Gazprom Neft, Iran’s NIOC agree oil field studies

Alexei Miller, Russian natural gas giant Gazprom CEO, addresses a recent news conference in Moscow recently. (AP)
Updated 13 December 2016
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Gazprom Neft, Iran’s NIOC agree oil field studies

TEHRAN/MOSCOW: Russian oil producer Gazprom Neft and National Iranian Oil Company (NIOC) have agreed to conduct a study into the possible development of two oil fields in Iran, Russia’s Energy Ministry Alexander Novak said.
Iran, OPEC’s third largest oil producer, plans to launch next year a new-style contract for helping develop its oil and gas fields with invitations to tender to be the first since the lifting of sanctions.
Novak said Gazprom Neft, the oil producing unit of Gazprom, has signed a memorandum of understanding with NIOC and Gazprom Neft will now conduct a study for the Changouleh and Cheshmeh-Khosh oil fields in Western Iran. A deal on producing oil at the two fields could follow, the minister said.
He also said on Tuesday that Gazprom and Russia’s largest oil producer Rosneft have signed a separate memorandum with NIOC.
Gazprom Deputy CEO Alexander Medvedev said in Tehran that his company has been interested in joint liquefied natural gas (LNG) projects.
Russia, which has already signed several memorandums of understanding with Iran, has the largest share of Iran’s oil field development studies compared with other countries involved in oil exploration there, Iran’s Oil Minister Bijan Namdar Zanganeh was quoted as saying by ISNA news agency.
Zanganeh also said Iran would finalize another deal in the next two days to sell Russia 100,000 barrels of crude oil per day.
Commenting on the recent OPEC deal to cut oil output, Zangeneh said: “The talks between the two countries’ leaders were essential and very significant in this matter.”
He said that oil prices were likely to settle at $50-$55 per barrel.
“No other country may have influence on Russia’s and Iran’s intention to develop ties,” Iranian Communications Minister Mahmoud Vaezi said at the talks with Russia’s Novak.


Careem looks to raise up to $200 million in China

Updated 20 November 2018
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Careem looks to raise up to $200 million in China

  • Investment bank China International Capital Corporation (CICC) is advising Dubai-based Careem, but it was not immediately clear when or if a deal would be finalized
  • Careem said in October it had secured $200 million in a new funding round from existing investors

HONG KONG: Careem, Uber’s main Middle East rival, is looking at raising between $100 million and $200 million from Chinese investors, a source with direct knowledge of the matter told Reuters.
Investment bank China International Capital Corporation (CICC) is advising Dubai-based Careem, but it was not immediately clear when or if a deal would be finalized, the source said, adding there was a lack of familiarity and interest among Chinese investors in Middle Eastern start-ups.
Beijing-based CICC and Careem both declined to comment.
Reuters reported on Monday that CICC and New York-based investment bank Jefferies were both advising Careem on potential investment options and capital raising, including a possible Middle East M&A deal with Uber.
Careem, which counts German car maker Daimler and China’s largest ride-hailing company DiDi Chuxing among its other backers, competes head-to-head with Uber in most of the major cities in the Middle East.
Careem said in October it had secured $200 million in a new funding round from existing investors, and that it expected to raise more to finance expansion plans.
That investment, combined with previous fund raising and company growth into new markets and segments, gave Careem an estimated valuation of more than $2 billion.
Reuters reported in March that Careem was in early talks to raise as much as $500 million.