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Aramco acquires stake in BHIG

The 50% equity interest in BHIG is Aramco-APQ joint venture.

ADNOC L&S okays $273m dividend

The final dividend of $136.5m will be paid on April 3.

ADNOC Gas to pay $3.41bn dividend

It includes $1.7 billion scheduled for distribution in Q2 2025.

BYD surpasses Tesla with record revenue

The Chinese EV giant's net profit was $5.55 billion for 2024.

Al Ansari approves $85m dividend

This is approx 78% of the company's net profit after tax.

Kremlin says OPEC+ cut output to stabilize oil markets

Representatives of OPEC member countries attend a press conference in Vienna on October 5. (AFP)
  • Kremlin spokesman Dmitry Peskov it was proof that "some countries understand the absurdity" of Washington's demand for a price cap on Russian oil.
  • The European Union has also proposed introducing a price cap on Russian oil as part of new sanctions over Ukraine.

Moscow—The Kremlin said Thursday that an OPEC+ decision to sharply cut production was designed to stabilize global oil markets, after Washington said the move was a concession to Moscow.

“The decisions that were taken were aimed at stabilising oil markets,” Kremlin spokesman Dmitry Peskov said.

He said it was proof that “some countries understand the absurdity” of Washington’s demand for a price cap on Russian oil.

The decision from the 13-nation OPEC cartel helmed by Saudi Arabia and a group of 10 exporters led by Russia angered the United States, which has been lobbying to hold down fuel prices and isolate Russia over its Ukraine aggression.

The European Union has also proposed introducing a price cap on Russian oil as part of new sanctions over Ukraine.

Moscow on Wednesday that a price cap on its oil would have a “detrimental effect” on global markets and warned it would not supply crude to countries that introduce it.