MORGAN STANLEY SOLD TO ROSNEFT
Russia's top crude oil producer Rosneft said on Tuesday it aimed to complete deal to buy the majority of global physical oil trading operations from Morgan Stanley in the second half of 2014, as expected.
Some industry watchers have expressed doubts the deal will go ahead due to Western sanctions on Russian officials, including Rosneft's head Igor Sechin, over the Ukraine crisis.
Rosneft said in emailed comments that the deal with Morgan Stanley was going to plan.
"The implementation of the deal is going according to the agreed schedule between the companies, including in terms of filing the documentation to the regulatory bodies," Rosneft said.
Morgan Stanley sold the majority of its global physical oil trading operations to Rosneft in December, becoming the latest Wall Street firm to dispose of a major part of its commodity business. The parties did not disclose the price.
Morgan Stanley planned to submit the sale for review by the U.S. Committee on Foreign Investment (CFIUS), an inter-agency executive branch panel that examines foreign investment for potential threats to national security, a source familiar with the matter said last December.
It was not clear whether the submission have been made.
The sale is subject to regulatory approvals in the United States, the European Union and certain other jurisdictions.
|July, 16, 11:05:00|
|July, 16, 11:00:00|
|July, 16, 10:55:00|
|July, 16, 10:50:00|
|July, 16, 10:45:00|
|July, 16, 10:40:00|
AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.