Saudi Aramco CEO says will not issue more bonds this year

Saudi Aramco CEO Amin Nasser said on Thursday at the Financial Sector Conference in Riyadh that there will be no more Aramco bonds issued this year. (Screenshot/FSC YouTube)
Updated 25 April 2019
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Saudi Aramco CEO says will not issue more bonds this year

  • Nasser said a decision to list an Aramco IPO is up to the Saudi government
  • Oil firm was in discussions with lots of partners around the world regarding gas

RIYADH: Saudi Aramco CEO Amin Nasser said on Thursday that there will be no more Aramco bonds issued this year. 

Nasser said on Thursday that the oil firm was in discussions with lots of partners around the world regarding potential joint ventures or partnerships in international gas.

Speaking in Riyadh, Nasser said a decision to list an Aramco IPO is up to the Saudi government and will be done after its acquisition of a majority stake in Saudi petrochemical maker SABIC is closed.

More to follow...


Mideast tensions push oil prices toward biggest weekly gain in months

Updated 3 min 13 sec ago

Mideast tensions push oil prices toward biggest weekly gain in months

  • Saudi-led coalition launches military operation north of Yemen’s port city of Hodeidah
  • Global markets are also keeping an eye on US-China trade negotiations in Washington

SINGAPORE: Oil prices were on track to jump more than 7 percent this week, their biggest weekly rise in months, as early trading on Friday saw gains extended on fresh Middle East tensions after a key Saudi Arabian supply hub was knocked out in an attack last weekend.
A Saudi-led coalition launched a military operation north of Yemen’s port city of Hodeidah, as the United States worked with Middle East and European nations to build a coalition to deter Iranian threats after the Saudi attack.
Brent crude is on track to rise about 7.7 percent this week, the biggest weekly gain since January. The front-month November contract was at $64.75 a barrel, up 35 cents, by 0532 GMT.
US West Texas Intermediate (WTI) crude futures were up 51 cents to $58.64 a barrel, set to post a 7.1 percent gain for the week, the largest weekly rise since June.
“The forward curve remains ‘bid’ as traders are hedging that the initial estimates for the duration of repairs (at damaged Saudi facilities), given the complex nature, could well underestimate the time required,” said Stephen Innes, Asia Pacific market strategist at AxiTrader.
Saudi Arabia’s production dropped by almost half after an attack on Saturday, Sept. 14, crippled a major oil processing facility. Its oil minister has pledged to restore lost production by the end of this month, and bring capacity back to 12 million barrels per day by the end of November.
The United States and Saudi Arabia blame Iran for the assault on Saudi oil facilities. Tehran denies any involvement.
In the United States, meanwhile, torrential rain from Tropical Storm Imelda has forced a major refinery to cut production and to shut a key oil pipeline, terminals and a ship channel in Texas.
Global markets are also keeping an eye on US-China trade negotiations in Washington, as officials from both sides resumed face-to-face talks for the first time in nearly two months on Thursday.