Finance

Fitch Updates Oil Vessel Financing Criteria

Fitch Ratings has published the latest version of its criteria for rating oil vessel backed financings in Latin America. This report updates and replaces the prior criteria of the same name dated Jan.

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an

Canada Slaps Sanctions on Russian Oil Industry

Canada announced new sanctions against Russia on Friday, including additional restrictions on the export of technology used in the oil and gas industry.   Foreign

US Plans to Shut Royalty Loophole on Coal Exports

U.S. coal companies will no longer be able to settle royalties at low domestic prices when they make lucrative sales to Asia according to reforms proposed by the Interior Department on Friday.

Petrobras Cancels Fertilizer Plant Contract with Galvao, Sinopec

Brazil's state-run oil firm Petrobras said on Friday it had canceled a contract with a joint-venture group comprised of China's Sinopec and local engineering company

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

DSG Marine Asks Shipowners to Consider Fixed Premium P&I Cover

P&I Insurance Seminar for Owners and Charterers held in Mumbai DGS Marine, a global P&I management provider and exclusive manager for the British European and Overseas (BE&O) P&I Facility,

Liquefaction Terminals to Dominate LNG Capital Expenditure

Capital expenditure (Capex) on global LNG facilities is expected to total $259 billion (bn) over the period 2015-2019, with investments expected to be 88% larger

Maven Invests $6.65m in MBO of Fathom Systems

Maven Capital Partners (Maven) has led the management buy-out of subsea technology firm, Fathom Systems Limited. The $6.65million investment by Maven in the

Ukraine Allows Firms to Import Electricity Due to Power Crisis

Ukraine's government, mired in a power crisis due to a shortage of thermal coal, will allow all companies to import electricity from abroad, Prime Minister Arseniy Yatseniuk said on Friday.

GE Wins$1b Cheniere LNG Train Service Deal

Construction well underway on the first four LNG trains at Cheniere Partners’ Sabine Pass LNG export facility located in Cameron Parish, Louisiana, with first LNG

LNG Prices Hold Steady in Slow Trade

Asian spot liquefied natural gas (LNG) prices were steady on Friday as a mild winter continued to curb demand from many of the traditional LNG destinations. The

Oil's Impact: Transocean Feet Update

Transocean Ltd. (NYSE: RIG) (SIX: RIGN) has issued a monthly Fleet Update Summary which includes new contracts, changes to existing contracts, and changes in estimated

DNB Bank: Loan Book Risk is Manageable

Norway's DNB bank, one of the lenders most exposed to the energy sector, has tested its loan book against big oil price falls and expects losses to remain below their usual levels next year,

Schlumberger Wins Statoil Mariner Services Contract

Statoil has on behalf of the Mariner co-venturers awarded the contract for integrated drilling and well services on the Mariner field on the UK continental shelf

Petrobras Graft Involves at Least 28 Politicians

At least 28 Brazilian politicians, including government ministers, governors and congressional leaders, allegedly received money from a corruption scheme that diverted

Oil Price Bloodbath will Fuel Sector M&A Activity

Cash-rich majors the most likely buyers; M&A flurry expected once oil prices stabilize. Large oil companies flush with cash are expected to seize on the recent

Petronas Picks LyondellBasell Polypropylene Technology

Malaysia's state oil company Petroliam Nasional Bhd (Petronas) has chosen technology from U.S-listed LyondellBasell for a 900-tonne a year polypropylene plant in

North Dakota $5.3 billion Oil Tax Break Looms

Tumbling U.S. oil markets hit an important if obscure milestone on Thursday, closing for the first time at a price that could trigger a $5.3 billion, two-year tax

U.S. EPA to Finally Issue Coal Ash Rules

The U.S. Environmental Protection Agency is due to issue long-anticipated regulations on Friday for the disposal of coal ash, a byproduct of coal-based power production

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