Exklusivinterview mit Omar Abu Rashed : Union Investment-Aktienexperte: Ölpreis und König könnten Sa | Diskussion im Forum
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27.3.
Saudi Aramco Takes $3.6 Billion Stake in China Oil Refinery
https://www.bnnbloomberg.ca/saudi-aramco-takes-3-6-billion-s…
...
Saudi Aramco, the world’s biggest oil producer, has agreed to buy a 10% stake in a giant oil complex in China for 24.6 billion yuan ($3.6 billion), in a deal that will significantly expand its refining presence in China.
Aramco will also supply 480,000 barrels of crude oil per day to Rongsheng Petrochemical Co’s refinery in the eastern province of Zhejiang over a 20-year period, according to a statement from the Chinese company. Aramco will provide a credit of $800 million to Rongsheng for the purchase, that statement said. Aramco Overseas Company, a subsidiary of Aramco, will acquire the shares.
Rongsheng owns a 51% equity interest in Zhejiang Petroleum and Chemical Co., which in turn owns and operates the largest integrated refining and chemicals complex in China, with a capacity to process 800,000 barrels per day of crude oil and to produce 4.2 million metric tons of ethylene per year.
“This announcement demonstrates Aramco’s long-term commitment to China and belief in the fundamentals of the Chinese petrochemicals sector,” Mohammed Y. Al Qahtani, Aramco Executive Vice President of Downstream, said in a separate statement.
The deal comes a day after Saudi Aramco and its Chinese partners agreed to build a refining and petrochemical complex in China’s northeast, accelerating a development that was paused during the pandemic.
...
Saudi Aramco Takes $3.6 Billion Stake in China Oil Refinery
https://www.bnnbloomberg.ca/saudi-aramco-takes-3-6-billion-s…
...
Saudi Aramco, the world’s biggest oil producer, has agreed to buy a 10% stake in a giant oil complex in China for 24.6 billion yuan ($3.6 billion), in a deal that will significantly expand its refining presence in China.
Aramco will also supply 480,000 barrels of crude oil per day to Rongsheng Petrochemical Co’s refinery in the eastern province of Zhejiang over a 20-year period, according to a statement from the Chinese company. Aramco will provide a credit of $800 million to Rongsheng for the purchase, that statement said. Aramco Overseas Company, a subsidiary of Aramco, will acquire the shares.
Rongsheng owns a 51% equity interest in Zhejiang Petroleum and Chemical Co., which in turn owns and operates the largest integrated refining and chemicals complex in China, with a capacity to process 800,000 barrels per day of crude oil and to produce 4.2 million metric tons of ethylene per year.
“This announcement demonstrates Aramco’s long-term commitment to China and belief in the fundamentals of the Chinese petrochemicals sector,” Mohammed Y. Al Qahtani, Aramco Executive Vice President of Downstream, said in a separate statement.
The deal comes a day after Saudi Aramco and its Chinese partners agreed to build a refining and petrochemical complex in China’s northeast, accelerating a development that was paused during the pandemic.
...
18.1.
Saudi Aramco Acquires Trading Arm of US Refiner Motiva
https://finance.yahoo.com/news/saudi-aramco-acquires-trading…
...
Saudi Aramco has acquired the trading arm of US refiner Motiva Enterprises LLC as the state-owned oil giant expands its operations in the Americas.
It also set up a new entity, Houston-based Aramco Trading Americas LLC, which will be the regional hub for the Saudi company’s trading arm, it said in a statement. ATA will be the sole supplier and offtaker for Motiva, which owns the biggest refinery in the US, the 630,000 barrel-a-day Port Arthur plant.
The moves are “a giant step towards executing our ambitious global growth strategy,” said Mohammed K. Al-Mulhim, chief executive of Aramco’s trading operations.
Saudi Aramco, the world’s largest oil company, is pushing ahead with plans for an initial public offering of its energy-trading business that could value the unit at more than $30 billion, Bloomberg reported in October.
...
Saudi Aramco Acquires Trading Arm of US Refiner Motiva
https://finance.yahoo.com/news/saudi-aramco-acquires-trading…
...
