The company’s tax rate has been cut from 85 per cent to 50 per cent
The tax rate for investments exceeding $100bn will be 50 per cent
Electricity and water minister Essam Al-Marzouq has expressed alarm at rising consumption in the country, according to reports
Oil producers agreed in December to cut their combined output by almost 1.8 million bpd in the first half of the year
The kingdom’s challenge is how to cut output without reducing exports too much
Riyadh has often communicated two sets of output figures to the market
The world’s largest oil exporter plans to split up the state-controlled utility into separate companies
The decline came ahead of the release of US crude inventory data
The IEA said crude stocks in the world’s richest nations rose in January for the first time since July
The size of the issue and its price is still to be decided
“Despite the supply adjustment, stocks have continued to rise”, OPEC said
The deal is a side agreement to a long term-contract PGNiG and Qatargas signed in 2009
OPEC members will meet on May 25 to discuss a possible extension
PwC will analyse and forecast current and future demand for power
Khalid Al-Falih said investment was needed as the transition away from hydrocarbons would take “a long time”
Kuwait’s oil minister said Saudi Arabia had cut more than required to increase confidence in the output deal
Dragon Oil’s new board of directors was appointed in January this year
The company is evaluating different stock exchanges
The Saudi government plans to sell up to 5 per cent of Aramco next year
A consortium of Japan’s Marubeni and China’s JinkoSolar Holding won the bid to build and operate the 1,177MW plant
The global forecast for oil demand stands at 1.5 million barrels per day in 2017
The 126,000 barrels per day (bpd) crude oil refinery will be closed from March 1 for 80 days
Crude oil prices are currently trading at around $56 a barrel
The government wants domestic fuel prices to be on a par with international levels by 2020
Petrol prices are up by an average of 1.5 per cent compared to February
The plant will be part of Malaysia’s Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang
The new substations will be built over the next three years
The Saudi government plans to list up to 5 per cent of Aramco next year
Adherence to the oil output cut is running at more than 90 per cent among OPEC participants
Demand is set to outpace supply on average, finds BoFA report