Saudi, Russia outline record oil cut under U.S. pressure as demand crashes
By Rania El Gamal, Olesya Astakhova, Ahmad Ghaddar DUBAI/MOSCOW/LONDON: OPEC, Russia and other allies outlined plans on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis. But the group, […]
Saudi Aramco raises IPO to record $29.4 billion with over-allotment of shares
DUBAI: State-owned oil company Saudi Aramco said on Sunday it has exercised its “greenshoe option” to sell an additional 450 million shares, raising the size of its initial public offering (IPO) to a record $29.4 billion. Aramco initially raised a then-record $25.6 billion in its IPO in December by selling 3 billion shares at 32 […]