OPEC+ oil supply cuts could tip world into recession, IEA says
A decision by the Organization of the Petroleum Exporting Countries and its allies last week to rein in output has driven up prices…
Category: Business & Finance
ACWA Power partners with Kepco to explore green hydrogen, ammonia projects
Saudi Arabian utility firm ACWA Power has signed a memorandum of understanding with Korea Electric Power Corp., known as Kepco, to explore the…
Oil steady as focus turns to US economic data
Oil prices steadied on Friday ahead of key US economic data after rising over 1 percent in the last session on cuts to…
Diriyah Gate, National Housing Co. join efforts to enhance Saudi housing sector
Diriyah Gate Development Authority has signed a memorandum of understanding with the Saudi National Housing Co. to enhance cooperation in common areas that…
Chipmakers weigh on European shares; focus on US jobs data
European shares slipped on Friday, led by semiconductor firms after weak earnings and forecasts from Samsung and Advanced Micro Devices, while recession fears…
Britain launches oil, gas licensing round to boost domestic supply
Britain launched its first oil and gas exploration licensing round since 2019 on Friday to try and boost domestic hydrocarbon output as Europe…
Tawadul Group awards $36.7m contract for fit-out works in new HQ in KAFD
Tadawul Group Holding Co. has awarded a SR137.98 million ($36.7 million) contract for fit-out works to its new headquarters in King Abdullah Financial…
OPEC+ output cut decision to sustain markets, not raise prices: Saudi Energy Minister
Saudi Arabia’s Minister of Energy has insisted an agreement to cut oil production by two million barrels per day was made to sustain…
OPEC+ agrees output cut of 2 million barrels per day despite US concerns
.OPEC+ fell about 3.6 million bpd short of its output target in August Oil prices edged up after the Organization of the Petroleum…