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Aramco's secondary share offering offers a short-term boost to Saudi Arabia's finances as the Gulf kingdom pursues mega-projects (AFP)
BusinessFinanceFuelNewsOil

Saudi Aramco says foreigners grab ‘majority’ of share offering

Oil giant Saudi Aramco said Sunday international investors snatched up bulk of shares in its latest offering, which was set to raise $11.2bn

By Robbie Corey-Boulet9 Jun 2024Agence France-Presse
FILE PHOTO: General view of Aramco's oil field in the Empty Quarter, Shaybah, Saudi Arabia, January 12, 2024. REUTERS/Hamad I Mohammed/File Photo
EconomyFuelNewsOilPoliticsTrade

Saudi Arabia’s Q1 oil activities down 11.2%, GDP shrinks estimated 1.7% y/y

Saudi Arabia's Q1 GDP shrank 1.7%y/y, preliminary government data showed on Sunday, as a decline in oil activities weighs on growth

By Reuters9 Jun 2024Reuters
FILE PHOTO: An employee rides a bicycle next to oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo
BusinessFinanceFuelLiquefied Petroleum GasNewsOil

Over half of Aramco share sale allocated to foreign investors – sources

Saudi Arabia placed over half of an $11.2bn share sale in Aramco with foreign investors, sources said Saturday

By Maha El Dahan8 Jun 2024Reuters
Solar panels in the northern town of Boundiali in Ivory Coast stretch across 36 hectares (89 acres) (AFP)
ClimateEconomyElectricityEnvironmentLegislationNewsPoliticsRegulationsSolar

Ivory Coast bets on solar in clean energy drive

Ivory Coast has pledged to increase its renewable energy to 45%, including 9% solar, and to reduce its greenhouse gas emissions by 30%

By Marietou BÂ7 Jun 2024Agence France-Presse
FILE PHOTO: Turkey's Vice President Cevdet Yilmaz speaks during a press conference to unveil a savings measures package in Ankara, Turkey, May 13, 2024. REUTERS/Umit Bektas/File Photo
BusinessClimateEmissionsLegislationNewsPoliticsRegulations

Turkey to implement national emissions-trading system soon, vice president says

Turkey will soon implement a national emissions-trading system in line with the EU Green Deal, Turkish VP Cevdet Yilmaz said on Friday

By Reuters7 Jun 2024Reuters
FILE PHOTO: General view of Aramco's oil field in the Empty Quarter, Shaybah, Saudi Arabia, January 12, 2024. REUTERS/Hamad I Mohammed/File Photo
BusinessFinanceFuelNewsOilPoliticsTrade

Saudi Arabia set to raise $11.2bn in Aramco lower priced share offer

Saudi Arabia is poised to raise more than $11.2bn from its secondary offering of oil giant Aramco's lower priced shares

By Maha El Dahan, Hadeel Al Sayegh and Yousef Saba7 Jun 2024Reuters
FILE PHOTO: Gas flares are seen at the state-owned oil company PDVSA, in Punta de Mata, Venezuela April 5, 2023. REUTERS/Leonardo Fernandez Viloria/File Photo
ClimateEmissionsEnvironmentLegislationNewsPoliticsRegulations

West African nations call for firms to be able to offset carbon

A group of West African countries has weighed into a debate over whether companies should be allowed to use carbon offsets to cut...

By Virginia Furness5 Jun 2024Reuters
FILE PHOTO: People shop ahead of the holy month of Ramadan at the Mall of the Emirates in Dubai, United Arab Emirates, March 22, 2023. REUTERS/ Abdel Hadi Ramahi/File Photo
BusinessEconomyFinanceNewsPolitics

UAE’s non-oil business growth retains slower pace in May, PMI shows

Capacity constraints weighed on non-oil business activity in the UAE in May with output growth at its slowest in 16 months

By Reuters5 Jun 2024Reuters
Nigerians are facing the worst cost-of-living crisis in a generation, with double-digit inflation leaving many struggling to afford food (AFP)
EconomyElectricityLabourNewsPoliticsTransmissionUtilities

Nigeria union strike shuts power grid, schools, disrupts flights

Unions in Nigeria are also protesting an electricity tariff hike and there have been widespread blackouts after the Transmission Company of Nigeria said...

By AFP3 Jun 2024Agence France-Presse
IATA Director General Willie Walsh speaks during an interview with Reuters in Dubai, United Arab Emirates, June 2, 2024. REUTERS/Amr Alfiky
AviationClimateEmissionsNewsTransport

No need to reduce aviation growth to hit net zero, IATA head says

The head of the global airline body IATA said there was no need to reduce growth in global aviation in order to meet...

By Reuters3 Jun 2024Reuters

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FILE PHOTO: Republican presidential nominee and former U.S. President Donald Trump and Ukraine's President Volodymyr Zelenskiy meet at Trump Tower in New York City, U.S., September 27, 2024. REUTERS/Shannon Stapleton//File Photo

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FILE PHOTO: European Union flags fly outside the EU Commission headquarters in Brussels, Belgium September 19, 2019. REUTERS/Yves Herman/File Photo

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FILE PHOTO: Oil pumpjacks and tanks are pictured in a farmer's field near Kindersley, Saskatchewan, Canada September 5, 2024. REUTERS/Todd Korol/File Photo

US oil imports from Canada hit record ahead of tariff threat, EIA data shows

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