Google+ Followers

Sunday, 18 September 2016

Iran urges US to unblock aircraft deals, seeks investors | GulfNews.com

Iran urges US to unblock aircraft deals, seeks investors | GulfNews.com:

"Iran urged the United States on Sunday to remove remaining obstacles to it buying passenger planes following the lifting of international sanctions and spread out the welcome mat to foreign investors as it seeks to boost its aviation sector.
Iran provisionally agreed earlier this year to buy over 200 jets worth $50 billion (Dh183.5 billion) at list prices from Airbus and Boeing under an agreement between Tehran and world powers to ease sanctions in exchange for curbs on Iran’s nuclear activities.
Both deals hinge on the longer-than-expected process of winning US. Treasury approval, which is needed due to the high proportion of US parts in virtually all modern jetliners, including those made by Europe’s Airbus.
"



'via Blog this'

OPEC May Hold Formal Meeting If Members Agree on Oil in Algiers - Bloomberg

OPEC May Hold Formal Meeting If Members Agree on Oil in Algiers - Bloomberg:

"OPEC may convene an extraordinary meeting if the group’s ministers reach a consensus on oil markets at an informal gathering in Algiers later this month, Secretary General Mohammed Barkindo said, according to Algeria’s official news agency.
Barkindo said he is “optimistic” about the informal session in Algiers to be held Sept. 27 on the sidelines of a conference of the International Energy Forum, Algeria Press Service reported Sunday. He made his comments after meeting with Algeria’s Energy Minister Nourredine Boutarfa, it said.
The Sept. 27 gathering will be a “meeting of consultation and not of decision-making,” unlike OPEC’s meeting in Oran, Algeria, in 2008, when it agreed to cut production, Barkindo said the previous day, APS reported on Saturday."



'via Blog this'

UAE bank NBAD postpones Middle East's first green bond -sources | Reuters

UAE bank NBAD postpones Middle East's first green bond -sources | Reuters:

"National Bank of Abu Dhabi has postponed the region's first ever green bond after investors considered the pricing unattractive, banking sources told Reuters on Sunday.

Green bonds have become an increasingly popular source of borrowing for banks in emerging markets, including in India and China in view of the growing demand for funds for renewable projects.

The United Arab Emirates-based lender launched investor roadshows in late August to market the benchmark-sized bond, the first green bond ever from a Middle Eastern borrower, with the proceeds due to be used to invest in renewable energy projects."



'via Blog this'

MIDEAST STOCKS-Saudi shares drop as activity falls to 12-month low, Qatar rises | Reuters

MIDEAST STOCKS-Saudi shares drop as activity falls to 12-month low, Qatar rises | Reuters:

"Equity investors dumped Saudi Arabian stocks on Sunday, deterred by a recent downturn in global equity and oil markets while Qatar's index held on to small gains as traders bought shares on price dips.

Riyadh's index pulled back 1.9 percent on the first day back following a 10-day Eid al-Adha break. But trading volume was the lowest since last September.

Oil-related companies were hit with Saudi Kayan Petrochemical declining 2.3 percent in heavy trade, after Brent futures fell by around 5 percent during the 10 days the Riyadh bourse was closed."



'via Blog this'

Poll: Saudi Aramco’s IPO a watershed moment across the region | The National

Poll: Saudi Aramco’s IPO a watershed moment across the region | The National:

"A significant majority of senior executives across the Arabian Gulf expect Saudi Aramco’s planned IPO to help capital markets throughout the region, attracting new investors and boosting liquidity, according to new research commissioned by The National.

A survey of more than 500 high-level executives, conducted by research company Borderless Access on behalf of The National, found that 90 per cent of Saudi executives agreed that the proposed IPO of a stake in the country’s oil giant "will mark a watershed moment for the region’s capital markets, providing much needed liquidity and broadening the investor base," with 53 per cent strongly agreeing.


Sentiment was similarly bullish among UAE respondents, with 84 per cent agreeing with the statement, 61 per cent agreeing strongly."



'via Blog this'

Introducing The Pre-Freeze Oil Boil - Bloomberg Gadfly

Introducing The Pre-Freeze Oil Boil - Bloomberg Gadfly:

"Most oil-market observers will be keenly aware of a meeting in Algeria later this month at which the world's biggest producers will -- or won't -- commit to freezing their crude production. While talking about freezing supply may have helped to put a floor under oil prices, the outcome of the meeting itself is becoming more redundant by the day as almost all the world's top producers do exactly the opposite.The big-4 Gulf Arab OPEC countries -- Saudi Arabia, Iraq, the U.A.E. and Kuwait -- are all producing at, or very close to, record levels. The reasons vary, but for each it comes down to pursuing established medium- to long-term market strategy. At the same time, output from neighboring Iran is at a five-year high, as the country races to restore pre-sanctions output and exports. No sign of a freeze here."



'via Blog this'

Iran supports any move to stabilize oil market: Rouhani | Reuters

Iran supports any move to stabilize oil market: Rouhani | Reuters:

"Iran's President Hassan Rouhani said Tehran supports any move to stabilize the global oil market and lift prices, the Iranian oil ministry news agency SHANA quoted him as saying on Sunday.

"Instability and falling oil prices are harmful to all countries, especially oil producers," Rouhani was quoted as saying by SHANA.

"Tehran welcomes any move aimed at market stability and improvement of oil prices based on justice, fairness and fair quota of all the oil producers," the president said, referring to a meeting between OPEC and non-OPEC producers in Algeria next week, SHANA said."



'via Blog this'

Oman-Iran gas pipeline cost to rise due to new route: source | Reuters

Oman-Iran gas pipeline cost to rise due to new route: source | Reuters:

"A planned subsea natural gas pipeline between Iran and Oman is expected to have a higher estimated cost after the two countries had to change the project's route and design to avoid waters controlled by the UAE, an industry source said on Thursday.

Iran sits on one of the world's largest gas reserves, which Oman has been eyeing as it hopes to feed energy-intensive industries and liquefied natural gas (LNG) export plants.

The planned pipeline would allow Oman to use Iranian gas for domestic needs as well as to export it to global markets as LNG."



'via Blog this'

MIDEAST STOCKS-Saudi pulls back as market re-opens after holiday | Reuters

MIDEAST STOCKS-Saudi pulls back as market re-opens after holiday | Reuters:

"Saudi Arabian stocks pulled back in early trade on Sunday after the bourse reopened following the Eid al-Adha break, with investors deterred by a recent downturn in global equity and oil markets.

Riyadh's index was down 1.3 percent after an hour of trade as three quarters of the traded shares dropped.

Oil-related companies were the biggest losers, with Saudi Kayan Petrochemical declining 2.3 percent in heavy trade, after Brent futures fell by around 5 percent during the 10 days the Riyadh bourse was closed."



'via Blog this'