KHOBAR / Reuters An advisory council to Saudi Arabia’s government has asked the kingdom’s securities regulator to study the impact of listing Saudi Aramco on the local bourse amid concern that a huge initial public offering could damage the market. The Shura Council’s fiscal committee has also asked the Capital Market Authority (CMA) to make sure that the stock market’s …

Bloomberg BP Plc, the oil major that sold a third of its assets after a disastrous rig accident in 2010, said it won’t be left behind as the industry boosts investment in new energy. “We haven’t made really big bets but we’re scanning and screening everything” to assess renewables opportunities, Chief Executive Officer Bob Dudley said. BP must “get its …

Bloomberg Iceland’s hope of finding oil offshore its coast is fading after China and Norway decided to back out of the island nation’s only remaining exploration license. Cnooc Ltd., China’s state-controlled producer, and Petoro AS, Norway’s state-owned oil company, decided to relinquish their interest in the license, Iceland’s National Energy Authority said in a statement. Their junior partner, Eykon Energy …