Bloomberg Saudi Basic Industries Corp, the chemical maker in which Saudi Aramco holds a majority stake, returned to profit in the third quarter amid signs that demand is recovering from the impact of the coronavirus. The company, known as Sabic, said third-quarter profit was 1.09 billion riyals ($290 million) compared with 740 million riyals in the same period last year. …

Bloomberg The desolate red sands of the Pilbara region in western Australia, home to most of the iron ore mines that account for a major chunk of the nation’s export income, may one day house an ambitious hydrogen export hub. The Asian Renewable Energy Hub, which would use electricity from wind and solar plants stretched across thousands of miles to …

Bloomberg A unit of Petroleos de Venezuela SA (PDVSA) sued the US to recover more than $640 million in excise taxes it says it overpaid on environmentally friendly fuels. PDV Holding Inc, the subsidiary of Venezuela’s national oil company, claims it improperly calculated tax credits and overpaid from 2005 to 2011. The company, which filed the lawsuit in federal court …