Aramco, Total to invest $5 billion in new Saudi Arabia plant
12 April, 2018, 07:28 | Author: Roderick Gutierrez
Saudi Aramco, the world's biggest oil producer, has signed an agreement to develop with a consortium of Indian refiners a $44 billion integrated refining and petrochemical complex as it looks to secure its market share in India.
Meanwhile, Saudi Arabia - which is said to be aiming for oil near US$80 to pay for its own crowded policy agenda - is planning to sign a deal to participate in a refinery on India's west coast as part of its strategy to secure sources of consumption for its crude.
Motiva Enterprises LLC, a wholly-owned downstream oil and gas subsidiary of Saudi Aramco, recently signed MoUs worth between US$8 billion - US$10 billion with U.S. companies Honeywell UOP LLC and TechnipFMC plc, in a ceremony in Houston timed to coincide with the official visit to the USA by HRH Crown Prince Mohammed bin Salman of Saudi Arabia.
Speaking on the sidelines of the International Energy Forum, a gathering of oil producers and consumers, Saudi Oil Minister Khalid al-Falih said the OPEC kingpin is trying to ensure that there is a close match of supply and demand "so that markets are not anxious about gluts and over-supply and continued investment will flow into the industry". According to a statement by the Ministry of Petroleum & Natural Gas, Saudi Aramco may also seek to include a strategic partner to co-invest in the project.
Aramco and the conglomerate will now discuss the formation of a joint venture to provide ownership, control and management of the project, which will be capable of processing 1.2m barrels of crude oil per day.
Besides the petrochemicals project, more than the other dozen agreements were signed at the France-Saudi business forum Tuesday.
Last month the Saudi firm awarded more than $8 billion worth of contracts to U.S. firms to boost its United States refinery operations.
Aramco has also pledged billions of dollars for deals in Malaysia and Indonesia in the past year. We went through a part of the process, including the due diligence, but due to political and legal reasons that process was discontinued.
He said Aramco is also keen on venturing into fuel retailing. "We want to be in every neighbourhood, every city, providing energy solutions", he said.
Jadaan said the government had not yet decided whether to list Aramco on the Saudi exchange alone, on a stock market overseas or seek a dual listing. When the government announced plans to sell about 5 percent of Aramco to raise over $100 billion, an IPO was expected by the end of this year, with possible listing list on foreign markets including New York, London and Hong Kong.
Only one person survived after the C-130 Hercules transport aircraft came down in the mountainous Oum El Bouaghi region. Rabat considers Western Sahara an integral part of Morocco and proposes autonomy for the resource-rich territory.
The CBO has become a punching bag for Republicans, who say the office is underestimating the economic benefits of lower taxes . CBO now estimates the 2018 deficit will be $242 billion higher than it had estimated last June, before the tax cuts.
USA stock market has been performing poorly recently on fears of the trade war between the world's two largest economies. In response, China announced $50 billion worth of tariffs on American products last week, ranging from whiskey to trucks.
The baby will be her first child, and the second for Thompson, who has a 1-year-old son named Prince from a previous relationship. Tristan Thompson received a chilly reception from Cleveland Cavaliers fans when entered the game for the first time on Wednesday.
There is also the not insignificant matter of a DFB-Pokal semi-final against Bayer Leverkusen on April 17. Bayern Munich manager Jupp Heynckes dedicates his team's title win to his predecessor Carlo Ancelotti .
He added: "I'm scared, I'm scared on the track when I am with Marquez". "I was scared today when I saw his name on the board". The line was dry but I hit a wet patch and locked the front, released the brake and there was contact.
Also Tuesday, China filed a WTO challenge against Trump's earlier tariff hike on steel and aluminum in a separate dispute. This announcement came a day after Beijing announced plans to impose $50 billion of tariffs on American products.
The US bought more than $500bn in goods from China a year ago and is planning or considering penalties on $150bn of those imports. On Friday, Kudlow said that the U.S. and China are holding "back-channel discussions" to resolve the escalating trade dispute.
Three people have died in IL after using synthetic cannabinoids, more commonly known as " synthetic marijuana " or "fake pot". Local health departments in IL are sharing a warning from the state about the dangers of synthetic cannabinoids.
China now has just one military base in a foreign country - in Djibouti on the Horn of Africa - but has been increasing its presence in the Pacific.
Saudi Arabia, France sign deals worth $18bn
Saudi Crown Prince Salman and French President Macron had a private dinner in a restaurant in the Louvre museum on Sunday. The painting features a bare-breasted woman holding the French tricolour.
Cardi B Reveals Baby Bump During "SNL" Performance
Cardi B , visibly annoyed after remembering the scenario sits silently as her sister surprises her with a brand new Gucci bag. Cardi said she contemplated not having the baby, but made a decision to go through with it because of her success.
Oil prices rally on eased trade tensions
Brent crude oil briefly rose above $70 per barrel, but at the time of writing the price was at $69.83 a barrel, up 1.72 per cent. The price of a Brent barrel surpassed the $70 mark in morning trading on Tuesday, after a rather rocky start to the week.
LG G7 ThinQ Leak
The 6GB RAM variant of the phone could end up being called the LG G7 ThinQ Plus, but we're only guessing, anything is possible. What also appears confirmed is the presence of a dual-camera setup at the back along with a dedicated fingerprint sensor.
Chelsea 1-1 West Ham: Victor Moses Punished
Javier Hernandez came off the bench to score the equalizer for the Hammers to cap off a memorable night for the visitors. It was only West Ham's third touch inside the Chelsea's penalty area.