Posts filtered by tags: Rupert Neil Bumfrey[x]


 

#Dubai imposes two-week lockdown as Gulf states step up coronavirus fight - Reuters

Dubai imposes two-week lockdown as Gulf states step up coronavirus fight - Reuters:Dubai imposed a two-week lockdown Saturday night and Saudi Arabia sealed off parts of the Red Sea city of Jeddah as Gulf states tightened measures in big cities to contain the spread of the coronavirus. FILE PHOTO: Police car patrols Al Ras district, famous for its gold and spice markets, after a full lockdown, following the outbreak of the coronavirus disease (COVID-19), in Dubai, United Arab Emirates, Ma...
Tags: Travel, Saudi Arabia, Wam, United Arab Emirates, Dubai, Jeddah, Gulf, Reuters, Red Sea, DUBAI United Arab Emirates, Interior Ministry, Gulf Cooperation Council GCC, Rupert Neil Bumfrey


NMC Health News: ADCB Asks U.K. Court for Administration - Bloomberg

NMC Health News: ADCB Asks U.K. Court for Administration - Bloomberg:One of NMC Health Plc’s biggest creditors asked a court to put the troubled hospital operator into administration, prompting the company to counter that such an action would endanger the lives of people living in the United Arab Emirates as the coronavirus rages.Abu Dhabi Commercial Bank PJSC said Saturday it applied on April 2 to the U.K.’s High Court for the appointment of administrators to take control of NMC Health and inve...
Tags: Travel, United Arab Emirates, Uae, NMC, Rupert Neil Bumfrey, ADCB, NMC Health, NMC Health Plc, Abu Dhabi Commercial Bank PJSC, NMC Health News, Faisal Belhoul, ADCB Asks U K Court for Administration Bloomberg, U K 's High Court, Belhoul


Trump says he will consider tariffs on oil imports to protect U.S. jobs - Reuters

Trump says he will consider tariffs on oil imports to protect U.S. jobs - Reuters:U.S President Donald Trump said on Saturday that he will consider imposing tariffs on oil imports as he criticized plans by other major global oil producers to cut output, suggesting the United States will not join them.“It’s going to hurt a lot of jobs in our country, this price,” Trump told reporters during a daily briefing. “If I have to do tariffs...I’ll do whatever I have to do.”The Organization of the Petrole...
Tags: Travel, Saudi Arabia, White House, Opec, United States, Donald Trump, Trump, Reuters, Petroleum Exporting Countries OPEC, Rupert Neil Bumfrey


OPEC+ Meeting to Be Delayed on New #Saudi, Russia Rift - Bloomberg

OPEC+ Meeting to Be Delayed on New Saudi, Russia Rift - Bloomberg: The OPEC+ meeting to try to end the oil price war is unlikely to go ahead of Monday as previously expected, as Riyadh and Moscow engaged on a war of words about who’s to blame for the collapse in oil prices.The OPEC+ alliance needs more time for negotiations, a delegate familiar with th matter said, noting the meeting may still happen a few days later.Saudi Arabia made a pointed diplomatic attack on Russian President Vladimir Put...
Tags: Travel, Putin, Vladimir Putin, Saudi Arabia, Russia, Opec, Moscow, Riyadh, Rupert Neil Bumfrey, Prince Faisal bin Farhan, Russia Rift Bloomberg


NMC Convertible Bondholders Tap PJT Ahead of Debt Restructuring - Bloomberg

NMC Convertible Bondholders Tap PJT Ahead of Debt Restructuring - Bloomberg:NMC Health Plc convertible bondholders are working with PJT Partners Inc. as the troubled Middle Eastern hospital operator prepares for a restructuring, people with knowledge of the matter said.PJT is advising a group of investors in NMC Health’s $360 million of convertible bonds due 2025, the people said, asking not to be identified because the information is private.NMC Health’s known debt pile has more than tripled in...
Tags: Travel, Bloomberg, Middle East, Pwc, JPMorgan Chase Co, NMC, Rupert Neil Bumfrey, PJT Partners Inc, NMC Health, NMC Health Plc, Matthew Wilde, Debt Restructuring Bloomberg


It was Russia, not #SaudiArabia, that pulled out of OPEC+ deal: Saudi ministers | ZAWYA MENA Edition