Saudi Aramco has acquired the trading arm of US refiner Motiva Enterprises LLC as the state-owned oil giant expands its operations in the Americas.
It also set up a new entity, Houston-based Aramco Trading Americas LLC, which will be the regional hub for the Saudi company’s trading arm, it said in a statement. ATA will be the sole supplier and offtaker for Motiva, which owns the biggest refinery in the US, the 630,000 barrel-a-day Port Arthur plant.
The moves are “a giant step towards executing our ambitious global growth strategy,” said Mohammed K. Al-Mulhim, chief executive of Aramco’s trading operations.
Saudi Aramco, the world’s largest oil company, is pushing ahead with plans for an initial public offering of its energy-trading business that could value the unit at more than $30 billion, Bloomberg reported in October.
...
Aramco ist auch ein global player in hydrogen.
...
Roundhill Financial Inc. is planning the TRAX Samsung Shares and TRAX Saudi Aramco Shares ETFs to correspond with the performance of Samsung Electronics Co. and Saudi Aramco, according to a Friday filing with the Securities and Exchange Commission. Both companies lack American depository receipts trading on US exchanges, currently making them difficult for stateside investors to access without global brokerage and clearing relationships.
“This might be an easier way to get exposure,” said Amrita Nandakumar, president of Vident Investment Advisory, in an interview. “Issuers are going to be serving the market and coming up with those names that they think investors are going to find interesting.”
...
15.8.
Single-Stock ETF Craze Targets Inaccessible Non-US Shares
https://finance.yahoo.com/news/single-stock-etf-craze-target…
Roundhill Financial Inc. is planning the TRAX Samsung Shares and TRAX Saudi Aramco Shares ETFs to correspond with the performance of Samsung Electronics Co. and Saudi Aramco, according to a Friday filing with the Securities and Exchange Commission. Both companies lack American depository receipts trading on US exchanges, currently making them difficult for stateside investors to access without global brokerage and clearing relationships.
“This might be an easier way to get exposure,” said Amrita Nandakumar, president of Vident Investment Advisory, in an interview. “Issuers are going to be serving the market and coming up with those names that they think investors are going to find interesting.”
...
15.8.
Single-Stock ETF Craze Targets Inaccessible Non-US Shares
https://finance.yahoo.com/news/single-stock-etf-craze-target…
15.5.
Saudi Aramco: Oil giant sees profits jump as prices surge
https://news.yahoo.com/saudi-aramco-oil-giant-sees-083818039…
...
Saudi Aramco has posted its highest profits since its 2019 listing as oil and gas prices surge around the world.
The state-owned energy giant saw an 82% jump in profits, with net income topping $39.5bn (£32.2bn) in the first quarter.
In a press release, the firm said it had been boosted by higher prices, as well as an increase in production.
...
Aramco's president and chief executive, Amin Nasser, said on Sunday that the company was "focused on helping meet the world's demand for energy that is reliable, affordable and increasingly sustainable".
"Energy security is vital and we are investing for the long-term," he added.
In March, the oil and gas producer pledged to ramp up investment and boost output significantly over the next five to eight years.
Prime Minister Boris Johnson visited the world's biggest oil exporter that month to try to persuade it to release more oil into world markets in the short-term.
...
Aramco also announced on Sunday it would issue 20 billion bonus shares to shareholders - one share for every 10 shares already owned.
Saudi Aramco: Oil giant sees profits jump as prices surge
https://news.yahoo.com/saudi-aramco-oil-giant-sees-083818039…
...
Saudi Aramco has posted its highest profits since its 2019 listing as oil and gas prices surge around the world.
The state-owned energy giant saw an 82% jump in profits, with net income topping $39.5bn (£32.2bn) in the first quarter.
In a press release, the firm said it had been boosted by higher prices, as well as an increase in production.
...
Aramco's president and chief executive, Amin Nasser, said on Sunday that the company was "focused on helping meet the world's demand for energy that is reliable, affordable and increasingly sustainable".
"Energy security is vital and we are investing for the long-term," he added.
