Regional News

  CHIBA / Reuters Japanese buyers of liquefied natural gas have shown cautious interest in Tellurian Inc’s bold guarantee of US LNG delivered at a fixed price from 2023, wary of locking themselves into a price that may eventually work to their disadvantage. Tellurian Chairman Charif Souki – who pioneered the first US LNG exports ex-Alaska as head of Cheniere ...

  Bloomberg Middle East international bond sales are off to the strongest ever start to a year as borrower demand for funds outstrips the firepower of local banks in an era of depressed oil prices. Hard-currency bond issuance from the six-nation Gulf Cooperation Council, which accounts for the bulk of the region’s capital markets and includes Saudi Arabia, its largest ...

  CHIBA / Reuters Producers of liquefied natural gas (LNG) have shot themselves in the foot with oversupply, and face calls for flexibility and greater competition from other fuels that may force them to take more risks and start trading just like other commodity dealers. That’s a big change for a market long dominated by large producers such as Royal ...

  Bloomberg Saudi Arabia has chosen a hybrid structure for its debut international sukuk, the prospectus for the offer showed, a format widely used in the Saudi local debt market, but not the most popular for sovereign issues. The Islamic bond, expected to go up to $10 billion, will be the country’s second international debt sale after a $17.5 billion ...

  Bloomberg Oil rose to the highest in almost a month as investor focus returned to US crude inventories after supply disruptions and optimism over OPEC’s output curbs drove a rally in the past week. Futures added as much as 1.3 percent in New York, the sixth increase in seven days. US stockpiles shrank by 1.83 million barrels last week, ...

  Bloomberg During the oil price rout, islands in the Caribbean were exhibit A for the longest-lasting glut in three decades, with millions of barrels stored there. Now, that oil is flowing again, a sign the market is rebalancing. Since mid-February, between 10 million and 20 million barrels have left the Caribbean, according to estimates from traders who asked not ...

  Bloomberg Oil’s rally above $50 a barrel is running out of steam after Libyan production returns, bringing the focus back to OPEC. Futures in New York extended losses after dropping 0.7 percent on Monday, following a 5.5 percent jump last week. While OPEC output fell by 200,000 barrels a day in March, the decline was helped by cuts in ...

  CHIBA / Reuters Inpex Corp’s $37 billion Ichthys Australian liquefied natural gas (LNG) project will start shipping ultra-light crude known as condensate by end-2017 and LNG shipments next year, one of the partners in the development said on Tuesday. The comments from Total Chairman and CEO Patrick Pouyanne suggest further slippage in a project that has in recent months ...

  Emirates Business For the first time, Saudi Arabia will host the ‘Top CEO Conference and Awards’ – an event which will see CEOs, CMOs, Presidents and VPs from across the Arabian Gulf region and beyond gather together on April 10-11 at Bay La Sun Hotel & Marina, King Abdullah Economic City. The annual event, now in its third edition, ...

  DOHA / Reuters Qatar has lifted a self-imposed moratorium on development of the world’s biggest natural gas field after more than a decade, the chief executive of state energy company Qatar Petroleum said on Monday. The giant Gulf gas field, which Doha calls the North Field and Iran calls South Pars, accounts for nearly all of Qatar’s gas production ...