Saudi Arabian Oil Co. is set to appoint banks including Goldman Sachs Group Inc. and Citigroup Inc. to help manage its initial public offering, people familiar with the matter said, as the state-owned crude producer pushes ahead with what could be the world’s largest share sale.
Saudi Arabia is wrong to think that U.S. shale production won’t respond to higher oil prices in 2017, according to Goldman Sachs Group Inc.
India’s Power Minister Piyush Goyal said disputes blocking a hydroelectricity project worth at least $1.4 billion have been cleared, part of a drive to revitalize the industry as he targets an unprecedented expansion in renewable energy. Resolving the years-long delay in the Teesta-III project in northeastern Sikkim state near China will make hydroelectricity more alluring to investors, according to Goyal. One of his major challenges is finding the $200 billion India needs for a goal of 175 gigawatts of green-energy capacity by 2022. “If you go back in history for the last five years, the entire hydel industry has come to a standstill in India,” Goyal, a 51-year-old former banker and chartered accountant, said in an interview in New Delhi on Tuesday. “We’re going to revive it.”