DUBAI: Gulf Arab energy companies are expected to borrow more in 2019 to finance expansion plans after rising oil prices triggered a sharp retreat from debt markets in 2018.
Higher oil prices eased pressure on government budgets in Gulf Cooperation Council countries in 2018 and allowed the region’s energy companies to self-finance operations, according to Rory Fyfe, chief economist at MENA Advisors. That’s a shift from 2017 when lower oil prompted companies to issue record debt.
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