A Kuwaiti oil company listed on the local bourse, Energyhouse, has received an offer to sell its controlling share in its UAE subsidiary. The company is currently evaluating the proposal for its 92.5 percent stake in this subsidiary. Energyhouse confirmed in a bourse disclosure statement that it has received a preliminary, non-binding offer. The statement...
Gulf Cooperation Council (GCC) countries accounted for over 35 percent of all emerging-market (EM) U.S. dollar debt issued in the first quarter of 2025, excluding China. This represents an increase from approximately 25 percent in 2024, according to a report by Fitch Ratings. Fitch predicts that this upward trend in GCC debt capital markets (DCMs)...
Saudi Arabia’s Public Investment Fund (PIF) has reached out to bond investors for the second time this year, continuing its efforts to invest billions of dollars as part of a strategy to reduce the economy’s dependence on oil. PIF is currently accepting orders for a sale of benchmark-sized, U.S. dollar-denominated seven-year Islamic bonds, known as...
Ahmad Al Anani, Founder and CEO of Sancta Capital, has noted that Abu Dhabi is often viewed negatively by investors, yet he believes the city’s valuations present compelling investment opportunities. He emphasized that while broader risks exist due to the Middle East’s exposure to fluctuating oil prices, it is essential not to generalize the entire...
Oil prices have experienced significant volatility in recent weeks, leading analysts to speculate that they could decline further. This potential drop is contingent on the decisions made by Opec+, which is scheduled to meet early next month to discuss supply levels. Analysts indicate that if Opec+ opts to boost oil supply during this meeting, it...
OPEC+ is set to hold a meeting on May 5, where eight member countries will discuss the plan for oil output in June. Some members are proposing to accelerate oil output increases for a second consecutive month, following a significant rise in May. In April, oil prices fell to a four-year low due to factors...
Saudi Arabia has announced new regulations allowing visitors to the country to claim back value-added tax (VAT) in an effort to boost the tourism industry. However, the government also plans to expand the tax base to include online transactions, which reflects its need to adapt to declining oil revenues. As the world’s second-largest oil producer,...
Saudi Aramco has confirmed the discovery of 14 new oil and gas fields, a significant development that enhances the kingdom’s already extensive energy portfolio. This announcement was reported by Reuters, indicating that the discoveries will play a crucial role in bolstering Saudi Arabia’s position in the global energy market. The new fields are expected to...
Saudi Arabia’s state news agency has announced that the country’s oil giant, Aramco, has made significant discoveries by locating 14 new oil and natural gas fields in the Eastern Region and the Empty Quarter. This development is particularly important as many major oil producers are currently facing budget constraints due to low prices in the...
On Sunday, Saudi Arabia, the world’s leading oil exporter, significantly lowered its May crude oil prices for Asian buyers. This move is seen as a strategic decision ahead of an anticipated output increase by OPEC+, the coalition of oil-producing nations that includes Saudi Arabia and its allies. The reduction in prices is expected to have...