The Nibras petrochemicals complex is expected to be operational in five to six years.
New energy-focused credit fund will seek to buy the traded debt of energy firms rather than lend to them directly.
Crude oil continues to slide as strong dollar makes commodity more expensive in other currencies.
Dollar denominated oil has fallen more than 58% since summer of 2014.
Euro drops to a near 11-year low against the US dollar on 26 January.
US crude in the $26-$30 price range will signal that a global recession is inevitable, according to a Convergex survey.
Spot gold prices have gained some 10% so far this year.
Brent crude, the European benchmark, traded at about $110 a barrel a year ago.
Russia previously cut off gas supplies to Ukraine amid rising political tensions between neighbours.
No change expected in Saudi oil policy following death of King Abdullah bin Abdulaziz al-Saud.
BP chief executive Bob Dudley has said he expects oil to remain low for up to three years.
Oman first non-Opec member to criticise the oil cartel's output policy.
New Delhi could cut India's record high gold import duty in the budget to be presented on 28 February.
Janjuah voices concerns about the US, whose energy industry grew on the back of its shale oil and gas boom.
Global crude oil market remains 'considerably oversupplied' keeping prices under pressure.