Saudi Aramco Props Up Slumping Middle East Energy Debt Market
- Aramco borrowings ballooned on maiden bonds, refinery finance
- Lower oil prices could spur borrowing in 2020: MENA Advisors
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Gulf Arab energy companies took on marginally more total debt in 2019 compared with the previous year, but the increase was skewed by a surge in borrowing by Saudi Aramco and its refining joint venture.
Excluding new Saudi loans and bonds of $15.6 billion, energy-company debt in the oil-rich region tumbled by two-thirds, according to data compiled by Bloomberg.