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Saudi Aramco IPO should go according to plan

Saudi Aramco Chief Executive Officer Amin Nasser said the initial public offering of the state-oil producer will “certainly” happen when the conditions are right. Saudi Aramco said it is still in discussions to buy a stake in petrochemicals company Saudi Basic Industries Corp. (Sabic) from the kingdom’s sovereigh wealth fund, …

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Qatar trying to buy out Roseneft shares

Russian oil giant Rosneft (ROSN.MM) said on Tuesday that the Qatar Investment Authority sovereign wealth fund would pay around 3.7 billion euros ($4.23 billion) for a half of a 14.16 percent stake in the company. The QIA would become the third-largest Rosneft shareholder as a result of the deal after …

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Kuwaiti oil price down to US$73.77 pb

The price of Kuwait crude oil went down US$2.82, Wednesday, reaching US$73.77 per barrel, compared to US$76.59 pb last Tuesday, said Kuwait Petroleum Corporation on Thursday. According to the Kuwait News Agency, KUNA, the price of the Brent crude went down 27 cents to settle at US$76.17 pb, and the West …

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Opec mulls all options on output for 2019

Opec has urged a committee to prepare “options” for how much oil it should produce next year to prevent the market slipping back into oversupply, the clearest sign yet that the group could reduce output to avoid prices falling further. The rise in oil inventories in recent weeks coupled with …

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Adnoc completes Nasr field facilities

Abu Dhabi National Oil Company (Adnoc) on Sunday said that it successfully and safely completed the installation of all Nasr supercomplex facilities. “This megastructure is one of the largest supercomplexes in the world, with Nasr field contributing to Adnoc’s end of 2018 oil production capacity target of 3.5 million barrels …

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