Saudi Arabia announced a multi-billion dollar investment plan to develop the Al-Jafoura Field in the Eastern Province, which holds trillions of gas resources in the vast reserves The Higher Committee for Hydrocarbons, in a meeting chaired by Crown Prince Mohammad Bin Salman, revealed plans to develop the Al-Jafoura Field, which is
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Oil falls over 2% on concerns over economic toll from virus
BENGALURU - Oil prices slid more than 2% on Friday as investors fretted about crude demand being pinched by the economic impact of the coronavirus outbreak, while leading producers appeared to be in no rush to curb output. The latest signs of infections outside the Hubei province epicentre spurred a selloff
Global watchdog places Iran on terrorism financing blacklist
Paris - A global dirty money watchdog on Friday placed Iran on its blacklist after the country failed to comply with international anti-terrorism financing norms. The decision comes after more than three years of warnings from the Paris-based Financial Action Task Force (FATF) urging Tehran to enact terrorist financing conventions. However, the
Oil prices rise on U.S. gasoline stock draw, smaller-than-expected gain in crude inventories
Oil prices rose further on Thursday after a U.S. report showed a draw in gasoline inventories and a much smaller-than-anticipated rise in crude stocks. U.S. gasoline stockpiles USOILG=ECI fell by about 2 million barrels in the week to Feb. 14, while analysts had estimated an increase of 435,000 barrels, according to
