Finance

Nabors Posts Quarterly Loss as Drilling Activity Slows

Offshore driller Nabors Industries Ltd reported a quarterly loss, hurt by lower drilling activity amid a slump in global crude prices.   The company posted a net loss of $891.

Petrobras Plans to Sell $13.7bln in Assets

State-controlled Petróleo Brasileiro SA plans to sell $13.7 billion in assets for this and next year, as part of efforts to reduce debt and protect cash, the company said in a statement on Monday.

VEB Could Lend Novatek's Yamal LNG $1 Bln

Russian state development bank VEB could lend Novatek-led Yamal LNG project around $1 billion, Russian news agencies quoted VEB Chairman Vladimir Dmitriev as saying.

Valero Energy Partners Buys Two Subsidiaries

 Valero Energy Partners LP announces acquisition of certain Valero terminaling businesses for $671 million    Valero Energy Partners LP announced that the board

Russian Tycoon, Britain Clash over North Sea Deal

Russian billionaire Mikhail Fridman on Monday said he would buy a number of gas licenses in the North Sea despite British opposition, threatening legal action if

Cheap Oil Threatens Debt Squeeze for Smaller North Sea Producers

Small and mid-sized independent oil producers in the British North Sea could face a financing squeeze this year as banks cut lending linked to the value of oil reserves,

Lithuania May Not Extend Long-Term Deal with Gazprom

Lithuania may not extend its long-term natural gas import deal with Russia's Gazprom after the current one expires at the end of 2015, as it has gained access to global LNG markets,

US Crude Positive After Smaller Cushing Build

U.S. crude futures turned positive on Monday after Genscape reported a smaller-than-expected build in the Cushing, Oklahoma delivery point for oil, market sources said.

Dan-Bunkering Appoints Bunker Purchaser

Dan-Bunkering (Middle East) DMCC has announced that Anders Boennelykke has been appointed bunker purchaser with immediate effect. “We are seeing a positive

Russia's Novatek May Ignore Forex Losses for Dividends

The management of Russia's No. 2 gas producer Novatek will propose calculating dividends without taking into consideration losses from a weaker rouble, Novatek's

Poland Refuses to Increase Payments for Building LNG Terminal

Poland will not agree to meet the expectations by the Italian firm Saipem to increase payments for the construction of its liquefied natural gas (LNG) terminal in the Baltic city of Swinoujscie,

MET Holding Gets Syndicated Market Loan

Swiss-based energy sales and trading group MET Holding AG signed a 400 million euro syndicated market loan with five banks late last month, ING Bank , one of the

Royal Caribbean to Sell Splendour of the Seas

Royal Caribbean Cruises Ltd. announced that it has entered into an agreement to sell its cruise ship Splendour of the Seas to TUI Cruises in the second quarter of 2016.

Russia's Novatek: No Delays on Yamal LNG Project

Yamal LNG, a project to produce 16.5 million tonnes of liquefied natural gas per year, is proceeding without delays, Mark Gyetvay, chief financial officer of Russia's No.

Ukraine: Russia Violating Winter Gas Terms

Ukraine's state energy firm Naftogaz said Russia's Gazprom is violating the terms of an EU-backed winter gas supply agreement, ahead of talks on Monday in Brussels on the issue.

Bets on Oil Rally Highest Since July

ICE Brent net longs up 11,371 contracts to 182,783; highest net length in ICE Brent crude since July 2014. Hedge funds and large speculators increased their

Iraq Gas from Iran Possible in May

Iran could begin natural gas exports to Iraq in May if security conditions improve, Iranian oil ministry website Shana quoted a senior official as saying on Monday.

Petronas FID on Canadian LNG Due by June

Malaysian energy firm Petronas expects to make a final investment decision (FID) on an $11 billion liquefied natural gas (LNG) export terminal in British Columbia by June,

Maersk Drilling Wins Eni Contract

A.P. Moller-Maersk's Maersk Drilling has won a 3.5-year contract from Italy's Eni for its new-build drillship Maersk Voyager, it said on Monday. "The total estimated

CNOOC Drilling off Myanmar: Report

China's flagship deepsea oil rig Haiyang Shiyou No. 981 is drilling offshore Myanmar in the Andaman Sea, tackling the deepest exploration well it has undertaken so far,

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