#energy

Russia sees oil market balance in June-July on OPEC+ cuts

Producers have lowered global oil supply by around 14-15 million barrels a day

Oil anchored near $33 a barrel amid rising US-China tensions

Oil has surged about 75 per cent this month as pockets of demand return

Saudi Aramco is first oil major to regain pre-price-war share price

Aramco’s recovery has been achieved on much smaller share volumes than its international counterparts

Oil rises above $30 for first time in two months on output cuts

There’s still a risk, however, that oil’s recovery could be derailed if the pandemic worsens

OPEC chief optimistic that the worst of oil crisis is over

OPEC+ will look at all options when it meets again in June, Mohammad Barkindo said

IEA head sees oil use below pre-virus levels for at least a year

Crude demand of about 100 million barrels a day prior to the pandemic plummeted by about 30 per cent last month

Oil edges higher on recovery signs while Saudis flag deeper cuts

Saudi Arabia aims to pump just under 7.5 million barrels a day in June, compared with an official target of about 8.5 million a day

Saudi Aramco seeks to restructure $69.1bn SABIC deal

Aramco is weighing pushing out payments for the 70 per cent holding in SABIC and reducing the size of the initial installment to PIF

Mideast Petro-States look past oil rout to chase solar power

Prices for benchmark Brent crude have slumped 52 per cent this year, falling far below levels that most governments in the region need to balance their budgets

Oil anchored near $24 on lingering concerns about global glut

US crude stockpiles rose for a 15th week, although at a slower pace, while supplies at the Cushing storage hub expanded

Renewables are the only winners in historic decline in energy demand

While all sources of energy — oil, coal, natural gas, and even nuclear — will see a decline, renewable energy is likely to be the bright spot

UAE petrol prices for May declared

Super 98 petrol will cost Dhs1.91 per litre, while Special 95 is priced at Dhs1.80 per litre

Abu Dhabi’s ADPower solar project receives world’s lowest tariff bid

The 2GW Al Dhafra Solar PV project is slated for completion in the second quarter of 2022

Saudi Arabia’s ACWA Power plans to raise up to $1bn

The company is in talks with local banks about the potential deal that would be denominated in Saudi riyals

Saudi set to sell 600,000 barrels a day of oil to US in April

The figure marks the highest volume in a year

Oil touches 18-year low as virus-led demand shock outweighs output cuts

Global demand will drop by more than 9 million barrels a day in 2020, according to the IEA

Oil price war ends with historic OPEC+ deal to cut output

The accord caps a tumultuous month when Brent crude plunged to its lowest in nearly two decades, falling toward $20 a barrel

Saudi Aramco delays oil pricing statement as OPEC+ talks continue

Benchmark Brent has plunged by more than half since the start of the year

Aramco delays oil pricing amid Saudi-Russia row on oil cuts

Benchmark Brent crude has plunged 48 per cent this year

Aramco keeps $75bn dividend promise even with oil’s plunge

The kingdom needs an oil price of $84 to balance this year’s budget

Saudi Arabia’s Aramco to pump 12.3 million bpd in April

It puts Aramco supply above its maximum sustainable capacity, indicating that the kingdom is even tapping its strategic inventories

Aramco international listing ‘still on the cards’ – minister

The oil giant raised $29.4bn in the world’s biggest-ever initial public offering, selling shares at 32 riyals each

World’s biggest IPO just got bigger: Saudi Aramco IPO at $29.4bn

Goldman Sachs Group, one of the underwriters of the deal, exercised the over-allotment option and increased the offering

Saudi Aramco crosses the $2 trillion mark on Thursday

On the second day of trading on Riyadh’s stock exchange, Saudi Aramco briefly soared past the target

UAE VP announces visa for retired expats, reduced power charges for industry

The country previously announced plans to introduce a 10-year visa for investors

Revealed: Top 10 companies in Bahrain in 2017

The biggest listed companies in Bahrain by market capitalisation

Revealed: Top 100 GCC Companies 2016

The biggest listed companies in the Gulf region

Revealed: Top 10 companies in Qatar in 2016

The biggest listed companies in Qatar as ranked by market capitalisation

Dana Gas profit jumps following arbitration case

Dana Gas profit jumps following arbitration case

Gross revenue decreased 39 per cent

Top 10 Countries With The World’s Biggest Oil Reserves

South American nation Venezuela tops the list, followed closely by Saudi Arabia.