Oil prices are trading near to $64 a barrel, close to their highest since 2015
The strong opening eased concerns about demand for the stock last week
The proceeds will be used to support a new programme for lower income households
The spending plan is higher than Aramco’s projection last year of around $334bn
The UAE will hold the presidency of the 14-nation Organisation of the Petroleum Exporting Countries in 2018
OPEC and non-OPEC producers have agreed to extend output cuts until the end of 2018 as they try to clear a global oil glut
The bank warned that rising political tensions in the Middle East could impact supply, despite the improved forecast
Saudi Arabia is wooing Baghdad in an effort to halt the growing regional influence of arch-foe Iran
Russia has been pushing for a clear message on how to exit the cuts
OPEC delegates said the group had agreed to extend the cuts by nine months, as expected by the market
As a first step the group has invested in a 111 MW natural gas-fired power plant in Chihuahua
Saudi Arabia is considering building 17.6 GW of nuclear-fuelled power generation capacity by 2032
Khalid Al Falih told reporters to wait for the results of this week’s OPEC meeting in Vienna
The firm also said it is on track to expand oil production capacity to 3.5 million barrels per day (bpd) by the end of 2018
The partners say the facility would be the largest of its type in the world, as the kingdom looks to diversify beyond crude oil exports
Iraq would export at least 50 million cubic feet of gas per day for 10 years, said Kuwait oil minister
The IPO would be the UAE’s biggest since DP World raised nearly $5bn in 2007
The kingdom would become the second country in the GCC to tap nuclear power after the UAE, which plans to start up the first of four reactors in 2018
The state firm plans to sell at least 10 per cent of its fuel retail unit in an IPO
Abu Dhabi is pushing its state companies to list on the bourse with the hope of luring foreign investors
Aramco had for years been considering whether to shut the refinery because of age and environmental concerns
CNPC holds an 8 per cent interest in Abu Dhabi’s 40-year onshore oil concession
The IEA has cut its oil demand forecast by 100,000 barrels per day
OPEC and other producers are cutting output by about 1.8 million barrels per day until March
ADNOC Distribution is the leading fuel distributor in the United Arab Emirates
Some 361 projects are currently underway, buoyed by steadily increasing oil prices
The plans to increase investment come as Aramco prepares for an international IPO
The kingdom’s energy minister said Aramco was looking at opportunities in the country
The company is raising the financing as part of an overhaul of its capital structure
The sale is expected to raise about $100bn, making it the world’s largest IPO ever