Diamond CEO retires as firm emerges from chapter 11
Rig contractor Diamond Offshore Drilling has emerged from chapter 11 bankruptcy after completing a financial reorganisation.
Finance
Financiers are the new corporate sustainability activists, new research from Addleshaw Goddard reveals
A major new European research study reveals that the financial community is driving action on sustainability.
Fugro bosses predict ‘modest’ margin improvement in 2021
Fugro today reported a first quarter revenue drop, which it said was “fully driven” by Covid and a “strong” related decline in oil and gas activities.
Safety equipment firm Survitec completes £270m refinancing
Survitec has completed a £270 million refinancing in a “key milestone” for the survival and safety equipment and training business.
‘Zombie firms’ could take bite out recovery
The age old debate of who gets what is likely to become even more fervent after the global pandemic.
E&P firms that ‘get it right’ can still access equity capital markets
Investors are being increasingly influenced by environmental, social and governance (ESG) themes, but the “hunt for value” still takes centre stage.
Exemptions promise on new policy shows government taking concerns on board
Subsea industry chief Neil Gordon says exemptions to the UK Government’s new policy on fossil fuels projects abroad shows the sector's concerns had been heeded.
Updated: Activist investor says relationship with Hurricane Energy has ‘deteriorated dramatically’
One of Hurricane Energy’s biggest shareholders has threatened to take “appropriate action” to maximise the company’s potential after complaining of a breakdown in their relationship.
Court approval clears path for Valaris’ emergence from chapter 11
Rig contractor Valaris has received approval from a US bankruptcy court for its Chapter 11 plan of reorganisation.
UK wind farm investor Greencoat raising £200m through placing
Renewable infrastructure fund Greencoat UK Wind has said it would raise £198 million through a placing of new shares announced on February 12.
Over capacity to drive M&A activity
Anderson Anderson & Brown Corporate Finance (“AABcf”) is delighted to share with you our quarterly Deals+ update for Q4 2020 in conjunction with Energy Voice, highlighting selected oil and gas M&A and fundraising transactions across the UK.
Indonesian NOC Pertamina readies IPO
Indonesia’s national oil company (NOC) Pertamina is preparing to take at least one of its business units public during the second-half 2021.
Aker Solutions tendering for £6.5bn of new work, 2020 ebitda down by a third
Ebitda at Norwegian energy service firm Aker Solutions dropped by 33% to £128 million in 2020, a year of “unprecedented challenges”.
BP sinks to losses of £18bn in 2020 as Covid and crude price crash take toll
BP fell to pre-tax losses of £18 billion in 2020 as the energy giant’s balance sheet creaked under the weight of lower oil and gas prices.
Big businesses told to slash payment times to small suppliers
Big businesses have been told to pay small suppliers within 30 days as the Government strengthened the Prompt Payment Code.
Updated: Hurricanes and Appomattox subsurface issues leave Shell facing hefty charges in Q4
Shell said today it expects to record post-tax charges of £2.6 billion to £3.4bn in the fourth quarter of 2020.
Oil and gas leopards changing their spots to focus on investor returns
More oil and gas firms are “pivoting” their business models towards shareholder returns and away from high risk and reward exploration, an analyst has said.
Cairn to dish out special dividend as Senegal sale nears completion
Cairn Energy will return £188 million to shareholders following completion of the sale of its Senegalese assets to Woodside.
A bright future for the Guyana economy post-Covid
ABIS Energy is passionate about Guyana. We have been engaged with the Guyana economy for the past 4 years and foresee a bright future.
Reviewing your lending options – an essential New Year’s resolution
As we come to the end of a torrid year, business leaders in the north-east’s oil and gas industry breathed a collective sigh of relief on news that coronavirus vaccines look imminent. Oil prices rose around 8% globally following news that three Covid-19 vaccines both showed high efficacy and will be available next year.
S&P strikes deal to buy IHS Markit for $39bn
S&P Global Inc. has agreed to buy IHS Markit Ltd. for about $39 billion in stock, a deal that accelerates the wave of consolidation among the finance industry’s biggest data providers.
Wood extends principal bank debt facility
Energy service giant Wood, of Aberdeen, has extended its revolving credit facility to May 2023.
Cornish mining boost as £1million raised by firms to tap lithium reserves
Cornwall’s mining revival received a boost on Monday after the firm behind plans to tap into huge reserves of lithium in the county raised £1 million in funding.