In March, the oil and gas producer pledged to ramp up investment and boost output significantly over the next five to eight years.
Prime Minister Boris Johnson visited the world's biggest oil exporter that month to try to persuade it to release more oil into world markets in the short-term.
...
Aramco also announced on Sunday it would issue 20 billion bonus shares to shareholders - one share for every 10 shares already owned.
Trading Spotlight
Antwort auf Beitrag Nr.: 70.215.873 von faultcode am 14.12.21 13:40:18"Ist das fossile Zeitalter doch noch nicht zu Ende?" --> ja
12.5.
Saudi Aramco steigt zum wertvollsten Konzern der Welt auf – Folge der Öl-Rallye
https://www.wallstreet-online.de/nachricht/15450477-saudisch…
12.5.
Saudi Aramco steigt zum wertvollsten Konzern der Welt auf – Folge der Öl-Rallye
https://www.wallstreet-online.de/nachricht/15450477-saudisch…
13.12.
Saudi Oil Minister Says Global Production Could Plunge 30% This Decade
https://finance.yahoo.com/news/saudi-oil-minister-says-globa…
...
“We’re heading toward a phase that could be dangerous if there’s not enough spending on energy,” Oil Minister Abdulaziz bin Salman said in Riyadh. The result could be an “energy crisis,” he said.
The minister said daily oil output may fall by 30 million barrels by 2030. He urged energy companies and investors to ignore “scary messages” about oil and gas.
Prince Abdulaziz’s comments came shortly after the Saudi finance minister made a similar warning.
Their views differ from what most climate activists say is necessary to slow the warming of the planet. The International Energy Agency, which advises rich countries, has called for the cessation of new investment in fossil fuels if the world is to neutralize carbon emissions by 2050.
Saudi Arabia, the world’s biggest oil exporter, is among the few countries still spending billions of dollars to raise production. It’s trying to increase its capacity to 13 million barrels a day from 12 million by 2027.
Global expenditure on oil and gas projects slumped 30% to $309 billion in 2020 and had only recovered slightly this year, according to Riyadh-based think tank the International Energy Forum.
...
Saudi Oil Minister Says Global Production Could Plunge 30% This Decade
https://finance.yahoo.com/news/saudi-oil-minister-says-globa…
...
“We’re heading toward a phase that could be dangerous if there’s not enough spending on energy,” Oil Minister Abdulaziz bin Salman said in Riyadh. The result could be an “energy crisis,” he said.
The minister said daily oil output may fall by 30 million barrels by 2030. He urged energy companies and investors to ignore “scary messages” about oil and gas.
Prince Abdulaziz’s comments came shortly after the Saudi finance minister made a similar warning.
Their views differ from what most climate activists say is necessary to slow the warming of the planet. The International Energy Agency, which advises rich countries, has called for the cessation of new investment in fossil fuels if the world is to neutralize carbon emissions by 2050.
Saudi Arabia, the world’s biggest oil exporter, is among the few countries still spending billions of dollars to raise production. It’s trying to increase its capacity to 13 million barrels a day from 12 million by 2027.
Global expenditure on oil and gas projects slumped 30% to $309 billion in 2020 and had only recovered slightly this year, according to Riyadh-based think tank the International Energy Forum.
...
Antwort auf Beitrag Nr.: 65.719.116 von teecee1 am 16.11.20 11:14:51November 17, 20206:56 AM Updated 10 days ago
Saudi Aramco gets $8 billion with jumbo five-part bond deal
By Yousef Saba | 3 Min Read
DUBAI (Reuters) - Saudi Aramco 2222.SE was set to raise $8 billion from a five-part bond deal on Tuesday as the world's largest oil producer seeks cash after low oil prices dented its finances. ...
Citi C.N, Goldman Sachs GS.N, HSBC HSBA.L, JPMorgan JPM.N, Morgan Stanley MS.N, NCB Capital 1180.SE were hired as active book runners.
