Finance News

 

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…

Norway Should Invest in Kongsberg Share Issue -Government

Sep 28, 2018

Norway should invest about 2.5 billion Norwegian crowns ($306.26 million) in Kongsberg Gruppen's planned share issue, to help pay for the firm's acquisition of Rolls-Royce's Commercial Marine unit, the government proposed on Friday.If approved by parliament…

Staying Competitive in the Offshore Industry – The Bid Process

Sep 27, 2018

Lee Clarke at Dynama explains how to weather challenges in the offshore industry by using effective workforce optimization to support a successful bid management process.Since the middle of 2014 the price of a barrel of crude oil dropped from about $115 to less than $30…

Israeli, Egyptian Partners Buy into Pipeline to Allow Gas Deal

Sep 27, 2018

Israeli and Egyptian partners have agreed to purchase 39 percent of the shares in the EMG pipeline for $518 million, a deal that will enable natural gas exports from Israel to Egypt to begin as early as the start of 2019, the companies said on Thursday…

Petrobras to Pay $853 Mln US Fine in Car Wash Probe

Sep 27, 2018

Petróleo Brasileiro SA will pay an $853.2 million fine to settle U.S. criminal charges the Brazilian state-run oil company bribed politicians and then sought to conceal the payments, the Justice Department said on Thursday.The settlement with U…

Hibiscus Petroleum to Double Production

Sep 27, 2018

Malaysian oil and gas exploration and production company Hibiscus Petroleum is aiming to double its oil output in the United Kingdom and Malaysia to 20,000 barrels per day (bpd) by 2021, a senior company executive said on Thursday.It needs an…

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