Friday 2 June 2023 \


crude oil

Gulf bond sales fall as oil rises

The sale of Islamic bonds in the Gulf fell in the first half of 2018 as increasing oil prices lessened the region’s need to plug government deficits with additional fundraising, a report said.
The region saw Islamic bond - or sukuk - issuance fall by 32 percent to reach $16.7 billion in the first half of 2018, according to research on Tuesday from ratings agency Moody’s Investors Service.

Petroleum producers ‘shift attention from Mideast’

By John Kemp / reuters / 19 Aug 2014

Following four decades of war, sanctions, nationalisation and unrest, oil and gas producers are gradually adjusting to rely less on the Middle East.

The countries around the Gulf and on the Arabian Peninsula still contain the greatest concentration of giant and super-giant fields anywhere in the world and have some of the most attractive oil and gas geology.


Saudi Arabia to launch $9.5bn mining industrial city

Source : Al Arabiya / 5 Feb 2014

Saudi Arabia signed contracts worth 36 billion Saudi riyals ($9.5bn) for the establishment of a new mineral industrial city in Waad al-Shamal.

The kingdom’s mining company, Maaden, also signed a number of deals worth $3.6bn for the establishment of five new plants in the new city.


Saudi Arabia announces record $228 billion budget for 2014

Source : AFP / 25 Dec 2013

Saudi Arabia announced yesterday a record budget of $228 billion for 2014, slightly up from $218.7 billion budgeted for this year, Al-Ekhbariyah state news channel reported.

The world’s largest oil exporter also expected to conclude this year with a budget surplus of 206 billion riyals ($54.9 billion, 40 billion euros), after budgeting for a surplus of around $613 million.

Revenues in 2013 are expected to reach 1.131 trillion riyals compared with an expenditure of 925 billion riyals.


Reuters poll reveals gulf economies to grow in 2014 despite cheaper oil

Source : Reuters / 1 Oct 2013

Wealthy Gulf states are likely to see their oil and gas revenues drop next year but heavy government spending and increasingly energetic private sectors will keep economic growth robust, a Reuters poll showed.
Global oil prices are expected to fall moderately in 2014 as new supply comes on line from the United States, Iraq and other countries. Futures markets indicate lower prices next year.

GCC to standardize oil prices: Al-Naimi

Source : / 27 Sep 2013

Oil Minister Ali Al-Naimi unveiled plans of Gulf states to standardize petroleum prices.

“There is a study under way in this regard. Once the study is complete, we will make an announcement about it,” he told reporters at the end of a meeting with his Gulf counterparts here on Tuesday.


Sudan’s garbage economy a lifeline for scavengers

Source : AFP / 17 June 2013

Just after the footpath beside the school passes into the cool late afternoon shadows, a gentle cracking sound signals that Doud Sebet has arrived.

He sits on a piece of cardboard, with one long leg out in front of him and the other tucked underneath.


Crude Oil and condensates missed in Iran’s trade statistics

Source : / 23 May 2013

Iranian Customs Administration director Abbas Memarnejad announced that Iran exported $41.5 billion worth of non-oil goods, while it imported $53.3 billion worth of non-oil goods during the past Iranian calendar year, which ended on March 20.


U.S. senators seek to block Iran from billion-dollar reserves

Source : Reuters / 10 May 2013

Legislation introduced by a bipartisan group of U.S. senators on Wednesday would block Iran's access to billions of dollars worth of foreign currency reserves in the latest congressional effort to slow development of the Islamic Republic's disputed nuclear program.


Oil below $105 as Middle East risk premium fades

Source : Reuters / 8 May 2013 

Brent crude oil fell below $105 per barrel on Tuesday, after the risk premium caused by an Israeli air strike on Syria faded.

The benchmark hit its highest in nearly a month above $105 in the previous session on fears of supply disruption following Israeli air strikes on Syria close to Damascus.


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