Saturday, January 28, 2023
  • Submit news
  • Contact
  • DMCA
  • Cookie Privacy
  • Privacy Policy
  • Terms of Use
Oil Market News
  • Home
  • Marketdaily
  • Price
  • crudenow
  • Companies
  • politics
  • Gas
  • investing
  • Stock
  • OPEChot
  • brend
  • ships
Oil Market News
Home OPEC

OPEC Fund raises $1 billion via sustainability bond

1 week ago
in OPEC
OPEC Fund raises $1 billion via sustainability bond
Share on FacebookShare on Twitter


The OPEC Fund for International Development announced Friday that it raised $1 billion via a bond. 

The OPEC Fund offered the bond for sale on Wednesday, and this is the first time ever it has sold the debt instrument. The three-year, fixed-rate bond will go toward financing sustainability-related projects, the fund said in a press release. 

The bond will pay investors at an interest rate of 4.5%, according to Reuters. 

A 52% majority of investors were from Europe, the Middle East and Africa, with another 27% from Asia. Central banks and other official financial institutions constituted 62% of the investors, followed by private banks at 19%, according to the OPEC Fund. 

The bond was notably not available for sale in the United States due to it not being registered there, per the press release. 

The OPEC Fund for International Development was established by the Organization of the Petroleum Exporting Countries (OPEC). It focuses on projects in developing countries. 

Why it matters: Many Middle Eastern states are members of OPEC, and Saudi Arabia is the largest producer in the cartel. 

The OPEC Fund’s offering of a sustainability-focused bond is in line with OPEC members’ increasing interest in funding projects related to the environment. Saudi Arabia offered green bonds in October to fund environmentally friendly projects. In December, a facility opened in the UAE to convert waste into green hydrogen. 

Know more: OPEC, Russia and other oil producers in the OPEC+ alliance decided during their December meeting to maintain their production cut of 2 million barrels per day. OPEC+ will meet again in February to discuss production levels. 

The price of Brent crude oil was $86 a barrel as of 11:00 am ET Friday. Prices have hovered between approximately $98 and $77 a barrel since OPEC+ first announced the cut in October. Brent crude is considered the global benchmark for oil prices. 

Saudi Foreign Minister Prince Faisal bin Farhan Al Saud touted “stability” in the oil market at the World Economic Forum this week. 





news.google.com

Latest Oil News

OPEC to Stay the Course on Oil Production Agreement; China’s Reopening Bullish for

OPEC to Stay the Course on Oil Production Agreement; China’s Reopening Bullish for

January 27, 2023
Biden vowed to punish Saudis over OPEC cut. That’s no longer the plan

Biden vowed to punish Saudis over OPEC cut. That’s no longer the plan

January 26, 2023
Oil Steadies as Traders Look to China, OPEC for Fresh Triggers

Oil Steadies as Traders Look to China, OPEC for Fresh Triggers

January 25, 2023
FG tasks 2023 OPEC’s President on attracting investments in oil

FG tasks 2023 OPEC’s President on attracting investments in oil

January 24, 2023
Tags: billionBondfundOPECRaisessustainability
Previous Post

SLB Stock Drops On Strong Earnings, Bullish 2023 Outlook For Oil And Gas| Investor’s

Next Post

Battalion Announces Appointment of New Chief Financial Officer and Appointment of

Related Posts

OPEC to Stay the Course on Oil Production Agreement; China’s Reopening Bullish for

OPEC to Stay the Course on Oil Production Agreement; China’s Reopening Bullish for

by Oil Market News
January 27, 2023
0

OPEC to Stay the Course on Oil Production Agreement; China's Reopening Bullish for Commodities, RBC Capital Markets Says Marketscreener.comOil Gains...

Biden vowed to punish Saudis over OPEC cut. That’s no longer the plan

Biden vowed to punish Saudis over OPEC cut. That’s no longer the plan

by Oil Market News
January 26, 2023
0

Comment on this storyCommentMonths after the White House vowed to punish Saudi Arabia for cutting oil output in defiance of...

Oil Steadies as Traders Look to China, OPEC for Fresh Triggers

Oil Steadies as Traders Look to China, OPEC for Fresh Triggers

by Oil Market News
January 25, 2023
0

Oil edged higher in a volatile session as technical market indicators signaled to traders that higher prices may be around...

FG tasks 2023 OPEC’s President on attracting investments in oil

FG tasks 2023 OPEC’s President on attracting investments in oil

by Oil Market News
January 24, 2023
0

“It is estimated that about 640 million Africans have no access to electricity” The Federal Government on Tuesday, tasked Equatorial...

Davos 2023: Big oil comes in from the cold on energy transition

Davos 2023: Big oil comes in from the cold on energy transition

by Oil Market News
January 23, 2023
0

Energy transition front and centre at Davos meetingEurope energy crisis forces moment of reckoningClimate activists sceptical of oil industry inclusionDAVOS,...

Will OPEC+ Cut Production In Early 2023?

