Contribution By Paroma Bhattacharya
April 8, 2019
The total enterprise value of the company has reached $12 billion after the deal. The U.S. buyout company Carlyle Group LP has reportedly agreed to purchase up to 40% stake in Spanish oil and gas firm Cepsa. The equity firm will buy Cepsa from Mubadala Investment …
Saft collaborates with Tianneng to expand in Chinese battery market
April 6, 2019
Saft will hold 40 percent stake in the new venture and rest will be held by Tianneng. Saft, the subsidiary of French oil and gas giant Total, has struck a new deal with Tianneng Energy Technology to expand its business in China. The collaboration is …
Saudi Aramco to make payment of $69.1B for acquiring SABIC in stages
April 2, 2019
At the closing of the SABIC deal, Saudi Aramco would pay 50% of the acquisition price, while the remaining payment would be done over a two-year period According to a presentation given by Saudi Aramco to bond investors, the state owned petroleum and natural gas …
Lundin Petroleum completes Johan Sverdrup offshore installation
March 30, 2019
The production from Johan Sverdrup is expected to start till November 2019 Lundin Petroleum AB (Lundin Petroleum) has completed the Johan Sverdrup development project’s installation. The installation of the riser and drilling platforms was done in 2018, and now, installation of the remaining topside facilities, …
Saudi Aramco agrees to acquire a majority stake in SABIC for $69.1B
March 29, 2019
The deal has been finalized after months of talks between PIF and Aramco, which caused a delay of Aramco’s planned multi-billion-dollar IPO Saudi Aramco has reportedly announced it will buy a 70% stake in Saudi Basic Industries Corp (SABIC), currently held by Public Investment Fund …
CIT leads third round of financing for energy storage project
March 28, 2019
In 2018, CIT bagged second position for the total number of renewable energy projects financed in a year. CIT Group Incorporation, the New York based financial holding company recently announced that it has finished the third round for financing for an battery-based energy storage project. …
BOEM, NOAA & Fishing Industry sign new MOU on offshore wind energy
March 27, 2019
The 10-year MOU outlines several areas of mutual interest including responsible planning and siting of turbine arrays, development of sites of offshore wind power and to work with local and regional fishing interests. The National Oceanic and Atmospheric Administration (NOAA) has inked a memorandum of …
ADNOC inks MoUs with Borealis, OMV to team up on downstream businesses
March 25, 2019
ADNOC and OMV will evaluate new opportunities in petrochemical projects, and exchange experience and knowledge ADNOC and Borealis will jointly explore potential growth opportunities in integrated polyolefin industry Abu Dhabi National Oil Company (ADNOC) has reportedly inked one Memorandum of Understanding (MoU) with Borealis, as …