Saudi's Bahri Gains 9 % After Merger Announcement

Shares at Saudi National Shipping Co (Bahri) 4030.SE rose 9 percent after it signed an agreement with Saudi Aramco to buy its Vela marine unit for $1.3 billion in cash shares.

On Wednesday State oil giant Saudi Aramco and Bahri announced the agreement that would make Bahri the world's fourth largest owner of very large crude carriers, or VLCCs. Bahri will be the exclusive provider of VLCC crude oil shipping services to Saudi Aramco, under a long term agreement.

• HRT Confirms the Filing of Guarantees to ANP 
• CNOOC Limited Announces Key Operational Statistics 
• Rosneft Targets Oil and Gas in Iraq 
• Beltransgaz Renamed Gazprom Transgaz Belarus 
• Protests Heat Up Near Iraq's West Qurna 2 Oilfield 
• HRT Receives ANP's Qualification of 'A' Operator 
• Gazprom and Shell Sign MOU to Co-Operate in Russia 
• Beltransgaz to be Renamed Gazprom Transgaz Belarus 
• Gazprom & Eni Discuss Issues of Bilateral Cooperation 
• Alliance between Tulip and OMZEST 

• GulfOilandGas - Regional E-Market Place serving the Middle East and North Africa 
• EMARAT MISR - a new palyer in the marketing side 
• ATP Announces Success at Shimshon Well in Israel 
• BreitBurn Closes 2 Permian Basin Acquisitions Totaling $220 M