It was Russia, not Saudi Arabia, that pulled out of OPEC+ deal: Saudi ministers | ZAWYA MENA Edition:Saudi Arabia's foreign and energy ministers on Saturday denied Russia's claim that the Kingdom abandoned the OPEC+ deal, leading to a collapse in world oil prices.In a statement carried by the Saudi Press Agency (SPA), Foreign Minister Prince Faisal bin Farhan said "a statement attributed to one of the media of President Vladimir Putin of the Russian Federation claimed that one of the reasons for...
Tags: Travel, Vladimir Putin, Saudi Arabia, Russia, Kingdom, Opec, Russian Federation, Saudi Press Agency, Rupert Neil Bumfrey, Prince Faisal bin Farhan


OPEC+ emergency meeting likely to be postponed to April 8 or 9: OPEC sources - Reuters

OPEC+ emergency meeting likely to be postponed to April 8 or 9: OPEC sources - Reuters:OPEC and its allies will not hold their emergency virtual meeting on Monday and will likely postpone it until April 8 or 9 to allow more time for negotiations among oil producers on crude supply cuts, two OPEC sources said on Saturday. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Opec, Reuters, Rupert Neil Bumfrey


#Saudi energy minister rejects Russian comments about kingdom's withdrawal from OPEC+ deal - Reuters

Saudi energy minister rejects Russian comments about kingdom's withdrawal from OPEC+ deal - Reuters:The Saudi energy minister on Saturday rejected Russia’s remarks that the kingdom withdrew last month from a deal to cut output.Prince Abdulaziz bin Salman was responding to comments made by his Russian counterpart on Friday, according to a statement carried by Saudi state news agency SPA. “The Russian Minister of Energy was the first to declare to the media that all the participating countries are...
Tags: Travel, Russia, Opec, Reuters, Abdulaziz, Rupert Neil Bumfrey, Abdulaziz bin Salman


Oil Market Is Desperate for #SaudiArabia to Flatten the Curve - Bloomberg

Oil Market Is Desperate for Saudi Arabia to Flatten the Curve - Bloomberg:It is entirely fitting that the one of best performing energy stock on Friday morning was recently bankrupt Whiting Petroleum Corp. As President Donald Trump’s initial tweet-heard-round-the-(oil)-world has snowballed into a seething mass of optimistic rumor, so the more — how to put this? — speculative stocks have floated to the top. Just as crude oil recorded a 25% gain Thursday by moving all of $5 a barrel, Whiting was n...
Tags: Travel, Saudi Arabia, Russia, Donald Trump, Trump, WHITING, Whiting Petroleum Corp, Rupert Neil Bumfrey, ClearView Energy Partners, Curve Bloomberg, Kevin Book


#UAE Hires Adviser to Fix Top Middle East Remittance House - Bloomberg

U.A.E. Hires Adviser to Fix Top Middle East Remittance House - Bloomberg:The United Arab Emirates central bank has hired an adviser to help sort out debt and operational issues at one of the Middle East’s largest remittance businesses, according to people with knowledge of the matter.Alvarez & Marsal Holdings LLC is advising the central bank on the management of UAE Exchange, the people said, asking not to be identified because the information is private. The regulator last month took the rare s...
Tags: Travel, London, Middle East, United Arab Emirates, Uae, UAE Exchange, Rupert Neil Bumfrey, Bavaguthu Raghuram Shetty, Finablr Plc, Fix Top Middle East Remittance House Bloomberg, Alvarez Marsal Holdings LLC


#Saudi king earmarks $2.4 billion to pay private-sector workers - Reuters

Saudi king earmarks $2.4 billion to pay private-sector workers - Reuters:Saudi Arabia’s King Salman has ordered up to 9 billion riyals ($2.4 billion) to be disbursed to pay part of the wages of private-sector workers to deter companies from laying off staff, the state-run Saudi Press Agency reported on Friday.The latest measure to tackle the fallout from the coronavirus outbreak followed an emergency stimulus package announced last month to shore up the economy.“Instead of terminating the employ...
Tags: Travel, Saudi Arabia, Spa, Reuters, Salman, Saudi Press Agency, Rupert Neil Bumfrey, Mohammed al Jadaan


