Vienna, The price of OPEC basket of fourteen crudes stood at $63.26 a barrel on Tuesday, compared to $64.66 the previous day, according to OPEC Secretariat calculations, WAM reported.The fourteen crudes, from separate OPEC member countries, include a m…
Category: Business
DUBAI, UNITED ARAB EMIRATES – Saudi Arabian oil giant Aramco announced Sunday that its initial public offering raised a record $29.4 billion, more than previously announced, after the company used a so-called greenshoe option to sell millions more shar…
The price of OPEC basket of fourteen crudes stood at $67.26 a barrel on Thursday, compared with $69.60 the previous day, according to OPEC Secretariat calculations.The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Al…
PROVIDENCE, RHODE ISLAND – The global benchmark for crude oil rose above $70 a barrel on Monday for the first time in over three months, with jitters rising over the escalating military tensions between Iran and the United States.The Brent contract for…
Baghdad, The Organization of Petroleum Exporting Countries (OPEC) production decreased last month./ Reuters / reported that OPEC oil production declined in December, in light of more commitment on the part of Nigeria and Iraq to the reductions that wer…
Riyadh, The Council of Saudi Chambers will organize the Saudi-Mauritanian Business Meeting which will be attended by Chairman of the Council of Saudi Chambers Dr. Sami bin Abdullah Al-Obeidi and President of the Mauritanian National Employers’ Union Mo…
Dhahran, Saudi Arabian Oil Company (Saudi Aramco) has completed, through its subsidiary Aramco Overseas Company B.V. (AOC), the acquisition of 17% of Hyundai Oilbank from Hyundai Heavy Industries Holdings, for approximately US$1.2 Billion. The completi…
Riyadh, The Public Investment Fund (PIF) approved today the new composition of the board of directors of Al-Qidiya Investment Company with His Royal Highness Prince Mohammad bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister, President of Co…
A senior U.S. official says Washington’s sanctions against Iran have sharply curbed Tehran’s access to foreign currency, leaving it only $10 billion of accessible reserves to “foment violence and suffering” at home and abroad.U.S. Special Representativ…
Oil edged lower on Friday as investors awaited a meeting of OPEC and its allies later in the day which is expected to formally agree to more output curbs in early 2020.Despite the new cuts, OPEC stopped short of pledging action beyond March and analyst…