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.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!