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BNA: Bahrain Finds New Major Oil Field

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The Bahrain News Agency (BNA) reported the country has discovered the largest oil field since it started producing crude oil in 1932. Currently, Bahrain, a non-OPEC producer, pumps out approximately 45,000 barrels of oil a day from its Bahrain Field. This new oil field is the offshore Khaleej al-Bahrain basin, located off the country’s western coast. The field was evaluated by DeGolyer & MacNaughton Corporation, a Dallas, Texas-based company.

Bahrain’s Oil Ministry will detail the findings at a news conference on Wednesday.

According to the Bahrain News Agency report, Bahrain Oil Minister Shaikh Mohammed bin Khalifa Al Khalifa said, “Initial analysis demonstrates the find is at substantial levels, capable of supporting the long-term extraction of tight oil and deep gas.”

OTPP Anticipates Money from Cushman Wakefield IPO

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The Ontario Teachers’ Pension Plan (OTPP) participated with TPG and PAG Asia on the buyout of DTZ a while back. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Tom Gores Wants Some Credit Game

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Traditional buyout firms are looking at building credit platforms to enhance revenue. Recently, Platinum Equity, a buyout firm run by Tom Gores that was formed in 1995, hired Michael Fabiano to help spur the formation of a credit investing division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Saudi Arabian Military Industries Forms Venture with Navantia

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State-owned Saudi Arabian Military Industries (SAMI) signed a deal with Navantia, a Spanish state-owned shipbuilding company, to form a joint venture to construct five warships – the building of five Avante 2200 Corvettes. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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