TESCO NAMED THE NEW BOSS
Tesco Corp., Houston, has named Fernando R. Assing, currently executive vice-president and chief operating officer, as the company's next president and chief executive officer. Assing will succeed Julio M. Quintana, who will retire Jan. 1, 2015.
Assing joined Tesco in 2009 as senior vice-president, marketing and business development, was subsequently promoted to senior vice-president and chief operating officer in 2011, and assumed his current role earlier this year.
Quintana will remain on Tesco's board through his current term. He was proposed for board membership in 2004. Tesco says the transition of responsibilities to Assing is expected to be completed by mid-December.
|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.