Energy
Oil Plunges as OPEC Standoff with Russia Escalates
While the cartel and Moscow wait to see who blinks first, Brent could fall below the crucial USD50-mark by April.
6 Mar 2020
As Oil Plummets, Pemex Seeks to Shore Up Finances with Braskem Idesa Contract Renegotiation
Mexico’s president, who famously scrapped the partially-completed New Mexico Airport project, is similarly intent on cancelling the oil giant’s contract, which he feels was signed under unfavourable terms. What that will mean for Pemex’s credit – and for the already souring investor sentiment around Mexico – is another question.
29 Feb 2020
Additional State Support for Eskom Unlikely for Now, But Available if Needed
Measures to support the ailing South African state-owned utility introduced throughout the past year should prove sufficient as the government moves to break up the company into three separate entities, ING predicts, amid reports of new closure threats at its largest operational power plant.
26 Feb 2020
Sovcombank Sees Opportunities in Russia’s National Projects, Retail, and Green Finance
A number of large Russian banks were briefly teetering on the edge three years ago, as the industry was hit by a wave of bankruptcies and bad headlines. What followed was a five-year cleanse of the sector by the Central Bank and affiliated government agencies, and those lenders that came out unscathed at the end of it are now reaping the benefits of a less crowded and more stable industry. One of…
14 Feb 2020
Termocandelaria CEO, CFO on Colombia’s Rising Energy Capacity, Funding Plans, and Importance of ESG for Renewables Companies
In January 2019 Termocandelaria, the largest non-hydro power generation company in Colombia tapped the international capital markets for the first time with a USD410mn offering of 7.875% senior notes due 2029, marking the first corporate high-yield bond out of Latin America that year. A year on to the day, Termocandelaria re-tapped its existing bond for a further USD186mn at an impressive 110% of…
6 Feb 2020
Oil Price Volatility Provides Crucial Test for OPEC+
Oil prices continued to tumble during the first week of February as the coronavirus outbreak intensified, taking Brent Crude futures down nearly 12% year to date and sending OPEC+ scrambling to contain to counter the impact.
3 Feb 2020
Growing Non-OPEC Supply Offsets Rising Demand – National Bank of Kuwait
As trade tensions between the US and China begin to cool – at least for now – oil demand is due to grow at a modest rate of 1.2 million barrels per day, up from a multi-year low of 1 million barrels per day in 2019.
31 Jan 2020
Lekoil Loan Scam Could Harm Attempts to Fill Gaps Left by Oil Majors
A stunning scam that saw Nigerian oil company Lekoil discover a loan it had purportedly secured from the Qatar Investment Authority was fake could harm Nigeria’s efforts to plug a growing gap left by international oil and gas companies.
24 Jan 2020
Iran, Iraq, Libya, Key Geopolitical Risks to Oil Price - PIMCO
The past year has seen a number of geopolitical tensions flare up that could potentially impede oil production in a number of key producing countries, according to a recent note from PIMCO.
21 Jan 2020
Kenyan Economic Growth Slowed in 2019 – Cytonn
Last year saw Kenyan economic growth slow, largely due to underperformance in the agricultural, transport and electricity sectors, according to the Cytonn Annual Markets Review.
13 Jan 2020