Al Falih News

Al-Falih will be replaced by Yasir Al-Rumayyan, head of the country’s sovereign wealth fundAl-Rumayyan, a former banker with Saudi Fransi Capital, is a key adviser to Crown Prince Mohammed Bin Salman

Aramco and the United Arab Emirates' national oil company ADNOC teamed up with state-run Indian refiners last year in a plan to build a 1.2 million barrel per day refinerySaudi Arabia is the second biggest oil supplier to India after Iraq

'We will be flexible. We are going to do the right thing as we always do, Khalid al-Falih said'I am not sure there is a supply shortage, but we will look at the analysis,' said Saudi Arabia's Energy Minister

Four oil tankers anchored in the Mideast were damaged in what Gulf officials described Monday as a "sabotage" attackSaudi statement described it as a "limited targeting" of petroleum stations in areas al-Dudami and Afif in the Riyadh region

The kingdom won’t significantly raise output in May and will stay within its OPEC production limit until the group’s current supply deal expires in JuneRiyadh is treading a fine line between keeping its key US ally happy while preserving unity in the producer coalition known as OPEC+

Aramco last year postponed a planned initial public offering to 2021Falih said the issue will close on Wednesday and that he believed demand for the bond was "north of" $30 billion

Saudi Arabia is a crucial source of energy for India and the second largest supplier of crude and cooking gas to IndiaIndian strategic planners have been worried over short-term supply disruptions

Experts say energy output from renewables, especially solar and wind, is growing faster than anticipated, threatening to displace oil, gas and coal as the world's main sources of power.

The Organization of Petroleum Exporting Countries, led by Saudi Arabia, agreed to cut oil output this year to support prices.

Aramco is in talks to buy 70 % of Sabic from the Public Investment Fund, which could cost about $70 billion