Because of the outbreak of the Corona Virus, the Governor of Qatar asked the government to postpone contracts not awarded for capital spending projects worth $ 8.2 billion.
According to ArabiaNet, Qatar said in a bond issuance document, that the outbreak of the virus may continue to have a negative impact on the Qatari economy and financial markets and may lead to a recession.
On the other hand, Qatar has recognized that the decline in oil prices will have a significant economic impact on the state's revenues and financial conditions, as the oil and gas sector contributed 83.3% of the total revenues of 2018 and 34% of the GDP in the past year.
Bond Marketing . Bond Marketing
In addition, Qatar today began marketing dollar-denominated bonds, issued in 3 segments, for 5, 10 and 30 years, in an effort to raise liquidity amid a drop in oil prices and a situation Fog on the market due to an outbreak of corona virus.
Qatar offered an initial indicative price at about 355 basis points above the US Treasury bonds for the five-year tranche, about 340 basis points over the ten-year segment, and about 4.75% for the thirty years.
The last tranche of Formosa bonds sold in Taiwan is from foreign borrowers and is denominated in currencies other than the Taiwan dollar.
New gas facilities postponed
The Qatar News Agency quoted on Twitter the Minister of State for Energy and Managing Director and CEO of Qatar Petroleum as saying that Qatar Petroleum will postpone the start of production from its new gas facilities until a year 2025, due to a delay in the bidding process.
