Financially crippled Asia-focused upstream player KrisEnergy has finally admitted defeat and filed a winding-up petition to the Grand Court of the Cayman Islands. In response, state-backed Keppel Corporation, the largest shareholder in the Singapore-listed company, appears intent on seizing KrisEnergy’s remaining assets in Asia.
An Aberdeen energy recruitment firm has announced it has been forced into administration after it was unable to recover fees due from a major client.
The head of an Aberdeen-based energy sector procurement services firm that went bust last month has started trading again. Warren Anderson was the controlling shareholder in Gas and Oil Technology Services (GOT Services) when administrators were brought in to wind down the business in July, putting 19 employees out of work with immediate effect. But last week it emerged that Mr Anderson had set up GOT Procurement Services at the same registered address less than a fortnight after the earlier venture hit the buffers.
Oil producer Afren said its board has decided to put the company into administration after failing to secure support for a refinancing and restructuring plan. Afren, whose shares have been suspended since July 15, said talks with bondholders, banks and its partners were scuppered after the London-headquartered company cut its production forecast for the year.