Other banks involved in the deal include BNP Paribas BNPP.PA, BOC International 601696.SS, BofA Securities BAC.N, Credit Agricole CAGR.PA, First Abu Dhabi Bank FAB.AD, Mizuho 8411.T, MUFG 8306.T, SMBC Nikko 8316.T and Societe Generale SOGN.PA. ...
https://www.reuters.com/article/aramco-bonds/update-2-saudi-…
...
... 👍 ...👏 ... so, jetzt können wir den Ölpreis etwas steigen lassen ... https://www.loud-cry.com/TERRORISTS/ST-EN/TITANIC.html ...
.........................................................................................................................................................
Saudi Aramco's Landmark IPO Is Costing The Kingdom Billions
by Tyler Durden
Fri, 11/27/2020 - 03:30
Authored by Simon Watkins via OilPrice.com,
The initial public offering (IPO) of Saudi Aramco that was heralded by Crown Prince Mohammed bin Salman (MbS) as being a showcase flotation for raising massive new capital for the Kingdom and anchoring a major expansion of its international equities market presence has proven only to put Aramco into a debt spiral and highlighted a myriad of problems in Saudi Arabia to international investors. Now, Aramco is digging itself further into serious debt through bond issuances simply to pay for the huge dividend payments promised by MbS that were absolutely required to persuade anyone to buy into the omni-toxic IPO. ...
https://www.zerohedge.com/energy/saudi-aramcos-landmark-ipo-…
https://oilprice.com/Energy/Energy-General/Saudi-Aramcos-Lan…
.........................................................................................................................................................
November 24, 20208:41 AM Updated 3 days ago
Saudi Aramco says domestic supplies unaffected by attack on Jeddah plant
By Marwa Rashad | 4 Min Read
JEDDAH (Reuters) - Saudi Aramco said on Tuesday its domestic fuel supplies had not been affected by an attack the previous day by Yemen’s Houthi group on a petroleum products distribution plant in Jeddah, with operations resuming three hours after the event. ...
https://www.reuters.com/article/yemen-security-saudi-aramco/…
Saudi Aramco gets $8 billion with jumbo five-part bond deal
By Yousef Saba | 3 Min Read
DUBAI (Reuters) - Saudi Aramco 2222.SE was set to raise $8 billion from a five-part bond deal on Tuesday as the world's largest oil producer seeks cash after low oil prices dented its finances. ...
Citi C.N, Goldman Sachs GS.N, HSBC HSBA.L, JPMorgan JPM.N, Morgan Stanley MS.N, NCB Capital 1180.SE were hired as active book runners.
Other banks involved in the deal include BNP Paribas BNPP.PA, BOC International 601696.SS, BofA Securities BAC.N, Credit Agricole CAGR.PA, First Abu Dhabi Bank FAB.AD, Mizuho 8411.T, MUFG 8306.T, SMBC Nikko 8316.T and Societe Generale SOGN.PA. ...
https://www.reuters.com/article/aramco-bonds/update-2-saudi-…
...
... 👍 ...👏 ... so, jetzt können wir den Ölpreis etwas steigen lassen ... https://www.loud-cry.com/TERRORISTS/ST-EN/TITANIC.html ............................................................................................................................................................
Saudi Aramco's Landmark IPO Is Costing The Kingdom Billions
by Tyler Durden
Fri, 11/27/2020 - 03:30
Authored by Simon Watkins via OilPrice.com,
The initial public offering (IPO) of Saudi Aramco that was heralded by Crown Prince Mohammed bin Salman (MbS) as being a showcase flotation for raising massive new capital for the Kingdom and anchoring a major expansion of its international equities market presence has proven only to put Aramco into a debt spiral and highlighted a myriad of problems in Saudi Arabia to international investors. Now, Aramco is digging itself further into serious debt through bond issuances simply to pay for the huge dividend payments promised by MbS that were absolutely required to persuade anyone to buy into the omni-toxic IPO. ...
https://www.zerohedge.com/energy/saudi-aramcos-landmark-ipo-…
https://oilprice.com/Energy/Energy-General/Saudi-Aramcos-Lan…
.........................................................................................................................................................
