Aramco's Dollar Sukuk Issuance Amid Surging Oil Prices and Escalating Middle East Tensions
Aramco to issue US dollar-denominated sukuk for global expansion. Oil prices rise due to China's monetary stimulus and Middle East tensions.
Saudi energy giant Aramco has announced plans to issue US dollar-denominated sukuk to support its global expansion and financial sustainability efforts. This issuance, under SA Global Sukuk Limited’s Trust Certificate Issuance Programme, will be listed on the London Stock Exchange following regulatory approvals, with Citi and Goldman Sachs International among the joint bookrunners.
Meanwhile, oil prices saw a rise on Tuesday due to China's new monetary stimulus and rising tensions in the Middle East impacting supply. Brent crude futures for November climbed by 84 cents to $74.74 a barrel, and US WTI crude futures for November increased by 92 cents to $71.29, as concerns about regional stability surged with Israeli airstrikes on Hezbollah sites.
In renewable energy news, UAE’s Masdar has acquired Spain's Saeta Yield for $1.4 billion from Brookfield, expanding its wind and solar assets within the Iberian Peninsula. This significant acquisition bolsters Masdar’s aim to escalate its renewable energy capacity to 100 GW by 2030, following a recent investment in 48 solar plants from Endesa.
Shifting our focus to Lebanon, the United Nations reported a massive exodus amid the deadliest Israeli air strikes in decades, which have resulted in at least 492 fatalities, including 35 children. The escalating conflict between Hezbollah and Israel has intensified since a Hamas attack on Israel last October, prompting UN officials to call for an immediate end to the hostilities.
Additionally, the UN Human Rights Chief, Volker Türk, has urged for diplomatic efforts to de-escalate the conflict between Israel and Hezbollah, as nearly 500 deaths and mass displacements overwhelm Lebanon's health sector. The UN and WHO are working tirelessly to provide new shelters for the displaced and manage the burgeoning humanitarian crisis.
Lastly, Iran's President Masoud Pezeshkian has called for international intervention amid the devastating Israeli air strikes on Lebanon, emphasizing that Hezbollah "cannot stand alone” against Israel. Iran has urged the UN Security Council to take immediate action, with Iranian Foreign Minister Abbas Araghchi reaffirming Iran's support for Lebanon and Palestine.
Meanwhile, oil prices saw a rise on Tuesday due to China's new monetary stimulus and rising tensions in the Middle East impacting supply. Brent crude futures for November climbed by 84 cents to $74.74 a barrel, and US WTI crude futures for November increased by 92 cents to $71.29, as concerns about regional stability surged with Israeli airstrikes on Hezbollah sites.
In renewable energy news, UAE’s Masdar has acquired Spain's Saeta Yield for $1.4 billion from Brookfield, expanding its wind and solar assets within the Iberian Peninsula. This significant acquisition bolsters Masdar’s aim to escalate its renewable energy capacity to 100 GW by 2030, following a recent investment in 48 solar plants from Endesa.
Shifting our focus to Lebanon, the United Nations reported a massive exodus amid the deadliest Israeli air strikes in decades, which have resulted in at least 492 fatalities, including 35 children. The escalating conflict between Hezbollah and Israel has intensified since a Hamas attack on Israel last October, prompting UN officials to call for an immediate end to the hostilities.
Additionally, the UN Human Rights Chief, Volker Türk, has urged for diplomatic efforts to de-escalate the conflict between Israel and Hezbollah, as nearly 500 deaths and mass displacements overwhelm Lebanon's health sector. The UN and WHO are working tirelessly to provide new shelters for the displaced and manage the burgeoning humanitarian crisis.
Lastly, Iran's President Masoud Pezeshkian has called for international intervention amid the devastating Israeli air strikes on Lebanon, emphasizing that Hezbollah "cannot stand alone” against Israel. Iran has urged the UN Security Council to take immediate action, with Iranian Foreign Minister Abbas Araghchi reaffirming Iran's support for Lebanon and Palestine.
