Aramco the oil giant posted net profits of 111000000000. 00 euros last year because creative cost doesnt only go to financing the saudis face it also pays for a lot of perks for the general public petrol is cheap health care and education are both free for. No one pays income tax. The oil concealed beneath the Saudi Arabian desert has almost been pumping itself out of the ground for a few years low drilling costs have made iran co the most valuable and Profitable Company in the world and its the biggest 12 percent of the worlds oil comes from topps but no one knows with any certainty had the company is structured and run around co avoid publicity as far as possible its shares will only be listed on the Riyadh Stock Exchange now and there are questions about just how large its sited reserves really are not to mention the uncertainty around or oil prices and a move towards renewables Crown Prince Mohammed Bin Salman wants to reduce his countrys reliance on oil revenues from around close
Sinks into chaos Pope John Paul 2 seconds just chants of the people from steel. Cars. The start of an era that defines a modest. 1970 the big coup today steps december 23rd. Cuts. Opec debates another big Production Cut what could it mean for africas Biggest Oil Producer nigeria and how could saudi aramco upcoming i. P. O. Get the oil markets well take a look at both. Also on the show the latest in Drone Technology is on display in amsterdam but in a rising industry deal with regulation and growing security fears. Im Stephen Beardsley in berlin thanks for joining us. Opec organ the organization of the Petroleum Exporting countries and its allies are moving closer to one of the deepest output cuts in this decade and the group is meeting in vienna to discuss an additional cut of 500000 barrels a day out on top of the current cuts of 1200000 barrels daily the aim is to support crude prices of medical oil clutch new quotas could be difficult for Africas Largest Oil Producer nigeria which h
Go to the euro max channel. Going to find stories. With exclusive sites. And a must see concerning part time culture kingaroy. Curious minds. Do it yourself networkers. Subscribers dont miss out. Ministration succeeds in reducing the trade deficit fresh figures show the u. S. Is importing and exporting less going to war with china but it could be a bad sign for the economy. In france paralyze the entire country to say no to a proposed pensions reform. And saudi arabia prepares for the worlds biggest i. P. O. The National Oil Company will sell 25600000000. 00 in shares what are they worth to. Program the u. S. Trade deficit dropped to its lowest level in nearly one and a half years in october according to the Commerce Department the trade bill fell 7. 6 percent to 47200000000. 00 as both imports and exports declined this could be a direct consequence of Donald Trumps america 1st policy which has seen several tariff disputes including a trade war with china the trade deficit with china f
The air has become unbearable. Lewis hamilton will start the us formula 1 grand prix in fifth position on the grid but is still poised to win the world drivers championship. And the travel show explores a hidden city in the Arabian Desert untouched for thousands of years. Thats in half an hour here on bbc news. Good afternoon. The leader of the brexit party, nigel farage, has announced he wont be standing as a candidate in the coming general election. He says hell focus instead on touring the country to support his partys candidates. It comes days after his offer of an electoral pact with the conservatives was rejected by borisjohnson. Heres our political correspondent, nick eardley. Love him or hate him, nigel farage has been a key face in british politics for years. Its like sponsored drinking there might be fewer pints these days, more chats with us president s, but after years of trying, seven elections, to be precise, he will not be standing to be an mp. I dont want to be in polit
Majority of catalan independence. They could follow the latvian route or the slovenian route that because of our strategy for independence, forgetting that any of these countries, the population was that 90 . For independence. That is not the case in catalonia. Way before catalonia breaks away from spain, catalonia itself would break in two because there was a huge section that does not want that and it will respond this sunday. Let the side the relationship between catalonia and the rest of spain, it is so strong that any push for independence that may be successful, it is the catalonian economy that could be affected for years. Last but not least, catalan parties have never made it clear what kind of political system they want from the country while it is independent. Right now we have a parliamentary democracy and monarchy with respect for human rights and rule of law. Im not sure that this will be the case. Thanks lets have a look at the weather now. Heavy rain across and wales wer