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2017-03-16 18:55:00

CHINA'S INVESTNENT TO SAUDI

CHINA'S INVESTNENT TO SAUDI

BLOOMBERG - China's in talks with Saudi Arabia for its sovereign wealth fund and largest energy company to invest in the initial public offering of the Middle East nation's state oil producer, according to people with knowledge of the matter.

The nation's $814 billion China Investment Corp. would be the principle investor in the planned flotation by Saudi Arabian Oil Co., according to the people, who asked not to be identified because the talks are private. China National Petroleum Corp. may also invest in the IPO, they said. No formal agreement has been reached, according to the people.

Saudi King Salman bin Abdulaziz is visiting Beijing this week as the world's biggest oil exporter gears up for what may be the largest-ever initial public offering. Hong Kong is among markets including London, New York, Singapore and Tokyo that have been identified as possible venues for the sale of 5 percent of the company, which is valued between $400 billion and $2 trillion.

China, the world's biggest energy user, is growing more reliant on overseas crude as its domestic reserves dwindle and economic growth spurs higher demand. President Xi Jinping said in a meeting with King Salman that the nations should step up energy cooperation, Xinhua News Agency reported Thursday, adding that the countries signed $65 billion worth of memorandums of understanding during the visit.

"It is a win-win if China can take a sizable stake in the Aramco IPO," said Gordon Kwan, head of Asia-Pacific oil and gas research at Nomura Holdings Inc. in Hong Kong. "China needs to ensure oil supplies from Saudi Arabia, given the structural decline of the country's aging mature fields. Saudi Arabia can ensure market share in China, which might want to insist Aramco be listed in Hong Kong instead of London or the U.S."

Anchor Investments

A spokesman for Dhahran-based Aramco said the company doesn't comment on rumor or speculation. A spokesman for CNPC in Beijing also declined to comment, while CIC didn't respond to an emailed request for comment.

Chinese officials last year pitched a dual listing for the oil giant, known as Saudi Aramco, that would place the shares on both the Hong Kong and Saudi exchanges in return for anchor investments from Chinese funds, Bloomberg News reported.

Energy accounted for about 5 percent of CIC's holdings in overseas publicly traded companies at the end of 2015, according to its most recent annual report. Chief Risk Officer Zhao Haiying said earlier this month that the fund intends to raise its share of alternative investments, such as real estate, private equity and hedge funds, over the medium- to long-term.

Saudi Aramco has partnered with units of China Petrochemical Corp., known as Sinopec, on projects in both countries, while it has been in talks with CNPC's listed unit PetroChina Co. on a refinery in China's Yunnan province. The Middle Eastern company signed a combined $13 billion of refining deals during the king's recent visit to Malaysia and Indonesia as it seeks to secure long-term outlets for its crude before the IPO.

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Earlier:

 

CHINA: 

CHINA'S USE OF METHANOL UP  

CHINA OIL IMPORTS DOWN  

OIL & GAS WEAKNESS  

SOUTH CHINA SEA TALKS  

CHINA'S RENEWABLE ENERGY 

 

 

SAUDI:  

SAUDI CUT PRICES  

SAUDI'S PRICES UP  

OPEC, RUSSIA CUTS  

SAUDI CUTS OIL PRODUCTION: 486 TBD  

SAUDI - RUSSIAN ALLIANCE

 

 

 

 

 

 

 

Tags: SAUDI, OIL, CHINA

Chronicle:

CHINA'S INVESTNENT TO SAUDI
2018, February, 16, 23:15:00

DEWA INVESTS $22 BLN

AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.

CHINA'S INVESTNENT TO SAUDI
2018, February, 16, 23:10:00

TRANSCANADA NET INCOME $3.0 BLN

TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.

CHINA'S INVESTNENT TO SAUDI
2018, February, 16, 23:05:00

RUSSIAN NUCLEAR FOR CONGO

ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.

CHINA'S INVESTNENT TO SAUDI
2018, February, 16, 23:00:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.1%

FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.

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