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Showing posts from August, 2019

According To Reuters, Investment Funds Care Little About Returns, More About The Environment

SUSTAINABLE BUSINESS AUGUST 20, 2019 / 1:14 AM / UPDATED 4 HOURS AGO Climate change could rain on Saudi Aramco's IPO parade Clara Denina, Sinead Cruise, Rania El Gamal, Simon Jessop 11 MIN READ LONDON/DUBAI (Reuters) - Saudi Aramco’s biggest asset could also be a liability. Reprinted by Scott Shields Katy, Scott Shields Houston, www.morganshields.com FILE PHOTO: An oil tanker is being loaded at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia, May 21, 2018. REUTERS/Ahmed Jadallah/File Photo The state energy giant’s vast oil reserves – it can sustain current production levels for the next 50 years – make it more exposed than any other company to a rising tide of environmental activism and shift away from fossil fuels. In the three years since Saudi Crown Prince Mohammed Bin Salman first proposed a stock market listing, climate change and new green technologies are putting some investors, particularly in Europe and the United States, off the oil and gas se

Saudi Aramco to buy chunk of Reliance - will this change the energy landscape and set up the IPO?

BUSINESS NEWSAUGUST 12, 2019 / 1:24 AM / UPDATED 20 MINUTES AGO Saudi Aramco aims to buy Reliance stake, reports 12% earnings slide Rania El Gamal, Saeed Azhar 6 MIN READ. Reposted by Scott Shields Katy, Scott Shields Houston DUBAI (Reuters) - Saudi Aramco is planning a blockbuster investment in Reliance Industries (RELI.NS), the Indian firm announced on Monday, as the energy giant diversifies its business, where weaker oil prices pared its first-half profit by 12%. State-run Aramco disclosed its closely guarded financials for the first time earlier this year, revealing its 2018 earnings in order to obtain a public rating and start issuing international bonds. The world’s top oil producer plans to launch an initial public stock offering or IPO by 2020-2021, having postponed its flotation from 2018. Aramco signed a letter of intent to take a 20% stake in Reliance’s oil-to-chemicals business in one of the largest ever foreign investments in India, Reliance said. Aramco is expanding

Ready for the LNG Second Wave of US Exports? Some Say It is Here

Surf’s Up: Second wave of LNG is here The long-anticipated “second wave” of liquefied natural gas projects is here as tsunami of final investments decisions get made and construction contracts awarded, executives and analysts said. With construction of export terminals sanctioned during the first wave nearing completion, a second round of large LNG export projects are planned from the Texas Gulf Coast to Africa to the Arctic Circle. A joint venture between Exxon Mobil made a final investment decision in February on the $10 billion Golden Pass LNG export terminal in the southeast corner of Texas. The Woodlands oil and gas company Anadarko reached a final investment in June for the its $20 billion offshore Mozambique LNG project in southeast Africa. Earlier this week, Russian natural gas company Novatek awarded a $7.6 billion construction contract to oilfield service company TechnipFMC to build the Arctic LNG 2 export terminal on the Gydan Peninsula of Siberia. The Arctic Circle pr