Saudi Aramco, the world's biggest oil producing company, plans to sell a 5 per cent stake as originally planned, within the next two years, Saudi Arabia's Okaz newspaper reported, citing the energy minister.
Saudi Arabia is exporting up to 10 million barrels per day of oil and its by-products, Khalid Al Falih said, according to the remarks published on Thursday.
Aramco delayed its initial public offering slated for this year as it builds up its petrochemicals portfolio and gets ready for the flotation.
The company is currently in talks with the country’s sovereign wealth fund, the Public Investment Fund, to buy a 70 per cent stake in Saudi Basic Industries Corporation, or Sabic, the Middle East’s biggest petchems producer.
Saudi Arabia’s Crown Prince Mohammed bin Salman, the driving force behind the kingdom's economic overhaul, has said Aramco's listing will take place by 2021, valuing the company at around $2 trillion (Dh7.34 trillion).
Aramco, which produces and sells crude on behalf of the kingdom, has begun to increasingly assign resources towards developing integrated refining and chemicals projects at home and abroad, as it looks to earn more from the sale of products, which have large markets in Asia.
The company has made strides abroad, notably in the downstream sector where it has partnered with state-owned Abu Dhabi National Oil Company to invest in a $44bn integrated refining and chemicals complex on the western coast of India, along with a group of state-backed domestic refiners.
Adnoc and Aramco also forged a pact last November, to explore joint investments in liquefied natural gas and natural gas.
Aramco is also in the process of developing a large-scale downstream complex in India.
Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.
The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.
When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.
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The specs
Engine 60kwh FWD
Battery Rimac 120kwh Lithium Nickel Manganese Cobalt Oxide (LiNiMnCoO2) chemistry
Power 204hp Torque 360Nm
Price, base / as tested Dh174,500
MEYDAN%20RACECARD
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PROVISIONAL FIXTURE LIST
Premier League
Wednesday, June 17 (Kick-offs uae times) Aston Villa v Sheffield United 9pm; Manchester City v Arsenal 11pm
Friday, June 19 Norwich v Southampton 9pm; Tottenham v Manchester United 11pm
Saturday, June 20 Watford v Leicester 3.30pm; Brighton v Arsenal 6pm; West Ham v Wolves 8.30pm; Bournemouth v Crystal Palace 10.45pm
Sunday, June 21 Newcastle v Sheffield United 2pm; Aston Villa v Chelsea 7.30pm; Everton v Liverpool 10pm
Monday, June 22 Manchester City v Burnley 11pm (Sky)
Tuesday, June 23 Southampton v Arsenal 9pm; Tottenham v West Ham 11.15pm
Wednesday, June 24 Manchester United v Sheffield United 9pm; Newcastle v Aston Villa 9pm; Norwich v Everton 9pm; Liverpool v Crystal Palace 11.15pm
Thursday, June 25 Burnley v Watford 9pm; Leicester v Brighton 9pm; Chelsea v Manchester City 11.15pm; Wolves v Bournemouth 11.15pm
Sunday June 28 Aston Villa vs Wolves 3pm; Watford vs Southampton 7.30pm
Monday June 29 Crystal Palace vs Burnley 11pm
Tuesday June 30 Brighton vs Manchester United 9pm; Sheffield United vs Tottenham 11.15pm
Wednesday July 1 Bournemouth vs Newcastle 9pm; Everton vs Leicester 9pm; West Ham vs Chelsea 11.15pm
Thursday July 2 Arsenal vs Norwich 9pm; Manchester City vs Liverpool 11.15pm
CABINET%20OF%20CURIOSITIES%20EPISODE%201%3A%20LOT%2036
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Women%E2%80%99s%20T20%20World%20Cup%20Qualifier
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6.30pm: Al Maktoum Challenge Round-3 Group 1 (PA) | US$95,000 | (Dirt) 2,000m
7.05pm: Meydan Classic Listed (TB) ) | $175,000) | (Turf) 1,600m
7.40pm: Handicap (TB) ) | $135,000 ) | (D) 1,600m
8.15pm: Nad Al Sheba Trophy Group 3 (TB) ) | $300,000) | (T) 2,810m
8.50pm: Curlin Handicap Listed (TB)) | $160,000) | (D) 2,000m
9.25pm: Handicap (TB)) | $175,000) | (T) 1,400m
10pm: Handicap (TB) ) | $135,000 ) | (T) 2,000m
Dengue%20fever%20symptoms
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The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
