Saudi Energy Minister to Bloomberg TV: No plans to deepen oil production cuts
Riyadh, Monday 8 April, 2019: Khalid Al-Falih, Saudi Arabia’s Energy Minister, said the Kingdom does not plan to deepen its oil production cuts. He added that oil markets are “healthy.”
Speaking to Manus Cranny, Bloomberg Television, Al-Falih said that the OPEC+ meeting in May will be a “key” gathering. He added that it’s still “premature” to decide if they will cut inventory.
Other highlights from the interview include:
Investor demand for Saudi Aramco’s debut dollar bond has exceeded $30 billion, Al-Falih said. The securities, which haven’t priced yet, will be the first of many debt offerings by the company.
Al-Falih said he still hopes that Saudi Arabian Oil Co., as the company is formally known, will proceed with an initial public offering in 2021.
Aramco will have a “permanent presence” in capital markets, Al-Falih said, and in a couple of years investors will be able to buy either the company’s stock or bonds.
Posted by : Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina PR Network Editorial Team Viewed 4445 times PR Category :Energy and Industry Posted on : Monday, April 8, 2019 4:21:00 PM UAE local time (GMT+4)