BAHRAIN ENERGY FUND: $1 BLN
OGJ - Bahrain plans to raise $1 billion for energy investments in a fund the government calls unique among Gulf Cooperation Council countries.
Investments will include development of Bahrain Petroleum Co.'s recent offshore discovery in an unconventional reservoir, estimated to hold 80 billion bbl of oil in place.
Funds also will be used for other upstream work as well as downstream projects.
The Bahrain Energy Fund will be backed by the government, which seeks to raise funds from financial institutions in the kingdom.
In a related move, the Bahrain Development Bank announced a venture capital initiative, the $100 million Al Waha Fund of Funds, to attract investment firms to the island nation and support business start-ups.
|December, 17, 10:50:00|
|December, 17, 10:40:00|
|December, 17, 10:35:00|
|December, 17, 10:30:00|
|December, 17, 10:25:00|
|December, 17, 10:20:00|
TP - With fast growing demand and expanding gas receiving capacity in Pakistan, the South Asian nation is expected to source more liquefied natural gas (LNG) from Qatar, said the country’s visiting Finance Minister Asad Umar.
REUTERS - Qatar Petroleum (QP) is looking to invest at least $20 billion in the United States over the coming few years, its chief executive told Reuters, after the Gulf Arab state unexpectedly quit OPEC this month.
U.S. FRB - U.S. industrial production rose 0.6 percent in November after moving down 0.2 percent in October; the index for October was previously reported to have edged up 0.1 percent. In November, manufacturing production was unchanged, the output of mining increased 1.7 percent, and the index for utilities gained 3.3 percent.
BHGE - U.S. Rig Count is down 4 rigs from last week to 1,071, with oil rigs down 4 to 873 and gas rigs unchanged at 198. Canada Rig Count is down 12 rigs from last week to 174, with oil rigs down 7 to 95 and gas rigs down 5 to 79.