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Saudi Aramco, the state-owned oil company of Saudi Arabia, plans to invest about $150 billion in the next 10 years to increase gas production in order to export it further. This was stated by its CEO, Amin Nasser, Reuters writes. It is planned that gas production per day will increase to 23 billion standard cubic feet compared to the 14 billion cubic feet currently mined. He noted that world-class unconventional gas resources in the country, in addition to traditional resources, will be used to develop the chemical sector. Nasser said that Saudi Arabia, which uses gas only in the domestic market, intends to become an exporter of gas.
Oil prices fell on Thursday after OPEC+ agreed to lessen output cuts from August, though the decline was dampened by a recovery in demand as U.S. crude stocks had an unprecedented drop. Brent crude slid 0.3%, or 13 cents, at $43.66 per barrel. ...
Tesla Inc.’s (TSLA) Chief Executive Officer Elon Musk announced on Thursday that Wall Street’s most controversial stock might join the S&P 500 after the company’s market value has risen from $50 billion to more than $250 ...
Berkshire Hathaway Inc.’s (BRK.A, BRK.B) Chief Executive Officer Warren Buffett announced on Monday that its energy unit agreed to purchase the natural gas transmission and storage assets of utility company Dominion Energy Inc. (D.N) ...
Tesla Inc will be manufacturing mobile molecule printers in an attempt to aid Germany’s biotech firm CureVac in developing a potential COVID-19 vaccine, according to a tweet by the electric-car maker’s CEO Elon Musk on Wednesday. CureVac ...
The European aviation Airbus (AIR.PA) announced on Monday that its airplane production and deliveries would be 40% lower for the next two years compared to its planned pre-crisis strategy. The CEO's comments underscore the threat to jobs as ...
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