Russia would provide finance for the project annually of between $3 billion and $4 billion
North African-focused oil and gas company SDX Energy said that talks to buy some of BP's Egyptian assets have been abandoned.
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Saudi Aramco expects to supply 170,000 barrels per day of Saudi crude to the refinery in Zhoushan in eastern China
Last month, Saudi Aramco signed a long-term deal with the project's operator Zhejiang Rongsheng to supply crude oil
Barkindo cited a speech by Saudi oil minister Khalip al-Falih at a conference in New Delhi, and said Saudi Arabia is ready to ensure that there is no oil shortage.
Issuance was expected to continue surging this year, but the first half performance turned out to be more sluggish
China is still in a transition phase from the disastrous command economy of the Mao era