The new initiatives are part of Crown Prince Mohammed bin Salman's Vision 2030 plan to diversify the kingdom’s oil-reliant economy.
Oil majors are considering expanding to offshore wind farms and hydrogen fuel, to prepare for a world that uses less oil and gas.
Govt to release IIP data tomorrow: All you need to know about Index of Industrial Production, its eight core sectors
The eight core sectors have a combined share of above 40 percent in the Index of Industrial Production (IIP) which gives the growth rates of different industry groups of the economy over a specified period
Coronavirus Lockdown: Eight core sector output contracts by record 38.1% in April; cement falls 86%, steel by 84%
The output of eight core infrastructure industries shrank by a record 38.1 per cent in April due to the coronavirus-induced lockdown, according to the official data
Oil prices fall on Sino-US tensions over Hong Kong; global energy investment expected to fall by about 20% this year
Gloomy forecasts over the economic impact of the pandemic also weighed on crude oil prices.
COVID-19 Impact: Foreign investors pull out $26 billion from Asian economies, over $16 billion from India
“Foreign investors have pulled an estimated $26 billion out of developing Asian economies and more than $16 billion out of India, increasing concerns of a major economic recession in Asia,” independent Congressional Research Center said in its latest report on global economic effects of COVID-19.
Oil prices gain for fourth day on signs of output cuts, better demand; Brent crude up 0.7% to $35 per barrel
Oil prices rose for a fourth straight session on Tuesday amid signs that producers are cutting output as promised just as demand picks up, stoked by more countries easing out of curbs imposed to counter the coronavirus pandemic
Rupee slips 33 paise at 75.91 on concerns over rise in crude prices, weak domestic equities; stimulus fails to cheer investors
The rupee plummeted by 33 paise to close at 75.91 against the US dollar on Monday, tracking weak domestic equities and foreign fund outflows
Oil prices fell on Wednesday on concerns about a possible second wave of coronavirus cases in countries easing lockdowns, which could prompt renewed movement restrictions, while industry data showed US crude inventories are still rising
Saudi Aramco first-quarter profit falls 25%, below analyst estimates; hurt by lower crude oil prices as coronavirus slashed demand
Saudi Arabian state oil giant Aramco (2222.SE) on Tuesday reported a 25 percent fall in first-quarter net profit, below analyst estimates, hurt by lower crude oil prices as the coronavirus slashed demand
China's factory prices fall to 4-year low in April; weakening industrial demand as virus pandemic slams global growth
Data released last week showed China’s exports unexpectedly grew in April from a year earlier, although a sharper-than-expected decline in imports signalled weak domestic demand.
Chidambaram dubs imposition of taxes on fuel as 'cruel' in times of distress; says govt must borrow to meet deficits
Governments must borrow to meet their deficits and not impose higher tax burdens when economic activity has ground to a halt amid the coronavirus pandemic, senior Congress leader P Chidambaram said on Wednesday after the Centre and the Delhi government hiked taxes on petroleum products
Shares of oil marketing companies -- Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd -- on Wednesday plunged up to 13 percent, a day after a hike in excise duty on petrol and diesel
Govt to gain Rs 1.6 lakh cr additional revenues this fiscal from record excise duty hike on petrol, diesel
The cash-strapped government will gain close to Rs 1.6 lakh crore in additional revenues this fiscal from a record increase in excise duty on petrol and diesel, that will help make up for revenue it lost in a slowing economy and shutting down of businesses due to coronavirus lockdown
Transporters demand rollback in diesel price hike; say increasing duties, taxes may disrupt supply of essential commodities
All India Motor Transport Congress (AIMTC) on Tuesday demanded the rollback of diesel price hike and said increasing duties and taxes may disrupt the supply of essential commodities
Oil prices rise on demand prospects as lockdowns start to ease; recovery likely to be slow as airlines may remain grounded for months
Global oil demand probably collapsed by as much as 30 percent in April, analysts have said.
Oil prices fall on US-China tensions, weak factory data; crude inventories likely to increase in coming weeks
While global oil demand is expected to recover modestly from April lows as countries ease some lockdown measures, the glut created over months in storage facilities will loom over the markets.
Fuel demand hit: Petrol sales down 61%, diesel at 56.5% in April; demand expected to pick up this month
India's fuel consumption slumped by close to 70 per cent in April as all petroleum products except LPG saw massive demand erosion following a nationwide lockdown halted economic activity and travel
Coronavirus Lockdown: Eight core industries' output contracts 6.5% in March; infra sectors log 0.6% growth in FY20
The output of eight core infrastructure industries shrank by 6.5 percent in March due to fall in production of crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity amid the coronavirus lockdown
BSE brings negative price feature for commodity derivatives segment after recent development in crude oil futures
BSE will make available the negative price level feature at its trading system for commodity derivatives segment, the leading exchange said on Tuesday