Floating Solar: DNV Advises on Indonesian Floating Solar Photovoltaic Project
Floating solar photovoltaic (PV), initially considered a niche technology, is now the fastest-growing solar PV category, alongside ground-mounted utility-scale solar and rooftop PV. As of August 2020…
DP World buys Topaz Energy for $1 bln
Port operator DP World Plc will buy Topaz Energy and Marine Limited for $1 billion from Standard Chartered and Renaissance Services, DP World said on Monday.Topaz is a provider of marine logistics to the global energy industry.
Ophir Agrees to be Bought by Medco
London-listed Ophir Energy Plc said on Wednesday it agreed to be bought by Indonesian oil and gas group Medco for a sweetened cash bid of 408.4 million pounds ($539 million) after previously agreeing to a lower offer.Under the terms…
US Shale Producers Curb 2019 Spending
U.S. shale producers are slamming the brakes on next year's drilling with crude prices off 40 percent and mounting fears of oversupply, paring budgets that in some cases were set only weeks earlier.The…
Bahrain's Oil Company Targets $1 Bln Through Dual-tranche Bond
Bahrain's state-owned oil company Nogaholding plans to raise $1 billion through a dual-tranche U.S.
Oil Falls as Refined Products' Stocks Rise
Oil prices fell on Friday as a rise in stocks of refined petroleum products offset a sharp decline in U.S. crude inventories to the lowest level since 2015.Brent crude futures were down 34 cents at $76.16 a barrel by 1346 GMT. U.S.
Saudi Aramco, Petronas tap Banks for Jumbo Financing
Saudi Aramco and Malaysia's Petronas have approached banks to replace a short-term $8 billion loan raised earlier this year for a joint venture with long-term financing of approximately the same size…
Africa's Richest Man Arranges $4.5 Bln of Financing for Oil Refinery
Africa's richest man, Aliko Dangote, has arranged more than $4.5 billion in debt financing for his Nigerian oil refinery project and aims to start production in early 2020, he told Reuters.Dangote…
Oil Falls After Trump Criticizes OPEC
Russia committed to cuts until end of year as 2018 demand looks strong (Goldman Sachs). Oil prices fell on Friday after U.S. President Donald Trump criticised OPEC and said oil prices were artificially high…
Petrobras Seals $1 bln Financing Deal
Brazilian state-controlled oil company Petroleo Brasileiro said on Friday it had secured $1 billion in financing from a banking syndicate headed by Standard Chartered PLC, to which it repaid $500 million of debt ahead of schedule.
Vitol Returns for $8 Bln Loan Refinancing
Geneva-headquartered energy and commodities trader Vitol has signed an US$8bn loan refinancing of credit facilities agreed in October 2016, the company announced on Wednesday. The revolving credit facility…
Oman Oil Closes $2 Billion Loan Financing
Oman Oil Co, the Omani state-owned petroleum firm, has completed a $2 billion loan financing, a source close to the matter said. The company’s funding efforts are part of a wider push by the government…
Oil market to OPEC: Show me the data
OPEC's extended oil supply deal faces a litmus test in the next couple of months while summer demand kicks in, as wary oil traders and investors will need evidence, rather than reassurance, that rebalancing is underway.
Bahri Signs $350 mln Islamic Finance Deal for Oil Tankers
National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, said on Wednesday it had signed a $350 million Islamic 10-year financing deal to pay for the building of five oil tankers.
LPC-Vitol Signs $8bn Loan Refinancing
Geneva-headquartered energy trader Vitol has signed an US$8bn loan refinancing of credit facilities agreed in October 2015, the company announced on Wednesday. The transaction includes a 12-month…
Volatility Ahead for U.S. Crude, Investor Bets Split
Market open interest in WTI climbs to highest since Sept 2013. U.S. crude oil is set for a volatile path ahead as both bullish and bearish wagers soar to record levels, with even large Wall Street banks at odds over future trends.
Oil Edges Up, but Glut Weighs
Brent fell to $41.51, lowest since April 18, on Tuesday; API says U.S. crude inventories fell; EIA report due. Oil edged higher towards $42 a barrel on Wednesday after hitting its lowest since April the previous day…
India Essar Eyes Sale of Gujarat Refinery
Essar Group is exploring the sale of its 405,000 barrel-per-day oil refinery in the western state of Gujarat, as the Indian conglomerate seeks funds to reduce its debt, two sources familiar with the matter said.
The Latest Oil Bet: From Too Much to Too Little
Oil investors are finally buying into the notion that the biggest risk to the price now is likely to be supply falling short of demand, rather than from any stubborn overhang of unwanted crude, the options market shows.
Oil Rises after Brexit Shock; Norway Strike Threatens Output
Falling crude output in Venezuela; U.S. crude stocks down by 3.9 mln barrels. Oil rose on Wednesday as traders poured money back into markets hit by the initial shock of Britain's vote to leave…
