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KSA sets tax rates on oil & hydrocarbon producers SPA did not say whether the announcement was directly related to national oil giant Saudi Aramco.

KSA sets tax rates on oil & hydrocarbon producers

The tax rate for investments exceeding $100bn will be 50%, SPA said. It gave other rates for producers with smaller investments

 •   Saudi exports to US to fall by 300k bpd in March
 •   Saudi Aramco plans $2bn debut bond ahead of IPO
 •   KSA, China to discuss CIC, CNPC investment in IPO

BP makes 3rd gas discovery in Egypt concession

The Qattameya Shallow-1 exploration well was drilled to a total depth of 1,961 metres in water depth of around 108 metres
 

Libya NOC challenges energy sector decree

Output has more than doubled to about 700,000 barrels per day (bpd) since last year, though it is still far below the 1.6mn bpd OPEC member Libya was producing before 2011
 

Taiwan increases Kurdish KBT crude imports

State-owned CPC Corp bought 1mn barrels of Kurdish KBT crude for the first time in the second quarter, and Formosa Petrochemical Corp has resumed purchases of this grade after a near nine-month break
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