Oil tanks seen at the Saudi Aramco facility in Dammam. Reuters
Saudi Aramco is set to raise $12 billion with its first international bond issue after receiving more than $100 billion in orders, a record breaking vote of market confidence for the oil giant. State-owned Aramco›s bond issue, split into maturities ranging from three to 30 years, is seen as a gauge of potential investor interest in the Saudi company›s eventual initial public offering.
Riyadh is committed to “stabilise” the oil market after a US decision to end sanction exemptions for Iran’s customers, Saudi Arabia›s Energy Minister Khalid Al Falih said on Monday. The kingdom reaffirms its longstanding policy, which seeks to stabilise the markets at all times,” he said in a statement carried by the official Saudi Press Agency.
The United Arab Emirates has expressed its deep regret and condemnation of the recognition by the United States of the Syrian Golan Heights as sovereign Israeli territory, describing it as a move that disrupts all efforts to achieve a lasting peace in the Middle East.
Chevron will buy Anadarko Petroleum for $33 billion in a cash-and-stock, energizing its deep water exploration in the gulf and in the energy-rich southwest region of Texas called the Permian Basin. The deal announced Friday comes with US crude prices up 40% this year and vaults Chevron into a new league. While the combined company will remain far behind Exxon Mobil Corp. a
Etisalat Group on Tuesday announced that its consolidated revenues amounted to Dhs13 billion and consolidated net profit after Federal Royalty amounted to Dhs2.2 billion representing a year over year (y-o-y), increase of five percent and resulting in a net profit margin of 17 per cent.
The fourth Annual General Meeting (AGM) of Emaar Malls, approved the distribution of Dhs1.301 billion ($354 million) dividend, representing 10 per cent of the share capital being 10 fils per share, to the shareholders.
Investors on Tuesday traded with caution anticipating a further rise in the international oil prices, and conclusion of the third and largest phase of the general elections. Sensex ended 80 points lower after a range-bound movement throughout the day’s trade.