Saudis Seek $12B Loan From Banks Amid Aramco IPO Delays

The sovereign wealth fund of Saudi Arabia is set to pick a number of international banks to lend it as much as US$12 billion, after the listing of oil giant Aramco has been delayed several times, and possibly even called off, the Financial Times reported on Thursday, quoting bankers, advisors, and other people with knowledge of the process...

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ExxonMobil farms in to PEL 44, offshore Namibia

Azinam Limited (Azinam), the Seacrest Capital Group-backed Namibian explorer, is pleased to announce that ExxonMobil Namibia (PEL44) Limited, an affiliate of ExxonMobil Corp., has entered into an agreement with Azinam to acquire a 30% interest in Petroleum Exploration License (PEL) 44,  Namibia...

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China Rejects U.S. Request to Cut Iranian Oil Imports

The U.S. has been unable to persuade China to cut Iranian oil imports, according to two officials familiar with the negotiations, dealing a blow to President Donald Trump’s efforts to isolate the Islamic Republic after his withdrawal from the 2015 nuclear accord...

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KUFPEC records highest production ever

Kuwait Foreign Petroleum Exploration Company (KUFPEC) has achieved the production of 100 mboepd at the beginning of 2018 and raised production up to 119 mboepd in July 2018, recording the highest production rate since establishing the company in 1981...

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Big Oil's Winners and Losers Emerge

Crude prices rose to three-year highs, operating costs were down and profit was growing by double or triple digits, but investors still found plenty to complain about in Big Oil’s second-quarter earnings...

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