The Oil & Gas sector performance in Kuwait Financial Centre Q1, 2011
7:49 PM
Unknown
The Oil & Gas sector performance was mixed during Q1 2011. Oil prices rose more than 16% mainly driven by the turmoil in the Middle East and the devastating earthquake, tsunami and nuclear disaster in Japan. In line with stronger oil prices, international energy equities performed well during the quarter. On the other hand, regional energy equities, declined during the period as a result of the regional turmoil.
Markaz Energy Fund (MEF), was able to capitalize on the gains in the international markets through increasing its exposure to internationally listed energy equities to 12.6% of assets by the end of Q1 2011. MEF's investments in international energy equities significantly supported the funds positive performance gaining 11.8% during Q1.
MEF's investment in Kuwait First Transportation Company (KFTC) continues to perform as scheduled.
KFTC has recently completed a strategy development exercise conducted by a reputable international consultant to identify expansion opportunities.
The recommendations are currently being considered for implementation, including exploring acquisition opportunities.
Overall MEF gained approximately 1% in Q1, and continues to examine potential investment opportunities that that have considera
Posted in 
Subscribe to:
Post Comments (Atom)
No Response to "The Oil & Gas sector performance in Kuwait Financial Centre Q1, 2011"
Post a Comment