Bloomberg Royal Dutch Shell Plc’s agreement to sell out of oil-sands producer Canadian Natural Resources Ltd. brings its $30 billion divestment goal within reach. The Anglo-Dutch company’s Shell Gas BV unit will divest all its shares in Canadian Natural for total pretax proceeds of $3.3 billion, The Hague-based Shell said. The sale serves the dual purpose of shedding one of ...

Bloomberg Saudi Arabia’s non-oil revenue climbed 63 percent in the first quarter of 2018, propelled by improved tax collection as part of a drive to reduce the economy’s reliance on income from oil exports. Revenue rose to 52.3 billion riyals ($14 billion), partly due to the introduction of value-added taxation and measures taken over the past two years, including a ...

Bloomberg Saudi Arabia’s energy minister said bringing global oil inventories back to their five-year average isn’t the target of OPEC’s output cuts, and the group is yet to accomplish its goal of stabilising markets. The rolling five-year average of stockpiles is inflated by the glut that’s been around since 2014, Khalid Al-Falih said in Tokyo. The objective of production curbs ...