Saudi Arabia boosts investment in Russian economy

Saudi Arabia boosts investment in Russian economy

Russian Federation and Saudi Arabia are expected to finalise a major agreement in the LNG sector as the oil market's biggest producers look to boost their co-operation in the face of growing prominence of the USA shale sector.

Russia, according to the BP Statistical Review of World Energy 2017, has the world's second-largest reserves of natural gas after Iran and is the world's second-largest producer of the fuel, which is being increasingly substituted for oil in Saudi stations.

Dmitriev told Reuters last month that there was great interest in the Aramco IPO from Russian pension funds and Chinese partners.

Russian banks and a joint Russia-China investment fund are eager to participate in Saudi company Aramco's initial public offering (IPO).

Saudi officials have said the government plans to sell up to 5 percent of Aramco shares on one or more foreign exchanges in addition to Riyadh.

Donald Trump Jr. Attacks Olympian Adam Rippon On Twitter
Donald Trump Jr . used Twitter to launch an unprovoked attack on U.S. Olympic figure skater Adam Rippon on Tuesday night.

"We have a Russia-China investment fund, and through that Russia-China investment fund we see a major interest in the Aramco IPO from a number of leading Chinese institutions", Dmitriev said.

Saudi Arabia is planning to double its production of natural gas during the next 10 years to a target of 23 billion cubic feet per day, Saudi Minister of Energy, Industry and Mineral Resources Khalid Falih said on Wednesday.

The funds have invested in petrochemicals, energy, transport infrastructure and retail. "We believe this is very good for, once again, thinking jointly about oil", he said.

An announcement is expected later on Wednesday on a partnership between Aramco and a liquefied natural gas project in Russia, Dmitriev said. "Therefore the role that RDIF plays in Russian Federation and the role that PIF [the Public Investment Fund of Saudi Arabia - TASS] and Saudi Aramco play from our side, introducing companies to each other, pursuing investment deals, de-risking investment through better information, making sure that market exists for their products can not be overemphasized", the minister noted.

Falih said he was confident that cooperation between the Organization of the Petroleum Exporting Countries (OPEC) and its non-OPEC allies will continue to stabilize oil markets. Saudi Arabia and Russian Federation have through 2017 undertaken the lion's share of output curbs of around 1.8 million barrels per day (bpd) and have agreed to an extension to the end of 2018.

Related News:

  • Free Presidents' Day screening : Get Out

    Free Presidents' Day screening : Get Out

    It's definitely a film that plays better with an audience. "Believe me, " Get Out " is a movie best seen in theaters". All screenings start at 7 p.m., and it's recommended you get their early.
    European Union  growth approaches pre-crisis levels

    European Union growth approaches pre-crisis levels

    Gross domestic product is forecast to advance 0.4% on quarter in three months to December. At 5.00 am ET, Eurostat is slated to release euro area GDP and industrial production data.
    The Evil Within 2 free update adds first-person mode

    The Evil Within 2 free update adds first-person mode

    Some scenes just didn't work, so it jumps back and forth a bit to third-person in certain instances. The implementation of the first person mode has been a highly requested feature since launch.
  • Are Insiders Purchasing Their Own Shares of General Electric Company (NYSE:GE)?

    Are Insiders Purchasing Their Own Shares of General Electric Company (NYSE:GE)?

    It is negative, as 112 investors sold GE shares while 818 reduced holdings. 32 funds opened positions while 82 raised stakes. Also, insider Alexander Dimitrief acquired 2,689 shares of the firm's stock in a transaction on Monday, January 29th.
    TMO Made Mistake In Not Awarding Wales Try

    TMO Made Mistake In Not Awarding Wales Try

    Hughes is expected to replace Sam Simmonds, whose shoulder injury rules him out of the games against Scotland and France . Wales assistant coach Rob Howley said it was "disappointing" but that "there was plenty of time after that decision".
    BBB Bureau Briefs: Valentine's Day Scams

    BBB Bureau Briefs: Valentine's Day Scams

    Cut off contact if someone starts asking you for information like credit card, bank, or government ID numbers. You can perform a reverse image search to see if the profile photo has been used on other websites .
  • Lena Dunham has full hysterectomy

    Lena Dunham has full hysterectomy

    CNN reported Dunham's essay is titled " The Painful Truth ". "My uterus is worse than anyone could have imagined", she wrote. Last April, she said she was " endometriosis-free " after undergoing surgery to move her ovaries away from her rectal wall.
    Ever Footage Released of Antarctic Iceberg '4 Times the Size of London'

    Ever Footage Released of Antarctic Iceberg '4 Times the Size of London'

    A giant iceberg, one of the largest one to date, broke off the Antarctic continent on July 12th, 2017. They will also record any marine mammals and birds that might have moved into the area.
    Shaun White tearfully fell into his parents' arms after winning gold medal

