Google+ Followers

Wednesday, 15 November 2017

Exclusive: Dana Gas ready to import Iranian gas if supplies are 'reliable' - The National

Exclusive: Dana Gas ready to import Iranian gas if supplies are 'reliable' - The National:

"Sharjah-based energy company Dana Gas says its affiliate Crescent Petroleum’s facilities are ready for the import of gas from Iran, should the National Iranian Oil Company (NIOC) indicate its willingness to deliver gas through an existing pipeline that has so far remained unused.

“It is to my understanding that Iranians have indicated that they were ready to deliver gas, and we as Dana Gas are ready," chief executive Patrick Allman-Ward told The National in an interview on the sidelines of Abu Dhabi International Petroleum Exhibition and Conference (Adipec) on Wednesday.

"But clearly we need to be satisfied that the supplies of gas will be reliable and not interrupted and of course we would need even if we were given that assurance in terms of volumes and duration."



'via Blog this'

China and India Chase Stakes in Abu Dhabi Offshore Oil Fields - Bloomberg

China and India Chase Stakes in Abu Dhabi Offshore Oil Fields - Bloomberg:

"China and India are each targeting a share of Abu Dhabi’s largest offshore oil fields as the Persian Gulf producer seeks partners to boost output and ensure exports of its oil to two of the world’s most promising markets. A stake in the offshore oil concession that’s set for renewal in March would mark a second big win of crude development rights in the emirate for China National Petroleum Corp. CNPC, which in February bought into Abu Dhabi’s largest cluster of onshore fields, agreed on Wednesday with Abu Dhabi National Oil Co. to study cooperation in areas including offshore energy and natural gas deposits, Adnoc said in a statement. India’s state-run Oil and Natural Gas Corp. too is bidding for stakes in the fields off Abu Dhabi’s coast, Amar Nath, an Indian government representative on the company’s board, said Wednesday at a conference in Abu Dhabi, the United Arab Emirates capital. The Indian company will bid through its wholly owned international arm ONGC Videsh Ltd., said Nath, who is also a joint secretary for exploration at the country’s oil ministry."



'via Blog this'

Russia Won't Betray Its New Best Friends in OPEC: Julian Lee - Bloomberg

Russia Won't Betray Its New Best Friends in OPEC: Julian Lee - Bloomberg:

"Don’t be fooled by noises coming out of Russia that it could balk at taking a decision later this month to extend oil output restrictions alongside its allies in OPEC, writes Bloomberg oil strategist Julian Lee. When push comes to shove, the world’s biggest energy exporter will back a deal. Here are the main reasons why: President Vladimir Putin won’t want to risk the political gains he’s made in the Middle East for the sake of 300,000 barrels a day of extra oil production."



'via Blog this'

MIDEAST DEBT-Investors re-price political risk in Middle East bond market

MIDEAST DEBT-Investors re-price political risk in Middle East bond market:

"A rise in Middle East bond yields following Saudi Arabia’s anti-corruption purge and turmoil in Lebanon signals a long-term re-pricing of regional debt caused by heightened political risk, investors believe.

Funds started selling Middle East bonds early this month after Saudi Arabia detained dozens of senior officials and top businessmen in an unprecedented crackdown on graft.

The arrests coincided with the resignation of Lebanon’s prime minister, which put that country at the centre of regional tensions between Saudi Arabia and Iran, pushing Lebanese bond prices to multi-year lows."



'via Blog this'

Saudi Arabia to Freeze Trading Accounts as Part of Probe - Bloomberg

Saudi Arabia to Freeze Trading Accounts as Part of Probe - Bloomberg:

"Saudi Arabia’s market regulator has frozen the trading accounts of individuals being detained or investigated as part of the kingdom’s crackdown on alleged corruption, according to three people familiar with the matter.

The Capital Market Authority is asking brokerages to suspend the accounts of dozens of princes, billionaires and officials being held so they’re unable to buy or sell shares on the Tadawul stock exchange, the people said, asking not to be identified because the information is private.

The kingdom last week said Saudi Arabian Monetary Agency, or SAMA as the central bank is known, had frozen the bank accounts of individuals being investigated, but not those of the companies they own or manage. Wealthy Saudis are moving assets out of the region to avoid the risk of getting caught up in the crackdown, people with knowledge of the matter said. In Saudi Arabia, some are in talks with banks and asset managers to move money outside the country, the people said."



'via Blog this'

MIDEAST STOCKS-Major markets sag, Dubai's DSI surges after loss

MIDEAST STOCKS-Major markets sag, Dubai's DSI surges after loss:

"Major Gulf stock markets fell on Wednesday, partly because of retreating global equities and oil prices, though builder Drake & Scull surged in Dubai despite a heavy quarterly loss. The Saudi Arabian Capital Market Authority (CMA) issued a statement before the market opened saying that listed companies would be exempt from publishing fourth-quarter financial statements because they are transitioning to the International Financial Reporting Standards style of accounting. This surprised many fund managers, but the Arabic version of the statement said the exemption applied to “preliminary” financial statements, which seemed to imply that companies would still have to release final statements at a later date."



'via Blog this'

OPEC Approaches Meeting Without Clear Plan on How to Extend Cuts - Bloomberg

OPEC Approaches Meeting Without Clear Plan on How to Extend Cuts - Bloomberg:

"Fifteen days from now, nations that pump more than half the world’s oil gather in Vienna to discuss extending the production cuts that helped lift prices to two-year highs. The outcome is far from certain.

Russia, which alongside Saudi Arabia was the architect of the historic cooperation between crude producers, is said to be unconvinced that a decision is needed so soon before the deal expires at the end of March. While OPEC Secretary-General Mohammad Barkindo sees no opposition in principle to continuing the supply curbs, the extension could be as short as three months or as long as nine."



'via Blog this'

NBAD Securities on Saudi Markets, Reforms – Bloomberg

NBAD Securities on Saudi Markets, Reforms – Bloomberg:

"Mohammed Yasin, chief executive officer at NBAD Securities, discusses Saudi reforms and how to play the Saudi markets. He speaks on "Bloomberg Markets: Middle East." (Source: Bloomberg)"



'via Blog this'

MIDEAST STOCKS-Gulf little changed, DSI surges in Dubai after loss | ZAWYA MENA Edition

MIDEAST STOCKS-Gulf little changed, DSI surges in Dubai after loss | ZAWYA MENA Edition:

"Gulf stock markets were little changed in early trade on Wednesday although builder Drake & Scull surged in Dubai despite reporting a big third-quarter loss. Before the opening, the Saudi Arabian Capital Market Authority issued a statement saying listed companies would be exempt from publishing fourth-quarter financial statements because firms were transitioning to the International Financial Reporting Standards style of accounting. This surprised many fund managers, but the Arabic version of the statement said the exemption applied to "preliminary" financial statements, which seemed to imply that companies would still have to release final statements at a later date. "



'via Blog this'

Airbus to sell 430 planes to Indigo for $49.5 billion

Airbus to sell 430 planes to Indigo for $49.5 billion:

"Airbus announced on Wednesday that it will sell 430 airplanes to U.S. firm Indigo Partners for $49.5 billion in the European firm’s biggest deal ever. The announcement came at the Dubai Air Show and the deal includes 273 A320neos and 157 A321neos. The airlines that use the aircraft will include Frontier Airlines, JetSMART of Chile, Volaris of Mexico and Wizz Air of Hungary. A320neos list for $108.4 million apiece and A321neos at $127 million. Airlines and manufacturers often negotiate lower prices for big deals like these."



'via Blog this'