November 29, 2017

UAE selling 1.25 billion to 2.5 billion shares From Reuters ABU DHABI (Reuters) – Abu Dhabi National Oil Co’s (ADNOC) unit set an indicative price range for its initial public offering (IPO) that could raise as much as $2 billion to become the biggest listing in the United Arab Emirates (UAE) since 2007. ADNOC Distribution set an indicative price range

From Reuters MOSCOW (Reuters) – The Russian government has approved a new, profit-based tax on the oil industry but it is not expected to be introduced before 2019, a year later than previously thought, the energy ministry said on Thursday. Taxes on the industry are currently based on production – via a mineral extraction tax – and exports. Companies have

From Reuters * Gulf Energy is Thailand’s third-biggest power company * More Thai IPOs expected next year, including PTT’s retail arm * Shares to be listed on Dec.6 (Adds fund manager comments, Thai IPO milestones) BANGKOK,  (Reuters) – Thailand’s Gulf Energy Development Pcl has raised $733 million after its initial public offering priced at the top end of expectations –

From Reuters DHAHRAN, Saudi Arabia (Reuters) – State oil giant Saudi Aramco [IPO-ARMO.SE] and petrochemical producer Saudi Basic Industries Corp (SABIC) signed a preliminary deal on Sunday to build a $20 billion complex to convert crude oil to chemicals. The project, which the partners said would be the largest crude-to-chemicals facility in the world and the first in the kingdom,