Saudi Aramco appoints new VPs

RIYADH: Saudi Aramco made new appointments to its executive ranks at its board meeting last week in Japan, while reappointing president and chief executive Amin Nasser, the company’s weekly magazine the Arabian Sun reported. The appointments are effective from May 1 and include Nabeel A Al Mansour: general counsel and corporate secretary. Mansour is the first Saudi to be general counsel; David B Kultgen: senior vice president; Abdulhakim A Al-Gouhi: vice president of industrial services; Said A Al-Hadrami: vice president of international operations; Ahmed A Al Subaey: vice president of marketing and supply and Salah M Al Hareky: treasurer.

Qatar cuts local diesel price

DOHA: Qatar lowered the domestic price of diesel by 7 per cent after switching to a local energy pricing regime that fluctuates monthly in response to changes in global markets.

Diesel will decrease to QR1.4 ($0.3734) per litre for the month of May and the price of gasoline will remain unchanged, Qatar’s energy ministry said in a statement. It did not say what the current price of diesel was.

Exxon ups dividend 3pc

HOUSTON: ExxonMobil Corp raised its quarterly dividend by 3 per cent, a day after Standard & Poor’s downgraded the US oil and gas company citing its generous payouts to shareholders.

It was the smallest increase since at least the first quarter of 2006, when the dividend rose 10 per cent, according to Thomson Reuters data. The downgrade of the oil giant was the first by S&P in more than 70 years. It was flagged by the ratings agency last week and did not come as a surprise as Exxon’s board met to approve the dividend increase and review quarterly results.

Seadrill sells stake in Sapurakencana

SINGAPORE: Norwegian rig firm Seadrill has sold its 8.2 per cent stake in Malaysia’s Sapurakencana Petroleum for $198 million, according to a term sheet seen by Reuters. Seadrill sold 490.3 million shares at 1.58 ringgit per share, a 10.7 percent discount to Sapurakencana’s closing price of 1.77 ringgit on Wednesday, the term sheet shows.

Seadrill confirmed the sale of its remaining stake in Sapurakencana in a regulatory filing.