State-owned Saudi Arabian Mining Company (Maaden) yesterday launched an initial public offering to raise 9.25 billion riyals ($2.47bn) in the Middle East’s biggest mining IPO, valuing the firm at $4.9bn.
Maaden plans to sell 462.5 million of stock - equivalent to 50 per cent of its share capital - at 20 riyals each with subscriptions closing [...]
The government is beginning to show concern that the country could achieve its crude oil production target this year amid soaring price in the world market.
Head of the fiscal policy of the finance ministry Anggito Abimanyu said the country’s crude oil production has shown a downtrend, adding production has always been below 917,000 barrels as [...]
Indonesia is guaranteeing repayment of loans extended to state electricity firm, PT Perusahaan Listrik Negara (PLN), to encourage the building of new coal-fired power plants, the finance ministry said on Thursday.
Indonesia, struggling to cope with electricity shortages, has said it will speed up construction of 10,000 megawatts of coal-fired power plants to add capacity between [...]
Angola, sub-Saharan Africa’s second largest oil producer, is seeking to join the Organisation of Petroleum Exporting Countries to reap the gains of being within the cartel, the government has said.
“The council of ministers has said it backs Angola joining
OPEC,” finance ministry spokesman Bastos de Almeida told AFP Thursday.
“By joining OPEC, Angola will no longer be [...]
The government will not allocate any funding in the 2007 national budget for the Sidoarjo mud-volcano catastrophe in East Java, despite it having being declared a national disaster, a senior official from the Finance Ministry said Friday in Jakarta.
Referring to a presidential decree issued in connection with the disaster, the ministry’s secretary-general, Mulia P. Nasution, [...]
The Petroleum ministry has sought a Re 1 per litre excise duty cut on each litre of petrol and diesel, virtually ruling out any imminent price hike despite simmering global crude oil prices.
A letter to this effect has been written to the Finance Ministry requesting a Re 1 cut and the decision of the Finance [...]