November 24, 20208:41 AM Updated 3 days ago
Saudi Aramco says domestic supplies unaffected by attack on Jeddah plant
By Marwa Rashad | 4 Min Read
JEDDAH (Reuters) - Saudi Aramco said on Tuesday its domestic fuel supplies had not been affected by an attack the previous day by Yemen’s Houthi group on a petroleum products distribution plant in Jeddah, with operations resuming three hours after the event. ...
https://www.reuters.com/article/yemen-security-saudi-aramco/…
... ... Wir müssen den Ölpreis bei $40,- belassen ... die sind so dermaßen blöde ... das Spiel spielen wir noch 1001 Jahre ...
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Aramco Turns to Bonds to Help Fund $75 Billion Dividend
Matthew Martin and Ken McCallum
Mon, November 16, 2020, 10:44 AM GMT+1·3 min read
(Bloomberg) -- Saudi Aramco, the world’s biggest oil company, is set to return to the bond markets for the first time since April of last year as it seeks to fund a $75 billion dividend commitment.
Aramco, which hired banks including Goldman Sachs Group Inc. for the sale, needs to raise debt after slumping crude prices caused profit to fall by 45% in the third quarter. That’s left it unable to generate enough cash to fund the investor payouts, almost all of which go to the Saudi government, which needs the money to plug a widening budget deficit.
The company could raise about $6 billion, according to two people familiar with the deal. Aramco media officials didn’t immediately respond to requests for comment.
Aramco has slashed spending, cut jobs, ...
https://finance.yahoo.com/news/saudi-aramco-turns-bonds-help…
https://www.reuters.com/article/aramco-bonds/update-3-saudi-…
... Wir müssen den Ölpreis bei $40,- belassen ... die sind so dermaßen blöde ... das Spiel spielen wir noch 1001 Jahre ............................................................................................................................................................
Aramco Turns to Bonds to Help Fund $75 Billion Dividend
Matthew Martin and Ken McCallum
Mon, November 16, 2020, 10:44 AM GMT+1·3 min read
(Bloomberg) -- Saudi Aramco, the world’s biggest oil company, is set to return to the bond markets for the first time since April of last year as it seeks to fund a $75 billion dividend commitment.
Aramco, which hired banks including Goldman Sachs Group Inc. for the sale, needs to raise debt after slumping crude prices caused profit to fall by 45% in the third quarter. That’s left it unable to generate enough cash to fund the investor payouts, almost all of which go to the Saudi government, which needs the money to plug a widening budget deficit.
The company could raise about $6 billion, according to two people familiar with the deal. Aramco media officials didn’t immediately respond to requests for comment.
Aramco has slashed spending, cut jobs, ...
https://finance.yahoo.com/news/saudi-aramco-turns-bonds-help…
https://www.reuters.com/article/aramco-bonds/update-3-saudi-…
Antwort auf Beitrag Nr.: 65.578.706 von teecee1 am 03.11.20 11:02:26Oil Prices Are Set To Go Higher Next Year
By David Messler - Nov 04, 2020, 7:00 PM CST
As predicted, a second wave of COVID-19 is wreaking havoc on the world economy with many European nations contemplating new shut downs. It looks like it will be a tough winter for the oil markets. In a recent article carried in Reuters, two energy trading firms, Vitol, and Trafigura offered dour forecasts for the next few months. Trafigura’s Executive Chairman, Jeremy Weir offered a demand forecast of a decline of a million BOPD in the U.S. and up to 1.5 mm in Europe as a result, with global demand through the winter at 92 mm BOPD. He made an additional general comment in assessing the bleak near term outlook.
“As we move now into what we consider the second wave, our anticipation is to see for further demand destruction... So it’s really not looking good for the foreseeable future.” ...
https://oilprice.com/Energy/Oil-Prices/Oil-Prices-Are-Set-To…
CORONAVIRUS
WHO BOSS EXPOSED: The Ethiopian Terrorist In Charge Of The World Health Organization
By Ed Howard, Editor-At-Large
Posted on April 6, 2020
https://www.politicalite.com/coronavirus/who-boss-exposed-th…
..........................................................................................................................................................
