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Gulf energy firms eye sukuks
- Saudi Arabia: Saturday, September 23 - 2006 at 08:27
Gulf Arab energy firms are considering issuing Islamic bonds in order to part finance their expansion plans, reported Reuters. The region's oil and gas firms have been able to obtain credit easily in the global markets but the scale of their anticipated spending makes sukuks a serious option. Saudi Aramco is planning to spend $50bn in the next few years, while Qatar is looking at financing $60bn worth of energy projects.
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Jonathan Sheikh-Miller, Deputy EditorSaturday, September 23 - 2006 at 08:27 UAE local time (GMT+4)
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