Oil and Gas
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Arabian Drilling Co announces IPO, valued at $1.4 billion
One of the biggest oil and gas drilling companies in Saudi Arabia, Arabian Drilling Co., has declared its intention to…
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Saudi Aramco’s profit surges 90%, reports record $48.4bn quarterly profit
On Sunday, Saudi oil company Aramco reported a staggering 90% increase in second-quarter net profits and record half-year earnings, as…
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Aramco opens research hub for ‘developing low-carbon solutions’
The Saudi Arabian Oil Company (“Aramco”) opened the Aramco Research Center at KAUST (ARC KAUST), which intends to speed the…
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Indonesia lifts Palm Oil ban after considering improvements in domestic supply and prices
Indonesian President Joko Widodo said on Thursday that Indonesia will relax its restriction on palm oil exports on Monday, citing…
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Middle East pushes toward renewables to reduce dependency on oil-economy
Many Middle Eastern economies rely on fossil fuels to finance their budgets and sustain economic activity. The Middle East produces…
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Saudi Aramco reports greatest earnings since its 2019 IPO as oil prices surge
As global oil and gas prices continue to rise, profits at the state-owned energy company, Saudi Aramco increased by 82%…
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Global chip shortage hurts tech and automotive industry alike
Due to a persistent shortage of chips and other essential ingredients, some of the world’s largest tech and automotive businesses…
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Russia Company Holds Gas Supply to Poland and Bulgaria over Rouble Payments
Gazprom, a Russian energy company, said today that it had cut off gas supplies to Bulgaria and Poland for failing…
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Oil inflation might be a boon to the Middle East, but leaves other countries to deal with social unrest
Energy costs have risen faster than projected, and certain supply chain disruptions caused by the pandemic were expected to last…
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Volvo Cars and SSAB jointly test fossil free steel
The Swedish multinational manufacturing company Volvo Cars and SSAB jointly test fossil free steel for the use in automotive industry.…
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