The oil company’s investment in Sabic will infuse money into a Saudi sovereign wealth fund after a planned initial public offering of Aramco faltered. Source: NYT > Business – STANLEY REED and MICHAEL J. de la MERCED
Norway Moves to Sell Some Oil and Gas Shares From Wealth Fund
The proposal regarding the country’s $1 trillion of holdings could increase concerns among investors about the risks of owning such stocks. Source: NYT > Business – STANLEY REED
Shell May Face Charges in Netherlands Tied to Nigerian Oil Deal
The Dutch prosecutor’s office told Shell it was preparing criminal charges against the company over a $1.3 billion oil agreement in Nigeria in 2011. Source: NYT > Business – STANLEY REED
Oil Companies May Be Complicit in Atrocities in South Sudan, U.N. Panel Says
Despite a peace agreement, war crimes continue, including mass rape and forcible displacement of thousands of people, a rights commission reported. Source: NYT > Business – NICK CUMMING-BRUCE
Millions Flow From Venezuelan Oil Firm to Small Bulgarian Bank
Bulgarian officials, tipped off by the United States, froze accounts and are investigating possible laundering of money from the battered state oil company. Source: NYT > Business
U.S. and Germany Defuse an Energy Dispute, Easing Tensions
In a rare show of accord, Berlin promised to help build a port for importing liquid gas. Washington is toning down its opposition to a pipeline from Russia. Source: NYT > Business