DP World looks to capital markets to refinance USD 2.6 bn in due maturities this year

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DP World is reassuring bond investors as it lines up refinancing for USD 2.6 bn in debt maturing this year. The company has been meeting creditors to keep market options open despite the war, Bloomberg reports. It likely has the cash to repay outright but would rather tap the market. Fitch expects DP World to settle maturities through a mix of capital markets and liquidity.

ConocoPhillips could become the first major oil company to sign a definitive exploration agreement in post-Assad Syria. The Syrian Petroleum Corporation is set to ink the onshore exploration and development agreement in the coming days, Energy Minister Mohammad Al Bashir tells the Arab press. The agreement would formalize an MoU the US company signed last November.

This is distinct from the MoU ConocoPhillips signed last month to explore offshore exploration in Block 3, alongside TotalEnergy and QatarEnergy. Other IOCs reviewing possible offshore exploration include Chevron and the Qatar-based Power International Holding.

Sign of the times

LIV Golf’s CEO can’t confirm PIF funding will continue through the rest of the 2026 season. Scott O’Neil told CNBC the league is proceeding on the basis of the PIF’s public commitment to do so, Reuters reports. This comes days after reports emerged that the Saudi sovereign wealth fund may not cover the rest of the season.

Seeking new investors: With the PIF pulling the plug last month on LIV after the 2026 season ends and former LIV chairman Yasir Al Rumayyan exiting, LIV is reportedly looking for USD 250-350 mn from new backers to support a planned LIV 2.0 strategy.

Final events in question: O’Neil also declined to confirm LIV’s last four tournaments of the season — in England, New Jersey, Indianapolis, and Michigan — will go ahead. LIV Golf Louisiana was recently postponed, leaving a six-week gap in the schedule before play resumes in the UK in late July.