Russia says Saudi Arabia proposed oil output cuts by up to 5 pct
Russian Energy Minister Alexander Novak said on Thursday that Saudi Arabia had proposed that oil producing countries cut oil production by up to 5...
Qatar forecasts $12.77 billion budget deficit
Energy-rich Qatar has forecast a budget deficit of more than $12 billion in 2016, citing a sharp drop in oil and gas prices, local...
Saudi inventors win seven medals at iENA-2015 expo
Saudi inventors made a mark in an international exhibition, winning seven medals including two gold, three silver and two bronze for their brilliant innovations.
Their...
Oil prices resume decline in Asia
Oil prices resumed their decline in Asia on Wednesday, with global crude oversupply continuing to dampen investors' sentiment despite occasional rallies.
Prices had risen the...
Oil in 'tumultous' week after output freeze deal
The oil market was gripped this week by an output freeze deal between the world's top two producers Saudi Arabia and Russia.
Prices initially rebounded...
Saudi Arabia to raise domestic petrol prices by 'up to 40%'
Saudi Arabia will raise domestic petrol prices by up to 40 per cent, AFP has reported, citing the kingdom's state press agency, SPA.
Initial reports...
Citigroup earnings jump despite energy hit
Citigroup reported a big jump in fourth-quarter earnings as much lower expenses offset a hit to results due to weakness in energy-sector loans.
Earnings were...
Saudi King Salman is committed to diversifying the economy
Saudi King Salman said on Wednesday the kingdom was committed to implementing programmes to diversify sources of income in order to reduce its dependence...
Domestic focus may limit clout of $2 trillion Saudi fund
Saudi Arabia aims to create the world's biggest sovereign wealth fund, a $2 trillion behemoth that can throw its weight around global markets, but...
Saudi energy minister: Oil market heading toward a balance, prices settling
The energy minister of Saudi Arabia, the world's largest oil exporter, and the secretary general of OPEC agree that the global oil market is...
