Saudi Arabia plans to issue green bonds soon, an official said on Sept. 27, as the oil-producing kingdom seeks to embrace ESG concerns to expand its investor base and finance a transition to a greener economy.
Hani Al-Medaini, acting CEO of the Finance Ministry's National Debt Management Center, said the government will also be looking at financing backed by export credit agencies, in addition to conventional and Islamic bonds.
He was speaking at an investment conference in Riyadh.
The Gulf has seen a surge of interest in ESG-related initiatives and deals amid growing awareness among global investors about ESG risks.
Saudi Arabia has recently hired banks to advise it on a sustainability financing framework, and sovereign fund Public Investment Fund said it planned to announce soon its first green debt deal.
Mohammed El-Kuwaiz, the chairman of Saudi Arabia's Capital Markets Authority, speaking at the same conference, said he expected an increase in green financing instruments in the country, supported by growth in the domestic debt markets and higher participation of foreign investors.
Viceroy Petroleum LP retained EnergyNet for the sale of an Eagle Ford Shale package comprised of nonoperated working interest plus leasehold acreage in Karnes County, Texas.
Kirkwood Oil & Gas retained PetroDivest Advisors for the sale of its vertical operated interests in Colorado’s Moffat and Washington counties plus interests in the Iles Station storage tank.
Here’s a snapshot of recent energy deals including a $750 million asset sale by Occidental Petroleum plus Citizen Energy’s $153 million expansion in Oklahoma.