Iran Touts Russia's Plan to Invest in Its Oil With Sanctions Looming - Bloomberg:
Iran said Russia is ready to invest as much as $50 billion in its oil industry even as Western majors are pulling out of deals with the republic amid the threat of U.S. sanctions.
President Vladimir Putin has confirmed the spending plan, with at least three deals worth some $15 billion already on the table, Ali Akbar Velayati, foreign policy adviser to Iran’s supreme leader, said in Moscow Friday. Russia is ready to invest in crude exploration and production, as well as refining, he said.
Iranian news agencies published similar comments from Velayati on Thursday, following his meeting then with President Putin in the Russian capital. Russian companies that have been in talks with Iran on joint hydrocarbon projects wouldn’t comment on the outcome when contacted by Bloomberg. Kremlin spokesman Dmitry Peskov also declined to comment on Velayati’s statements.
Friday, 13 July 2018
Russia Says OPEC+ Could Boost Oil Supply More Than Pledged - Bloomberg
Russia Says OPEC+ Could Boost Oil Supply More Than Pledged - Bloomberg:
OPEC and its allies could boost oil production by more than the 1 million barrels a day agreed last month if needed, Russia’s Energy Minister Alexander Novak said.
“I can’t rule out that if there is a need for more than 1 million barrels we will be able to quickly discuss it all together and make all necessary decisions,” Novak told reporters in Moscow on Friday. The producers have “all needed tools,” if necessary, he said.
Oil prices have remained near their highest in more than three years despite pledges by Russia, Saudi Arabia and their allies last month to boost production. Supplies are being strained by deepening losses in Venezuela, erratic flows from Libya and the prospect of renewed U.S. sanctions on Iran which could curb its exports.
OPEC and its allies could boost oil production by more than the 1 million barrels a day agreed last month if needed, Russia’s Energy Minister Alexander Novak said.
“I can’t rule out that if there is a need for more than 1 million barrels we will be able to quickly discuss it all together and make all necessary decisions,” Novak told reporters in Moscow on Friday. The producers have “all needed tools,” if necessary, he said.
Oil prices have remained near their highest in more than three years despite pledges by Russia, Saudi Arabia and their allies last month to boost production. Supplies are being strained by deepening losses in Venezuela, erratic flows from Libya and the prospect of renewed U.S. sanctions on Iran which could curb its exports.
Dana Gas seeks to complete sukuk settlement | ZAWYA MENA Edition
Dana Gas seeks to complete sukuk settlement | ZAWYA MENA Edition:
Dana Gas is keen on fulfilling all the legal requirements for the settlement in the sukuk case in the UAE and UK by the end of the month, head of investor relations Mohammmed Mubaideen told Mubasher.
In June, Dana Gas announced that its offer to restructure and refinance the $700 million disputed sukuk was approved by 96.7% of sukukholders.
The Abu Dhabi-listed company and the sukukholders committee entered into an agreement to end all their litigations and waive claims.
Dana Gas is keen on fulfilling all the legal requirements for the settlement in the sukuk case in the UAE and UK by the end of the month, head of investor relations Mohammmed Mubaideen told Mubasher.
In June, Dana Gas announced that its offer to restructure and refinance the $700 million disputed sukuk was approved by 96.7% of sukukholders.
The Abu Dhabi-listed company and the sukukholders committee entered into an agreement to end all their litigations and waive claims.
Saudi Prince Alwaleed pledges support for crown prince's reforms | ZAWYA MENA Edition
Saudi Prince Alwaleed pledges support for crown prince's reforms | ZAWYA MENA Edition:
Saudi Arabian billionaire Prince Alwaleed bin Talal, who was detained for three months in an anti-corruption campaign under Crown Prince Mohammed bin Salman, pledged support on Thursday for the young leader's programme of sweeping reforms.
"I was honoured to meet with my brother HRH the Crown Prince and to discuss economic matters and the private sector's future & role in #Vision2030 success," he tweeted with a photograph of the royal cousins embracing in front of a desk.
It is the first publicly disclosed meeting between the two men since the anti-corruption crackdown was launched in November.
Saudi Arabian billionaire Prince Alwaleed bin Talal, who was detained for three months in an anti-corruption campaign under Crown Prince Mohammed bin Salman, pledged support on Thursday for the young leader's programme of sweeping reforms.
"I was honoured to meet with my brother HRH the Crown Prince and to discuss economic matters and the private sector's future & role in #Vision2030 success," he tweeted with a photograph of the royal cousins embracing in front of a desk.
It is the first publicly disclosed meeting between the two men since the anti-corruption crackdown was launched in November.
Oman's Dhofar Generating Company’s upcoming IPO garners sizeable interest | ZAWYA MENA Edition
Oman's Dhofar Generating Company’s upcoming IPO garners sizeable interest | ZAWYA MENA Edition:
Oman-based Dhofar Generating Company (DGC)’s Intial Public Offering (IPO) has seen an increase in interested investors following a roadshow meeting held in collaboration with Bank Dhofar, the issue manager.
The meeting, was attended by a wide cross-section of investor groups including institutional investors, high-net worth individuals as well as established family offices, according to local newswire, ONA.
Naif al-Awaaid, CEO of DGC, said the project founders, Mitsui & Co, ACWA Power and Dhofar International Development as well as Investment Holding Company SAOG (DIDIC) will remain shareholders post-IPO, with an aggregate holding of 60 per cent and they will continue to ensure reliable management and governance of the company.
Oman-based Dhofar Generating Company (DGC)’s Intial Public Offering (IPO) has seen an increase in interested investors following a roadshow meeting held in collaboration with Bank Dhofar, the issue manager.
The meeting, was attended by a wide cross-section of investor groups including institutional investors, high-net worth individuals as well as established family offices, according to local newswire, ONA.
Naif al-Awaaid, CEO of DGC, said the project founders, Mitsui & Co, ACWA Power and Dhofar International Development as well as Investment Holding Company SAOG (DIDIC) will remain shareholders post-IPO, with an aggregate holding of 60 per cent and they will continue to ensure reliable management and governance of the company.
Oil rises but declines for the week as supply concerns ease | Reuters
Oil rises but declines for the week as supply concerns ease | Reuters:
Oil prices rose about 1 percent on Friday as strike actions in Norway and Iraq hit supplies, but futures were set for a second straight week of decline after Libyan ports reopened and on the view that Iran might still export some crude despite U.S. sanctions.
Brent crude LCOc1 rose 88 cents to settle at $75.33 a barrel, a 1.18 percent gain. The global benchmark fell about 2.7 percent for the week.
West Texas Intermediate (WTI) crude CLc1 futures rose 68 cents to settle at $71.01 a barrel, but lost about 3.9 percent this week.
Oil prices rose about 1 percent on Friday as strike actions in Norway and Iraq hit supplies, but futures were set for a second straight week of decline after Libyan ports reopened and on the view that Iran might still export some crude despite U.S. sanctions.
Brent crude LCOc1 rose 88 cents to settle at $75.33 a barrel, a 1.18 percent gain. The global benchmark fell about 2.7 percent for the week.
West Texas Intermediate (WTI) crude CLc1 futures rose 68 cents to settle at $71.01 a barrel, but lost about 3.9 percent this week.
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