- a $9 billion stake in Russia's state-run oil producer came on the market
- it was expected that China's CEFC Energy Co would grab it
- at the "last minute", CEFC begged out -- and "begged" might be the exact right word -- it's got a huge problem with debt
- Qatar Investment Authority swooped in to take that stake
- Qatar Investment Authority: Qatar and the mining giant Glencore Plc
- deal cements Doha's links with Moscow
- Qatar facing isolation from Saudi Arabia; other Gulf countries
- Rosneft stakeholders:
- Russia, 50%
- UK, BP: 20%
- Qatar: 19%
- Rosneft:
- produces 4.5 million bopd
- produces more oil than any other publicly traded company in the world
- exports 77 million tons of natural gas annually
- accounts for 26% of global supply of natural gas
- plans to boost exports to 110 million tons by 2025
- exploring for natural gas around the world, including Morocco, Cyprus, elsewhere
- now has a $320 billion sovereign wealth fund
- has won rights to the 2022 soccer World Cup
- BMOC: Saad Sherida Al-Kaabi or simply "Al-Kaabi"
Politics: could not have worked out better. The face of the US Congress: Maxine Powers and Nancy Pelosi.
Coal? I thought we had seen the last of coal in New England. But for the first time in a long time, I see "coal" back on the ISO New England charts. Link here:
China: some nice data points in this article for the archives. Nothing that hasn't been said before.
Shale oil: for Art Berman. Nothing that hasn't been said before. Story over at oilprice.
Investing 101: MLPs. Again, story over at oilprice.
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