Dalian Refinery Plans 45-day Overhaul
PetroChina's subsidiary refinery, Dalian Petrochemical Corp, plans to have a major turnaround in April-May of 2020, four industry sources told Reuters.The maintenance is scheduled to start from late March or early April and will last for around one and a half months, the sources said.The 410,000 barrels-per-day (bpd) plant in th
Saudi Aramco IPO Proceeds Rise to $29.4 Bln
The proceeds from Saudi Aramco's record initial public offering have risen to $29.4 billion after the oil company exercised an option to sell 15% more stock, an executive at one of the banks leading the deal told Al Arabiya news channel on Monday.Wassim Al Khatib, head of investment banking at the investment arm of Saudi Arabia'
Saudi Aramco Sets Record $25.6 Bln IPO
State-owned oil giant Saudi Aramco's initial public offering (IPO) will be the biggest in history, but will fall short of the towering $2 trillion valuation long sought by Crown Prince Mohammed bin Salman.Aramco priced its IPO at 32 riyals ($8.53) per share, the top of its indicative range…
Timeline: Saudi Aramco's Winding Road to IPO
State-run oil giant Saudi Aramco has priced its initial public offering (IPO) at the top of its indicative range, making it the world's biggest flotation by raising more than Alibaba's $25 billion listing in 2014.Here are key events in the Saudi state oil giant's planned stock market debut.Dec 5…
Saudi Aramco Shares to Start Trading Dec. 11
Saudi Aramco shares will start trading on Dec.
Saudi Aramco IPO: $44.3 Bln in Bids So Far
Saudi Aramco has received bids for its shares totalling $44.3 billion so far, lead manager Samba Capital said on Friday, putting its initial public offering on track to be over-subscribed.The state-owned oil giant plans to sell 1.5% of the company's shares for as much as 96 billion riyals ($25.6 billion)…
Providence to Operate Avalon as Total Exits
As Total E&P Ireland, a subsidiary of the French multinational oil giant, has withdrawn, Providence Resources has taken over operatorship of the Frontier Exploration Licence (FEL) 2/19, which contains the Avalon prospect, located offshore Ireland.FEL 2/19 is located in the southern Porcupine Basin…
Saudi Aramco's IPO Reaches $8.7 bln
Retail subscription for Saudi Aramco's initial public offering (IPO) reached 32.57 billion Saudi riyals ($8.7 billion) on Monday, lead manager Samba Capital said.The state-owned oil giant plans to sell 1.5% of the company, or about 3 billion shares, at an indicative price range of 30 riyals to 32 riyals…
Petronas Quarterly Profit Halves
Malaysia's state energy firm Petroliam Nasional Bhd said on Tuesday its third-quarter profit nearly halved due to lower demand and impairment charges, and warned of further risks to demand.Profit for the July-September period at Petronas, as the company is better known…
BP, Total Pact for Adnoc LNG Supply
The state oil giant Abu Dhabi National Oil Company (ADNOC) signed agreements with BP and Total to book the majority of its liquefied natural gas (LNG) production up to the first quarter of 2022.With the transactions, ADNOC LNG has continued to expand its footprint into new regions and markets…
MOL Purchases Azerbaijan ACG, BTC Pipeline Stakes
MOL has signed an agreement with Chevron Global Ventures Ltd and Chevron BTC Pipeline, Ltd to acquire their non-operated E&P and mid-stream interests in Azerbaijan, including a 9.57% stake in the Azeri-Chirag-Gunashli (ACG) oil field, and an effective 8.9% stake in…
Investors Still Unclear on Saudi Aramco IPO Value
Saudi Aramco's blockbuster listing remained shrouded in mystery on Monday, a day after the company finally announced its plans, with scant details disclosed and expert valuations varying wildly from around $1.2 to $2.3 trillion.The state oil giant, the world's most profitable company…
Saudi Aramco Kick-starts IPO
Saudi Arabia's giant state oil company finally kick-started its initial public offering (IPO) on Sunday, announcing its intention to float on the domestic bourse in what could be the world's biggest listing as the kingdom seeks to diversify its economy away from oil.But in its long-awaited announcement…
India, S. Arabia in New Petro Relationship
India and Saudi Arabia have decided to expand its ‘energy relationship’ into next phase to include Saudi partnership in building additional crude oil storage reserves in India, a new refinery on the west coast of India and investment in retail sector in petroleum.Saudi…
Orca-1 is Largest Gas Discovery of the Year
On 28 October 2019 oil giant BP announced a major gas discovery, Orca-1, exploration well in the BirAllah area off the coast of Mauritania.“The deepest and largest discovery so far this year, Rystad Energy estimates Orca-1 holds around 1.3 billion barrels of oil equivalent (boe) of recoverable resources…
Saudi Still China's Top Oil Supplier
Saudi Arabia held its position as China's largest crude oil supplier in September helped by demand from new refineries and as imports from Iran and Venezuela continued to fall due to U.S. sanctions, customs data showed on Friday.The drone and missile attack on oil-processing plants in Saudi Arabia on Sept.
Dudley Plans to Remain on Rosneft Board
BP Chief Executive Bob Dudley on Thursday said he intends to remain on the board of Russian oil giant Rosneft despite his plans to step down at BP next year.(Reporting by Olesya Astakhova; Writing by Tom Balmforth; Editing by David Goodman)
Aramco Suspends 50% of Production
Saudi Arabia has temporarily halted production at two Aramco oil facilities that were attacked by Yemeni rebels, interrupting about half of the company’s total output.Saudi Aramco said the production of 5.7 million barrels of crude a day had been suspended after drone…
Siemens Plans to List Energy Unit in 2020
Siemens plans to list its energy unit by around September next year, the head of its gas and power division said on Tuesday.The German conglomerate said in May that it was spinning off its gas and power business, which has dragged on the German engineering firm's performance…
ADNOC Inks $600 Mln Deal with GIC
Abbu Dhabi National Oil Co (ADNOC) said on Wednesday it signed a $600 million pipeline infrastructure investment agreement with Singapore's sovereign wealth fund GIC.The deal follows previous investments by BlackRock, KKR and the Abu Dhabi Retirement Pensions and Benefits Fund in the Abu Dhabi oil giant's pipeline infrastructure
