NBK gold sponsor of Energy Strategy Forum for third year
KUWAIT: The National Bank of Kuwait (NBK) announced its gold sponsorship of the Energy Strategy Forum for the third year in a row, which will be held on January 31 at the JW Marriott Hotel in Kuwait. NBK will participate in the Forum, which will be hosted by Kuwait Petroleum Corporation (KPC) and the Petroleum Economist and inaugurated by the Minister of Oil and the Minister of Electricity and Water, Bakheet Al-Rashidi, and the Chief Executive Officer of KPC Nizar Al-Adsani. The Forum will be attended by high-level economic executives from Kuwait and the region in addition to representatives of international oil and gas companies.
In the first panel of the Forum titled ‘Achieving Balance in the Oil Market in 2018,’ Senior Economist at NBK, Omar Al-Nakib, will discuss the outlook for the oil market in 2018 and provide insights on the key factors and trends affecting oil prices. The panel will also focus on the Saudi-Russian cooperation, the prospects for shale oil and the strategies adopted by nonOPEC oil producers, with a view to assessing their impact on the oil market.
The first panel will also discuss the crude production capacity of Gulf countries, the most significant changes expected to take place in 2018, the dollar’s impact on oil prices, and the impact of China’s decision to price oil in its currency. The second panel of the Forum, titled ‘Challenges in
Financing Energy Amidst Market Changes,’ will host the Managing Director Head of Investment Banking at NBK Capital, Rani Selwanes. The panel will discuss challenges in financing oil projects in the context of low oil prices, expected capital spending on oil projects and convenient debt ratios on the medium term as well as the impact of governance and transparency requirements on national oil companies.
The participation of NBK in the Forum is borne out of the bank’s desire to share its expertise to support the Kuwaiti oil sector and reaffirm its commitment to the longstanding strategic partnership with KPC and its subsidiaries; NBK has been KPC’s leading banking partner for over four decades.
NBK maintains its leading position as the highest ranked credit institution among banks in the Middle East, as rated by the three international credit rating agencies, Moody’s, Fitch and Standard & Poor’s. The ratings are supported by a series of strong performance metrics such as high capitalization, sound debt policies, a systematic risk management approach, as well as a highly-capable management team. NBK is also ranked among the 50 safest banks in the World for the 12th year in a row by Global Finance.