RDIF Says Oil Demand May Rise
Global oil demand may rise as global trade wars subside, Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF), told reporters on Wednesday when asked what to expect from a meeting of OPEC and non-OPEC oil producers set for December."Of course, the committee will look at demand in the oil markets.
Aramco: IPO Will Come Soon
The initial public offering (IPO) for state-owned oil company Saudi Aramco will come soon, and will be a decision taken by Saudi Crown Prince Mohammed bin Salman, the kingdom's energy minister said on Wednesday.Aramco aims to announce the start of its IPO on Nov. 3, three people with direct knowledge of the matter told Reuters on Tuesday,…
Russia: Japan's Mitsubishi Interested in Arctic LNG 2 Project
Russia's energy ministry said on Monday that Japan's Mitsubishi Corp has expressed interest in participation in the Arctic LNG 2 project, which is due to start producing liquefied natural gas in the next decade.Novatek owns a 90 percent stake in the project, with France's Total holding the other 10 percent. Novatek intends to keep a 60 percent stake in Arctic LNG 2…
Saudi Aramco IPO on Track for 2018
A plan to list Saudi Aramco in 2018 is on track, senior Saudi officials said in Moscow on Thursday, as Saudi Arabia gears up to sign a string of investment agreements with Russia. The plan to float around 5 percent of Aramco in an initial public offering (IPO) is a centrepiece of Vision 2030, a wide-ranging reform plan to diversify the Saudi…
Russian State Fund CEO May Join Transneft Board
The government has nominated Kirill Dmitriev, head of Russian Direct Investment Fund (RDIF), to the board of state-controlled oil pipeline monopoly Transneft , a government source told Reuters on Friday. "For the first time a direct representative of investors in the preferred shares will become a member of Transneft board," the source said, adding the move will facilitate efforts to raise Transneft dividends.
Russia-China Fund, Abu Dhabi's Mubadala Eyeing Stake in Eurasia Drilling
The Russia-China Investment Fund (RCIF) and Mubadala, Abu Dhabi's state fund, are considering buying a minority stake in Eurasia Drilling Company, Russia's largest drilling company by metres drilled, three sources close to the talks told Reuters. In 2015, Eurasia Drilling Company (EDC) delisted its shares from the London Stock Exchange after…
New Global Oil Deal Could Draw Lessons from 1998
OPEC rifts and pact with Russia under scrutiny; secret talks led by Mexico pulled off tricky deal in 1998. After a year of secret diplomacy and hushed-up private talks around the world, OPEC's mighty Saudi Arabia and rival Venezuela were persuaded to cut a deal by non-OPEC Mexico which overcame mutual acrimony and led to a much-needed rise in oil prices.
