techkenyot.com
techkenyot.com June 26, 2019


Saudi Arabia to announce slight rise in oil, gas reserves after audit

12 January 2019, 06:59 | Hattie Nash

Saudi Arabia to announce slight rise in oil, gas reserves after audit

Saudi Arabia to announce slight rise in oil, gas reserves after audit

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.

Justice Ruth Bader Ginsburg’s recovery is ‘on track’
Prior to this week , she had never missed a day of work in her more than 25 years as a Supreme Court justice. After her operation, President Donald Trump tweeted that he wished Ginsburg "a full and speedy recovery".

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.

Nick Kyrgios cops Milos Raonic in Australian Open first round
He added: "I know this Australian Open is going to be big as well. and I can do a lot better than I've done in the past". With the encounter played in good spirits, Tomic claimed match point when he dished up a freaky trick serve.

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.

Dollar falls for a third day on rate pause bets
The Bloomberg Dollar Spot Index dipped 0.2 percent.The euro bought $1.1415, up 0.2 percent.The pound rose 0.2 percent to $1.2749. The crude benchmark rose 54 cents on Monday to $57.61 a barrel, while US crude futures gained 53 cents to $48.49.



Other News

Trending Now

FDA recalls Kentucky-made sweets for possible hepatitis A contamination
It can happen when an infected person prepares food without washing their hands, even if the person doesn't show signs of illness. People with questions or concerns can contact Bauer's sweets at 502-839-3700 or via email at anna@bauerscandy.com.

'Bird Box' challenge to blame for vehicle wreck in Utah, police say
Fortunately, no one was injured in the Layton, Utah , crash, a representative at the police department told CBS News . The " Bird Box Challenge" takes its name from a recent Netflix movie in which the characters must remain blindfolded.

Tulsi Gabbard: Democrat says she will run for president in 2020
Gabbard remains popular with some liberals but will have serious competition with other candidates on the left flank of the party. Her participation in the race will raise the profile of some important issues, for which libertarians should be glad.

Amazon's new release is an IMDb that has free movies, shows | Digital
Amazon, which acquired IMDb in 1998, claims the site has more than 250 million unique monthly users worldwide. The content is from the global movie database, or IMDb, which Amazon owns .

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.

❄️When high-impact winter storm will bring snow to Central Virginia
Some of the snow will become mixed with rain on Saturday, mainly in east central IL and areas along and south of I-70. As of Thursday afternoon, the weather service's forecast specifically for Lawrence predicted a rainy Friday.

Trump touts plan to change visas for skilled foreign workers
Trump campaigned for president on a promise to crack down on immigrants, who he said took jobs away from USA citizens. H-1B is considered the most sought-after work visa among highly-skilled Indian professionals.

Poland arrests Chinese Huawei exec, Pole on spying charges
The Chinese government said it was "highly concerned" over reports of the arrest of a Chinese businessman for alleged espionage. TVP said the Polish national was a former agent of the internal security agency.

Bizarre Ear Condition Makes Woman Unable to Hear Men's Voices
The night before she was unable to hear her boyfriend's voice, Chen also said she felt nauseous and had ringing in her ears. According to Thigpen Hearing Center , many people with this condition don't even realize they have it.

Google Assistant comes to Maps for Android, iOS
Google Assistant might be pretty much a standard option for Android phones , but Google found another way to extend its reach. There was a lot announced over the past week at CES 2019 , and we've rounded up all of the best news from CES down below.