Finance News

 

Nord Stream 2 Gas Pipeline is 70% Financed so Far

Oct 08, 2018

Seventy percent of funds needed to finance the Nord Stream 2 underwater gas pipeline from Russia to Germany have been raised, TASS news agency quoted the head of Russian gas giant Gazprom, Alexei Miller, as saying on Sunday.Nord Stream 2, which…

Orsted Expands US Business with $510 Mln Acquisition

Oct 08, 2018

Orsted, the world's largest offshore wind developer, said on Monday it would buy U.S.-based Deepwater Wind LLC for $510 million as part of its strategy to expand in a major growth market.The still small U.S. offshore wind sector is seen as one…

Baker Hughes Acquires 5% of ADNOC Drilling for $550 Mln

Oct 08, 2018

Baker Hughes, the world's second-largest oil services company, will take a 5 percent stake in Abu Dhabi National Oil Company's (ADNOC) drilling unit for $550 million under a tie-up announced on Monday.Baker Hughes (BHGE) becomes the first foreign…

Equinor's Martin Linge Field Costs Rise Again, Start-up Delayed

Oct 08, 2018

Norway has again revised up the estimated cost of developing the Martin Linge oil and gas field, which state-controlled Equinor bought from France's Total last year, with the start-up delayed until 2020, according to the fiscal budget.The North…

Ensco to Buy Rowan in $2.38 Bln Deal

Oct 08, 2018

Offshore driller Ensco Plc said on Monday it plans to buy smaller rival Rowan Cos Plc in an all-stock deal valued at $2.38 billion, as it looks to expand its fleet and benefit from a partnership with Saudi Aramco.This is Ensco's second deal…

Beach Energy Sells Stake In Otway Assets

Oct 08, 2018

Australian Oil and gas explorer Beach Energy said it will sell a 40 percent stake in its Victorian Otway gas assets for USD 243 million, and trimmed its earnings and production guidance.Through their wholly-owned subsidiaries Lattice Energy Limited and OGOG (Otway) Pty…

Petrobras Repays 2 Bln Real Loan, Opens Fresh Credit Line

Oct 05, 2018

Brazil's state-controlled oil company Petroleo Brasileiro said on Friday it prepaid a 2 billion real ($516.13 million) loan due in 2020 from Banco do Brasil, and opened a new credit line for the same amount with the same bank due in 2025.The…

Vattenfall Opts Great Yarmouth Base for Offshore Wind Farms

Oct 05, 2018

The Swedish energy group Vattenfall and the infrastructure specialists Peel Ports have agreed to reserve space at Great Yarmouth harbour to site an operations base for two major offshore wind farms.Economic leaders described the move as a big…

IEA boss urges oil producers to ease supply concerns

Oct 04, 2018

Major oil producers must take 'the right steps' to ease supply concerns that have lifted crude prices to a four year-high, the head of the International Energy Agency told Reuters on Thursday.'It is now high time for all the players, especially those key producers and oil exporters…

Seaspan to Invest $200 Mln into Offshore Vessel Owner Swiber

Oct 04, 2018

Singapore-based offshore contractor Swiber has signed a $200 million deal with box ship player Seaspan Corporation, just days after it announced the expiry of a term sheet for a share swop arrangement with Australian power generation firm, Interlink Power & Energy Holdings…

ConocoPhillips Sells Greater Sunrise Fields To Timor-Leste

Oct 02, 2018

U.S. oil and gas producer ConocoPhillips said that it has agreed to sell its 30 percent interest in the Greater Sunrise Fields to the government of Timor-Leste for USD350 million.The total sales price of the transaction, which is conditioned…

Seacor Marine, DNB Bank Pact for Refinance

Oct 02, 2018

Seacor Marine Holdings has entered into a USD 130 million loan facility with a syndicate of lenders led by DNB Bank ASA.The provider of marine and support transportation services to offshore oil and natural gas and wind farm facilities worldwide…

Mexico Must Boost Oil Exploration to Halt Output Fall -Pemex

Oct 01, 2018

Mexico will need to double to about $4 billion its annual oil exploration investment to reverse a 14-year decline in output, a move that will require more funding by Pemex and private producers, a top official with the state-run firm said Friday…

Sakhalin-1 Consortium to Pay $230 mln to Rosneft

Sep 28, 2018

Russia's Sakhalin-1 consortium, led by ExxonMobil, has agreeed to pay $230 million to Russian energy giant Rosneft as part of an out-of-court settlement, the managing director of consortium partner ONGC Videsh told Reuters on Friday.The deal…

Petrogal to Invest Up to $1 bln per Year in Brazil -CEO

Sep 28, 2018

Petrogal, the Brazilian unit of Portugal's Galp, plans to spend $800 million to $1 billion annually in the coming years in Brazil to develop its current oil and gas assets and boost its stake offshore, its chief executive officer said on Thursday…

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