Deep oil output cuts won't offset unprecedented demand loss: IEA - Reuters

Deep oil output cuts won't offset unprecedented demand loss: IEA - Reuters:Deep output cuts by OPEC and other oil producing nations will not prevent a huge build up of crude, the head of the IEA said on Friday, urging the world’s richest economies to discuss broader ways to stabilise oil markets.Fatih Birol, executive director of the International Energy Agency, told Reuters that measures to contain the spread of the coronavirus had lead to an “unprecedented” demand loss that could reach as much...
Tags: Travel, Opec, IEA, Reuters, International Energy Agency, Fatih Birol, Rupert Neil Bumfrey, Birol, Abdulaziz bin Salman, Saudi Arabian Energy, IEA Reuters


Oil surges more than 13% on hopes of output deal - Reuters

Oil surges more than 13% on hopes of output deal - Reuters:Crude futures surged for a second day on Friday, with both U.S. and Brent contracts posting their largest weekly percentage gains on record due to hopes that a global deal to cut crude supply worldwide will emerge early next week.On Thursday, oil staged its largest one-day rally in history on prospects for a cut in supply equivalent to anywhere from 10% to 15% of world demand. The sharp rebound from weeks of losses came after U.S. Presid...
Tags: Travel, Saudi Arabia, Russia, United States, Brent, Donald Trump, Trump, Reuters, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Brent crude rises above $32 on hopes of oil output deal - Reuters

Brent crude rises above $32 on hopes of oil output deal - Reuters:Benchmark Brent crude oil futures rose as high as $33.37 a barrel on Friday on rising hopes of a new global deal to cut global crude supply.Brent crude LCOc1 futures were up 8.9%, or $2.67, at $32.61 a barrel by 1134 GMT. Brent soared as much as 47% on Thursday for its highest intraday percentage gain on record. It closed 21% up, still about half the $66 at which it was trading at the end of 2019.U.S. West Texas Intermediate (WTI)...
Tags: Travel, Opec, Brent, Donald Trump, Reuters, Rupert Neil Bumfrey


Oil Surges as OPEC+ Prepares for Urgent Meeting on Monday - Bloomberg

Oil Surges as OPEC+ Prepares for Urgent Meeting on Monday - Bloomberg:Oil advanced back above $31 a barrel in London, reversing earlier declines, as OPEC+ scheduled an urgent meeting next week after a historic slump in prices that has crippled the energy sector.The coalition will hold a meeting by video conference on Monday, though it’s still not clear who will attend, according to delegates. News of the plan came just hours after U.S. President Donald Trump said he expected global producers inc...
Tags: Travel, London, Saudi Arabia, Russia, Opec, Bloomberg, Donald Trump, Rupert Neil Bumfrey


#SaudiArabia News: Oil War in Second Month With Prices for May - Bloomberg

Saudi Arabia News: Oil War in Second Month With Prices for May - Bloomberg:Vanishing demand and alternative grades at never-seen-before prices are fueling expectations that Saudi Aramco will need to price its crude at aggressively low levels this month to keep its customers satisfied. The world’s biggest oil exporter is due to announce its official selling prices for May shipments this Sunday. It comes a month after the kingdom discounted April supplies by the most in at least 20 years as it e...
Tags: Travel, Saudi Arabia, Russia, Bloomberg, Saudi Aramco, Middl, Rupert Neil Bumfrey


New members may join OPEC+ alliance: RIA quotes source - Reuters

New members may join OPEC+ alliance: RIA quotes source - Reuters:A number of countries want to join an existing alliance between the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC members, RIA news agency said on Friday, citing a source.Adding new members as well as a massive production cut by 10 million barrels of oil per day could be discussed at a meeting on April 6, the source told RIA. There are no cut allocations yet, RIA added. [Author: [email protected] (Ruper...
Tags: Travel, Opec, Reuters, RIA, Petroleum Exporting Countries OPEC, Rupert Neil Bumfrey


OPEC+ producers debate possible oil cuts of 10 million bpd: OPEC source - Reuters