Will OPEC+ Cut Production In Early 2023?

by Oil Market News
January 22, 2023
0

The OPEC narrative for 2022 was largely about the realities of supply and demand against the backdrop of a post-pandemic...

Next Post
InPlay Oil to Webcast Live at OTC/OTCQX Virtual Investor Conference on February 3

Battalion Announces Appointment of New Chief Financial Officer and Appointment of

Subscribe
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Trend Oil News

How India’s Hunger For Oil Could Transform The Middle East

How India’s Hunger For Oil Could Transform The Middle East

9 months ago
The AP Interview: Sri Lanka PM says he’s open to Russian oil

The AP Interview: Sri Lanka PM says he’s open to Russian oil

8 months ago
Why Oil Bulls Aren’t Backing Down

Why Oil Bulls Aren’t Backing Down

9 months ago
Crude Oil Price Forecast – Crude Oil Markets Do Little During Holiday

Crude Oil Price Forecast – Crude Oil Markets Do Little During Holiday

9 months ago
Top stocks of 2022: These 10 companies are up more than 30% this year

Top stocks of 2022: These 10 companies are up more than 30% this year

4 months ago
ADVERTISEMENT
Bob Simpson’s TXO Energy goes public, soars 10% on first trading day

Bob Simpson’s TXO Energy goes public, soars 10% on first trading day

January 27, 2023

Internet of Things-as-a-Service to Enable Improved Opportunities

January 27, 2023

U.S. lawmakers ask Kerry to urge UAE to replace oil boss as COP28 president By

January 27, 2023

White House blasts Big Oil stock buybacks again as Chevron profits double

January 27, 2023

OPEC to Stay the Course on Oil Production Agreement; China’s Reopening Bullish for

January 27, 2023

Trinity To Spud Jacobin Well In Second Quarter Of 2023

January 27, 2023

Crude Oil

German Crude Oil Imports Rose 11% in 2022 As Crude Import Bill Doubles

German Crude Oil Imports Rose 11% in 2022 As Crude Import Bill Doubles

January 27, 2023
Europe Is Diversifying Its Diesel Sources Ahead Of Ban On Russian Fuel

Europe Is Diversifying Its Diesel Sources Ahead Of Ban On Russian Fuel

January 26, 2023
Opinion | Should the Strategic Petroleum Reserve Be Used Now?

Opinion | Should the Strategic Petroleum Reserve Be Used Now?

January 25, 2023
Rising Crude, Oil Products Inventories Weigh On Oil Prices

Rising Crude, Oil Products Inventories Weigh On Oil Prices

January 24, 2023

Investing

U.S. lawmakers ask Kerry to urge UAE to replace oil boss as COP28 president By

U.S. lawmakers ask Kerry to urge UAE to replace oil boss as COP28 president By

January 27, 2023
ESG Investing Fight Is Heating up in Kentucky and Could Cost Taxpayers

ESG Investing Fight Is Heating up in Kentucky and Could Cost Taxpayers

January 26, 2023
Chevron goes big with new $75 billion buyback, surpassing Exxon’s By Investing.com

Chevron goes big with new $75 billion buyback, surpassing Exxon’s By Investing.com

January 25, 2023
Oil falls $2/barrel on economic jitters, U.S. crude stock build By Reuters

Oil falls $2/barrel on economic jitters, U.S. crude stock build By Reuters

January 24, 2023

Market

Chevron profits slip as oil and gas prices fall

Chevron profits slip as oil and gas prices fall

January 27, 2023
Big Oil’s cash bonanza | Financial Times

Big Oil’s cash bonanza | Financial Times

January 26, 2023
NYC pension schemes test support for climate action at bank meetings

NYC pension schemes test support for climate action at bank meetings

January 25, 2023
Oilfield services groups cheer ‘structural upcycle’ after highly profitable year

Oilfield services groups cheer ‘structural upcycle’ after highly profitable year

January 24, 2023

OPEC

OPEC to Stay the Course on Oil Production Agreement; China’s Reopening Bullish for

OPEC to Stay the Course on Oil Production Agreement; China’s Reopening Bullish for

January 27, 2023
Biden vowed to punish Saudis over OPEC cut. That’s no longer the plan

Biden vowed to punish Saudis over OPEC cut. That’s no longer the plan

January 26, 2023
Oil Steadies as Traders Look to China, OPEC for Fresh Triggers

Oil Steadies as Traders Look to China, OPEC for Fresh Triggers

January 25, 2023
FG tasks 2023 OPEC’s President on attracting investments in oil

FG tasks 2023 OPEC’s President on attracting investments in oil

January 24, 2023
  • Submit news
  • Contact
  • DMCA
  • Cookie Privacy
  • Privacy Policy
  • Terms of Use

© 2022 OilMarket.News

No Result
View All Result
  • Home
  • Market
  • Price
  • crude
  • Companies
  • politics
  • Gas
  • investing
  • Stock
  • OPEC
  • brend
  • ships

© 2022 OilMarket.News

wpDiscuz
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.