Regional News

  Bloomberg Saudi Arabia is trying to make sure crude buyers in the world’s biggest oil market aren’t lured by rivals while it curbs output as promised. Saudi Arabian Oil Co. will sell full volumes of contractual supply for March to Asian refiners, according to people with knowledge of the matter who asked not to be identified because the information …

  Reuters Creditors have agreed in principle to Saudi Binladin Group’s (SBG) request for a two-year extension on a 10 billion riyal ($2.7 billion) Islamic credit facility used to pay for delayed building work at the Grand Mosque in Mecca, sources said. Reuters reported last month that SBG had asked a syndicate of banks for the credit to be extended …

  Bloomberg Total SA raised its dividend by 1.6 percent and said it may give the go-ahead for almost a dozen new projects in the next 18 months after fourth-quarter profit beat analysts’ estimates. “We’re going to propose to increase the dividend as we have confidence in the future,” Chief Executive Officer Patrick Pouyanne told reporters in Paris. “My goal …

  Bloomberg Norway’s economic growth picked up slower than anticipated in the fourth quarter as western Europe’s biggest crude producer emerges from a protracted slump in its oil industry. Mainland gross domestic product, which excludes oil, gas and shipping, grew 0.3 percent from the previous quarter, Statistics Norway said on Thursday. Economists surveyed by Bloomberg had estimated a gain of …

  Bloomberg Remittances from Egyptians working abroad are surging and foreigners bought more than $250 million in local assets during the beginning of the week, further signs of growing confidence in the nation’s economy after it floated the currency and secured a $12 billion IMF loan. Expatriate workers sent home $4.6 billion in the fourth quarter of 2016, up 12 …

  Reuters Pressure on Qatar’s state finances is easing because of higher oil prices and the government may not need to issue an international bond this year, but it is still seeking ways to save money, finance minister Ali Sherif al-Emadi said. “We may not issue a bond this year given where oil prices are – right now we are …

  Bloomberg Qatar Petroleum is exploring for oil and gas in Cyprus and Morocco as part of a strategy to expand the tiny Gulf emirate’s global energy investments. The world’s biggest producer of liquefied natural gas known as QP must cope with local limits on growth as it seeks to expand its LNG business and increase its production and reserves …

  Bloomberg The oil-trading boom that cushioned the profits of Royal Dutch Shell Plc and BP Plc through the price slump of 2015 and early 2016 is over. BP said it made a “small” loss trading oil in the fourth quarter, while Shell last week said trading profits “flattened” in late 2016. The fall off in trading contributed to worse-than-expected …

  Bloomberg Donald Trump and global crude producers are set to take prices on a bumpy ride this year, according to the world’s biggest independent oil trader. As investors are kept on tenterhooks over US policies and whether OPEC and other nations will curb output as pledged, global benchmark Brent crude may vacillate between $52 and $62 a barrel, according …

  Reuters Turkey has transferred government stakes worth billions of dollars in Turkish Airlines, major banks and fixed-line operator Turk Telekom to a sovereign wealth fund set up last year to help finance big-ticket infrastructure projects. Ankara has ambitious plans for the fund, established last August with initial capital of 50 million lira ($13.6 million). It wants the fund to …