The kingdom is aiming to raise at least 1 per cent to 2 per cent of Aramco from these investors, according to sources
Prince Abdulaziz bin Salman was appointed as the new Saudi energy minister on Saturday
Prince Abdulaziz has been appointed as the kingdom’s new energy minister
Prince Abdulaziz bin Salman has been appointed to the role
The kingdom has started building a portfolio of LNG production assets and export infrastructure
Deal with GIC brings brings combined investment to $4.9bn
Aramco is expected to choose about four or five banks to lead the IPO marketing
Khalid Al-Falih will be replaced by Yasir Al-Rumayyan, head of the PIF sovereign wealth fund
Will be separate from energy ministry
Prices in the UAE are linked to global oil prices
ENOC will supply lubricants for up to 16 product tankers at IMS Oil’s Fujairah and Singapore ports
Saudi Aramco is expanding its refining and petrochemical operations to boost global sales
Since beginning production in 2017, Atrush has extracted about 17 million barrels of oil from the field
“The risk to global economic growth remains skewed to the downside,” the report said
The hydroelectric project will generate 250MW of power when complete
Saudi energy minister Falih called the latest attack a “terror and sabotage act”
The Dhofar wind farm in Oman has begun generating electricity
Signs of an economic slowdown caused global oil demand to grow at its slowest pace since the financial crisis of 2008
Global demand for crude should pick up in the second half, says Khaled al-Fadhel
The partnership will cover all of Reliance’s refining and petrochemical assets
The company said the drop in earnings was mainly due to a drop of 4 per cent in the average realised price of crude oil
The outlook is fragile with a greater likelihood of a downward revision than an upward one, the report said
Saudi says it is committed to do whatever it takes to keep the market balanced next year
Production at the oilfield block reached 1.33 million tonnes in the first half of this year
VTTI owns 15 terminals located at major hubs across 14 countries
Tensions have risen between Iran and the West since last year
Despite the cost expansion, the project is still expected to be commissioned in 2025
Saudi Arabia would continue to comply with production cuts until the end of Q1 2020, he said
OPEC and allies including Russia agreed to extend output cuts until March 2020, seeking to prop up crude prices
There are several oilfields in the border area between Iraq and Kuwait, most prominently Ratqa