Petrol prices have been reduced by an average of 2.56 per cent for June
The Barakah nuclear energy plant has delayed the launch of operations from 2017 to 2018
The new venture will seek to build waste-to-energy plants across the Gulf
OPEC and 11 non-members agreed to cut oil output by about 1.8 million barrels per day in the first half of 2017
Construction of the 1,177MW independent solar plant will begin immediately
The contracts are part of plans to retain more oil and gas industry wealth within the country
The loan is the largest ever ECA-backed corporate facility
Kuwait said discussions included the possibility of deepening the cuts or prolonging them by 12 months
Saudi arrivals to China in April were down 3.9 per cent from a year ago
Indian state refiners plan to set up a refining venture with Saudi Aramco
Oil producers are extending the current agreement on global oil supply cuts until March next year
The first deliveries of the joint venture will begin in early 2019
Deals are expected to be signed with US companies such as Schlumberger, Halliburton, Baker Hughes and Weatherford
The profit forecast is despite losses at a number of KPC units
The contract covers development, engineering, procurement, construction, operation services, maintenance and installation
India’s April imports from Iraq topped 1 million barrels per day
The kingdom is also eyeing power connectivity with countries in Asia and Europe
The investment would boost Aramco’s presence in China’s massive refining industry
Commercial inventories fell for a second straight month in March
Marzouk expressed his support for a nine-month extension of the oil production cut
The contract comes under the scope of long-term agreement signed in October
The next round of cuts will be on the same terms as the existing deal
Revenues rose to Dhs4.1bn, up 6 per cent, mainly due to higher oil and gas prices
OPEC has previously kept supplies to clients in high-growth Asian markets steady, while cutting allocations to Europe and the US
A royal decree exempted the Gulf’s largest utility firm from municipality fees
Siemens will deliver 35 substations for the Qatar power transmission system expansion project
India, the world’s third biggest oil consumer, plans to build a 1.2 million bpd refinery to petrochemical project
Major oil producers pledged to cut output by almost 1.8 million bpd during the first half of the year
The start of nuclear operations for Unit 1 has been pushed back from 2017 to 2018
The firm said it expects to raise around $150m from the IPO