... ... Technik vs Verwaltung ... https://wirtschaftslexikon.gabler.de/definition/verwaltung-4… ...
Abu Dhabi’s Wealth Fund Invests in SoftBank-Backed "Tech" Startup
Adveith Nair, Bloomberg News
(Bloomberg) -- Mubadala Investment Co. led a $700 million funding round for a technology startup backed by SoftBank Group Corp., as the Abu Dhabi wealth fund diversifies its portfolio away from oil.
The fund said on Wednesday it invested in Reef Technology Inc., a startup that manages hubs in parking lots used for food delivery and other services such as Covid-19 testing. It was joined by SoftBank Vision Fund, Oaktree, UBS AM and Target Global, Mubadala said on Twitter.
Miami-based Reef was exploring a capital raise to fund its expansion, ...
Mubadala, which manages $232 billion in assets, is among Gulf sovereign funds plowing their oil and natural gas wealth into technology to lessen their reliance on crude and help diversify their economies.
... The fund will also invest 200 million euros ($234 million) in German pharmaceutical company Evotec SE. ...
... COVID-19 Fraud ... 💰 ...
https://www.bnnbloomberg.ca/abu-dhabi-s-wealth-fund-invests-…
..........................................................................................................................................................
China’s Oil Imports Are Falling From Record Highs
By Tsvetana Paraskova - Nov 04, 2020, 12:00 PM CST
China’s crude oil imports have fallen in recent months from their record high of nearly 13 million barrels per day (bpd) in June, although imports continue to be considerably higher compared to last year’s monthly levels, data from the Joint Organisations Data Initiative (JODI) showed on Wednesday.
Having hit an all-time high in June, Chinese crude oil imports have declined over two consecutive months by 1.77 million bpd to 11.21 million bpd in August, ...
https://oilprice.com/Energy/Energy-General/Chinas-Oil-Import…
.........................................................................................................................................................
Is Wall Street Cutting Its Fossil Fuels Losses?
By Alex Kimani - Nov 04, 2020, 2:00 PM CST
The global energy sector is at a major bifurcation point, with the energy revolution having grown into an unstoppable force now. The value of fossil fuel investments has been cut in half in the year-to-date, while renewable energy remains on the ascendancy and the only energy sector that’s still growing. For oil and gas investors who have been left holding the bag, here’s some advice: ...
https://oilprice.com/Energy/Energy-General/Is-Wall-Street-Cu…
.........................................................................................................................................................
Aramco’s Profit Drop Is A Dire Warning For Saudi Arabia
By Cyril Widdershoven - Nov 04, 2020, 6:00 PM CST
By reporting a 44.6% decrease in profits in Q3 2020, Aramco has put a major damper on Saudi Arabia’s economic diversification strategies and overall stability. Saudi Aramco reported that its Q3 2020 profits decreased to Riyal 44.21 billion ($11.79 billion) from Riyal 79.84 billion ($21.29 billion) in Q3 2019. Worryingly, even those disappointing financials were helped by several royalty changes that boosted profits. The results from OPEC’s largest oil producer contradict the optimism being expressed by the oil cartel’s leaders in the media. While the results are arguably better than those reported by IOCs such as Shell, BP, Total, and Chevron, they are still very disappointing. The upcoming Q4 results are expected the be even lower. It is now apparent that Saudi Arabia is in serious economic trouble. Looking at this most recent report, ...
https://oilprice.com/Energy/Crude-Oil/Aramcos-Profit-Drop-Is…
By David Messler - Nov 04, 2020, 7:00 PM CST
As predicted, a second wave of COVID-19 is wreaking havoc on the world economy with many European nations contemplating new shut downs. It looks like it will be a tough winter for the oil markets. In a recent article carried in Reuters, two energy trading firms, Vitol, and Trafigura offered dour forecasts for the next few months. Trafigura’s Executive Chairman, Jeremy Weir offered a demand forecast of a decline of a million BOPD in the U.S. and up to 1.5 mm in Europe as a result, with global demand through the winter at 92 mm BOPD. He made an additional general comment in assessing the bleak near term outlook.
