Saudi Arabia on Monday unveiled the largest budget in its history, projecting expenditures at SR540 billion ($144 billion) and revenues at SR470 billion ($125 billion). It has allocated SR260 billion for new welfare projects and SR137 billion for education...
Crude oil traded near $73 a barrel in New York after rising last week amid optimism demand will increase as the global economy recovers from its worst recession since World War II...
Malaysian state oil firm Petronas and Japan Petroleum Exploration Co (Japex) signed an initial agreement yesterday to develop Iraq's Gharaf oilfield, in which they are expected to invest up to $8bn...
