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Putin backs Saudi over OPEC decision

Russian President Vladimir Putin said on Thursday that Saudi Arabia was taking a tough stance on the output deal between OPEC and its allies because of Saudi Aramco’s initial public offering, but that Moscow respected Riyadh’s interests. Speaking to reporters in Brazil at a summit for BRICS countries, Putin said …

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Marwa al-Khuzaim to head Aramco Asia Singapor

Saudi Aramco, the world’s top oil exporter, has appointed its first woman head of an overseas office, two sources with knowledge of the matter said on Wednesday. Marwa al-Khuzaim will helm Aramco Asia Singapore from December, taking over from Nader al-Arfaj, they said. Al-Khuzaim is currently a supply chain director …

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Iran discovers new 53 billion barrel oilfield

Iran has discovered a new oilfield in the southwest of the country that has the potential to boost its reserves by about a third, President Hassan Rouhani said on Sunday. “Workers and the exploration arm of the National Iranian Oil Company …have found an oilfield with 53 billion barrels of …

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Russia backs Iran’s enrichment plans

Russia’s Foreign Ministry said on Friday that Iran’s latest move to scale back its commitments under the 2015 nuclear deal did not pose a threat to the non-proliferation regime, Interfax news agency reported. Iran said on Thursday it had resumed uranium enrichment at its underground Fordow nuclear plant, stepping further …

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Iran holding UN nuclear inspector

The European Union and United States expressed concern on Thursday over Iran’s holding of an inspector from the U.N. nuclear watchdog last week, with the U.S. envoy to the agency calling it an “outrageous provocation” that must have consequences. Reuters first reported on Wednesday that Iran had briefly held the …

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UN nuclear insecptors heading to Iran

U.N. nuclear inspectors are on the ground in Iran and will report back on relevant activities, an International Atomic Energy Agency spokesman said on Wednesday after Iran said it injected uranium gas into centrifuges at its Fordow site. “We are aware of the media reports today related to Fordow. Agency …

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Saudi Aramco targets Malaysia in IPO bid

Saudi Aramco has approached Malaysian state energy company Petronas to participate in Aramco’s initial public offering (IPO), Petronas said on Wednesday, as the Middle Eastern oil giant seeks cornerstone investors for the listing. The Saudi government plans to sell 2% of state-run Aramco, the world’s most profitable company, in a …

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Saudi Aramco IPO listing to go as planned

Saudi Arabia’s state oil company kick-started its initial public offering (IPO) on Sunday, announcing its intention to list on the domestic bourse as the kingdom seeks to diversify and create the world’s most valuable listed company. SALAH SHAMMA, HEAD OF INVESTMENT, MENA, FRANKLIN TEMPLETON EMERGING MARKETS EQUITY With Aramco likely …

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US renews wavers over Iran sanctions

The United States plans to allow Russian, Chinese and European companies to continue work at Iranian nuclear facilities to make it harder for Iran to develop a nuclear weapon, two sources familiar with the matter said on Wednesday. The Trump administration, which last year pulled out of the 2015 Iran …

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Brazil wants to join OPEC

Brazilian President Jair Bolsonaro said on Wednesday that he wants his country to join OPEC, a move that would add the most significant new producer to the oil cartel for years. The comments come ahead of a massive auction of oil rights in Brazil, which is boosting output rapidly. OPEC …

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Saudi Aramco IPO slotted for December 4

Saudi Aramco aims to announce the start of its initial public offering (IPO) on Nov. 3, three people with direct knowledge of the matter told Reuters, after delaying the deal earlier this month to give advisers time to secure cornerstone investors. The people also said Aramco’s chief executive officer, Amin …

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US prepared to help Saudi nuclear programme

U.S. Energy Secretary Rick Perry said on Saturday that conversations with Saudi Arabia on a nuclear program are going forward. The world’s top oil exporter had said it wanted to use nuclear power to diversify its energy mix. It wants to go ahead with a full-cycle nuclear program, including the …

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US still eyeing Syrian oilfields

The United States is committed to reinforcing its military position in Syria with additional assets to prevent oilfields from being taken over by remnants of the Islamic State militant group or others, a U.S. defense official said on Thursday. The official, speaking on condition of anonymity, did not disclose what …

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Carlyle Group in UAE, seeking Mubadala

Mubadala Investment Company, the Abu Dhabi-based sovereign investor, and global investment firm The Carlyle Group (NASDAQ: CG) today reached completion of the transaction announced on 8 April 2019. Funds affiliated with Carlyle have acquired 37 percent shareholding in Compañía Española de Petróleos, S.A.U,Cepsa, from Mubadala. Mubadala will remain the majority …

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UAE ready for zero-carbon buildings

The UAE is on a firm footing to achieve the commitment to net-zero carbon buildings, backed by its comprehensive approach to green buildings and sustainable development, said Saeed Al Abbar, Chairman of the Emirates Green Building Council, EmiratesGBC, at the Global Alliance for Buildings & Construction panel at the 3rd …

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UAE eager to buy nuclear fuel from Russia

The United Arab Emirates is cooperating with Russia to buy Russian nuclear fuel, state-run news agency (WAM) quoted the UAE’s Minister of Energy and Industry as saying on Monday. “There is cooperation between the two countries to buy Russian nuclear fuel in relation to the UAE’s peaceful program for nuclear …

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Russian investors eyeing Saudi Aramco IPO

A number of Russian investors are interested in a planned initial public offering of Saudi Arabian state-owned oil company Saudi Aramco, Kirill Dmitriev, the chief executive officer of Russian sovereign wealth fund RDIF, told reporters on Sunday. Dmitriev, speaking ahead of Russian President Vladimir Putin’s visit to Saudi Arabia, also …

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Major new gas find in Iran

Iran has discovered a new natural gas field with a 19-trillion-cubic-feet reserve in the southern province of Fars, the Oil Ministry’s website SHANA reported on Sunday. “The new natural gas field is in the southern part of Fars province with 19 tcf gas in place,” SHANA quoted Reza Dehghan, deputy …

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Saudi Arabia pushing cybersecurity in UAE’s GITEX Technology Week

Saudi Arabia’s Ministry of Energy today outlined how it is adapting and maintaining its world-class defense against evolving global cybersecurity threats. “Cyberattacks aimed at disrupting critical infrastructures are becoming more nuanced, advanced and difficult to spot. There can be no compromise when it comes to our defensive posture and we …

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Saudi, Russian oil ministers coordinating policy

The Saudi energy minister on Monday discussed with the Russian minister of economic development cooperation in energy and the stability of global markets, Saudi state news agency (SPA) reported. Prince Abdulaziz bin Salman discussed with Russia’s Maxim Oreshkin “the role of the two countries in the stability of global markets …

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Iran planning new pipeline beyond Gulf

Iran is building a $1.8 billion oil pipeline to its port of Jask outside the mouth of the Gulf, the country’s oil minister said, as part of plans to protect its exports against potential problems in the region and to boost shipments of Caspian oil. Iran has been planning since …

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