Blackrock News

Exxon Mobil Corp chose BlackRock as the potential buyer for its majority stake in Italy's main liquefied natural gas (LNG) import terminal, the U.S. oil producer said in a statement.The stake sale drew interest from infrastructure funds and international groups as Italy is expected to increase its LNG imports to partly replace the gas it used to get via pipeline from Russia.In March, Exxon said it was considering selling its 70.68% interest in the offshore Adriatic LNG Terminal…

Four international groups are competing to buy Exxon Mobil Corp's majority stake in a liquefied natural gas (LNG) terminal offshore Italy, two sources familiar with the matter said. The deal could value the entire LNG terminal at around 800 million euros ($881 million), the sources said. Exxon said in March it was considering selling its majority stake in Adriatic LNG, Italy's main regasification terminal, as part of a wider strategy to divest non-core assets. The U.S. group is being advised by Rothschild & Co. on the process.

The Port of Corpus Christi Authority has named Marcelo “Yudi” Takizawa as its Director of Trade Development. Takizawa has more than 20 years of commercial business and market development leadership experience in the energy and marine transportation space. He comes to the Port of Corpus Christi from Vopak.In his new role, Takizawa will oversee all business and trade development initiatives for the Port of Corpus Christi, including market development, management of customer relationships…

Liquefied natural gas (LNG) ships are set to receive an earnings boost from restocking demand after colder conditions drove a scramble for supplies and record high freight rates, a top LNG tanker player said.A cold snap in Europe and Asia in January and in North America last month increased heating demand, prompting prices to jump in several markets, while inventories fell."You need to replenish stocks because of the cold northern hemisphere winter in both Asia and in Europe.

Satellite data company Spire Global Inc said on Monday it has agreed to go public through a merger with blank-check acquisition firm NavSight Holdings Inc at a $1.6 billion valuation.It is the latest example of a special purpose acquisition company (SPAC) merging with a company in the space industry, following deals for the likes of space tourism company Virgin Galactic and rocket startup Astra.Spire said it expects the deal will provide it with up to $475 million in proceeds.

Offshore helicopter services provider Bristow Group filed for chapter 11 bankruptcy protection after reaching a deal with senior bondholders on a plan to slash its debt load.The struggling Houston-based helicopter operator for offshore oil and gas industry looks to cut debt after reaching deal with senior bondholders, as it attempts to restructure its crippling debt load.The Chapter 11 filing, dated 11 May, covers only six US- and two Cayman Islands-registered businesses, with overseas operations – including Bristow Helicopters in the UK – unaffected.The Texas-headquartered company said in a release that all its subsidiaries will continue to operate as normal while the financial restructuring is carried out.Bristow Group President and Chief Executive Officer, L.

Abu Dhabi State-Owned Oil Company Adnoc has sealed a $4 billion midstream pipeline infrastructure deal with BlackRock, the world's largest asset manager, and private equity firm KKR & Co.The Middle East national oil company said that the transaction includes the creation of Adnoc Oil Pipelines, which will lease Adnoc's interest in 18 pipelines and give rights to transport crude and condensates from Adnoc's onshore and offshore concessions over 23 years.BlackRock and KKR will form a consortium to hold a 40% stake in Adnoc Oil Pipelines, while Adnoc Infrastructure, a fully-owned Adnoc subsidiary, will retain the remaining 60%. Adnoc estimated its proceeds at about $4 billion. Sovereignty over the pipelines and management of pipeline operations remain with Adnoc.

Shares of Daewoo Shipbuilding & Marine Engineering Co Ltd rise as much as 3.8 pct.The South Korean shipbuilder says it has received a new order worth 444 bln won ($397.28 mln) from the country's procurement agency, Defence Acquisition Program Administration (DAPA), to build one ship.Separately, BlackRock Inc increased its stake in Daewoo Shipbuilding to 5.57 pct from 4.42 pct, according to co's regulatory filing on Thursday. The stake purchase by the U.S. investment firm underlines its positive outlook for the shipbuilding industry, says Um Kyung-a, an analyst with Shinyoung Securities.Reporting by Heekyong Yang

Offshore oil services firm Subsea 7 has made an unsolicited offer worth about $2 billion for U.S. rival McDermott, potentially breaking up the U.S. company's agreed deal with onshore engineering firm Chicago Bridge & Iron (CB&I).The deal could make Oslo-listed Subsea 7 the market leader in supplying and installing subsea equipment for oil and gas firms with a combined market share of 24 percent, followed by TechnipFMC with 20 percent and Saipem with 15 percent, an Oslo-based consultancy…

HSH Nordbank will provide the investor BlackRock with a long-term loan amounting to about € 31 million to refinance the Brotorp wind farm in southern Sweden. The farm with 14 Vestas 126 type wind turbines and a total capacity of 46.2 megawatts (MW) has been in operation since December 2015. With US$ 6.29 trillion in assets under management (as of 31/12/2017), BlackRock is the world's largest independent asset manager. HSH Nordbank has previously already completed numerous transactions in the photovoltaics business with this investor. “Implementation of this Brotorp project gave us the opportunity to support our long-standing client and once again to demonstrate our capability in Sweden, which is an important market to us.

