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Abu Dhabi National Oil Company (Adnoc) on Thursday announced framework agreement awards valued at $1.94 billion (Dhs7.1 billion) to enable drilling growth.
Quoting Saudi Crown Prince Mohammed Bin Salman, SPA reported that the "transfer of four per cent of Aramco shares to the Public Investment Fund... is part of the kingdom's long-term strategy to support the restructuring of its economy".
Prices will rise by 20% starting on Friday, causing long lines to form at filling stations as the news spread. The new price of petrol will be Rs179.86 per litre and diesel will be Rs174.15, said Ismail in a tweet.