Oil Rises as U.S. Shutdown Ends While Venezuela Tensions Mount - Bloomberg:
Oil closed higher for the third day in a row as a deal to reopen the U.S. government eased investor fears while political turmoil in Venezuela roiled one of the world’s biggest suppliers of heavy crude.
Futures in New York rose 1.1 percent, gaining steam on reports President Donald Trump agreed to a three-week pause in the government shutdown to pursue border-security talks with Democrats. In Caracas, President Nicolas Maduro and Juan Guaido, the opposition leader, gave dueling speeches while the United Nations Security Council prepared to meet tomorrow on the crisis.
“There’s some optimism now that the government shutdown, at least temporarily, may be behind us," said Brian Kessens, who helps manage $16 billion in energy assets at Tortoise in Leawood, Kansas. “That’s got markets feeling a little bit better."
Friday 25 January 2019
Russia's Novatek says sees LNG from U.S. as its chief threat- Ifx | Reuters
Russia's Novatek says sees LNG from U.S. as its chief threat- Ifx | Reuters:
Leonid Mikhelson, the head of Russia’s Novatek said on Friday that liquefied natural gas (LNG) from the United States as its chief threat, Interfax news agency reported.
He said, according to Interfax, that LNG production in the U.S. enjoys cheap financing, while LNG production in Russia has a competitive edge thanks to its low production costs.
Qatar is the world’s biggest LNG producer.
Leonid Mikhelson, the head of Russia’s Novatek said on Friday that liquefied natural gas (LNG) from the United States as its chief threat, Interfax news agency reported.
He said, according to Interfax, that LNG production in the U.S. enjoys cheap financing, while LNG production in Russia has a competitive edge thanks to its low production costs.
Qatar is the world’s biggest LNG producer.
RPT-EU adds #SaudiArabia to draft terrorism financing list - sources | Reuters
RPT-EU adds Saudi Arabia to draft terrorism financing list - sources | Reuters:
The European Commission has added Saudi Arabia to an EU draft list of countries that pose a threat to the bloc because of lax controls against terrorism financing and money laundering, two sources told Reuters on Friday.
The move comes amid heightened international pressure on Saudi Arabia after the murder of Saudi journalist Jamal Khashoggi in the kingdom’s Istanbul consulate on Oct. 2.
The EU’s list currently consists of 16 countries, including Iran, Iraq, Syria, Afghanistan, Yemen and North Korea, and is mostly based on criteria used by the Financial Action Task Force (FATF), a global body composed by wealthy nations meant to combat money laundering and terrorism financing.
The European Commission has added Saudi Arabia to an EU draft list of countries that pose a threat to the bloc because of lax controls against terrorism financing and money laundering, two sources told Reuters on Friday.
The move comes amid heightened international pressure on Saudi Arabia after the murder of Saudi journalist Jamal Khashoggi in the kingdom’s Istanbul consulate on Oct. 2.
The EU’s list currently consists of 16 countries, including Iran, Iraq, Syria, Afghanistan, Yemen and North Korea, and is mostly based on criteria used by the Financial Action Task Force (FATF), a global body composed by wealthy nations meant to combat money laundering and terrorism financing.
#Saudi, #UAE Loans to Help Pakistan Avert Financial Crisis - Bloomberg
Saudi, U.A.E. Loans to Help Pakistan Avert Financial Crisis - Bloomberg:
Pakistan received $1 billion from Saudi Arabia Friday, a day after the United Arab Emirates deposited the first installment of a $3 billion financial support package aimed at helping the South Asian nation tide over a balance-of-payment crisis.
The U.A.E. transferred $1 billion as part of an agreement between Pakistan and the Abu Dhabi Fund for Development this month, the central bank said in a statement on Twitter Thursday. The total transfers so far from the U.A.E and Saudi Arabia stand at $4 billion, and will boost Pakistan’s reserves that had fallen to $6.64 billion, or less than two months of import cover, in the week ended Jan. 18. Riyadh also has pledged to supply oil worth $3 billion on deferred payments.
“It’s a short-term relief,” Mohammed Sohail, chief executive officer at Topline Securities Pakistan Ltd., said in Karachi. Pakistan will need more funding as the nation’s external account gap next fiscal year will again swell to as much as $20 billion, he said.
Pakistan received $1 billion from Saudi Arabia Friday, a day after the United Arab Emirates deposited the first installment of a $3 billion financial support package aimed at helping the South Asian nation tide over a balance-of-payment crisis.
The U.A.E. transferred $1 billion as part of an agreement between Pakistan and the Abu Dhabi Fund for Development this month, the central bank said in a statement on Twitter Thursday. The total transfers so far from the U.A.E and Saudi Arabia stand at $4 billion, and will boost Pakistan’s reserves that had fallen to $6.64 billion, or less than two months of import cover, in the week ended Jan. 18. Riyadh also has pledged to supply oil worth $3 billion on deferred payments.
“It’s a short-term relief,” Mohammed Sohail, chief executive officer at Topline Securities Pakistan Ltd., said in Karachi. Pakistan will need more funding as the nation’s external account gap next fiscal year will again swell to as much as $20 billion, he said.
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