Top Chinese energy firms have mandated investment banks Morgan Stanley and Goldman Sachs to act as advisors for multi-billion dollar deals transferring key oil and gas pipeline assets into a national energy infrastructure giant, four sources said.
The pandemic is hitting hard economies worldwide, but it is also an opportunity to jumpstart an economic recovery to achieve the net-zero emission ambition of the United Kingdom, according to the Committee on Climate Change (CCC), the UK's top advisory panel on climate change.
With a projected budget breakeven oil price of US$69.1 per barrel of Brent this year, according to IMF figures, but accounting for around 96.8 per cent of the UAE’s 98 billion barrels of proved oil reserves (the seventh-largest in the world), Abu Dhabi’s post-oil war position is not quite as bad as many of its OPEC and OPEC+ fellow members.
It was once the center of America’s shale boom -- a vast reservoir of crude unleashed by hydraulic fracturing and horizontal drilling, turning North Dakota into the second-largest oil producer in the U.S. and helping transform the nation into the world’s largest supplier.
The shale industry is getting at least $2.4 billion in loans from the U.S. government’s Paycheck Protection Program aimed at helping businesses that are struggling with the impact of the coronavirus pandemic.
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