Archive: Natural Gas Companies and Finance
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GE, Morgan Stanley supply debt to Texas-focused producer
GE Energy Financial Services has agreed to lead a funding programme to supply Dallas-based developer SND Consolidated Energy with a…
Nine lend on drilling rig acquisition deal
UK-based Standard Chartered Bank acted as coordinating bank on a $1.85 billion bridge financing package supplied to SapuraKencana, a Malaysia-based…
China assumes low profile in ConocoPhillips results
ConocoPhillips said output growth in China has been aided by additional wells coming online at the Panyu offshore project in the South China Sea in Q1 results this week, while characterising operations at the once-troubled Penglai 19-3 field as “normal”.
Novatek vague on LNG markets and tariff growth
Novatek is bullish on Yamal LNG after its Q1 2013 results, anticipating a government decision on liberalising LNG exports soon. But exactly what the company expects remains unclear.
China’s poor IPR score a mix of fact and fiction
Slow headway on intellectual property rights reform is frustrating foreign companies in China, but some of the criticism may be fuelled by misperceptions about China’s IPR regime.
PetroChina withdraws offer for Aussie explorer
PetroChina has pulled out of negotiations for a takeover of Australian unconventional explorer WestSide, explaining “the general situation in Australia has changed so much”, WestSide said on Wednesday.
Statoil farms into another Aussie frontier basin
Statoil has taken its second step into Australia’s exploration acreage, agreeing to farm into four BP-operated licences for offshore areas in the southern Great Australian Bight, the Norwegian company announced on Tuesday.
BG looks to prioritise ‘value over volume’
BG Group appears to be following the lead of other European oil and gas companies by shifting the focus of its business away from production targets towards value creation.
OMV earnings helping to fund upstream investment – CEO
Austria’s OMV has said its earnings for Q1 2013 rose year on year as the company shifts its strategic focus from downstream activities to higher-stake upstream projects in the Black Sea and beyond.
As Surkov departs, Sechin rises
With the resignation of Putin’s former chief ideologist, the Russian political landscape looks promising for Rosneft President Igor Sechin. The signs are of conflict behind closed doors, with battle lines drawn around Rosneft and Gazprom.
Dana Gas closes sukuk refinancing
Dana Gas closed a restructuring of its $1 billion sukuk (Islamic bond) debt this week, with a new five-year maturity date which gives Dana ‘a lot of breathing room’ to focus on its next challenge of collecting overdue payments for gas produced in Iraqi Kurdistan and Egypt, according to Ghassan Chehayeb, director of credit research at Exotix.
Adviser appointed for Myanmar gas-fired power project
Japanese commercial bank Mizuho has been mandated by a consortium of Korean developers to act as financial adviser on the funding of a new gas-fired power project in Myanmar.
US utility closes $450 million notes offering
Minneapolis-based electricity and gas utility Xcel Energy has closed a notes offering worth $450 million to repay existing facilities and for general corporate purposes.
Gas looms large in China Resources merger
The $22 billion merger between power and gas subsidiaries of state-owned China Resources Group will create one of the country’s largest integrated energy utilities.
Repsol on the up following LNG sale
A strong performance by Repsol’s LNG assets – most of which were sold to Shell in February – helped the Spanish oil and gas giant post a solid set of Q1 results on Thursday.