oil
Canada wildfire: Oil workers evacuate camps near Fort McMurray
Hundreds of Canadian oil workers have been ordered to evacuate camps near the fire-hit town of Fort McMurray as a resurgent wildfire heads towards them. Alberta State Premier Rachel Notley said up to 600 workers were being sent to oil sands installations further north. About 4,000 more workers are on standby to evacuate if...
Saudi Arabia government overhaul sees oil minister removed
Saudi Arabia's King Salman has removed the country's veteran oil minister as part of a broad government overhaul. Ali al-Naimi has been replaced after more than 20 years in the role by former health minister Khaled al-Falih. Saudi Arabia, the world's largest crude exporter, unveiled major economic reforms in April,...
Saudi Arabia agrees plans to move away from oil profits
The Saudi cabinet has approved sweeping economic reforms aimed at moving the country away from its dependence on oil profits. Just over 70% of revenues came from oil last year but it has been hit by falling prices. One part of the plan will see shares sold in state-owned oil giant Aramco to create a sovereign wealth fund....