Abu Dhabi / Emirates Business A total of 217 space sector start-ups and entrepreneurs received funding exceeding $2.5 billion throughout 2017, with 14 having been founded in the Middle East, audiences heard at the final day of the Global Aerospace Summit in Abu Dhabi. Of the 217, 121 are based in the US, according to Mark Boggett, Managing Director of …

Bloomberg Rosneft PJSC plans to start a $2 billion share buyback this year, while also cutting spending and debt. The state-run producer, which pumps more than 40 percent of Russia’s crude, has already signalled a shift towards more efficient “organic” growth, ending years of deal-driven expansion that made it the country’s most indebted company. The latest announcement could boost Rosneft’s …

Bloomberg OPEC continues to over-deliver on its production cuts, with output falling further last month as the group nears its goal of rebalancing the oil market. The cartel pumped 31.93 million barrels a day, down from a revised 31.97 million in March, a Bloomberg News survey of analysts, oil companies and ship-tracking data found. OPEC and a group of non-OPEC …