Kohlberg & Co, Mubadala take controlling stake in PCI Pharma - Reuters:
Private equity firm Kohlberg & Company and Abu Dhabi state investor Mubadala have agreed to take a controlling stake in PCI Pharma Services, a U.S. pharmaceutical outsourcing company, from Partners Group, the companies said on Monday.
Under the deal, Kohlberg will buy a majority stake, Mubadala a significant stake and Partners Group will retain a minority equity stake in the company.
The size of the stakes and value of the deal were not disclosed.
Headquartered in Philadelphia, PCI Pharma Services provides a broad range of integrated pharmaceutical supply chain solutions from the earliest stages of drug development through to its commercial launch.
Monday, 24 August 2020
Oil prices rise as storms cut U.S. production - Reuters
Oil prices rise as storms cut U.S. production - Reuters:
Oil prices rose on Monday as storms headed for the Gulf of Mexico shut more than half of the region’s offshore production, with the more dangerous of the two storms expected to strike later in the week.
Brent crude LCOc1 settled at $45.13 a barrel, gaining 78 cents, or 1.76%, while U.S. West Texas Intermediate crude CLc1 settled at $42.62 a barrel, rising 28 cents, or 0.66%.
Energy companies shut more than 1 million barrels per day (bpd) of offshore crude oil supply in the U.S. Gulf of Mexico and evacuated more than 100 production platforms because of the twin threat from Tropical Storms Marco and Laura.
Marco reached the coast Monday, and Laura was expected to accelerate to a hurricane and hit by midweek.
Oil prices rose on Monday as storms headed for the Gulf of Mexico shut more than half of the region’s offshore production, with the more dangerous of the two storms expected to strike later in the week.
Brent crude LCOc1 settled at $45.13 a barrel, gaining 78 cents, or 1.76%, while U.S. West Texas Intermediate crude CLc1 settled at $42.62 a barrel, rising 28 cents, or 0.66%.
Energy companies shut more than 1 million barrels per day (bpd) of offshore crude oil supply in the U.S. Gulf of Mexico and evacuated more than 100 production platforms because of the twin threat from Tropical Storms Marco and Laura.
Marco reached the coast Monday, and Laura was expected to accelerate to a hurricane and hit by midweek.
Oil gains on storm-hit U.S. output and COVID-19 treatment hopes - Reuters
Oil gains on storm-hit U.S. output and COVID-19 treatment hopes - Reuters:
Crude oil prices rose on Monday as storms closed in on the Gulf of Mexico, shutting more than half its oil production, and on signs of progress in development of a COVID-19 treatment.
Brent crude LCOc1 was up 33 cents, or 0.7%, at $44.68 a barrel by 1033 GMT. U.S. West Texas Intermediate crude CLc1 rose 32 cents, or 0.8%, to $42.66.
"Prices are taking their cues from Mother Nature this morning as two storms bear down on the Gulf of Mexico. Half of the region’s production has been shut down, though gains will be limited by the threat of a second prolonged COVID wave,” said Stephen Brennock of oil broker PVM.
Energy companies shut more than 1 million barrels per day (bpd) of offshore crude oil production in the U.S. Gulf of Mexico because of the twin threat from Hurricane Marco and Tropical Storm Laura. Workers have been evacuated from more than 100 production platforms.
Crude oil prices rose on Monday as storms closed in on the Gulf of Mexico, shutting more than half its oil production, and on signs of progress in development of a COVID-19 treatment.
Brent crude LCOc1 was up 33 cents, or 0.7%, at $44.68 a barrel by 1033 GMT. U.S. West Texas Intermediate crude CLc1 rose 32 cents, or 0.8%, to $42.66.
"Prices are taking their cues from Mother Nature this morning as two storms bear down on the Gulf of Mexico. Half of the region’s production has been shut down, though gains will be limited by the threat of a second prolonged COVID wave,” said Stephen Brennock of oil broker PVM.
