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RIYADH: Energy-giant Saudi Aramco on Sunday said it had transferred four percent of its shares to the kingdom''s Public Investment Fund, the state news agency SPA reported. Saudi Arabia raises March crude prices to Asia Quoting Saudi Crown Prince Mohammed bin Salman, SPA reported that the "transfer of four percent of Aramco shares to the Public Investment Fund is part of the kingdom''s long-term strategy to support the restructuring of its economy".

Wall Street drops, oil prices jump on Ukraine conflict worries

The announcement on the state-run Saudi Press Agency comes as the oil firm is valued at just under $2 trillion and as oil trades above $90 a barrel - its highest level since 2014.

The EIA Petroleum Status Report is a weekly published report which details reserves and output for U.S. crude and crude-based products.

The International Monetary Fund (IMF) has warned that Nigerias decade-long rise in public debt could create both financial as well as revenue squeeze for the economy in the medium term. The Funds mission chief for Nigeria, Jesmin Rahman in the IMF/Nigeria 2021 article IV consultation staff press conference stated that though the countrys current debt dynamics at the moment seem favourable as it still resides within the 30 percent threshold, its trajectory, however, would become a major economic concern in the medium term. Public debt threshold for emerging markets stand at 10 percent; however, Nigeria currently spends above 80 percent to service its debt. Recent estimates indicate that public debt is to increase from 36 percent to 40 percent in the medium term. Should this happen, it is going to become a major cause for concern for the Nigerian government, she said. Debt servicing for Nigeria since the oil decline in 2020 has been dependent on CBN overdraft and Eurobond subscriptions.

The Russia-Ukraine crisis has put the energy market on high alert for possible disruptions of Russian energy supplies to Europe. While most of the talk and headlines focus on a potential disruption of Russian pipeline gas exports to Europe, a significant decline in Russian crude and oil product exports westwards to Europe would also have a devastating effect on the energy supply in Europe, which is already grappling with a gas and power crisis. A plunge in Russian oil exports to Europe would also be a very bullish factor for oil prices, which could

The African Energy Chamber spoke to Impact Oil & Gas CEO, Siraj Ahmed, about increasing oil production across the African continent, low carbon gas monetization and pending deals that should be concluded at the upcoming African Energy Week, taking place in Cape Town on 18-21 October Despite being blessed with abundant oil and gas resources, [] The post Powering African Countries with domestic gas is advantageous than importing Liquefied Natural Gas (LNG) appeared first on The News Chronicle .

The US is withdrawing nearly all of its remaining soldiers from Ukraine, the Pentagon announced on Saturday, as tensions soar over a possible Russian invasion of the eastern European country. Defence Secretary Lloyd Austin has ordered the temporary repositioning of the 160 members of the Florida National Guard who were in the country, advising and mentoring Ukrainian forces, Pentagon spokesperson John Kirby said in a statement. The troops who Kirby said were being withdrawn with the safety and security of our personnel foremost in mind will be repositioned elsewhere in Europe. Since 2015, reservists from the US National Guard have been advising and training Ukraine''s army alongside soldiers from other North Atlantic Treaty Organisation (Nato) countries, notably Canada and Germany. This repositioning does not signify a change in our determination to support Ukraine''s Armed Forces, but will provide flexibility in assuring allies and deterring aggression, Kirby said. Putin-Biden phone call Meanwhile, Russian President Vladimir Putin and US President Joe Biden held a high-stakes telephone call as a tense world watched and worried that an invasion of Ukraine could begin within days.

MCX Futures likely to rally past 7,000

WASHINGTON, D. C.: The United States dramatically raised the alarm Friday (Saturday in Manila) over Ukraine, warning that a Russian invasion starting with civilians caught under aerial bombing could begin in days and telling US citizens to leave within 48 hours. An attack by the more than 100,000 Russian troops currently massed next to Ukraine "could occur any day now," White House National Security Advisor Jake Sullivan told reporters in Washington. Dismissing speculation that the Kremlin would never trigger the crisis while the Beijing Olympics were still underway in close Russian ally China, Sullivan said such an attack "could occur" before the Games end on February 20. The scenario of an imminent attack is "a very, very distinct possibility," Sullivan said. While stressing that it was not yet known whether President Vladimir Putin had taken a decision, saying "we can''t predict the exact determination," Sullivan made clear that the United States was bracing for the worst, including a "rapid assault" on the capital Kyiv. "If a Russian attack on Ukraine proceeds, it is likely to begin with aerial bombing and missile attacks that could obviously kill civilians," he said. "Any American in Ukraine should leave as soon as possible, and in any event in the next 24 to 48 hours." Sullivan spoke shortly after President Joe Biden and six European leaders, the heads of NATO and the European Union held talks on the worst crisis between the West and Russia since the end of the Cold War.

The price of West Texas Intermediate (WTI) opened 2022 at about $75 a barrel (bbl). Last week, the price rose above $90/bbl for the first time since 2014. That was also the last year the price of WTI was above $100/bbl. To recap, in the first half of 2014, oil prices spent most of the time bouncing between $100/bbl and $105/bbl. But the shale boom had put millions of new barrels of oil into the markets over the course of several years, and by mid-2014 the market was approaching an over-supply situation. The price of oil started to decline, but

These three oil and gas stocks all look incredibly enticing at today''s prices.

Jill Halliburton Su, a member of the Halliburton oil dynasty, was stabbed to death in her luxe Davie, Fla., home in 2014. Dayonte Resiles is now facing a second murder trial in connection with the case.

Last week, rival oil giant Shell also reported profits of $19bn on the same day that the energy regulator Ofgem announced UK householders would see a 54 percent rise in their domestic energy bills in April. CEO, Dutchman Ben van Beurden, 63, saw the value of his shares in the oil and gas giant rise [] Diesel prices hit record high of more than £1.51 per litre for first time in history

Russian President Vladimir Putin is set to speak with his US and French counterparts on Saturday after the United States warned that Moscow could invade Ukraine in days. The United States had dramatically raised the alarm over Ukraine on Friday, saying a Russian invasion starting with civilians caught under aerial bombing could begin in days and telling US citizens to leave within 48 hours. In a diplomatic flurry to head off a possible invasion, Putin will speak with Joe Biden and Emmanuel Macron on Saturday. US Secretary of State Antony Blinken said he will also speak to Russian counterpart Sergei Lavrov the same day, terming this a pivotal moment in the crisis and that his government was prepared for whatever should happen. We continue to see very troubling signs of Russian escalation, including new forces arriving around Ukraines borders, Blinken said at a press conference in Fiji. If Russia is genuinely interested in resolving this crisis of its own making through diplomacy and dialogue, were prepared to do that, he said.