Sunday, March 29, 2020

Commonwealth Bank Of Australia News

Oil Falls on U.S. Factory Data

© bobo1980 / Adobe Stock

Oil prices fell on Tuesday, a day after data showing a decline in U.S. factory orders dragged both benchmarks down from 2019 highs.Despite the slide, investors expect U.S. sanctions on Venezuela and production cuts led by OPEC to head off a glut this year, buoying prices.U.S. crude futures were down 50 cents, or 0.9 percent, at $54.06 a barrel by 1400 GMT.

Verus Petroleum Mulls 12-Fold Production Growth

Alan Curran. Photo: Verus Petroleum

Aberdeen, UK-based Verus Petroleum has secured a 12-fold increase in its production – from 1,500 to 18,000 barrels per day in less than a year – with the closing of three recent acquisitions on the UK Continental Shelf.A press release from the petroleum exploration and production services provider said that it  has recently completed three significant acquisitions…

Uniper Hires Goldman to Sell Stake in Italy LNG Terminal

Germany's Uniper has hired Goldman Sachs to sell its stake in a liquefied natural gas (LNG) terminal in Italy, a deal that could value the whole business at 1 billion euros ($1.1 billion), three people familiar with the deal told Reuters. Books have been opened for due diligence on OLT Offshore LNG Toscana's business and a deal could materialise in the first half of 2017…

Ithaca Energy Completes RBL Redetermination

Stella North Drill Centre Manifold Installation Operations Photo Ithaca Energy

Ithaca Energy Inc. announced having successfully completed its planned semi-annual reserves based lending (“RBL”) facilities review and continues to maintain in excess of $100 million of funding headroom ahead of planned first hydrocarbons from the Greater Stella Area in the third quarter of 2016. The Company commenced…

Bidders Emerge for Thyssengas

Thyssengas enterprise value seen at 500-550 mln euros. Macquarie-owned German gas grid Thyssengas is attracting interest from several infrastructure funds and financial investors, two people familiar with the matter said, adding bidders had until after Easter to submit indicative offers. "The level of interest is huge, there's a run on regulated energy infrastructure…

Investors Line Up for OMV's Gas Grid Gas Connect Austria

Gas Connect Austria, the pipeline unit of Austrian energy group OMV, has drawn interest from several parties ahead of an auction that could value the asset at up to 750 million euros ($845 million), three people familiar with the deal said. The sales process, which the sources said was organised by Citi, is expected to…

Beach Acquires $ 530 Mln Financing Facility

Extent of Operations Courtesy Beach Energy

Beach Energy Limited has entered into a $530 million senior secured syndicated corporate debt facility to replace existing lending arrangements. The new facility will initially be drawn to $170 million to refinance current borrowings and letters of credit, with remaining headroom available for capital expenditure programs, working capital requirements and potential growth opportunities.

Drillsearch Secures $100 mln Loan Facility

Jim McKerlie, Chairman, Drillsearch

Drillsearch Energy Limited  is pleased to announce that it has entered into a binding terms sheet for a new three-year $100 million1 secured bank loan facility. The new facility will be a multi-currency, Reserve-Based Lending facility and will replace Drillsearch’s existing undrawn working capital facility which was due to mature in March 2016.

Ithaca Energy: Extended Bank Debt Facilities


Ithaca Energy Inc. announces that it has executed extended and simplified bank debt financing facilities totaling $650 million, providing the Company with significant funding headroom ahead of first hydrocarbons from the Greater Stella Area in the second quarter of 2016. Both RBL facilities are based on conventional oil and gas industry borrowing base financing terms…

Dorian LPG Lands Debt Financing for Newbuilding Program

Photo of corvettte dock stage  by Dorian LPG

Dorian LPG Ltd. a leading owner and operator of modern Very Large Gas Carriers ("VLGCs"), today announced that is has received commitments for up to $761 million of debt financing for its VLGC newbuilding program. ABN AMRO Capital (USA), LLC ("ABN AMRO") is acting as Global Coordinator, and Citibank, NA, London Branch ("Citibank") is acting as Export Credit Agency Coordinator.

E.ON, VNG Sell Local Gas Grid to CBA

German utility E.ON and gas firm VNG AG have sold their jointly owned regional gas grid EVG Thueringen to First State Investments, the asset management arm of Commonwealth Bank of Australia (CBA) , E.ON said. Sources had told Reuters in August that First State was among final bidders for EVG, which operates a 1,200-km gas grid in the eastern German states of Thuringia and Saxony…

Ukraine Crisis Pushes up Gold, Oil, Grains

Gold, crude oil and grains surged on Monday while industrial metals slid as investors reacted to escalating tensions between Moscow and Kiev after the Russian military tightened its grip on Ukraine's Crimea region. Concern about supplies pushed up crude oil prices by more than $2 a barrel and wheat and corn by 4-6 percent. Safe-haven buying sent gold prices to four-month highs.