Energy companies shut more than 1 million barrels per day (bpd) of offshore crude oil production in the U.S. Gulf of Mexico because of the twin threat from Hurricane Marco and Tropical Storm Laura. Workers have been evacuated from more than 100 production platforms.
European, Middle Eastern & African Stocks - Bloomberg #SaudiArabia #Qatar close
European, Middle Eastern & African Stocks - Bloomberg:
Updated stock indexes in Europe, Middle East & Africa. Get an overview of major indexes, current values and stock market data in Europe, UK, Germany, Russia & more.
Updated stock indexes in Europe, Middle East & Africa. Get an overview of major indexes, current values and stock market data in Europe, UK, Germany, Russia & more.
European, Middle Eastern & African Stocks - Bloomberg #UAE close, #SaudiArabia #Qatar mid-session
European, Middle Eastern & African Stocks - Bloomberg:
Updated stock indexes in Europe, Middle East & Africa. Get an overview of major indexes, current values and stock market data in Europe, UK, Germany, Russia & more.
Updated stock indexes in Europe, Middle East & Africa. Get an overview of major indexes, current values and stock market data in Europe, UK, Germany, Russia & more.
Safe bet? Sovereign funds rethink once-reliable real estate - Reuters
Safe bet? Sovereign funds rethink once-reliable real estate - Reuters:
The COVID-19 pandemic has forced sovereign wealth funds to think the previously unthinkable.
With prime office blocks lying empty around the world, hotels half-vacant and retailers struggling to stay afloat, the funds are retreating from many of the real estate investments that have long been a mainstay of their strategies.
Sovereign wealth funds (SWFs) invested $4.4 billion in the sector in the first seven months of 2020, 65% down from the same period a year ago, according to previously unpublished data provided to Reuters by Global SWF, an industry data specialist.
The nature of property investments is also shifting, with funds increasingly investing in logistics space, such as warehousing, amid a boom in online commerce during the pandemic, while cutting back on deals for offices and retail buildings.
The COVID-19 pandemic has forced sovereign wealth funds to think the previously unthinkable.
With prime office blocks lying empty around the world, hotels half-vacant and retailers struggling to stay afloat, the funds are retreating from many of the real estate investments that have long been a mainstay of their strategies.
Sovereign wealth funds (SWFs) invested $4.4 billion in the sector in the first seven months of 2020, 65% down from the same period a year ago, according to previously unpublished data provided to Reuters by Global SWF, an industry data specialist.
The nature of property investments is also shifting, with funds increasingly investing in logistics space, such as warehousing, amid a boom in online commerce during the pandemic, while cutting back on deals for offices and retail buildings.
Industries Qatar buys #Qatar Fertiliser stake from QP in $1 billion deal - Reuters
Industries Qatar buys Qatar Fertiliser stake from QP in $1 billion deal - Reuters:
Industries Qatar (IQ) (IQCD.QA) has bought Qatar Petroleum’s 25% stake in Qatar Fertiliser Co (QAFCO) for $1 billion, the company said, making IQ the 100% owner of the world’s largest single site urea producer.
Industries Qatar shares were up 6.9% to 10.1 riyals in early trade on Monday, trimming their year-to-date loss to 2.2%.
QAFCO has entered into a new gas sales and purchase agreement (GSPA) with Qatar Petroleum (QP) with effect from August 1 until December 31, 2035, covering the gas requirements of its units.
The deal provides QP with cash to pursue investments.
Industries Qatar (IQ) (IQCD.QA) has bought Qatar Petroleum’s 25% stake in Qatar Fertiliser Co (QAFCO) for $1 billion, the company said, making IQ the 100% owner of the world’s largest single site urea producer.
Industries Qatar shares were up 6.9% to 10.1 riyals in early trade on Monday, trimming their year-to-date loss to 2.2%.
QAFCO has entered into a new gas sales and purchase agreement (GSPA) with Qatar Petroleum (QP) with effect from August 1 until December 31, 2035, covering the gas requirements of its units.
