Oil tanks seen at the Saudi Aramco headquarters in Damam. Reuters
Saudi Arabia raised the local price for Octane 95 to 2.10 riyals from 2.02 riyals last quarter and Octane 91 to 1.44 riyals from 1.37 riyals per litre, state oil firm Saudi Aramco said on Saturday. The change goes into effect on Sunday (April 14), the company said in a statement,
'The attack was launched from the north and was unquestionably sponsored by Iran,' Al-Malki told journalists
Saudi's oil production from its Khurais plant is now at more than 1.3 million barrels per day, while current production from its Abqaiq plant is at about 3 million bpd, the source said.
Institutional investors have put in 144.1 billion riyals ($38.4 billion) worth of bids for Saudi Aramco’s planned initial public offering (IPO), equivalent to more than twice the number of shares on sale, financial advisers for the IPO said on Monday.
Opec and allied nations agreed on Saturday to extend a production cut of nearly 10 million barrels of oil a day through the end of July, hoping to boost energy prices hard-hit by the coronavirus pandemic.
G20 members and invited countries have pledged more than $21 billion to fight COVID-19 and, with a spirit of solidarity, have shown they will spare no effort to protect lives and the most vulnerable.
Emaar chairman Mohamed Alabbar has told the UAE’s leading contractors that they must prepare for a new way of working as the economic activity gradually starts to pick up.