OPEC+ producers debate possible oil cuts of 10 million bpd: OPEC source - Reuters:The OPEC+ crude oil exporter group is debating cutting global supply by 10 million barrels per day (bpd), an OPEC source said on Friday, adding that any further cuts must include producers from outside the alliance.U.S. President Donald Trump on Thursday said he had brokered a deal that could result in Russia and Saudi Arabia cutting output by 10 million to 15 million bpd, representing 10-15% of global supply. Trum...
Tags: Travel, Saudi Arabia, Russia, Opec, Donald Trump, Trump, Reuters, Rupert Neil Bumfrey


Brent reverses losses to rise above $30/bbl in early European trading - Reuters

Brent reverses losses to rise above $30/bbl in early European trading - Reuters:Benchmark Brent crude oil futures reversed losses incurred during Asian hours in early European trading on Friday to rise above $30 a barrel, with hopes of a huge global supply cut deal to support prices still alive.Brent crude LCOc1 futures were up 7%, or $2.10, at $32.04 per barrel by 0748 GMT. Brent soared as much as 47% during Thursday’s session, its highest intraday percentage gain ever, before closing 21% highe...
Tags: Travel, Saudi Arabia, Russia, Brent, Donald Trump, Trump, Reuters, Rupert Neil Bumfrey


U.S. crude futures fall 2% at open - Reuters

U.S. crude futures fall 2% at open - Reuters:Benchmark U.S. crude fell 2% at open on Friday, coming off its biggest one-day gain in the previous session after President Donald Trump said he expected Saudi Arabia and Russia to announce a major oil production cut.U.S. West Texas Intermediate (WTI) crude CLc1 futures were down 1.8%, or 45 cents, at $24.87 at 2204 GMT, after having surged 24.7% on Thursday. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Saudi Arabia, Russia, Donald Trump, Reuters, Rupert Neil Bumfrey


Oil soars after Trump says Saudis and Russians to cut output - Reuters

Oil soars after Trump says Saudis and Russians to cut output - Reuters:Crude prices soared on Thursday after U.S. President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil.Trump said he had spoken to Saudi Crown Prince Mohammed bin Salman, and expects Saudi Arabia and Russia to cut oil output by as much as 10 million to 15 million barre...
Tags: Travel, Saudi Arabia, Russia, Donald Trump, Wall Street Journal, Trump, Reuters, Mohammed bin Salman, Rupert Neil Bumfrey


Petrofac seeks redundancies, considers salary cuts - email - Reuters

Petrofac seeks redundancies, considers salary cuts - email - Reuters:Oilfield services provider Petrofac is launching a redundancy programme that it expects will end up reducing staff numbers by 20% as it seeks to cope with plunging oil prices, according to a source and an internal email seen by Reuters.The Britain-based company, which said redundancies would be voluntary but could become compulsory if not enough people took up the offer, said it might also consider reducing base salaries by at ...
Tags: Travel, Britain, Petrofac, Reuters, Rupert Neil Bumfrey, Ayman Asfari, Petrofac Group


#SaudiArabia calls for an urgent OPEC+ meeting to rebalance oil markets - Saudi Gazette

Saudi Arabia calls for an urgent OPEC+ meeting to rebalance oil markets - Saudi Gazette:Saudi Arabia called for an urgent meeting of OPEC+ and a group of other countries, with the aim of seeking a fair agreement that will restore balance to the oil markets, Saudi Press Agency (SPA) reported.According to the report, the call for the meeting comes in the framework of the Kingdom's constant efforts to support the global economy in this exceptional circumstance.The meeting was called also in appreci...
Tags: Travel, Saudi Arabia, Kingdom, US, Opec, United States, Donald Trump, Rupert Neil Bumfrey, Saudi Press Agency SPA


Exclusive: Trump does not plan to ask U.S. oil producers for coordinated cuts - official - Reuters

Exclusive: Trump does not plan to ask U.S. oil producers for coordinated cuts - official - Reuters:The United States does not know formal details of Saudi Arabian and Russian plans to reduce oil supply yet and will not ask U.S. domestic oil producers to chip in with their own cuts, a senior administration official told Reuters on Thursday.Earlier, President Donald Trump said in a tweet that he expected Saudi Arabia and Russia to cut approximately 10 million barrels from daily production, a comme...
Tags: Travel, Saudi Arabia, Russia, United States, Donald Trump, Trump, Reuters, Saudi Arabian, Rupert Neil Bumfrey