The deal provides QP with cash to pursue investments.
MIDEAST STOCKS-Most Gulf markets rise; Industries Qatar boosts #Qatar index - Reuters
MIDEAST STOCKS-Most Gulf markets rise; Industries Qatar boosts Qatar index - Reuters:
Major stock markets in the Gulf region rose in early trade on Monday, with the Qatari index boosted by gains in shares of Industries Qatar after the petrochemicals firm bought a stake in Qatar Fertiliser Co (QAFCO).
Saudi Arabia’s benchmark index firmed 0.2%, with oil giant Saudi Aramco gaining 0.3%, while Al Rajhi Bank was up 0.2%.
Aramco said on Sunday it was setting up a new corporate development organisation to oversee the company’s assets and secure greater access to growth markets and technologies.
Qatar’s index added 0.8%, as Industries Qatar surged 6.5%, reaching its highest level since May, after the petrochemical maker bought Qatar Petroleum’s 25% stake in QAFCO for $1 billion.
In Dubai, which traded after a session’s break, the index gained 1.1%, with blue-chip developer Emaar Properties rising 2.4% and Emirates NBD adding 1.4%.
Major stock markets in the Gulf region rose in early trade on Monday, with the Qatari index boosted by gains in shares of Industries Qatar after the petrochemicals firm bought a stake in Qatar Fertiliser Co (QAFCO).
Saudi Arabia’s benchmark index firmed 0.2%, with oil giant Saudi Aramco gaining 0.3%, while Al Rajhi Bank was up 0.2%.
Aramco said on Sunday it was setting up a new corporate development organisation to oversee the company’s assets and secure greater access to growth markets and technologies.
Qatar’s index added 0.8%, as Industries Qatar surged 6.5%, reaching its highest level since May, after the petrochemical maker bought Qatar Petroleum’s 25% stake in QAFCO for $1 billion.
In Dubai, which traded after a session’s break, the index gained 1.1%, with blue-chip developer Emaar Properties rising 2.4% and Emirates NBD adding 1.4%.
Oil gains on storm-hit U.S. output and COVID-19 treatment hopes - Reuters
Oil gains on storm-hit U.S. output and COVID-19 treatment hopes - Reuters:
Crude oil prices rose on Monday as storms closed in on the Gulf of Mexico, shutting more than half its oil production, and on signs of progress in development of a COVID-19 treatment.
Brent crude LCOc1 was up 32 cents, or 0.7%, at $44.67 a barrel by 0753 GMT. U.S. West Texas Intermediate crude CLc1 rose 31 cents, or 0.7%, to $42.65.
“Prices are taking their cues from Mother Nature this morning as two storms bear down on the Gulf of Mexico. Half of the region’s production has been shut down, though gains will be limited by the threat of a second prolonged COVID wave,” said Stephen Brennock of oil broker PVM.
Energy companies shut more than 1 million barrels per day (bpd) of offshore crude oil production in the U.S. Gulf of Mexico because of the twin threat from Hurricane Marco and Tropical Storm Laura. Workers have been evacuated from more than 100 production platforms.
Crude oil prices rose on Monday as storms closed in on the Gulf of Mexico, shutting more than half its oil production, and on signs of progress in development of a COVID-19 treatment.
Brent crude LCOc1 was up 32 cents, or 0.7%, at $44.67 a barrel by 0753 GMT. U.S. West Texas Intermediate crude CLc1 rose 31 cents, or 0.7%, to $42.65.
“Prices are taking their cues from Mother Nature this morning as two storms bear down on the Gulf of Mexico. Half of the region’s production has been shut down, though gains will be limited by the threat of a second prolonged COVID wave,” said Stephen Brennock of oil broker PVM.
Energy companies shut more than 1 million barrels per day (bpd) of offshore crude oil production in the U.S. Gulf of Mexico because of the twin threat from Hurricane Marco and Tropical Storm Laura. Workers have been evacuated from more than 100 production platforms.
Subscribe to:
Posts (Atom)