Good morning. Today's Smart Brevity count: 1,001 words, < 4 minutes.
And happy belated birthday to the late Marc Bolan of T. Rex, who plays us into today's edition...
An Aramco oil refinery in Saudi Arabia in 1990. Photo: Tom Stoddart/Hulton Archive/Getty Images
Saudi Arabia's efforts to boost interest in the IPO of state oil giant Aramco are moving into higher gear.
Driving the news: The company posted a new "corporate overview" yesterday that pledges a $75 billion dividend in 2020 and for several years ahead.
In addition, Bloomberg reports that Aramco has "approached Asian state oil producers including Malaysia’s Petroliam Nasional Bhd. and China’s Sinopec Group about potential cornerstone investments" in the IPO.
Why it matters: Saudi officials hope the planned IPO will generate a mammoth inflow of cash to fund the kingdom's economic diversification.
What they're saying: "This dividend discussion appears to be structured so as to remove any doubt over where investors stand relative to the government, which will remain the majority shareholder," BCA Research's Bob Ryan tells Axios in an email.
But, but, but: The new presentation doesn't say outside investors would be guaranteed to benefit in a system where Aramco first and foremost bankrolls the Saudi government.
The intrigue: The document also amends the royalty rates. Starting in January, they would be 15% for Brent crude prices up to $70 per barrel, jumping to 45% when prices are between $70 and $100, and 80% for higher prices.
I'm kind of a fanboy of the "fact of the week" from the Energy Department's Vehicle Technologies Office, and this week's version is a nice example.
The big picture: It pulls data on 2 key categories of medium- and heavy-duty trucks to illustrate what prolific fuel users they are.
Why it matters: It's hardly just the U.S. where heavy trucking is a massive source of fuel consumption.
What they're saying: The International Energy Agency's central long-term scenario shows oil demand is several million barrels per day higher in 2040, even though use in passenger cars peaks in the mid-2020s.
A new nonprofit with anonymous donors called the Empowerment Alliance has arrived to fight the Green New Deal and defend natural gas, Politico first reported yesterday.
Where it stands: Per Politico and E&E News, 2 longtime GOP political hands are playing key roles: Terry Holt, a founding partner with the PR firm HDMK, and Jim Nathanson, the new group's executive director.
LNG: Via S&P Global Platts, U.S.-based Sempra LNG has entered into a memorandum of understanding to supply gas to China Three Gorges Corp.
Offshore wind: Via Greentech Media, "GE has won another huge deal for its 12-megawatt Haliade-X offshore turbine, this time for the 3.6-gigawatt Dogger Bank trio of projects in the U.K."
FERC: The White House said last night that President Trump plans to nominate James Danly for an open GOP seat on the Federal Energy Regulatory Commission. He's currently FERC's general counsel. Bloomberg has more.
BP CEO Bob Dudley is preparing to leave the oil-and-gas giant within roughly a year, which would end a decade-long run at the helm, according to Sky News and Reuters.
Why it matters: The plan, if true, is part of a wider changing of the guard at some of the world's largest oil companies.
The big picture: Dudley became CEO months after the fatal 2010 Gulf of Mexico blowout and massive spill of over 3 million barrels that wreaked havoc on BP's finances and reputation.
Dudley has also overseen repositioning of the company in other ways, including...