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olie gas saudi-arabien Ras Tanura Refinery, seen here, has grown into one of the most complex in the world, with a distillation capacity of 550,000 bpd of crude oil and gas.jpg
Photo: SaudiAramco

China, Saudis to Discuss CIC, CNPC Investment in Aramco IPO

Offshore:

China's sovereign wealth fund is allegedly in talks with Saudi Arabia in terms of a massive investment in the planned IPO Aramco.


BY BLOOMBERG NEWS
Published 16.03.17 at 09:09

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Most read Offshore

US firm Brookfield takes control of Teekay Offshore

kenneth hvid.jpg Offshore:

Teekay Corporation has entered a strategic partnership with New York-listed investment firm Brookfield, which will inject hundreds of million of dollars in Teekay Offshore. Brookfield will thus own 60 percent of the offshore unit.

Rystad Energy: At least 110 rigs must go to curb downturn

Offshore:

Massive overcapacity in the jack-up rig market means that 110 rigs need to be go before the market can return to balance and the downturn in recent years can be curbed, says Rystad Energy.

Shell's profit skyrockets in Q2

Offshore:

The oil company is in line with industry trends after defying analyst expectations with strong figures in the year's second quarter.

Singapore's high court declares Ezra company bankrupt

Offshore:

Yet another company under Singapore's once-booming offshore company Ezra has collapsed. Subsidiary Lewek Champion, with the offshore vessel of the same name, has been declared bankrupt by Singapore's high court.

Havila family buys stake in Norwegian offshore carrier

Offshore:

The Sævik family, known for Havila Shipping, has bought a stake in offshore carrier Volstad Maritime, based in Ålesund, Norway, report local media. "We wish to contribute to building a large and profitable subsea company," says Havila founder Per Sævik according to Sysla.

Statoil exceeds expectations and triples operating result

Offshore:

Higher oil prices and a major focus on cost reductions helped the Norwegian oil giant emerge in surprisingly strong form from the year's second quarter.

Current front page

New Dan-Bunkering CEO: We need to grow at least 10 pct

christopher.jpg Services:

Dan-Bunkering has in the past year streamlined its organization and laid off people. Not there is room to strengthen the core business, and also consider new areas, the company's CEO since May this year, Christoffer Berg Lassen, tells ShippingWatch.

US firm Brookfield takes control of Teekay Offshore

Offshore:

Teekay Corporation has entered a strategic partnership with New York-listed investment firm Brookfield, which will inject hundreds of million of dollars in Teekay Offshore. Brookfield will thus own 60 percent of the offshore unit.

Rystad Energy: At least 110 rigs must go to curb downturn

Offshore:

Massive overcapacity in the jack-up rig market means that 110 rigs need to be go before the market can return to balance and the downturn in recent years can be curbed, says Rystad Energy.

Finnlines beats its own record in first half of 2017

Carriers:

Italian-owned Finnlines presents record results for the latest quarter as well as the first half of 2017. CEO attributes the strong developments to soaring Finnish imports and exports.

EU Commission cancels tax discount for French and Belgian ports

Ports:

That Belgian and French ports are exempted from paying taxes on their profits constitutes illegal state aid, concludes the EU's competition commissioner Margrethe Vestager. But the ports will not be required to repay the received aid.

Statoil exceeds expectations and triples operating result

Offshore:

Higher oil prices and a major focus on cost reductions helped the Norwegian oil giant emerge in surprisingly strong form from the year's second quarter.

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