“As we move now into what we consider the second wave, our anticipation is to see for further demand destruction... So it’s really not looking good for the foreseeable future.” ...
https://oilprice.com/Energy/Oil-Prices/Oil-Prices-Are-Set-To…
CORONAVIRUS
WHO BOSS EXPOSED: The Ethiopian Terrorist In Charge Of The World Health Organization
By Ed Howard, Editor-At-Large
Posted on April 6, 2020
https://www.politicalite.com/coronavirus/who-boss-exposed-th…
..........................................................................................................................................................
...
... Technik vs Verwaltung ... https://wirtschaftslexikon.gabler.de/definition/verwaltung-4… ...Abu Dhabi’s Wealth Fund Invests in SoftBank-Backed "Tech" Startup
Adveith Nair, Bloomberg News
(Bloomberg) -- Mubadala Investment Co. led a $700 million funding round for a technology startup backed by SoftBank Group Corp., as the Abu Dhabi wealth fund diversifies its portfolio away from oil.
The fund said on Wednesday it invested in Reef Technology Inc., a startup that manages hubs in parking lots used for food delivery and other services such as Covid-19 testing. It was joined by SoftBank Vision Fund, Oaktree, UBS AM and Target Global, Mubadala said on Twitter.
Miami-based Reef was exploring a capital raise to fund its expansion, ...
Mubadala, which manages $232 billion in assets, is among Gulf sovereign funds plowing their oil and natural gas wealth into technology to lessen their reliance on crude and help diversify their economies.
... The fund will also invest 200 million euros ($234 million) in German pharmaceutical company Evotec SE. ...
... COVID-19 Fraud ... 💰 ...
https://www.bnnbloomberg.ca/abu-dhabi-s-wealth-fund-invests-…
..........................................................................................................................................................
China’s Oil Imports Are Falling From Record Highs
By Tsvetana Paraskova - Nov 04, 2020, 12:00 PM CST
China’s crude oil imports have fallen in recent months from their record high of nearly 13 million barrels per day (bpd) in June, although imports continue to be considerably higher compared to last year’s monthly levels, data from the Joint Organisations Data Initiative (JODI) showed on Wednesday.
Having hit an all-time high in June, Chinese crude oil imports have declined over two consecutive months by 1.77 million bpd to 11.21 million bpd in August, ...
https://oilprice.com/Energy/Energy-General/Chinas-Oil-Import…
.........................................................................................................................................................
Is Wall Street Cutting Its Fossil Fuels Losses?
By Alex Kimani - Nov 04, 2020, 2:00 PM CST
The global energy sector is at a major bifurcation point, with the energy revolution having grown into an unstoppable force now. The value of fossil fuel investments has been cut in half in the year-to-date, while renewable energy remains on the ascendancy and the only energy sector that’s still growing. For oil and gas investors who have been left holding the bag, here’s some advice: ...
https://oilprice.com/Energy/Energy-General/Is-Wall-Street-Cu…
.........................................................................................................................................................
Aramco’s Profit Drop Is A Dire Warning For Saudi Arabia
By Cyril Widdershoven - Nov 04, 2020, 6:00 PM CST
By reporting a 44.6% decrease in profits in Q3 2020, Aramco has put a major damper on Saudi Arabia’s economic diversification strategies and overall stability. Saudi Aramco reported that its Q3 2020 profits decreased to Riyal 44.21 billion ($11.79 billion) from Riyal 79.84 billion ($21.29 billion) in Q3 2019. Worryingly, even those disappointing financials were helped by several royalty changes that boosted profits. The results from OPEC’s largest oil producer contradict the optimism being expressed by the oil cartel’s leaders in the media. While the results are arguably better than those reported by IOCs such as Shell, BP, Total, and Chevron, they are still very disappointing. The upcoming Q4 results are expected the be even lower. It is now apparent that Saudi Arabia is in serious economic trouble. Looking at this most recent report, ...
https://oilprice.com/Energy/Crude-Oil/Aramcos-Profit-Drop-Is…
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