DNV GL has secured a role as technical advisor to a group of institutional lenders with their investment of the 659MW Walney Extension. Located off the coast of North West England at Barrow-in-Furness, the Walney Extension offshore wind farm will bring a mix of wind turbine types, featuring 40 MHI Vestas V164 and 47 Siemens SWT-7.0-154 turbines. DNV GL conducted a detailed technical due diligence study and full independent energy production assessment, allowing the group of lenders to develop an understanding of the technical characteristics and risk profile. The group of lenders includes Aviva Investors, BlackRock Investment Management (UK) Limited, Legal & General Investment Management Real Assets and Macquarie Infrastructure Debt Investment Solution.

South Korean shipper Hyundai Merchant Marine Co Ltd (HMM) is in talks with BlackRock Inc about a potential investment but details have yet to be discussed, a HMM spokesman said on Monday.   BlackRock is in talks with HMM to invest up to 1 trillion won ($880 million) in the nation's largest shipper, the Korea Economic Daily reported on Monday, citing unidentified investment banking and shipping industry sources.   A BlackRock spokeswoman could not be immediately reached for comment.   HMM shares were up 1.2 percent in morning trade, compared to a 0.2 percent fall for the wider market.   Reporting by Joyce Lee

French container shipping giant CMA CGM is to buy Singapore's Neptune Orient Lines for $2.4 billion, making its biggest-ever acquisition to help it to ride out a severe market downturn. The takeover, which the companies expect to proceed in mid-2016 following anti-trust approvals, would cement family-owned CMA CGM's spot as the world's third-largest container shipping line by handing it market leadership on busy trans-Pacific routes. The acquisition of state-controlled Neptune crowns a recovery for CMA CGM and its founding Saade family…

Business is so tough for oilfield giants Schlumberger NV and Halliburton Co that they have come up with a new sales pitch for crude producers halting work in the worst downturn in years. The moves by the world's No. 1 and No. 2 oil services companies show how they are scrambling to book sales of new technologies to customers short of cash after a 60 percent slide in crude to $45 a barrel. In some cases, they are willing to take on the role of traditional lenders, like banks, which have grown reluctant to lend since the price drop that began last summer, or act like producers by taking what are essentially stakes in wells. When its second-quarter net profit tumbled by more than half a billion dollars to just $54 million…

Gulf of Mexico deepwater oil explorer Venari Resources LLC said on Wednesday it had raised $1.3 billion from original backers Warburg Pincus LLC, Kelso & Co, the Jordan Company and Temasek Holdings, as well as new investors. GIC, Singapore's sovereign wealth fund, and BlackRock Inc's private equity arm participated in the new round of equity commitments, joining private equity firms Warburg Pincus, Kelso and Jordan, as well as Singapore state-owned investment firm Temasek. The four original investors formed Venari in 2012 with $1.1 billion in equity commitments. The new funds will be used to help develop assets Venari has discovered since 2012, as well as bolster the company's exploration program, Venari Chief Executive Brian Reinsborough said in an interview.

U.S. retail and institutional investors pulled cash from broad commodity exchange-traded funds for a fifth straight quarter even as coffee, natural gas and hogs prices had their best run in years, data from Thomson Reuters Lipper showed on Wednesday. Lipper, which tracks nearly 270 U.S. exchange-traded commodity funds and products worth about $240 billion, noted a net outflow of nearly $2.7 billion in the first quarter of this year. The data contrasts with positive flows for broad commodity exchange-traded products tracked by BlackRock for the same quarter. With the Lipper data, the outflows were largely in two commodity ETFs run by Boston-based mutual fund manager Fidelity Investments. The outflow appears to be slowing from the $16 billion outflow in the fourth quarter of 2013.

announced the conclusion of its seismic acquisition program in the and St. Georges Channel area, offshore . The program, first announced on 15 September, 2006 was carried out by Gardline Surveys Limited utilizing the MV Sea Surveyor. In total, approximately 1,000 kms of high quality data was acquired in the period 10 October 2006 through to 6 November 2006 Specifically, 286 kms of 2-D data was acquired over Pegasus, a large exploration structure in the St. Georges Channel, 369 kms of 3-D data was acquired over the Ardmore gas discovery and 279 kms over the Hook Head oil and gas discovery. As announced on 26 October 2006, Ocean Bottom Seismic (OBS) was successfully deployed over the Blackrock oil discovery.

The world's fleets of cargo ships are aging, and demand for commodities is surging. That means the cost of shipping will go up, pushing up prices and crimping supply. The top performing ETF year to date is Market Vectors Steel SLX, which has returned 72.65%. Other ETFs with big gains were iShares Dow Jones (NYSE:DJ) U.S. Oil Equipment IEZ, iShares S&P Global Materials Sector Index Fund, MXI and WisdomTree Basic Materials DBN. The iShares ETFs returned 41.60% and WisdomTree Basic Materials returned 38.43% year to date. The price of oil was a big factor for the iShares ETF, and that price in part reflects the cost of transport, just as with many other commodities. Shipping costs are measured by the Baltic Exchange Dry Index, an indicator of prices for transporting freight.