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Saudi Arabia to announce slight rise in oil, gas reserves after audit
12 January 2019, 06:59 | Hattie Nash
Aramco to issue 1st ever global bond this year
The Saudi Arabia-based oil and gas giants, Saudi Aramco, is planning to delve into the debt market during the second quarter in order to fund the purchase of petrochemical company, Sabic, in what is set to be its first ever global bond, according to Bloomberg.
Saudi Arabian Minister of Energy Khalid al-Falih revealed the plan on Wednesday in Riyadh, saying that the company wanted flexibility in funding the Sabic deal, which could cost about US$70 billion.
Saudi Arabia had a target to lower output to 10.311 million bpd as of January 1, when the supply cut accord took effect.
The early Thursday decline was "primarily driven by the lack of direction showed in the United States and China trade talks", said independent analyst Lakshan de Silva.
Crude oil prices were slightly down at the start of trading on Tuesday, despite reports that Saudi Arabia cut its crude exports to help boost prices.
In December, the Organization of Oil Exporting Countries made a decision to reduce oil supply by 1.2 million barrels starting January.
Al-Falih played down chatter in the market that Aramco would fund the entire US$70 billion Sabic deal with the bond offering. "We have seen peaks and drops in prices (that are) completely unjustified by the fundamentals".
Natural gas reserves also grew from 302.3 trillion cubic feet (8.56 trillion cubic metres) to 324.4 trillion cubic feet (9.2 trillion cubic metres), the ministry said.
Alien signals? Experts get radio waves from space
Therefore, the signals have remained a mystery, with little evidence at all of where they might be coming from. Chime astrophysicist Dr Ingrid Stairs , from the University of British Columbia , explained its significance.
The country said oil reserves witnessed an increase from 2.2 billion barrels to 263.2 billion barrels while gas reserves increased from 17 trillion cubic feet to 319.5 trillion cubic feet.
Falih said Saudi oil remains among the cheapest in the world to extract, at only $4 a barrel. Falih said on Wednesday the kingdom would still go ahead, and list the company by 2021.
The operation was not fully concluded, so the interest rates have not yet been calculated.
Dramatic rescue of injured skier in French Alps
Tauziet dislocated his knee at high elevation, with some 1,200 feet of icy terrain between his ski crew and any level ground. A rope is dropped down from the helicopter to bring two rescue workers, who had been tending to Bruno's leg, back up.
Marvel's "The Punisher" Season 2 Trailer Is Here
As far as this trailer goes, it's fine, I guess. - The Punisher (@ThePunisher) January 10, 2019Penny and dime. The Punisher is executive produced by Steve Lightfoot along with Marvel TV boss Jeph Loeb and Jim Chory.