Finance News

 

Brookfield Eyes TeeKay Offshore Partners

May 20, 2019

Canada-based Brookfield Business Partners has made an offer to purchase the publicly traded units of Teekay Offshore Partners (TOP), midstream services provider to the offshore oil production industry,  that it doesn't already own.The offer was for $1…

EnscoRowan Wins Arbitration Against SHI

May 17, 2019

Offshore drilling services provider EnscoRowan announced that an arbitration tribunal has awarded it $180 million in damages in its proceedings against South Korean shipbuilder Samsung Heavy Industries (SHI).Further, the company will be claiming…

DNO Completes $400mln Bond Placement

May 17, 2019

The Norwegian oil and gas operator focused on the Middle East and the North Sea, DNO ASA said it has completed the private placement of USD 400 million of new, five-year senior unsecured bonds with a coupon rate of 8.375 percent.The bond placement…

Pemex Requests $8bn Loan Amid Heavy Uncertainty

May 16, 2019

Petróleos Mexicanos’ (Pemex) US$8 billion bank loan comes amid heavy investor uncertainty over the oil company’s debt load, but lenders wanting to maintain links with Pemex and the left-wing administration overseeing the firm may have little choice but to commit to the financing…

Weatherford to File for Bankruptcy

May 13, 2019

Irish-domiciled multinational oil and natural gas service company Weatherford International has entered into an agreement with its top creditors that will allow the company to file for a 'prepackaged' Chapter 11 bankruptcy - after more than four years without making a profit…

Ørsted Green Bonds Successful

May 10, 2019

Danish renewable energy developer Ørsted has secured nominal GBP 900 million through the issuance of green senior bonds.The fund is to finance its green growth ambition towards 2025 including the investment in the offshore wind farm Hornsea 2 in the United Kingdom with a capacity of 1…

From KPMG: Visions of Cheese

May 08, 2019

Whilst we are seeing a clear uptick in activity and the UK oil and gas industry is certainly on the way up again, the industry must continue to move forward. However, under current market conditions, how can companies capitalize on change whilst remaining stable and sustainable and…

Ørsted Taps Green Bonds for Hornsea 2

May 08, 2019

Denmark's largest energy company Ørsted A/S plans to issue green senior bonds in the UK-market to finance its green growth ambition towards 2025 including the investments in 1,386MW Hornsea Two offshore wind farm.With the bond issuance, Ørsted…

Okea Eyes Listing by Mid-2019

May 07, 2019

Norwegian oil company Okea AS said on Tuesday it was planning an initial public offering by mid-2019, in a bid to raise funds to finance further expansions.The company, which is partly owned by Thailand's Bangchak Corporation and private equity firm Seacrest Capital…

Kosmos to Sell Down Mauritania-Senegal Stakes

May 06, 2019

Oil and gas company Kosmos Energy Ltd said on Monday it has started a formal process to sell down its interest in the Mauritania-Senegal basin to around 10 percent and expects bids by the end of the summer.The company said in February it had…

Equinor Q1 Beats Forecast

May 03, 2019

Norwegian oil and gas firm Equinor reported on Friday a small fall in quarterly operating profit, beating forecasts, and said its giant Johan Sverdrup oilfield in the North Sea remains on track to start production in November.Earnings before interest and tax (EBIT)…

Oxy Shareholders Criticize Anadarko Bid

May 02, 2019

Several major Occidental Petroleum Corp shareholders have voiced opposition to the oil company's $38 billion bid for rival Anadarko Petroleum Corp that now includes a pricey financing deal with billionaire Warren Buffett.Occidental and Chevron…

Shell Outperforms Rivals in Q1

May 02, 2019

Royal Dutch Shell reported on Thursday a small drop in first quarter profit to $5.4 billion, but still easily beat forecasts, helped by stronger trading and liquefied natural gas earnings.Shell's results outshone those of rivals Exxon Mobil…

Subsea 7 Raises Revenue Outlook

May 02, 2019

Subsea 7 posted first-quarter core profits below expectations on Thursday while adding that the offshore oilfield service provider's full-year revenue is no longer expected to decline.'We are now guiding for 2019 Group revenue to be broadly in line with 2018…

Teekay Gets Refinance for FPSO Fleet

May 01, 2019

The international midstream services provider to the offshore oil production industry Teekay Offshore Partners announced  that it has secured a new $100 million revolving credit facility for the Piranema Spirit, Voyageur Spirit, and Petrojarl Varg FPSO units…

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