Saudi Aramco raises record $25.6 billion in IPO as OPEC members hash out a deal
09 December 2019 | 6:36 am
Saudi oil giant Aramco raises $25.6 billion in the world's biggest ever IPO, beating a record set by Alibaba in 2014. Meanwhile, OPEC members meet in Vienna to discuss cutting oil production by a further 500,000 barrels a day - more than previously expected.
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Following the removal of the fuel subsidy on May 29 by President Bola Tinubu. Prices of goods and services have largely increased with several businesses struggling to keep the door open. GuardianTV stepped out today to check in with Nigerians to see if they've gotten used to the new normal and this was what they had to say.
Less than a week after the Wagner Group's attempted coup, uncertainty reigns in Russia. Opponents of Vladimir Putin are considering other threats to his leadership, including the economy. The oil price is a major hitch.
In spite of an agreement struck in April to cut production of crude by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, oil prices still haven't seen a boost. In this edition, we see that concerns over global economic growth are outweighing the production cuts. Also, European space rocket Ariane 5 gears up for its final lift-off and Singaporean bank UOB makes a winning bet on Taylor Swift fans.
Fresh figures have shown the extent of the European Union's efforts to reduce its energy dependency on Russia, with Moscow accounting for just 3 percent of the bloc's oil imports in the first quarter of this year, compared to 26 percent during the same period in 2022. The EU has also moved away from Russian natural gas, relying more heavily on Norway, the UK and Algeria. This comes as the decline in Moscow's export revenues weakens its currency.
Following the receipt of credible intelligence, a Private Security Contractor engaged by NNPC Ltd., Messrs. Tantita Security Services, intercepted a suspicious Vessel with a Cargo of Crude oil on board on July 7, 2023.
Angola is rich in crude oil but has to import the fuel it needs. A new refinery could change that.
The UN says it has begun an operation to pump 1 million barrels of oil from a rusting supertanker off Yemen's coast, hoping to avoid an environmental disaster that could devastate local ecosystems and major ports.
The UN said over 1 million barrels of oil have been removed from the tanker, off Yemen's Red Sea coast. For years, the UN and other organizations had sounded the alarm over the dangers surrounding the corroding vessel.
Youth plaintiffs have won a rare victory against a US state government for promoting climate-killing fossil fuels. A tsunami of climate-related lawsuits are set to follow.
Find these stories and much more when you grab a copy of The Guardian on Thursday.
Ecuadorians have said 'no' to oil extraction in a portion of the Amazon, one of the world's most biodiverse regions, in a referendum hailed as a historic example of climate democracy.
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The New York Times looks at Dubai's particularly fragile position in terms of climate change.
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Cristiano Ronaldo is facing a class-action lawsuit in the US due to promoting Binance, the world's largest cryptocurrency exchange. The plaintiffs claim that his endorsement led them to make loss-making investments and are seeking $1bn in damages.
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More than 1,000 Rohingya Muslims have arrived in Indonesia by boat this month. They have been fleeing Bangladesh's overcrowded refugee camps where conditions have worsened.
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Thanks to a Constitutional Court ruling, Germany's federal budget for this year is now €60 billion short. But closing the gap with new loans is prohibited by the constitution.
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Over 250,000 have died in a single year just from pollution caused by fine particulate matter, with ozone and nitrogen-dioxide also claiming lives, a new EU report has found.
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British Prime Minister Rishi Sunak is welcoming some 200 business leaders to Hampton Court for a forum aimed at boosting foreign investment in the UK. Also, US holiday shoppers seek out deeper discounts as Black Friday continues its move online, and Meta faces accusations of courting users aged under 13 in a US federal lawsuit.
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