Companies

Shell Eastern Trading Pte. Ltd., a subsidiary of Shell plc, has announced an agreement with Carne Investments Pte. Ltd., an indirect wholly-owned subsidiary of Temasek, to acquire 100 percent of the shares in Pavilion Energy Pte. Ltd, Trend reports. This acquisition includes Pavilion Energy’s global LNG trading business, with a …

Abu Dhabi’s national oil company ADNOC has taken the final investment decision to move forward with the Ruwais LNG project, which will more than double the existing LNG production capacity in the United Arab Emirates. ADNOC took on Wednesday the FID for the Ruwais LNG project, which will consist of …

Saudi Arabia’s oil giant Aramco looks caught between a rock and a hard place. It seeks to win over new investors, especially foreign ones, while at the same time – as the world’s top crude oil exporter and the biggest OPEC producer – not allowing oil prices to crash. Aramco …

Foreign investors were allocated about 60% of the shares on offer in Saudi Aramco’s $11.2 billion stock sale, people familiar with the matter said, marking a turnaround from the oil giant’s 2019 listing that ended up as a largely local affair. The deal generated strong demand from the U.S. and …

The Kingdom of Saudi Arabia is poised to raise at least $11.2 billion from the ongoing secondary offering of shares in Saudi oil giant Aramco, Bloomberg reported on Friday, citing anonymous sources with knowledge of the matter. The Saudi government is expected to sell the 1.545 billion shares of Aramco …

A subsidiary of China’s energy giant Sinopec has signed a $1.3-billion deal with Saudi Aramco to procure and build pipelines for an expansion of the Kingdom’s natural gas distribution network, the Chinese firm said on Thursday. Under the turn-key fixed-price contract worth $1.3 billion (5.17 billion Saudi riyals), Sinopec International …

Saudi Arabia is preparing for a multi-billion-dollar share sale for its oil and gas company Aramco, potentially as early as June, reported Reuters, citing sources. The sources added that the divesture could fetch approximately $10bn (SR37.5bn) for the Saudi government. The sale’s specifics are still being worked out, and people …

Exxon has signed a deal with the Algerian government for exploration at two natural gas fields in the North African country. The supermajor, in partnership with Algeria’s state energy firm Sonatrach, will “study the existing opportunities to develop the hydrocarbon resources in the Ahnet basin and the Gourara basin” in …

The China National Offshore Oil Co, or CNOOC, has signed an exploration and production deal for five oil and gas blocks in Mozambique, Reuters reported, citing a CNOOC statement. The five blocks are offshore the African country, in depths ranging between 500 meters and 2,500 meters, the Chinese state-owned company …

The United States’ largest pension fund, CalPERS, will vote against the ExxonMobil board at the upcoming May 29 board meeting, in a move designed to block the supermajor’s attempt to sue activist investors who are pressuring it to move more quickly on lowering emissions, Reuters reported on Monday. Activist investors …