ADNOC exploring a possible issue of bonds to benefit from low-interest rates

Abu Dhabi National Oil Co (ADNOC) is exploring a possible issue of bonds to benefit from low-interest rates, his chief financial officer said on Wednesday.

State-owned ADNOC granted Fitch’s AA credit rating in February, will be motivated by the first international debt issue of Saudi Aramco in April, when it sold $12 billion in bonds after obtaining more than $100 billion in orders.

“We’re going to look. These are extremely low-interest rates, so if you don’t issue, you’re making a big appeal for judgment, “CFO Mark Cutis said when asked at a Bloomberg event whether ADNOC will look at a bond issue in the first quarter of 2020.

Asked if the future bond issue would be bigger than that of Aramco, Cutis said: “We are still in negotiation.”

The oil and gas giant of the United Arab Emirates, long known as one of the most traditional energy companies in the Gulf region, has embarked on a major transformation over the past few years in an attempt to respond more rapidly to market changes.

The UAE, the Organization of Petroleum Exporting Countries (OPEC)’s third-largest oil producer behind Saudi Arabia and Iraq, produces about 3 million barrels of oil a day, most of which is provided by ADNOC.

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Shreyas Tanna

Shreyas Tanna

The winner of the title Mr. Pune 2009, Mr. Shreyas Tanna is currently the young, dashing, and dynamic CEO of a market research company called ResearchNReports in Pune. Fondly known as RNR, the company specializes in market research as well as industry analysis, and is closely associated with its parent company Absolute Market Insights (AMI). Mr. Shreyas Tanna began his corporate journey as the Head of Corporate sales & PR at RED Entertainment while pursuing his degree for MMS (Marketing) from the MGM College of Management, Mumbai. After accomplishing the tedious task of balancing his work and education, he further polished his skills in Corporate Sales, Public Relations, Channel Development, Global Client Engagement, Strategic Consulting, and Brand Development by working with HDFC Life and Researchmoz Global Pvt. Ltd. His dedication towards his work has even won him accolades such as the National Level Performer 2013 – HDFC Life and Mr. Research Moz 2015. A disciplined individual with a loving heart, he is often seen taking crisp walks with an engrossed look and a gentle smile within the premises of his company to interact with the various departments. And he will be usually followed by an adorable trail of his beloved trio of Shih Tzu babies proudly known as Gucci, Drake, and Paris. The most enticing thing that you will notice about this content and proud pet parent is his infectious positivity and the firm belief in his eyes, a reflection of his favorite quote, “LIFE IS BEAUTIFUL!”