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Newly appointed Saudi Energy Minister says aiming for Aramco IPO as soon as possible

The company is meeting banks pitching for roles on the deal this week, and is expected to appoint the advisers in the coming days. The IPO is a centrepiece of Saudi Arabia's economic transformation drive to attract foreign investment and diversify away from oil.

Gulf tanker incidents may raise shippers' costs, cut traffic

Many of the 2,000 companies operating ships in the region have ordered their vessels to transit Hormuz only during the daylight hours and at high speed. But only a handful of the companies have halted bookings.


Oil prices rise as Saudi Arabia signals OPEC deal extension

Oil prices jumped after Saudi Energy Minister Khalid al-Falih told a conference in St Petersburg, Russia, that $60 a barrel was too low to encourage investment in the industry. Crude later pared gains.

Oil falls on trade dispute despite surprise drop in US crude inventories

China is the world's biggest oil importer. An unexpected drop in US crude inventories kept oil price declines in check.

Explained: Volatility in crude prices this week and its impact on the rupee

It was a volatile week for global crude oil prices, and in turn for the Indian rupee which reacts negatively to a rise in crude oil prices and vice-versa.

Rupee tumbles 22 paise against dollar on crude concerns

However, the dollar's weakness against some currencies overseas and a higher opening of the domestic equity markets capped the rupee's losses, a forex dealer said. Fresh dollar demand from banks and importers weighed on the Indian currency, they added.


Explained: Life without Iranian oil

How has India been preparing for the tightening of US sanctions? What key metrics could be impacted? What are the main concerns, and what role are the ongoing elections likely to play in India’s response?

Crude oil set for biggest quarterly price rise since 2009 amid OPEC cuts, sanctions

"While OPEC, and above all Saudi Arabia, appeared in November to be obeying US President Trump's repeated demands to increase oil production, his tweets now are more likely to fall on deaf ears," Commerzbank said in a note.

Saudi Aramco to buy SABIC for $69 billion in one of the biggest deals in global chemical industry

The deal could inject billions of dollars into the PIF, giving it the firepower to proceed with its plans to create jobs and diversify the largest Arab economy beyond oil exports, including a mega business zone in the northwest of the country.

China grants first crude import license to private trading firm

Zhejiang Wuchan Zhongda, a venture between government fund Zhousan Communications Investment Group and Wuchang Zhongda Group, is the first privately owned trading company to receive a crude import license from the ministry.

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Fuel prices at an all-time high: News in Numbers

How the government is explaining the rise in petrol and diesel prices. Take a look in today’s News in Numbers.