Bloomberg Saudi Aramco began executing the acquisition of a 70% stake in Saudi Basic Industries Corp. through block trades worth 259 billion riyals ($69 billion) on Sunday. A total of 2.1 billion Sabic shares changed hands on the Saudi exchange in four transactions as the oil company moves ahead with the purchase from the kingdom’s Public Investment Fund (PIF). Aramco …

Bloomberg Russia’s state development bank wants to start turning the world’s biggest energy exporter into a hub for green finance days after a 20,000-ton diesel spill in the nation’s far north. VEB.RF, which has been used in the past to help finance President Vladimir Putin’s infrastructure projects, plans to set up guidelines for green bonds by the end of the …

Bloomberg Iraq has asked BP Plc to cut crude production at the nation’s biggest field of Rumaila by 10% as part of a push to comply with OPEC+ quotas, according to a person familiar with the matter, who asked not to be identified as the matter is private. The deposit, near the southern oil hub of Basra, produces almost 1.5 …