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Amir Nasser, general director of Saudi Arabia's state oil company, said in an interview with CNBC that the IPO of the oil giant was postponed indefinitely due to Saudi Aramco's plans to acquire a controlling stake in the petrochemical company Saudi Basic Industries. At the same time he noted the commitment of the Saudi government to the IPO, within the framework of which it is planned to raise $100 billion. Earlier, Saudi Energy Minister Khalid al-Falih denied rumors about Saudi Arabia's refusal of the Aramco listing plans.
The Warner Music Group Corp. (WMG.O) got off to a positive start on its Nasdaq debut on Wednesday. The world’s third-largest recording label sold shares worth $1.9-billion, marking the largest initial public offering in the United States ...
Oil futures gained on Tuesday, lifted by Saudi Arabia’s deeper production cuts to buoy prices amid the supply glut and weak demand. Brent crude futures rose 0.8%, or 24 cents, at $29.87 per barrel. U.S. West Texas Intermediate crude ...
U.S. President Donald Trump announced that his administration was considering halting crude oil shipments from Saudi Arabia to help the local drilling industry. At a daily news conference, Trump said that his administration will “look ...
Despite having a strong financial condition with low debt obligations, the Kingdom of Saudi is still struggling from the current worldwide crisis according to its Finance Minister Mohammed Al-Jadaan on Friday. Al-Jadaan said the priorities ...
Oil prices rose in Asia on Friday after Russia and Saudi Arabia signaled additional output cuts in a joint statement. Russian Energy Minister Alexander Novak and his Saudi counterpart Prince Abdulaziz bin Salman both expressed willingness ...
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