    Shaun White tearfully fell into his parents' arms after winning gold medal

    Hirano earned the silver medal in men's halfpipe, matching his result from the last Olympics, and James ended up with the bronze. Red Gerard and Jamie Anderson won the men's and women's slopestyle contests, and Chloe Kim won the women's halfpipe event.
  • Teck Resources down despite better profit in Q4

    CIBC started coverage on Teck Resources in a report on Friday, November 17th. 3 analysts gave its stock an Outperform rating. Stocks with high EPS growth rates compared with year-ago levels suggest a company has products or services in strong demand.
    Theresa May Calls on Northern Irish Parties to Make 'Final Push'

    Theresa May Calls on Northern Irish Parties to Make 'Final Push'

    A spokesman for Mr Varadkar said he and Mrs May would assess the state of play in the negotiations between the parties. We can not and will not be held to ransom by those who have refused to form an Executive for over thirteen months".
    Bristol Palin's Husband Dakota Meyer Reportedly Filed for Divorce

    Bristol Palin's Husband Dakota Meyer Reportedly Filed for Divorce

    Palin has a third child, Tripp, and the pregnancy by Levi Johnston was announced during the 2008 Republican National Convention. However, by the time December 25, 2017 rolled around, Bristol began posting the rest of her photos without her wedding ring.


Most liked

Chipotle shares jump as new chief sparks hope of quicker turnaround
Shares in Chipotle surged more than 11% in after-hours trading in NY . (NYSE: CMG ) rating on Wednesday, September 21. The forecast of 2 surveyed investment analysts covering the stock advises investors to Buy stake in the company.

Warring Matabele ant soldiers 'retrive injured from battlefield'
For the purposes of the study, the researchers conducted some experiments in the field, ones that included severely injured ants. To study the insects more closely, the researchers moved six colonies into artificial nests at the national park's research lab.

Susan Rice Email: Obama Met With FBI/DOJ About Russia, Discussed Steele Dossier
The partially unclassified email appears to detail a meeting that took place on January 5, 2017, two weeks before Trump's inauguration.

Dead Space is free on Origin
But the original Dead Space is still a cracking action horror game that's worth your time, and it's free right now. Gamers loved it too, with over 2 million copies sold and several additional games made carrying its name.

Australian deputy PM Barnaby Joyce told to resign after sex scandal
Some Nationals MPs have also spoken out against Mr Joyce, questioning the handling of his marriage breakdown and new relationship. Nationals deputy leader Bridget McKenzie was effusive when asked about the leader's future.

Kuwait pledges $2 billion in loans, investments to Iraq
Neighbouring Kuwait said earlier on Wednesday it would lend Iraq $1 billion and commit a further $1 billion in investments. Saudi Arabia said it would allocate $1 billion for investment projects in Iraq and $500 million to support Iraqi exports.

Millions of Android devices affected by crypto-mining malware, report
According to Malwarebytes , the campaign could have started in November past year but was first observed in January. Until a user enters the code, the smartphone or tablet continues mining Monero, damaging the device's processor.

USA stock-index futures turn lower after CPI data
All prices outside of food and energy - known as core inflation, a steadier measure - rose 1.8% compared with a year ago. Higher interest rates make it more expensive for consumers and businesses to borrow and spend and could slow growth.

IRS warns of new scam involving erroneous tax refunds
They ask the individual to write a check, refunding the money back to their "fake" collection agency. The IRS says it has been urging professional tax preparers to step up security of clients' files.

Murdered 8-year-old's mom tearfully recalls night she met Donald Smith
The mother testified that she was wary, but accepted because Smith assured her his wife would meet them at the Walmart. She says she became anxious when Smith's wife still hadn't shown up at the store by 10 p.m.

House Republicans Open Investigation Into White House Handling Of Porter Scandal
Gowdy said. "The chronology is not favorable for the White House". "They clearly have work to do to fix their vetting system", he said.

Saakashvili Arrives In Netherlands After Expulsion From Ukraine
He is also wanted by authorities in Georgia on charges of abuse in office - which he also strenuously denies. In July 2017, Saakashvili lost his Ukrainian citizenship under a decree of the Ukrainian president.

Snapchat introduces audience insights for creators
One of the main complaints, by the way, is that users have seen their Story views drastically plummet since the redesign went live.

Winter Olympics 2018: Snowboarder Yuto Totsuka taken to hospital after ugly crash
But the competition had to be paused after Totsuka hit the lip of the halfpipe and landed awkwardly before sliding to the bottom. On his second run of the final, Totsuka dropped in and went for his first jump, twisting several times in the air.

NCAA denies Notre Dame's appeal, wins from 2012 and 2013 still vacated
The teams meet at Compton Family Ice Arena on Friday, Feb. 16, at 7:35 p.m.in Notre Dame's annual White Out/Wear White game. When the NCAA forces a team to vacate its wins, there is no impact on the records for the teams it defeated.