Russia's RDIF says to finalise Eurasia drilling deal with Aramco

Russia eyes Saudi Aramco IPO investment

A Russian and Chinese joint investment fund, working in conjunction with several major Russian banks, has made moves to take part in the much awaited Saudi Aramco initial public offering, according to a sovereign Russian investment fund head.

The United States could overtake Russian Federation to become the world's biggest oil producer by the end of this year thanks to an extraordinary growth in output, the International Energy Agency has said.

"We see a great interest from the Russian banks, from Russian investment banks and other Russian investors", he said on the sidelines of a conference in the Russian Black Sea resort of Sochi.

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Saudi officials have said the government plans to sell up to 5 percent of Aramco shares on one or more foreign exchanges in addition to Riyadh.

Russia-China investment fund shows interest: RDIF's Dmitriev.

Chief Executive Officer of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev discussed investment cooperation prospects with King of Saudi Arabia Salman bin Abdulaziz Al Saud, RDIF press service said earlier on Wednesday. "We believe this is very good for, once again, thinking jointly about oil", he said.

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An announcement is also expected later on Wednesday on a partnership between Aramco and an LNG project in Russia, Dmitriev said. Russia's Energy Minister Alexander Novak had said in October the deal would be worth $1.1 billion.

"As an energy minister of Saudi Arabia I can say that RDIF is an important bridge between Russian Federation and Saudi Arabia", al-Falih said.

The award, which is presented annually by the UK's Energy Institute and Gulf Intelligence, is also in recognition of the leadership displayed by Al-Falih in guiding about 20 producing countries to reach more than 100 per cent compliance with cuts and extend the oil supply pact for a second year through to the end of 2018.

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