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ACWA Power starts operations at $1.1bn water and power plant in Bahrain
Saudi Arabia’s ACWA Power Co. announced the start of phase 2 operations at $1.1-billion independent water and power plant located at Al Dur in Bahrain.
The plant has the capacity to generate 1,500 megawatts of power and 227,000 cubic…
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Saudi-US trade hits $24.7bn in 2021 as non-oil exports see record high
The trade volume between Saudi Arabia and the US reached SR92.5 billion ($24.7 billion) in 2021, an increase of 22 percent from 2020, as non-oil exports from the Kingdom to the US witnessed a record high, a report showed.
This increase…
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Muscat and Tehran sign deals to develop gas pipelines, oil field
Oman and Iran signed deals to develop two gas pipelines and an oil field along their maritime border, Oman’s energy minister said Saturday, less than two weeks after Iran’s president visited the sultanate.
The visit by Iranian President…
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Elon Musk: I have a very bad feeling about the economy and I want to cut 10% of “Tesla”…
Elon Musk, Tesla's chief executive, said he had a "very bad feeling" about the economy and wanted to cut 10 per cent of jobs at the company.
According to "Reuters", this came in an email sent by the American billionaire to the company's…
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Oil prices fall on the back of the “OPEC +” meeting
Global oil prices fell on Friday afternoon by about 1%, as markets continue to assess the outcome of the "OPEC +" meeting.
As of 12:46 Moscow time (09:46 GMT), the price of Brent crude futures for August decreased by 0.7%, to $ 116.8 a…
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US strategic oil reserves fall to their lowest level since June 1987
The U.S. Strategic Petroleum Reserve for the week ending May 27 fell by 5.4 million barrels to 526.6 million, according to a weekly review by the country's Energy Information Administration.
Thus, the index reached its lowest level since…
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What does the “OPEC +” agreement to boost oil production mean… Has Saudi Arabia…
The Organization of the Petroleum Exporting Countries and its allies agreed today, Thursday, to accelerate oil production in July and August, in what some see as a Saudi response to American pressure to calm bloated crude oil prices, but…
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European attempts to ban Russian oil imports… France calls for maintaining dialogue with…
In the first session of the Brussels summit, the leaders of European countries reached an agreement that provides for a partial embargo on Russian oil imports, according to what the President of the European Council, Charles Michel,…
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“Gazprom” will stop gas supplies to two European companies as of tomorrow
Gazprom announced today, Tuesday, that, starting from tomorrow, June 1, it will stop deliveries to Shell Energy Europe in Germany and to Denmark's Ørsted, for not receiving payments from them by the end of today, May 31 .
And the company's…
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Gold slips; Wheat falls; Copper hits 3-week high
Gold prices fell on Tuesday as US bond yields firmed and the dollar strengthened, with bullion heading for a second straight monthly loss for the first time since March 2021.
Higher US 10-year Treasury yields lower the appeal of…
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