SINOPEC USE $17.5 BLN
Asia's largest oil refiner Sinopec Corp, which on Thursday posted a 12 percent fall in quarterly earnings, aims to use part of $17.5 billion in proceeds from a stake sale to boost shale gas production and lower debt.
Sinopec unveiled a plan in September to sell the stake in its retail business, marking China's biggest privatisation push since President Xi Jinping came to power almost two years ago.
Chen Yang, head of Sinopec's investor relations, said in a conference call with analysts on Friday that the state-run oil company planned to use the proceeds partly to boost shale gas production, pay down debt and…
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US crude oil inventories for the week ended Mar. 15, excluding the Strategic Petroleum Reserve, decreased 9.6 million bbl from the previous week, data from the US Energy Information Administration showed.
Saudi Arabia will supply its clients with significantly less oil than they requested in April, extending deeper-than-agreed oil production cuts into a second month, a Saudi official familiar with the policy said.
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U.S. FRB - Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent.