The world’s top oil companies are back in acquisition mode, targeting smaller exploration and development firms to boost oil and gas reserves rather than the mega-mergers that followed previous slumps in crude prices. Total acquisitions of oil and gas fields tripled to $31 billion in December from a month earlier. Source: Reuters
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Saudi Arabia’s National Water Co. is seeking financial advisers to arrange the sale of parts of the country’s water distribution network, according to people familiar with the matter. Source Gulf News
The International Monetary Fund late on July 20 approved a one-year, $1.8 billion loan program for Greece but will not release any funds until the eurozone agrees on a debt relief plan, in a highly unusual compromise step. Source: Daily News
“The current account deficit recorded $5.24 billion, indicating an increase of $2.13 billion compared to May of the previous year, bringing the 12-month rolling deficit to $35.3 billion,” the Turkish Central Bank said. Source: Daily News