#Saudi Telecom Delays $2 Billion-Debt Talks for Vodafone Deal - Bloomberg

Saudi Telecom Delays $2 Billion-Debt Talks for Vodafone Deal - Bloomberg:Saudi Telecom Co. has postponed talks to raise debt to fund the acquisition of Vodafone Group Plc’s stake in its Egyptian business because of the coronavirus outbreak, according to people with knowledge of the matter.Work on the acquisition is still continuing and the kingdom’s largest telecoms operator may resume negotiations with banks for a loan of more than $2 billion once things have settled, the people said, asking no...
Tags: Travel, Vodafone, Vodafone Group Plc, Rupert Neil Bumfrey, Saudi Telecom, Saudi Telecom Co, Vodafone Egypt, Saudi Telecom Delays, Vodafone Deal Bloomberg


Oil soars by most on record after Trump says Saudis and Russians to cut output - Reuters

Oil soars by most on record after Trump says Saudis and Russians to cut output - Reuters:Oil prices soared over 30% - on track for the most in a day on record - following reports U.S. President Donald Trump expects Russian President Putin and the Saudi Crown Prince to announce an oil production cut of 10 million to 15 million barrels.Brent futures rose $8.04, or 33%, to $32.78 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $6.62, or 33%, to $26.93.That puts Brent on track for its ...
Tags: Travel, Putin, Trump, Reuters, Rupert Neil Bumfrey, U S President Donald Trump


Middle East, #Kuwait Coronavirus News: Central Bank on Liquidity - Bloomberg

Middle East, Kuwait Coronavirus News: Central Bank on Liquidity - Bloomberg:Kuwait’s central bank reduced capital adequacy requirements for banks by 2.5%, and eased the risk weighting for small and medium-sized enterprises to 25% from 75% to provide extra liquidity for vital parts of the economy through the coronavirus outbreak. The central bank also increased banks’ maximum available lending limit to 100% from 90% Raised the allowable percentage of financing for residential developments acc...
Tags: Travel, Kuwait, Middle East Kuwait, Rupert Neil Bumfrey, Central Bank on Liquidity Bloomberg


#Qatar News: Plans to Raise $5 Billion in Bond Market on Oil Rout - Bloomberg

Qatar News: Plans to Raise $5 Billion in Bond Market on Oil Rout - Bloomberg:Qatar, the world’s biggest exporter of liquefied natural gas, hired banks to raise more than $5 billion in bonds as early as next week to shore up its finances against the global coronavirus pandemic and oil-price war.The gas-rich Gulf state mandated banks including Standard Chartered Plc, JPMorgan Chase & Co., Barclays Plc and Deutsche Bank AG for the sale, according to people with knowledge of the matter who asked not...
Tags: Travel, Qatar, Bloomberg, Gulf, Ministry Of Finance, Deutsche Bank AG, Rupert Neil Bumfrey


UPDATE 1-Middle East, Africa governments need to act faster to protect airlines - IATA - Reuters

UPDATE 1-Middle East, Africa governments need to act faster to protect airlines - IATA - Reuters:Middle Eastern and African governments must act faster to protect their airlines, the International Air Transport Association said on Thursday, warning their losses from the coronavirus pandemic had risen to $23 billion.Several states have stepped in to help their airlines that have seen demand decimated by the global outbreak, such as the United States, Singapore and Australia, though few in the Mid...
Tags: Travel, Australia, Africa, Middle East, Middle East Africa, International Air Transport Association, United States Singapore, Rupert Neil Bumfrey, IATA Reuters, IATA Africa, Muhaammad Ali Albakri


Benchmark Brent's record $10 discount gives oil market reality check - Reuters

Benchmark Brent's record $10 discount gives oil market reality check - Reuters:U.S. President Donald Trump’s confidence he can get a deal to limit a global oil glut has driven world crude futures higher.But he cannot talk up the underlying physical market that shows the full extent of the demand destruction following the coronavirus outbreak.The Brent crude oil benchmark, used to price more than half the world’s physical crude cargoes, has dropped to a record discount to Brent oil futures of abo...
Tags: Travel, Donald Trump, Reuters, Rupert Neil Bumfrey