks before reopening pipeline valves. Energy traders will monitor daily shipping logs at Yanbu port to see when Red Sea crude loadings resume.
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Money20/20 Middle East: Fintech’s Biggest Names Head to Riyadh
For three days, Riyadh will become a meeting point for some of the biggest names in finance and fintech. Money20/20 Middle East returns from September 14 to 16, with more than 38,000 attendees, 600 investors, 350 speakers and 150 startups expected in Malham.
The line-up includes Tabby CEO Hosam Arab, Revolut GCC CEO Ambareen Musa, NALA founder Benjamin Fernandes and Lean Technologies CEO Hisham Al-Falih. Beyond the stages, much of the action will be around founders meeting investors, financial institutions and potential partners as Saudi Arabia builds its position as a regional fintech hub. Smashi Business is an official media partner and will be covering the event from Riyadh.
Saudi Aramco Explores Arlanxeo Sale Under $35Bn Dollar Asset Program
🔹 What Is It About
Saudi Aramco hired advisers to explore selling its Netherlands-based specialty chemicals business Arlanxeo as part of a multibillion-dollar asset disposal strategy. The energy firm took full ownership of Arlanxeo in 2018 by purchasing the remaining 50% stake from Germany's Lanxess for €1.5 billion ($1.75 billion). Arlanxeo manufactures synthetic rubber and specialty elastomers used in tires, golf balls, and shoe soles, with production sites across Europe, Asia, and the Americas.
Retaining Financial Advisers: Aramco appointed advisers to approach chemical producers and private equity buyers.
Revisiting Past Buyouts: The potential sale follows Aramco's 2018 buyout of Lanxess's 50% holding for €1.5 billion.
Selling Non-Core Assets: Shedding Arlanxeo forms part of a broader plan to raise up to $35 billion from asset sales.
🔹 Why It Matters
Exploring an exit from Arlanxeo highlights Aramco's focus on raising cash to support state project funding and maintain annual dividend payouts. Selling non-core manufacturing assets allows the state energy producer to recycle capital into higher-margin domestic oil, gas, and chemical projects. Shedding fully owned international subsidiaries signals a shift toward divesting non-essential assets rather than relying only on infrastructure leasebacks.
🔹 What’s Next
Advisers will compile formal bidding materials and approach international chemical manufacturers and private equity groups. Aramco executives will review preliminary takeover offers before deciding whether to proceed with a formal sale.
Soliciting Buyer Bids: Financial leads will distribute confidential information memorandums to prospective suitors.
Tabby Secures $230Mn at $6.5Bn Valuation
🔹 What Is It About
Gulf fintech platform Tabby raised $230 million in a funding round led by Blue Pool Capital alongside existing institutional investors, reaching a valuation of $6.5 billion. Co-Founder and Chief Executive Officer Hosam Arab confirmed the capital injection will support product expansion across Saudi Arabia and the UAE. The company secured consumer and SME finance licenses in Saudi Arabia, as well as a Stored Value Facilities license in the UAE, while facilitating over $100 million in cumulative employee share tender sales since 2023.
🔹 Why It Matters
Securing consumer, business finance, and stored value licenses allows Tabby to broaden its product lineup past its initial buy-now-pay-later model into digital wallets and SME lending. Expanding regulatory approvals in Saudi Arabia and the UAE provides the legal framework needed to capture growing market share across regional consumer credit and merchant payments. Delivering over $100 million in staff equity liquidity builds employee trust and sets a precedent for liquidity management in regional tech firms.
🔹 What’s Next
Tabby's product teams will deploy new lending tools for small and medium enterprises across Saudi Arabia. Technical leads will roll out updated digital wallet features in the UAE under its Stored Value Facilities license.
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👨💻From Smashi Business’ Desk
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Dubai-born premium activewear brand SQUATWOLF has officially entered the Saudi Arabian retail market
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🔍In other news…
🦄 World of Startups
ChatFeatured, Canada-based AI startup, raised $2M in a pre-seed funding round from BY Venture Partners (UAE/Lebanon) and other global investors
Doctorbook, Syria-based healthtech platform, raised $16K in a pre-seed funding round from a group of angel investors, valuing the startup at $200K
Carbar, Australia-based car subscription platform, is merging with Carasti, UAE-based car subscription business operating across the UAE, Saudi Arabia, Thailand, and Singapore, at a combined pre-raise valuation of $74M
Fincart, Egypt-based eCommerce enablement platform, raised $2.8M in a seed funding round
