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Crown Prince Mohammed bin Salman said move was part of efforts to recalibrate the oil-led economy Saudi Arabia has transferred shares worth $80bn to its sovereign wealth fund as the oil-rich nation hopes to rival Norway and Singapores state-managed funds and invest in green projects . Crown Prince Mohammed bin Salman, Saudi Arabias de facto ruler, said 4% of shares in Saudi Aramco, the worlds biggest oil exporter, would be transferred to the kingdoms sovereign wealth fund as part of efforts to recalibrate the oil-dominated economy. Continue reading

RIYADH: Saudi Arabia has moved four percent of Aramco shares worth $80 billion in the worlds biggest oil exporter to the kingdoms sovereign wealth fund, authorities said yesterday. Crown Prince Mohammed bin Salman announced the move as part of efforts to recalibrate the oil-dominated economy. The transfer is also the latest sign that Saudi Arabia

Tribune Online NCDMB to launch $50m fund for oil industry manufacturing The Nigerian Content Development and Monitoring Board (NCDMB) has secured approval to launch a $50 million fund for Nigerian Oil and Gas Parks (NOGAPS) Manufacturing Product Line. The fund would be dedicated to companies that would operate in the Nigerian Oil and Gas Parks and engage in the manufacturing of equipment components used in the [] NCDMB to launch $50m fund for oil industry manufacturing Tribune Online

CAMARILLO, Calif. (AP) The average U.S. price of a gallon of regular-grade gasoline spiked 15 cents over the past three weeks to $3.55 per gallon. Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that the price jump came after a rise in crude oil costs. Nationwide, the highest average price for regular-grade gas is in the San Francisco Bay Area, at $4.75 per gallon. The lowest average is in Houston, at $3.05 per gallon. According to the survey, the average price of diesel is $3.91 a gallon, up 21 cents over three weeks.

Sahara Group has given a statement saying it is targeting an additional $1bn investment in LPG infrastructure . The company said this during the flag-off of a 16.7-kilometer Ikpako-Ajoki Road project in Edo State by the Nigerian National Petroleum Company Limited, Enageed Resources Limited, a Sahara Group upstream company, and also the Edo State Government. The road project cuts across the oil and agrarian communities, namely Obatan, Evbuorokho, Ajoki, Abala, Kolokolo, and Ajamokha, in Ovia North East and Ikpoba-Okha local government areas. Continue reading Sahara Group Eyes $1bn Investment In Infrastructure at BizWatchNigeria.Ng.

Riyadh (AFP), Feb 13 - Saudi Arabia has moved four percent of Aramco shares worth $80 billion in the world''s biggest oil exporter to the kingdom''s - Kenya breaking news | Kenya news today | Capitalfm.co.ke

KARACHI: Rupee slipped 0.13 percent (-23 paisas) against the US dollar last week despite recent inflows from the International Monetary Fund. The rupee slipped from 174.48 to 174.71 against the American currency in the interbank market last week after registering a strong recovery in the preceding week. The local unit has appreciated by Rs1.80 during [] The post Surging oil prices, strong dollar may keep rupee under pressure appeared first on Pakistan Today .

The greenfield factory hopes to cash in on the big push blending of ethanol with petrol has received from the union budget. The demand for ethanol is expected to go up as petrol, not blended with ethanol, will attract an additional impost of Rs 2 per litre from October.

Momentum shift away from fossil fuels will continue.

(Bloomberg) --

Saudi Arabia has moved four percent of Aramco shares worth 80 billion dollars in the world''s biggest oil exporter to the kingdom''s sovereign wealth fund, authorities said Sunday. Crown Prince Mohammed bin Salman, Saudi Arabia''s effective ruler, announced the move as part of efforts to recalibrate the oil-dominated economy. The transfer is also the latest sign that Saudi Arabia wants to open up the oil giant and "crown jewel" of the Saudi economy.

RIYADH: Saudi Arabia is to see an increase in its oil revenues following the transfer of 4 percent of Aramco''s shares to the Kingdom''s sovereign wealth fund, according to Al Rajhi Capital''s estimates. The Kingdom is now expected to report a surplus of SR125 billion this year on higher oil income, up from SR90 billion ($40 billion) estimated earlier by the government. The

Is Pamela Anderson being violated all over again by the re-telling of a scandal from the 1990s? Does this happen to every generation? Where a cultural moment that, during our adolescence appeared deliciously shocking, is revealed to us in adulthood as, at best troubling, at worst a grim representation of how the world is cracked down the middle, a thick and low-humming oil dripping from its wound? I realise now what a naive girl I must have been, to have accepted without daily outrage such clumsy horrors as the medias addiction to Amy Winehouses addictions and Britney Spearss breakdown, and I choose naive rather than cruel, because this week has been tough enough. But today, entering middle-age tired and thoughtful, I remain grateful for the ongoing trend for films and TV shows produced as correctives to those decades of casual cruelty, partly for the answers they give, and partly for the questions they leave me with. Continue reading

Naija News looks at the top happenings making headlines on the front pages of Nigerias national newspapers today Sunday, February, 13th 2022. Three persons were confirmed dead and about four others including a security guard and construction workers were reportedly trapped on Saturday after a three-storey building under construction on Akanbi Crescent, in the Yaba area of Lagos collapsed. Sunday PUNCH learnt that a worker, identified only as Sunday, was rescued from the rubble. With the Federal Governments legacy Railway Modernisation project, among other infrastructure, largely financed by loans from China, the hopes of millions of Nigerians looking forward to the ease that the project would bring to livelihoods and its impact on the economy when completed, may be dashed, The Guardian reports. According to Vanguard , fresh indications, emerged, yesterday, that shortage of petrol in the country has worsened as many filling stations decided to shut their doors against motorists and other buyers in Abuja as well as Lagos, Oyo and Ogun states.

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".